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 5.8 is served after a Tranche is advanced, the Borrowers, the Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within 30 days after the date on which the Agent serves its notice under Clause 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 during the Interest Period concerned.

Appears in 3 contracts

Samples: Loan Agreement (Star Bulk Carriers Corp.), Loan Agreement (DryShips Inc.), Loan Agreement (Star Bulk Management Inc.)

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Negotiation of alternative rate of interest. If the Agent's ’s notice under Clause 5.8 5.6 is served after a Tranche is has been advanced, the BorrowersBorrower, the Agent, 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 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 Tranche or Tranches during the Interest Period concerned.

Appears in 3 contracts

Samples: Loan Facility Agreement (Star Bulk Carriers Corp.), Loan Facility Agreement (Star Bulk Carriers Corp.), Loan Agreement (Star Bulk Carriers Corp.)

Negotiation of alternative rate of interest. If the Agent's notice under Clause 5.8 is served after a Tranche is advancedmade, the Borrowers, the Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank 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 (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 (Scorpio Bulkers Inc.), Loan Agreement (Scorpio Tankers Inc.)

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

Appears in 2 contracts

Samples: Amending and Restating Deed, Amending and Restating Deed (Global Ship Lease, Inc.)

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

Appears in 2 contracts

Samples: Loan Agreement (Global Ship Lease, Inc.), Amending and Restating Agreement (Poseidon Containers Holdings Corp.)

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

Appears in 1 contract

Samples: Loan Agreement (Star Bulk Management Inc.)

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

Appears in 1 contract

Samples: Second Amending and Restating Deed (Global Ship Lease, Inc.)

Negotiation of alternative rate of interest. If the Agent's ’s notice under Clause 5.8 is served after a Tranche is advancedmade, the BorrowersBorrower, the Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank 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 (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 (Scorpio Bulkers Inc.)

Negotiation of alternative rate of interest. If the Facility Agent's ’s notice under Clause 5.8 5.7 is served after a an Advance or Tranche is advancedmade, the Borrowers, the Agent, Facility 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 Facility Agent serves its notice under Clause 5.8 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, Tranche, Advances or Tranches during the Interest Period concerned.

Appears in 1 contract

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

Negotiation of alternative rate of interest. If the Agent's ’s notice under Clause 5.8 5.6 is served after a Tranche is advancedserved, the BorrowersBorrower, the Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank 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 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 (Seacastle Inc.)

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

Appears in 1 contract

Samples: Loan Agreement (Box Ships Inc.)

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

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Acquisition CORP)

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

Appears in 1 contract

Samples: Loan Agreement (Box Ships Inc.)

Negotiation of alternative rate of interest. If the Agent's ’s notice under Clause 5.8 5.6 is served after a Tranche is advanced, the Borrowers, the Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within 30 days after the date on which the Agent serves its notice under Clause 5.8 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 (Pyxis Tankers Inc.)

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