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

Negotiation of alternative rate of interest. If the Agent serves a notice under Clause 5.8, 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 5.8 (Notification of market disruption) (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 during the Interest Period concerned.

Appears in 2 contracts

Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)

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Negotiation of alternative rate of interest. If the Agent serves a Agent's notice under Clause 5.85.8 is served after a Tranche is made, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the relevantSwap Bank shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Agent serves its notice under Clause 5.8 (Notification of market disruption) (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 during the Interest Period concerned.

Appears in 2 contracts

Samples: Amending and Restating Agreement (Box Ships Inc.), Amending and Restating Agreement (Box Ships Inc.)

Negotiation of alternative rate of interest. If the Agent serves a Agent’s notice under Clause 5.85.6 is served after the Loan is advanced, 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 5.8 (Notification of market disruption) 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 Loan during the Interest Period concerned.

Appears in 2 contracts

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

Negotiation of alternative rate of interest. If the Agent serves a Agent's notice under Clause 5.85.8 is served after 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 5.8 (Notification of market disruption) (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 plus the Mandatory Cost (if any) during the Interest Period concerned.

Appears in 2 contracts

Samples: Amending and Restating Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)

Negotiation of alternative rate of interest. If the Agent serves a Agent's notice under Clause 5.85.8 is served after the Loan is borrowed, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.8 (Notification of market disruption) (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 during the Interest Period concerned.

Appears in 2 contracts

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

Negotiation of alternative rate of interest. If the Agent serves a Agent's notice under Clause 5.85.6 is served after an Advance is borrowed, 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 5.8 (Notification of market disruption) 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 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 Agent serves a Agent’s notice under Clause 5.85.8 is served after a 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 15 days after the date on which the Agent serves its notice under Clause 5.8 (Notification of market disruption) (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 such Loan during the Interest Period concerned.

Appears in 1 contract

Samples: Loan and Guarantee Facility Agreement (DryShips Inc.)

Negotiation of alternative rate of interest. If the Agent serves a Paying Agent’s notice under Clause 5.86.8 is served on the Borrower after an Advance is made, the Borrower, the Paying 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 Paying Agent serves its notice under Clause 5.8 (Notification of market disruption) 6.8 (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 during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Negotiation of alternative rate of interest. If the Agent serves a Agent’s notice under Clause 5.85.6 is served after the Loan 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 Business Days after the date on which the Agent serves its notice under Clause 5.8 (Notification of market disruption) 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 during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Negotiation of alternative rate of interest. If the Agent serves a Agent's notice under Clause 5.85.6 is served after the Loan is advanced, 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 Business Days after the date on which the Agent serves its notice under Clause 5.8 (Notification of market disruption) 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 during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Negotiation of alternative rate of interest. If the Agent serves a Agent’s notice under Clause 5.86.6 is served after 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 on, which the Agent serves its notice under Clause 5.8 (Notification of market disruption) 6.6 (the “Negotiation Period”), an alternative interest rate or (as at the case may be) an alternative basis for the Lenders or (as the case may be) the Affected affected Lender to fund or continue to fund their or its Contribution during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Prestige Cruises International, Inc.)

Negotiation of alternative rate of interest. If the Agent serves a Agent's notice under Clause 5.85.8 is served after an Advance is made, the BorrowerBorrowers, the Agent and 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 5.8 (Notification of market disruption) (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 during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Top Ships Inc.)

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Negotiation of alternative rate of interest. If the Agent serves a Agent's notice under Clause 5.85.7 is served after the Loan is made available, the BorrowerBorrowers, the Agent and the Lenders or (as the case may be) the Affected Lender and the Swap Banks shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.8 (Notification of market disruption) 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 during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Dynagas LNG Partners LP)

Negotiation of alternative rate of interest. If the Agent serves a Agent's notice under Clause 5.85.5 is served after the Loan is made, then subject to Clause 27.4, the BorrowerBorrowers, the Agent and Agent, 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 5.8 (Notification of market disruption) 5.5 (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 during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

Negotiation of alternative rate of interest. If the Agent serves a Agent's notice under Clause 5.85.6 is served after the Loan is advanced, 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 5.8 (Notification of market disruption) 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 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 Agent serves a Agent’s notice under Clause 5.85.8 is served on the Borrower after the Loan is advanced, 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 5.8 (Notification of market disruption) (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 during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Negotiation of alternative rate of interest. If the Agent serves a Agent’s notice under Clause 5.85.7 is served after the Loan is made available, the Borrower, the Agent and the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.8 (Notification of market disruption) 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 during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

Negotiation of alternative rate of interest. If the Agent serves a Agent’s notice under Clause 5.85.8 is served after the Loan is advanced, 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 5.8 (Notification of market disruption) (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 during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Negotiation of alternative rate of interest. If the Agent serves a Agent's notice under Clause 5.85.8 is served after the Loan is borrowed, the Borrower, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.8 (Notification of market disruption) (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 during the Interest Period concerned.

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

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