Common use of Notice of variation of order of application Clause in Contracts

Notice of variation of order of application. The Lender may, by notice to the Borrower and the Security Parties, provide, at its sole discretion, for a different order of application from that set out in Clause 11.3(a) (Order of application) either as regards a specified sum or sums or as regards sums in a specified category or categories, without affecting the obligations of the Borrower to the Lender.

Appears in 5 contracts

Samples: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Performance Shipping Inc.), Loan Agreement (Performance Shipping Inc.)

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Notice of variation of order of application. The Lender may, by notice to the Borrower and the Security Parties, provide, at its sole discretion, for a different order of application from that set out in Clause 11.3(a) (Order of application) 11.3 either as regards a specified sum or sums or as regards sums in a specified category or categories, without affecting the obligations of the Borrower to the Lender.

Appears in 2 contracts

Samples: Loan Agreement (Seanergy Maritime Holdings Corp.), Loan Agreement (Seanergy Maritime Holdings Corp.)

Notice of variation of order of application. The Lender may, by notice to the Borrower and the Security Parties, provide, at its sole discretion, provide for a different order of application from that set out in Clause 11.3(a) (Order of application) 17.1 either as regards a specified sum or sums or as regards sums in a specified category or categories, without affecting the obligations of the Borrower to the Lender.

Appears in 2 contracts

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

Notice of variation of order of application. The Lender may, by notice to the Borrower and the Security Parties, provide, at its sole discretion, provide for a different order of application from that set out in Clause 11.3(a) (Order of application) 21.1 either as regards a specified sum or sums or as regards sums in a specified category or categories, without affecting the obligations of the Borrower to the Lender.

Appears in 1 contract

Samples: Loan Agreement (Knightsbridge Tankers LTD)

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Notice of variation of order of application. The Lender may, by notice to the Borrower and the Security Parties, provide, at its sole discretion, for a different order of application from that set out in Clause 11.3(a) (Order of application) either as regards a specified sum or sums or as regards sums in a specified category or categories, without affecting the obligations of the Borrower to the Lender.. 66 (J18-185622/C)

Appears in 1 contract

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.)

Notice of variation of order of application. The Lender may, by notice to the Borrower Borrowers and the Security Parties, provide, at its sole discretion, for a different order of application from that set out in Clause 11.3(a) (Order of application) either as regards a specified sum or sums or as regards sums in a specified category or categories, without affecting the obligations of the Borrower Borrowers to the Lender.

Appears in 1 contract

Samples: Loan Agreement (Imperial Petroleum Inc./Marshall Islands)

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