Common use of Miscellaneous indemnities Clause in Contracts

Miscellaneous indemnities. The Borrowers shall on demand indemnify each Creditor, without prejudice to any of such Creditor’s other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche or part thereof being made under clauses 4.3, 8.2.1(a) or 12.1 or any other repayment or prepayment of a Tranche or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche prepaid or repaid; or 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) or any other amount owing to such Creditor.

Appears in 4 contracts

Sources: Loan Agreement (Euronav NV), Loan Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)

Miscellaneous indemnities. The Borrowers shall on demand indemnify each Creditor, without prejudice to any of such Creditor’s 's other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche or part thereof being made under clauses 4.3, 8.2.1(a) or 12.1 or any other repayment or prepayment of a Tranche or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche prepaid or repaid; or 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) or any other amount owing to such Creditor.

Appears in 4 contracts

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.), Third Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Ninth Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

Miscellaneous indemnities. The Borrowers shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditorthe Bank’s other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrowers of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche or part thereof being made under clauses 4.3, 8.2.1(a) 8.2.1 or 12.1 or any other repayment or prepayment of a Tranche or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche prepaid or repaid; or 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance in relation thereto has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (a Tranche or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (a Tranche or any part thereof) or any other amount owing to such Creditor.

Appears in 4 contracts

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)

Miscellaneous indemnities. The Borrowers shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditorthe Bank’s other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrowers of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.34.2, 8.2.1(a) 4.3 or 12.1 or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or; 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such that Advance has been given; or 11.1.5 the issuance of either Bank Guarantee and/or the performance of the Bank’s obligations thereunder, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (Loan or any part thereof) thereof or any loan outstanding under clause 2.5.1 or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (Loan or any part thereof) thereof or any other amount owing to such Creditorloan outstanding under clause 2.5.1.

Appears in 2 contracts

Sources: Supplemental Agreement, Supplemental Agreement (Gala Properties Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditorthe Bank’s other rights under any of the Security Documents, against any loss (including excluding loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 12.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due; 11.1.2 12.1.2 the occurrence of any other Event of Default; 11.1.3 12.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.3clause 5.2, 8.2.1(a) 5.3, 9.2.1 or 12.1 13.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance 12.1.4 the Loan not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (Loan or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (Loan or any part thereof) or any other amount owing to such Creditor.

Appears in 2 contracts

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

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditor, Beneficiary without prejudice to any of such Creditor’s their other rights under any of this Agreement and the Security Facility Documents, against any loss (including loss of Margin, but only loss of Margin in respect of the actual Contributions of each Lender to the Loans at the relevant time) or expense which such Creditor Beneficiary shall certify (subject always to clause 8.10 (Certificates conclusive)) as sustained or incurred by it as a consequence of: 11.1.1 12.1.1 any default in payment by any Security Party of any sum under this Agreement or any of the Security Facility Documents when due; 11.1.2 12.1.2 subject to any exclusion in the final paragraph of clause 12.3.1 below, the occurrence of any other Event of Default; 11.1.3 12.1.3 the exercise by the Security Trustee of any prepayment or reduction all of a Tranche its rights under or part thereof being made under clauses 4.3pursuant to the Facility Documents; 12.1.4 if applicable, 8.2.1(a) or 12.1 or any other repayment or prepayment of a Tranche all or part thereof of a Loan being made otherwise than on an Interest Payment Date relating to the part of the Tranche prepaid Loan repaid or repaidprepaid; or 11.1.4 12.1.5 any Advance not being made for any reason (excluding any default by the Agent or any Banka Beneficiary) after the a Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor such Beneficiary in maintaining or funding its Contribution or, as the case may be, its Commitment (all or any part thereof) of its Contributions or Commitments or in liquidating or re-employing deposits from third parties acquired or contracted for to effect or maintain its Contribution or, as the case may be, its Commitment (fund all or any part thereof) of its Contributions or Commitments or any other amount owing to such CreditorBeneficiary.

Appears in 2 contracts

Sources: Project Loan Agreement, Project Loan Agreement (QGOG Constellation S.A.)

Miscellaneous indemnities. The Borrowers shall on demand indemnify each Creditor, without prejudice to any of such Creditor’s 's other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default by any Security Party in payment of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment of an Advance or reduction of a Tranche (or any part thereof thereof) being made under clauses 3.6.2, 4.3, 4.6, 8.2.1(a) or 12.1 or any other repayment or prepayment of a an Advance or Tranche or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Advance or Tranche prepaid or repaid; or; 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any BankLender) after the Drawdown Notice for such Advance has been given, ; or including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) or any other amount owing to such Creditor.

Appears in 2 contracts

Sources: Loan Agreement (Seanergy Maritime Holdings Corp.), Loan Agreement (Seanergy Maritime Holdings Corp.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditor, without prejudice to any of such Creditor’s 's other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.34.3.3, 8.2.1(a) or 12.1 or any other repayment or prepayment of a Tranche the Loan or part thereof being made made, otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or; 11.1.4 applying any sum standing to the credit of the Cash Collateral Account otherwise than on the last day of a deposit period relating thereto; 11.1.5 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given; or 11.1.6 any L/C not being issued for any reason (excluding any default by any Creditor) after the Issue Request for such L/C has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor a Bank in maintaining or funding its Contribution or, or (as the case may be, its ) Commitment (or any part thereof) thereof or any amount owing under clauses 2.10.2 or 4.1.1 or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, or (as the case may be, its ) Commitment (or any part thereof) thereof or any other amount owing to such Creditorunder clauses 2.10.2 or 4.1.1.

Appears in 2 contracts

Sources: Facility Agreement (Aegean Marine Petroleum Network Inc.), Facility Agreement (Aegean Marine Petroleum Network Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditor’s the Bank's other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment of the Loan (or reduction of a Tranche or any part thereof thereof) being made under clauses 4.2, 4.3, 8.2.1(a) or 12.1 or any other prepayment or repayment or prepayment of a Tranche the Loan (or part thereof thereof) being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan being prepaid or repaid; or 11.1.4 any Advance the Loan not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, to any loss or expense sustained or incurred by the relevant Creditor Bank in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such Creditorthe Bank.

Appears in 2 contracts

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditor, without prejudice to any of such Creditor’s their other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 receiving or recovering all or any part of a sum unpaid otherwise than on the due date for the payment of interest in respect thereof; 11.1.4 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.2, 4.3, 8.2.1(a) 4.4.1, 4.7 or 12.1 12.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment a Rollover Date relating to the part of the Tranche prepaid being repair or repaidprepaid; or 11.1.4 11.1.5 the Loan or any Advance part thereof not being made for any reason (excluding any default by the Agent or any Bankrelevant Creditor) after on the date specified in the Drawdown Notice for such Advance has been given, once given including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant any Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired or contracted for to fund, effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) or any other amount owing to such Creditorthereof (collectively "Breakage Costs").

Appears in 1 contract

Sources: Facility Agreement (Golar LNG LTD)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditorthe Bank’s other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 12.1.1 any default in payment by the Borrower of any sum under any of the Security Documents documents when due; 11.1.2 12.1.2 the occurrence of any other Event of Default; 11.1.3 12.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.35.3, 8.2.1(a) 9.2 or 12.1 13.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance 12.1.4 the Loan or part thereof not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (Loan or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (Loan or any part thereof) or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Loan Agreement (Safe Bulkers, Inc.)

Miscellaneous indemnities. The Borrowers shall on demand indemnify each Creditor, without prejudice to any of such Creditor’s other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.3, 4.4, 8.2.1(a) or 12.1 or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Senior Loan Agreement (FreeSeas Inc.)

Miscellaneous indemnities. The Borrowers shall on demand indemnify each Creditor, without prejudice to any of such Creditor’s 's other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrowers of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses clause 4.3, 8.2.1(a8. (a) or 12.1 or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or; 11.1.4 any either Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given; or 11.1.5 the exercise of the deferral option by the Borrowers pursuant to clause 4.4 in respect of a relevant repayment instalment, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Loan Agreement (Capital Maritime & Trading Corp.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each CreditorFinance Party, without prejudice to any of such Creditor’s their other rights under any of the Security DocumentsDocuments or the Master Swap Agreements, against any loss (including loss of Margin) or expense which such Creditor the Finance Parties shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses clause 4.2, 4.3, 8.2.1(a) 8.2.1 or 12.1 12.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance the Loan not being made drawn down for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor any Bank in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such CreditorBank Provided always that no such indemnity shall be payable in the case where such loss or expenses sustained or incurred has arisen as a result of the gross negligence or wilful misconduct of the Finance Parties.

Appears in 1 contract

Sources: Facility Agreement (Aries Maritime Transport LTD)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditorthe Bank’s other rights under any of the Security Documents, Documents against any loss (including loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due;; or 11.1.2 the occurrence of any other Event of Default;; or 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.3, 8.2.1(a) 8.3.1(a), 8.4 or 12.1 12.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance the Loan not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance the Loan has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (Loan or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (Loan or any part thereof) or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Loan Agreement (NewLead Holdings Ltd.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each CreditorBeneficiary, without prejudice to any of such Creditor’s their other rights under any of this Agreement and the Security Facility Documents, against any loss (including loss of Margin, but only loss of Margin in respect of the actual Contribution of each Lender to the Loan at the relevant time) or expense which such Creditor Beneficiary shall certify (subject always to clause 8.10 (Certificates conclusive)) as sustained or incurred by it as a consequence of: 11.1.1 12.1.1 any default in payment by any Security Party of any sum under this Agreement or any of the Security Facility Documents when due; 11.1.2 12.1.2 subject to any exclusion in the final paragraph of clause 12.3.1 below, the occurrence of any other Event of Default; 11.1.3 12.1.3 the exercise by the Security Trustee of any prepayment or reduction all of a Tranche its rights under or part thereof being made under clauses 4.3pursuant to the Facility Documents; 12.1.4 if applicable, 8.2.1(a) or 12.1 or any other repayment or prepayment of a Tranche all or part thereof of the Loan being made otherwise than on an Interest Payment Date relating to the part of the Tranche prepaid Loan repaid or repaidprepaid; or 11.1.4 12.1.5 any Advance not being made for any reason (excluding any default by the Agent or any Banka Beneficiary) after the a Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor such Beneficiary in maintaining or funding its Contribution or, as the case may be, its Commitment (all or any part thereof) of its Contribution or Commitment or in liquidating or re-employing deposits from third parties acquired or contracted for to effect or maintain its Contribution or, as the case may be, its Commitment (fund all or any part thereof) of its Contribution or Commitment or any other amount owing to such CreditorBeneficiary.

Appears in 1 contract

Sources: Project Loan Agreement (QGOG Constellation S.A.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditorthe Bank’s other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.3clause 4.5, 8.2.1(a) 8.2.1 or 12.1 12.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance the Loan not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (Loan or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (Loan or any part thereof) or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Loan Agreement (B Plus H Ocean Carriers LTD)

Miscellaneous indemnities. The Borrowers shall on demand indemnify each Creditor, without prejudice to any of such Creditor’s other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.34.2, 8.2.1(a) 4.3 or 12.1 or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) ), or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Loan Agreement (Quintana Shipping Ltd.)

Miscellaneous indemnities. The Borrowers shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditorthe Bank’s other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.3, 4.4, 8.2.1(a) ), or 12.1 12.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance Loan not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor Bank in maintaining or funding its Contribution the Loan or, as the case may be, its the Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (Loan or any part thereof) thereof or any other amount owing to such Creditorthe Bank.

Appears in 1 contract

Sources: Junior Loan Agreement (FreeSeas Inc.)

Miscellaneous indemnities. The Borrowers shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditorthe Bank’s other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrowers of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction repayment of a Tranche or part thereof being made under clauses 4.3, 8.2.1(a) 8.2.1, 8.2.7 or 12.1 or any other repayment or prepayment of a Tranche or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche prepaid or repaid; or; 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice in relation thereto has been given; or 11.1.5 any L/C not being issued for such Advance any reason (excluding any default by the Bank) after the Issue Request in relation thereto has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as a Tranche or the case may be, its Commitment Overdraft or any loans advanced by the Bank pursuant to clause 2.23.3 (or any part thereof) or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as a Tranche or the case may be, its Commitment Overdraft or any loans advanced by the Bank pursuant to clause 2.23.3 (or any part thereof) or any other amount owing to such Creditor).

Appears in 1 contract

Sources: Facility Agreement (Aegean Marine Petroleum Network Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditorthe Bank’s other rights under any of the Security Documents, against any loss (including excluding loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 12.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due; 11.1.2 12.1.2 the occurrence of any other Event of Default; 11.1.3 12.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.35.2, 8.2.1(a) 5.3, 9.2.1 or 12.1 or 13.1, any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance 12.1.4 the Loan or part thereof not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (Loan or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (Loan or any part thereof) or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Loan Agreement (Safe Bulkers, Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditor’s the Bank's other rights under any of the Security Documents, Documents against any loss (including loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due;; or 11.1.2 the occurrence of any other Event of Default;; or 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.3, 8.2.1(a) 8.3.1(a), 8.4 or 12.1 12.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance the Loan not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance the Loan has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (Loan or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (Loan or any part thereof) or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Loan Agreement (Navios Maritime Holdings Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each CreditorBank, each Arranger, the Security Trustee and the Agent, without prejudice to any of such Creditor’s their other rights under any of the Security Documentsthis Agreement, against any loss (including in the case of (a) or (b) below loss of Margin) or expense which such Creditor Bank, such Arranger, the Security Trustee or the Agent shall certify as sustained or incurred by it as a consequence of: 11.1.1 (a) any default in payment by the Borrower of any sum under any of the Security Documents this Agreement when due; 11.1.2 (b) the occurrence of any other Event of Default; 11.1.3 (c) any repayment or prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.3, 8.2.1(a) clause 6 or 12.1 or any other repayment or prepayment of a Tranche or part thereof being made 15.1 otherwise than on the last day of an Interest Payment Date Period relating to the part of the Tranche prepaid Loan repaid or repaidprepaid; or 11.1.4 (d) any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the a Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor such Bank in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing reemploying deposits from third parties acquired or contracted for to effect or maintain fund its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such CreditorBank.

Appears in 1 contract

Sources: Loan Agreement (Telewest Communications PLC /New/)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditorthe Bank’s other rights under any of the Security Documents, against any loss (including excluding loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 12.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due; 11.1.2 12.1.2 the occurrence of any other Event of Default; 11.1.3 12.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.35.2, 8.2.1(a) 5.3, 9.2.1 or 12.1 13.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance 12.1.4 the Loan or part thereof not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (Loan or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (Loan or any part thereof) or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Loan Agreement (Safe Bulkers, Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditorthe Bank’s other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 12.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due; 11.1.2 12.1.2 the occurrence of any other Event of Default; 11.1.3 12.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.35.3, 8.2.1(a) 9.2 or 12.1 13.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance 12.1.4 the Loan or part thereof not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (Loan or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (Loan or any part thereof) or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Loan Agreement (Safe Bulkers, Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditorthe Bank’s other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment of the Loan (or reduction of a Tranche or any part thereof thereof) being made under clauses 4.2, 4.3, 4.4, 8.2.1(a) or 12.1 or any other prepayment or repayment or prepayment of a Tranche an Advance (or part thereof thereof) being made otherwise than on an Interest Payment Date relating to the part of the Tranche Advance being prepaid or repaid; or 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, to any loss or expense sustained or incurred by the relevant Creditor Bank in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such Creditorthe Bank.

Appears in 1 contract

Sources: Facility Agreement (FreeSeas Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each CreditorFinance Party, without prejudice to any of such Creditor’s their other rights under any of the Security DocumentsDocuments and/or the Master Swap Agreement, against any loss (including loss of Margin) or expense which such Creditor the Finance Parties shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses clause 4.3, 8.2.1(a) 4.5, 8.2.1 or 12.1 12.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance in relation thereto has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor any Bank in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such CreditorBank Provided always that no such indemnity shall be payable in the case where such loss or expenses sustained or incurred has arisen as a result of the gross negligence or wilful misconduct of the Finance Parties.

Appears in 1 contract

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

Miscellaneous indemnities. The Borrowers shall on demand indemnify each Creditor, without prejudice to any of such Creditor’s other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 3.6.2. 4.3, 8.2.1(a) or 12.1 or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance the Loan not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Loan Agreement (Golden Energy Marine Corp.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each CreditorFinance Party, without prejudice to any of such Creditor’s their other rights under any of the Security Finance Documents, against any loss (including loss of Margin) or expense which such Creditor the Finance Parties shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrower of any sum under any of the Security Finance Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Facility or part thereof being made under clauses 4.3clause 4.2, 8.2.1(a) 4.4, 8.2.1 or 12.1 12.1, or any other repayment or prepayment of a Tranche the Facility or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Facility prepaid or repaid; or 11.1.4 any Advance the Facility not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance in relation thereto has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor any Bank in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such CreditorBank Provided always that no such indemnity shall be payable in the case where such loss or expenses sustained or incurred has arisen as a result of the gross negligence or wilful misconduct of the Finance Parties.

Appears in 1 contract

Sources: Junior Secured Loan Agreement (Omega Navigation Enterprises, Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each CreditorLender, the Agent and the Security Trustee, without prejudice to any of such Creditor’s their other rights under any of the Security Documents, against any loss (including loss of MarginMargin until the end of the then current Interest Period) or expense which such Creditor Lender, the Agent or the Security Trustee shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche any Advance or part thereof or the Loan being made under clauses 4.3, 8.2.1(a) 8.3 or 12.1 12.1, or any other repayment or prepayment of a Tranche any Advance or part thereof or the Loan being made otherwise than on an Interest Payment Date relating to the part of Advance or the Tranche Loan prepaid or repaid; or 11.1.4 any Advance not being made for any reason (excluding any default by unless attributable to the Agent or any Bankfault of the Lenders) after the relevant Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor any Lender in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired or contracted for to fund, effect or maintain its Contribution or, as the case may be, its Commitment (all or any part thereof) of its Contribution or any other amount owing arising to such CreditorLender.

Appears in 1 contract

Sources: Loan Agreement (American Eagle Tankers Inc LTD)

Miscellaneous indemnities. The Borrowers shall on demand indemnify each Creditor, without prejudice to any of such Creditor’s 's other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.2, 4.3, 8.2.1(a) 4.4, 8.2.1 or 12.1 12.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any either Advance not being made for any reason (excluding any default by the Agent or any BankCreditor) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditor’s the Bank's other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment of the Loan (or reduction of a Tranche or any part thereof thereof) being made under clauses 4.2, 4.3, 4.4, 8.2.1(a) or 12.1 or any other prepayment or repayment or prepayment of a Tranche an Advance (or part thereof thereof) being made otherwise than on an Interest Payment Date relating to the part of the Tranche Advance being prepaid or repaid; or 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, to any loss or expense sustained or incurred by the relevant Creditor Bank in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such Creditorthe Bank.

Appears in 1 contract

Sources: Facility Agreement (Globus Maritime LTD)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each CreditorFinance Party, without prejudice to any of such Creditor’s their other rights under any of the Security DocumentsDocuments or the Master Swap Agreements, against any loss (including loss of Margin) or expense which such Creditor the Finance Parties shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.3clause 4.2, 8.2.1(a) 4.5, 8. 2.1 or 12.1 12.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance in relation thereto has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor any Bank in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such CreditorBank Provided always that no such indemnity shall be payable in the case where such loss or expenses sustained or incurred has arisen as a result of the gross negligence or wilful misconduct of the Finance Parties.

Appears in 1 contract

Sources: Facility Agreement (Aries Maritime Transport LTD)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditor, without prejudice to any of such Creditor’s the Creditors’ other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due;; or 11.1.2 the occurrence of any other Event of Default;; or 11.1.3 any prepayment of the Loan (or reduction of a Tranche or any part thereof thereof) being made under clauses 4.3, 8.2.1(a) or 12.1 or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance the Loan not being made for any reason (excluding any default by the Agent or any BankCreditor) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor a Bank in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such CreditorBank, or in terminating or reversing, or otherwise in connection with, any open position of a Bank in relation to this Agreement.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditor, without prejudice to any of such Creditor’s the Creditors' other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due;; or 11.1.2 the occurrence of any other Event of Default;; or 11.1.3 any prepayment of the Loan (or reduction of a Tranche or any part thereof thereof) being made under clauses 4.3, 8.2.1(a) or 12.1 or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance the Loan not being made for any reason (excluding any default by the Agent or any BankCreditor) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor a Bank in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such CreditorBank, or in terminating or reversing, or otherwise in connection with, any open position of a Bank in relation to this Agreement.

Appears in 1 contract

Sources: Loan Agreement (Diana Shipping Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each Creditorthe Bank, without prejudice to any of such Creditor’s the Bank's other rights under any of the Security Documents, Documents against any loss (including loss of Margin) or expense which such Creditor the Bank shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due;; or 11.1.2 the occurrence of any other Event of Default;; or 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.3, 8.2.1(a8.3.1(a) or 12.1 12.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance the Loan not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance the Loan has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (Loan or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (Loan or any part thereof) or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Miscellaneous indemnities. The Borrowers Borrower shall on demand indemnify each CreditorFinance Party, without prejudice to any of such Creditor’s their other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor the Finance Parties shall certify as sustained or incurred by it as a consequence of: 11.1.1 any default in payment by the Borrower of any sum under any of the Security Documents when due; 11.1.2 the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses clause 4.3, 8.2.1(a) 4.5, 8.2.1 or 12.1 12.1, or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance in relation thereto has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor any Bank in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) thereof or any other amount owing to such CreditorBank Provided always that no such indemnity shall be payable in the case where such loss or expenses sustained or incurred has arisen as a result of the gross negligence or wilful misconduct of the Finance Parties.

Appears in 1 contract

Sources: Facilities Agreement (Aries Maritime Transport LTD)

Miscellaneous indemnities. 11.1.1 The Borrowers shall on demand indemnify each Creditor, without prejudice to any of such Creditor’s other rights under any of the Security Documents, against any loss (including loss of Margin) or expense which such Creditor shall certify as sustained or incurred by it as a consequence of: 11.1.1 11.1.2 any default in payment of any sum under any of the Security Documents when due; 11.1.2 ; the occurrence of any other Event of Default; 11.1.3 any prepayment or reduction of a Tranche the Loan or part thereof being made under clauses 4.34.2, 8.2.1(a) 4.3 or 12.1 or any other repayment or prepayment of a Tranche the Loan or part thereof being made otherwise than on an Interest Payment Date relating to the part of the Tranche Loan prepaid or repaid; or 11.1.4 any Advance not being made for any reason (excluding any default by the Agent or any Bank) after the Drawdown Notice for such Advance has been given, including, in any such case, but not limited to, any loss or expense sustained or incurred by the relevant Creditor in maintaining or funding its Contribution or, as the case may be, its Commitment (or any part thereof) or in liquidating or re-employing deposits from third parties acquired to effect or maintain its Contribution or, as the case may be, its Commitment (or any part thereof) ), or any other amount owing to such Creditor.

Appears in 1 contract

Sources: Loan Agreement (Quintana Shipping Ltd.)