Common use of Negotiation of alternative rate of interest Clause in Contracts

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an Advance is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances during the Interest Period concerned.

Appears in 4 contracts

Samples: Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp)

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Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an Advance the Loan is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 4 contracts

Samples: Agreement (Star Bulk Carriers Corp.), Loan Agreement (Star Cosmo Llc.), Loan Agreement (Knightsbridge Tankers LTD)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an Advance is made, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 3 contracts

Samples: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Quintana Shipping Ltd.), Agreement (TBS International LTD)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an Advance the Loan is madeadvanced, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 2 contracts

Samples: Agreement (NewLead Holdings Ltd.), Loan Agreement (NewLead Holdings Ltd.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an Advance is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 2 contracts

Samples: Loan Agreement (Omega Navigation Enterprises, Inc.), Loan Agreement (DryShips Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an the first Advance is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 2 contracts

Samples: Loan Agreement (Box Ships Inc.), Loan Agreement (Box Ships Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an a Tranche or, as the case may be, Advance is madedrawndown, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 15 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund that Tranche or, as the relevant case may be, Advance or Advances during the Interest Period concerned.

Appears in 2 contracts

Samples: Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 4.5 is served after an Advance is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 4.5 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 2 contracts

Samples: Loan Agreement (General Maritime Corp / MI), Loan Agreement (Arlington Tankers Ltd.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served on the Borrower after an Advance the Loan is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 2 contracts

Samples: Loan Agreement (Tsakos Energy Navigation LTD), Loan Agreement (Tsakos Energy Navigation LTD)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after an the Advance is made, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the Negotiation Period), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances during the Interest Period concerned.

Appears in 2 contracts

Samples: Loan Agreement (B Plus H Ocean Carriers LTD), Loan Agreement (B Plus H Ocean Carriers LTD)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an Advance the Loan is madeadvanced, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 2 contracts

Samples: Loan Agreement, Loan Agreement (Capital Product Partners L.P.)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after an Advance is made, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the Negotiation Period), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant such Advance or Advances during the Interest Period concerned.

Appears in 2 contracts

Samples: Loan Agreement (B Plus H Ocean Carriers LTD), Loan Agreement (B Plus H Ocean Carriers LTD)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 4,4 is served after an Advance is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Star Bulk Carriers Corp.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an Advance the Loan is madedrawndown, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 15 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after an Advance a Tranche is madeadvanced, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 1 contract

Samples: Agreement (Diana Shipping Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an Advance the Loan is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Box Ships Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 4.5 is served after an Advance or the Loan is mademade available, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 4.5 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances the Loan during the Interest Period concerned.

Appears in 1 contract

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

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Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 5.4 is served after an Advance is madethe Loan has been advanced, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 5.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an Advance a Tranche is madeadvanced, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance Loan (or Advances any part of it) during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Bulkers Inc.)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after an Advance is made, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant that Advance or Advances during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an Advance is made, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after an Advance is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Lender serves its notice under Clause 4.4 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an Advance the Loan is madeborrowed, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Quintana Shipping Ltd.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an Advance the Loan (or any part thereof) is madeadvanced, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or .or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Pyxis Tankers Inc.)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after an Advance the Loan is mademade available, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after an Advance the Loan is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Lender serves its notice under Clause 4.4 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Loan during the Interest interest Period concerned.

Appears in 1 contract

Samples: Agreement (Paragon Shipping Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after an Advance is made, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 15 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after an Advance a Tranche is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Lender serves its notice under Clause 4.4 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the relevant Advance or Advances Tranche during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Box Ships Inc.)

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