Common use of Option to Prepay Clause in Contracts

Option to Prepay. If any additional amounts are required to be paid by the Borrower to the Bank by virtue of Clause 12.3, the Borrower shall be entitled, on giving the Bank not less than fourteen (14) days prior notice in writing, to prepay the Loan and accrued interest thereon, together with all other Outstanding Indebtedness, on the next Repayment Date. Any such notice, once given, shall be irrevocable.

Appears in 6 contracts

Samples: Agreement (Top Ships Inc.), Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (StealthGas Inc.)

AutoNDA by SimpleDocs

Option to Prepay. If any additional amounts are required to be paid by the Borrower Borrowers to the Bank by virtue of Clause 12.3, the Borrower Borrowers shall be entitled, on giving the Bank not less than fourteen (14) days prior notice in writing, to prepay the Loan and accrued interest thereon, together with all other Outstanding Indebtedness, on the next Repayment Date. Any such notice, once given, shall be irrevocable.

Appears in 3 contracts

Samples: Loan Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Costamare Inc.), Loan Agreement (FreeSeas Inc.)

Option to Prepay. If any additional amounts are required to be paid by the Borrower to the Bank Lender by virtue of Clause 12.3, the Borrower shall be entitled, on giving the Bank Lender not less than fourteen (14) days prior notice in writing, to prepay (without premium or penalty) the Loan and accrued interest thereon, together with all other Outstanding Indebtedness, on the next Repayment Date. Any such notice, once given, shall be irrevocable.

Appears in 2 contracts

Samples: Seanergy Maritime Holdings Corp., Seanergy Maritime Holdings Corp.

Option to Prepay. If any additional amounts are required to be paid by the Borrower to the Bank by virtue of Clause 12.3, the Borrower shall be entitled, on giving the Bank not less than fourteen three (143) days prior notice in writing, to prepay the Loan and accrued interest thereon, together with all other Outstanding Indebtedness, Indebtedness on the next Repayment Datetenth (10th) Banking Day from the date of receipt of such notice by the Bank. Any such notice, once given, shall be irrevocable.

Appears in 2 contracts

Samples: Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (NewLead Holdings Ltd.)

Option to Prepay. If any additional amounts are required to be paid by the Borrower Borrowers to the Bank by virtue of Clause 12.3, the Borrower Borrowers shall be entitled, on giving the Bank not less than fourteen five (145) days prior notice in writing, to prepay the Loan and accrued interest thereon, together with all other Outstanding Indebtedness, Indebtedness on the next Repayment Datefifth (5th) day from the date of receipt of such notice by the Bank. Any such notice, once given, shall be irrevocable.

Appears in 1 contract

Samples: Agreement (NewLead Holdings Ltd.)

AutoNDA by SimpleDocs

Option to Prepay. If any additional amounts are required to be paid by the Borrower to the Bank by virtue of Clause 12.312.02, the Borrower shall be entitled, on giving the Bank not less than fourteen (14) days prior notice in writing, to prepay the Loan and accrued interest thereon, together with all other Outstanding Indebtedness, on the next Repayment Date. Any such notice, once given, shall be irrevocable.

Appears in 1 contract

Samples: Supplemental Agreement (Diana Shipping Inc.)

Option to Prepay. If any additional amounts are required to be paid by the Borrower to the Bank by virtue of Clause 12.3, the Borrower shall be entitled, on giving the Bank not less than fourteen five (145) days prior notice in writing, to prepay the Loan and accrued interest thereon, together with all other Outstanding Indebtedness, Indebtedness on the next Repayment Datefifth (5th) day from the date of receipt of such notice by the Bank. Any such notice, once given, shall be irrevocable.

Appears in 1 contract

Samples: Agreement (NewLead Holdings Ltd.)

Option to Prepay. If any additional amounts are required to be paid by the Borrower Borrowers to the Bank by virtue of Clause 12.312.2, the Borrower Borrowers shall be entitled, on giving the Bank not less than fourteen (14) days prior notice in writing, to prepay the Loan and accrued interest thereon, together with all other Outstanding Indebtedness, on the next Repayment Date. Any such notice, once given, giver shall be irrevocable.

Appears in 1 contract

Samples: Agreement (Euroseas Ltd.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!