Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.8 is served after an Advance is made, the Borrowers, the Agent and the Lenders shall use reasonable endeavors 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 for the Lenders to fund or continue to fund their Contribution during the Interest Period concerned.
Appears in 8 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.8 is served after an the Advance is made, the BorrowersBorrower, the Agent and the Lenders shall use reasonable endeavors 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 for the Lenders to fund or continue to fund their Contribution during the Interest Period concerned.
Appears in 2 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
Negotiation of alternative rate of interest. If the Agent’s 's notice under Clause 5.8 5.5 is served after an Advance the Loan is made, the Borrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavors endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.8 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 2 contracts
Samples: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.)
Negotiation of alternative rate of interest. If the Agent’s Agent serves a notice under Clause 5.8 is served after an Advance is made5.8, the Borrowers, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavors 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: Supplemental Agreement (Navios Maritime Containers Inc.)
Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.8 4.5 is served after an the Advance is made, the Borrowers, Borrower and the Agent and the Lenders shall use reasonable endeavors to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.8 4.5 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for each Lender or (as the Lenders case may be) the Affected Lender to fund or continue to fund their Contribution its Ratable Portion of the Advance during the Interest Period concerned.
Appears in 1 contract
Samples: Loan Agreement (Top Ships Inc.)
Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.8 is served after an Advance is made, the Borrowers, the Agent Agent, the Lenders and the Lenders Swap Counterparties shall use reasonable endeavors endeavours to agree, within the 30 15 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 to fund or continue to fund their or its Contribution during the Interest Period concerned.
Appears in 1 contract
Samples: Loan Agreement (Euronav NV)
Negotiation of alternative rate of interest. If the Agent’s Agent serves a notice under Clause 5.8 is served after an Advance is made5.8, the BorrowersBorrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavors 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: Facility Agreement (Navios Maritime Containers Inc.)
Negotiation of alternative rate of interest. If the Agent’s Agent serves a notice under Clause 5.8 is served after an Advance is made5.8, the BorrowersBorrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavors 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 to the Loan during the Interest Period concerned.
Appears in 1 contract
Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.8 is served after an Advance is made, the BorrowersBorrower, the Agent and the Lenders shall use reasonable endeavors 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 to fund or continue to fund their or its Contribution during the Interest Period concerned.
Appears in 1 contract
Samples: Loan Agreement (Euronav NV)