Common use of Notification of interest periods and default rates Clause in Contracts

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 39 contracts

Samples: Loan Agreement (Navios Maritime Containers Inc.), Facility Agreement (Navios Maritime Containers Inc.), Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.)

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Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower each relevant Security Party of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower such Security Party is liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 23 contracts

Samples: Loan Agreement (Dorian LPG Ltd.), Loan Agreement (Dorian LPG Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower Borrowers of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b7.3(b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 20 contracts

Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Acquisition CORP), Amending and Restating Deed

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s 's notification.

Appears in 20 contracts

Samples: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Paragon Shipping Inc.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower Borrowers of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 15 contracts

Samples: Loan Agreement (Global Ship Lease, Inc.), Supplemental Agreement (Navios Maritime Containers Inc.), Loan Agreement (Navios Maritime Containers Inc.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower Borrowers of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b7.3(b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Agent’s 's notification.

Appears in 13 contracts

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

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower Borrowers of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Agent’s 's notification.

Appears in 10 contracts

Samples: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Scorpio Bulkers Inc.), Loan Agreement (Scorpio Tankers Inc.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b7.3(b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 8 contracts

Samples: Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Capital Product Partners L.P.), Loan Agreement (Capital Product Partners L.P.)

Notification of interest periods and default rates. The Facility Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Facility Agent under Clause 7.3 and of each period selected by the Facility Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Facility Agent’s notification.

Appears in 3 contracts

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

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) 7.3 of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s 's notification.

Appears in 3 contracts

Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (EuroDry Ltd.), Loan Agreement (Euroseas Ltd.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that ClauseClause 7.3; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 2 contracts

Samples: Amending and Restating Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Acquisition CORP)

Notification of interest periods and default rates. The Facility Agent shall promptly notify the Lenders and the Borrower Borrowers of each interest rate determined by the Facility Agent under Clause 7.3 and of each period selected by the Facility Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Facility Agent’s notification.

Appears in 2 contracts

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

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders Lenders, the Swap Bank and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s 's notification.

Appears in 2 contracts

Samples: Amending and Restating Agreement, Amending and Restating Agreement (Golar LNG Partners LP)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 8.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 2 contracts

Samples: Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 (Calculation of default rate of interest) above and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 2 contracts

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

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower Borrowers of each interest rate determined by the Agent under Clause 7.3 (Calculation of default rate of interest) and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 1 contract

Samples: Loan Agreement (Euronav NV)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower Borrowers of each interest rate determined by the Agent under Clause 7.3 (Calculation of default rate of interest) above and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 1 contract

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

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 (Calculation of default rate of interest) and of each period Interest Period selected by the Agent for the purposes of paragraph (b) of Clause 7.3 (Calculation of default rate of interest) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Partners L.P.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower Borrowers of each interest rate determined by the Agent under Clause 7.3 7.2 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Agent’s 's notification.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 (Calculation of default rate of interest) and of each period selected by the Agent for the purposes of paragraph 7.3(b) (bCalculation of default rate of interest) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Acquisition Corp)

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Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 (Calculation of default rate of interest) and of each period Interest Period selected by the Agent for the purposes of paragraph 7.3(b) (bCalculation of default rate of interest) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s 's notification.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower each relevant Security Party of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower such Security Party is liable to pay such interest only with effect from the date of the Agent’s 's notification.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Bulkers Inc.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower Borrowers of each interest rate determined by the Agent under Clause 7.3 Clause7.3 (Calculation of default rate of interest) and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Partners L.P.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders Lenders, the Swap Banks and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 1 contract

Samples: Loan Agreement (Britannia Bulk Holdings Inc)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 7.2 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s 's notification.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower Borrowers of each interest rate determined by the Agent under Clause 7.3 (Calculation of default rate of interest) and of each period Interest Period selected by the Agent for the purposes of paragraph 7.3(b) (bCalculation of default rate of interest) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 1 contract

Samples: Loan Agreement (Castor Maritime Inc.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders Issuing Bank, the Banks and the Borrower Obligors of each interest rate determined by the Agent under Clause 7.3 8.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is Obligors are liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 1 contract

Samples: Guarantee Facility Agreement (Euronav NV)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 (Calculation of default rate of interest) and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s 's notification.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower Borrowers of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower Borrowers is liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 1 contract

Samples: Loan Agreement (GasLog Ltd.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower each relevant Security Party of each interest rate determined used by the Agent under Clause 7.3 and of each period selected by the Agent Majority Lenders for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower such Security Party is liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 1 contract

Samples: Second Lien Loan Agreement (Eagle Bulk Shipping Inc.)

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of Clause 7.3of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Agent’s 's notification.

Appears in 1 contract

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

Notification of interest periods and default rates. The Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Agent under Clause 7.3 and of each period selected by the Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is are liable to pay such interest only with effect from the date of the Agent’s notification.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Notification of interest periods and default rates. The Paying Agent shall promptly notify the Lenders and the Borrower of each interest rate determined by the Paying Agent under Clause 7.3 8.3 and of each period selected by the Paying Agent for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Paying Agent’s notification.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

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