Common use of Master Swap Agreement, Repayments and Prepayments Clause in Contracts

Master Swap Agreement, Repayments and Prepayments. 5.3.1 Notwithstanding any provision of the Master Swap Agreement to the contrary, in the case of a prepayment of all or part of the Loan (including, without limit, upon a Total Loss in accordance with clause 5.4 and under clause 9.2) then, subject to clause 5.3.2, the Bank shall be entitled but not obliged (and, where relevant, may do without the consent of the Borrower, where it would otherwise be required whether under the Master Swap Agreement or otherwise) to amend, re-book, supplement, cancel, close out, net out, terminate, liquidate, transfer or assign all or any part of the rights, benefits and obligations created by any Transaction and/or the Master Swap Agreement and/or to obtain or re-establish any hedge or related trading position in any manner and with any person the Bank in its absolute discretion may determine and both the Bank’s and the Borrower’s continuing obligations under any Transaction and/or Master Swap Agreement shall, unless agreed otherwise by the Bank, be calculated so far as the Bank considers it practicable by reference to the amended repayment schedule for the Loan taking into account the fact that less than the full amount of the Loan remains outstanding.

Appears in 4 contracts

Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)

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Master Swap Agreement, Repayments and Prepayments. 5.3.1 4.6.1 Notwithstanding any provision of the Master Swap Agreement to the contrary, in the case of a prepayment of all or part of the Loan (including, without limitlimitation, upon following the occurrence of a Total Loss in accordance with clause 5.4 and 4.3 or under clause 9.2clauses 8.2.1(a) or 12.1) then, subject to clause 5.3.24.6.2, the Bank shall be entitled but not obliged (and, where relevant, may do so without the consent of the BorrowerBorrowers, where it would otherwise be required whether under the Master Swap Agreement or otherwise) to amend, re-book, supplement, cancel, close out, net out, terminate, liquidate, transfer or assign all or any part of the rights, benefits and obligations created by any Transaction and/or the Master Swap Agreement and/or to obtain or re-establish any hedge or related trading position in any manner and with any person the Bank in its absolute discretion may determine and both the Bank’s 's and the Borrower’s Borrowers' continuing obligations under any Transaction and/or the Master Swap Agreement shall, unless agreed otherwise by the Bank, be calculated so far as the Bank considers it practicable by reference to the amended repayment schedule for the Loan taking into account the fact that less than the full amount of the Loan remains outstanding.

Appears in 2 contracts

Samples: Tenth Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Eighth Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

Master Swap Agreement, Repayments and Prepayments. 5.3.1 Notwithstanding any provision of the Master Swap Agreement to the contrary, in the case of a prepayment of all or part of the Loan (including, without limit, upon a Total Loss in accordance with clause 5.4 and under clause 9.2) then, then subject to clause 5.3.2, 5.3.2 the Bank shall be entitled but not obliged (and, where relevant, may do without the consent of the Borrower, where it would otherwise be required whether under the Master Swap Agreement or otherwise) to amend, re-book, supplement, cancel, close out, net out, terminate, liquidate, transfer or assign all or any part of the rights, benefits and obligations created by any Transaction and/or the Master Swap Agreement and/or to obtain or re-establish any hedge or related trading position in any manner and with any person the Bank in its absolute discretion may determine and both the Bank’s and the Borrower’s continuing obligations under any Transaction and/or Master Swap Agreement shall, unless agreed otherwise by the Bank, be calculated so far as the Bank considers it practicable by reference to the amended repayment schedule for the Loan taking into account the fact that less than the full amount of the Loan remains outstanding.

Appears in 2 contracts

Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)

Master Swap Agreement, Repayments and Prepayments. 5.3.1 4.6.1 Notwithstanding any provision of the Master Swap Agreement to the contrary, in the case of a prepayment of all or part of the Loan (including, without limitlimitation, upon following the occurrence of a Total Loss in accordance with clause 5.4 and 4.3 or under clause 9.2clauses 8.2.1(a) or 12.1) then, subject to clause 5.3.24.6.2, the Bank shall be entitled but not obliged (and, where relevant, may do so without the consent of the BorrowerBorrowers, where it would otherwise be required whether under the Master Swap Agreement or otherwise) to amend, re-book, supplement, cancel, close out, net out, terminate, liquidate, transfer or assign all or any part of the rights, benefits and obligations created by any Transaction and/or the Master Swap Agreement and/or to obtain or re-establish any hedge or related trading position in any manner and with any person the Bank in its absolute discretion may determine and both the Bank’s and the Borrower’s Borrowers’ continuing obligations under any Transaction and/or the Master Swap Agreement shall, unless agreed otherwise by the Bank, be calculated so far as the Bank considers it practicable by reference to the amended repayment schedule for the Loan taking into account the fact that less than the full amount of the Loan remains outstanding.

Appears in 1 contract

Samples: Loan Agreement (Aegean Marine Petroleum Network Inc.)

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Master Swap Agreement, Repayments and Prepayments. 5.3.1 4.4.1 Notwithstanding any provision of the Master Swap Agreement to the contrary, in the case of a prepayment of all or part of the Loan (including, without limit, upon a Total Loss in accordance with clause 5.4 4.5 and under clause 9.28.4) then, then subject to clause 5.3.2, 4.4.2 the Bank shall be entitled but not obliged (and, where relevant, may do without the consent of the Borrower, where it would otherwise be required whether under the Master Swap Agreement or otherwise) to amend, re-book, supplement, cancel, close out, net out, terminate, liquidate, transfer or assign all or any part of the rights, benefits and obligations created by any Transaction and/or the Master Swap Agreement and/or to obtain or re-establish any hedge or related trading position in any manner and with any person the Bank in its absolute discretion may determine and both the Bank’s 's and the Borrower’s 's continuing obligations under any Transaction and/or the Master Swap Agreement shall, unless agreed otherwise by the Bank, be calculated so far as the Bank considers it practicable by reference to the amended repayment schedule Schedule for the Loan taking into account the fact that less than the full amount of the Loan remains outstanding.

Appears in 1 contract

Samples: Agreement (Top Tankers Inc.)

Master Swap Agreement, Repayments and Prepayments. 5.3.1 4.9.1 Notwithstanding any provision of the Master Swap Agreement to the contrary, in the case of a prepayment of all or part of the Loan (including, without limit, upon a Total Loss in accordance with clause 5.4 4.5 and under clause 9.28.2) then, then subject to clause 5.3.2, 4.9.2 the Swap Bank shall be entitled but not obliged (and, where relevant, may do without the consent of the Borrower, where it would otherwise be required whether under the Master Swap Agreement or otherwise) to amend, re-book, supplement, cancel, close out, net out, terminate, liquidate, transfer or assign all or any part of the rights, benefits and obligations created by any Transaction and/or the Master Swap Agreement and/or to obtain or re-establish any hedge or related trading position in any manner and with any person the Swap Bank in its their absolute discretion may determine and both the Swap Bank’s and the Borrower’s continuing obligations under any Transaction and/or the Master Swap Agreement shall, unless agreed otherwise by the Swap Bank, be calculated so far as the Swap Bank considers it practicable by reference to the amended repayment schedule Schedule for the Loan taking into account the fact that less than the full amount of the Loan remains outstanding.

Appears in 1 contract

Samples: Facilities Agreement (Omega Navigation Enterprises, Inc.)

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