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

Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 is served after an Advance is made, the Borrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances during the Interest Period concerned.

Appears in 10 contracts

Samples: Loan Agreement, Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)

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Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 5.8 is served after an Advance is made, the BorrowerBorrowers, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances during the Interest Period concerned.

Appears in 7 contracts

Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (TBS International PLC), Loan Agreement (TBS International PLC)

Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 5.8 is served after an Advance is made, the Borrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances during the Interest Period concerned.

Appears in 5 contracts

Samples: Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.), Loan Agreement (Euronav NV), Loan Agreement (Costamare Partners LP)

Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 5.8 is served after an Advance is made, the Borrower, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Counterparties shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances during the Interest Period concerned.

Appears in 4 contracts

Samples: Loan Agreement (GasLog Partners LP), Loan Agreement (GasLog Partners LP), Loan Agreement

Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 5.8 is served after an Advance the Loan is made, the Borrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances during the Interest Period concerned.

Appears in 3 contracts

Samples: Loan Agreement, Amending and Restating Agreement (Golar LNG Partners LP), Loan Agreement (Britannia Bulk Holdings Inc)

Negotiation of alternative rate of interest. If the Facility Agent’s notice under Clause 5.6 5.8 is served after an Advance is made, the Borrower, the Facility Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Facility Agent serves its notice under Clause 5.6 5.8 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances during the Interest Period concerned.

Appears in 2 contracts

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

Negotiation of alternative rate of interest. If the Agent’s 's notice under Clause 5.6 5.7 is served after an Advance is made, the Borrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.7 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances during the Interest Period concerned.

Appears in 2 contracts

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

Negotiation of alternative rate of interest. If the Facility Agent’s notice under Clause 5.6 4.5 is served after an the Advance is made, the BorrowerBorrowers, the Facility Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours endeavors to agree, within the 30 days after the date on which the Facility Agent serves its notice under Clause 5.6 4.5 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders each Lender or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to Ratable Portion of the relevant Advance or Advances during the Interest Period concerned.

Appears in 2 contracts

Samples: Loan Agreement (TBS International LTD), Loan Agreement (TBS International LTD)

Negotiation of alternative rate of interest. If the Facility Agent’s notice under Clause 5.6 is served after an Advance is made, the Borrower, the Facility Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Facility Agent serves its notice under Clause 5.6 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances 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 Facility Agent’s notice under Clause 5.6 4.5 is served after an Advance is made, the Borrower, the Facility Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours endeavors to agree, within the 30 days after the date on which the Facility Agent serves its notice under Clause 5.6 4.5 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders each Lender or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to Ratable Portion of the relevant Advance or Advances during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Ultrapetrol Bahamas LTD)

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Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 is served after an Advance is made, the Borrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 5.7 is served after an Advance is made, the Borrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.7 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances during the Interest Period concerned.

Appears in 1 contract

Samples: Agreement (DryShips Inc.)

Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 is served after an Advance is made, the Borrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 15 days after the date on which the Agent serves its notice under Clause 5.6 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant such Advance or Advances during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Negotiation of alternative rate of interest. If Notwithstanding whether the Agent’s notice under Clause 5.6 5.8 is served before or after an Advance is made, the BorrowerBorrowers, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Holdings Inc.)

Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 4.5 is served after an Advance is made, the Borrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours endeavors to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 4.5 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders each Lender or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to Ratable Portion of the relevant Advance or Advances during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Oceanfreight Inc.)

Negotiation of alternative rate of interest. If the Agent’s 's notice under Clause 5.6 is served after an Advance is made, the Borrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Advance or Advances during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

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