Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank under any of the Security Documents, the Bank must apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers: 6.9.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank under any of the Security Documents; 6.9.2 secondly, in or towards payment of any fees payable to the Bank under, or in relation to, the Security Documents which remain unpaid; 6.9.3 thirdly, in or towards payment to the Bank of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid; 6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid; 6.9.5 fifthly, in or towards payment to the Bank for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and 6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 may be varied by the Bank without any reference to, or consent or approval from, the Borrowers..
Appears in 6 contracts
Samples: Facility Agreement, Facility Agreement, Facility Agreement (Navios Maritime Acquisition CORP)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Agent and the Banks under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Agent under any of the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro rata basis, of any fees and accrued commitment commission payable to the Bank Arranger, the Agent or any of the other Creditors under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Banks, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank Banks, on a pro rata basis, of any principal in respect of the Loan amount which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank Banks, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid repaid;
6.9.6 sixthly, in or towards payment to a Swap Provider of any sums owing to it under the relevant Master Swap Agreement (and which amounts if sums are so payable owing under this Agreementboth Master Swap Agreements, proportionately as between the Swap Providers); and
6.9.6 sixthly6.9.7 seventhly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.9.2 to 6.9.6 may be varied by the Bank Agent if the Majority Banks so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 6 contracts
Samples: Loan Agreement (Aegean Marine Petroleum Network Inc.), Third Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Ninth Supplemental Agreement (Aegean Marine Petroleum Network Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Agent must apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank of any principal in respect repayment of the Loan which shall have become due but remains unpaidand payable;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). ; and The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.5 may be varied by the Bank Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 4 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement, Facility Agreement (Navios Maritime Acquisition CORP)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Agent must apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Arranger, the Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank of any principal in respect repayment of the Loan which shall have become due but remains unpaidand payable;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). ; and The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.5 may be varied by the Bank Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 3 contracts
Samples: Facility Agreement (Navios Maritime Holdings Inc.), Facility Agreement (Navios Maritime Holdings Inc.), Facility Agreement (Navios Maritime Acquisition CORP)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Lender from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Lender under any of the Security Documents, the Bank Lender must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 first, in or towards payment, on a pro-rata basis, payment of any unpaid costs and expenses of the Bank Lender under any of the Security Documents;
6.9.2 secondly, in or towards payment of any fees payable to the Bank Lender under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Lender of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank Lender of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank Lender for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 may be varied by the Bank without any reference to, or consent or approval from, the Borrowers...
Appears in 3 contracts
Samples: Facility Agreement, Facility Agreement (Navios Maritime Midstream Partners LP), Facility Agreement (Navios Maritime Midstream Partners LP)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank under Creditors or any of them under the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 firstfirstly, in or towards payment, on a pro-pro rata basis, of any unpaid costs and expenses of the Bank under any of Agent and the Security Agent under, or in relation to, the Security Documents;
6.9.2 secondly, in or towards payment of any fees payable to the Bank Agent or any other Creditor under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Banks, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank Banks, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the any Bank for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement;
6.9.6 sixthly, in or towards payment to the Swap Provider of any amounts owing to it under the Master Swap Agreement; and
6.9.6 sixthly6.9.7 seventhly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 this clause 6.9.3 to 6.9.6 6.9.7 may be varied by the Bank Agent if the Majority Banks so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 3 contracts
Samples: Loan Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (DryShips Inc.), Loan Agreement (Diana Containerships Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Agent and the Banks under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Agent under any of the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro rata basis, of any fees and accrued commitment commission payable to the Bank Arranger, the Agent or any of the other Creditors under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards (i) payment to the Bank Banks, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid, (ii) payment to the Banks, of any amount of principal which shall have become due under any of the Security Documents but remains unpaid and (iii) payment to the Swap Provider of any sums owing to it under the Master Swap Agreement and on a pro rata basis as between (i) to (iii) inclusive;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthlyBanks, in or towards payment to the Bank on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreementrepaid; and
6.9.6 sixthly6.9.5 fifthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.9.3 to 6.9.6 6.9.5 may be varied by the Bank Agent if the Majority Banks so direct, without any reference to, or consent or approval from, the Borrowers..Borrowers or any other Creditor.
Appears in 3 contracts
Samples: Supplemental Agreement (Quintana Shipping Ltd.), Supplemental Agreement (Quintana Shipping Ltd.), Loan Agreement (Quintana Shipping Ltd.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank under any of the Security Documents, the Bank must apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank under any of the Security Documents;
6.9.2 secondly, in or towards payment of any fees payable to the Bank under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 may be varied by the Bank without any reference to, or consent or approval from, the Borrowers...
Appears in 3 contracts
Samples: Facility Agreement (Navios Maritime Acquisition CORP), Facility Agreement (Navios Maritime Acquisition CORP), Facility Agreement (Navios Maritime Holdings Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Payment Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Payment Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Payment Agent must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Payment Agent, the Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Arrangers, the Payment Agent, the Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank Lenders, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains remain unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents (other than under or in relation to the Master Agreement) but remains unpaid; and
6.10.6 sixthly, in or towards payment to the Swap Banks of any other sum which shall have become due under the Master Agreements but remains unpaid (and, if more than one such sum so remains unpaid, on a to be applied pro rata basis)between the Swap Banks depending on their respective Settlement Amounts and Unpaid Amounts (as defined in the respective Master Agreements) under the Master Agreements which relate to this Agreement. The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.6 may be varied by the Bank Payment Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 2 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Agent and the Banks under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Agent under any of the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro rata basis, of any fees and accrued commitment commission payable to the Bank Arranger, the Agent or any of the other Creditors under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards (i) payment to the Bank Banks, of any accrued interest owing in respect which shall have become due under any of the Loan Security Documents but remains unpaid and (ii) payment to the Banks, of any amount of principal which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthlyBanks, in or towards payment to the Bank on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreementrepaid; and
6.9.6 sixthly6.9.5 fifthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.9.3 to 6.9.6 6.9.5 may be varied by the Bank Agent if the Majority Banks so direct, without any reference to, or consent or approval from, the Borrowers..Borrowers or any other Creditor.
Appears in 2 contracts
Samples: Loan Agreement (Quintana Shipping Ltd.), Loan Agreement (Quintana Shipping Ltd.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Arranger, the Security Agent and the Banks under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers pro rata against each Sub-Tranche and the Swap Exposure in or towards discharge of the obligations of the Borrowers under the Security Documents OR if a notice of an Event of Default has been served to the Borrowers by the Agent and whilst such Event of Default is continuing all such partial payments received by the Agent and/or the Security Agent under or pursuant to any of the Security Documents shall be applied in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowersmanner:
6.9.1 first, in or towards payment, on a pro-rata basis, payment of any all unpaid costs and expenses which may be owing to the Agent and/or the Security Agent and/or the Arranger and/or any of the Bank them under any of the Security Documents;
6.9.2 secondly, in or towards payment of any unpaid fees and commissions payable to the Bank under, or in relation to, Agent and/or the Security Documents which remain unpaidAgent and/or the Arranger and/or any of them under any of the Security Documents;
6.9.3 thirdly, in or towards payment to the Bank of any accrued arrears of interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaideach Sub-Tranche A;
6.9.4 fourthly, in or towards payment to the Bank repayment of any principal in respect of the Loan which shall have each Sub-Tranche A (whether same has become due but remains unpaidand payable or not);
6.9.5 fifthly, in or towards payment to the Bank for any loss suffered by reason of any such payment arrears of interest owing in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; andeach Sub-Tranche B;
6.9.6 sixthly, in or towards payment to the relevant person repayment of any other sum which shall have each Sub-Tranche B (whether same has become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basisand payable or not). The order of application set out in clauses 6.9.1 to 6.9.6 may be varied by the Bank without any reference to, or consent or approval from, the Borrowers..;
Appears in 2 contracts
Samples: Facility Agreement (Costamare Partners LP), Facility Agreement (Costamare Partners LP)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Payment Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Payment Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Payment Agent must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Payment Agent, the Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Arrangers, the Payment Agent, the Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank Lenders, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains remain unpaid;; and
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.6 may be varied by the Bank Payment Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 2 contracts
Samples: Facility Agreement, Facility Agreement (Navios Maritime Partners L.P.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Agent and the Banks under any of the Security Documents, the Bank must Agent shalt apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Agent under any of the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro rata basis, of any fees and accrued commitment commission payable to the Bank Arranger, the Agent or any of the other Creditors under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Banks, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank Banks, on a pro rata basis, of any principal in respect of the Loan amount which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank Banks, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; andrepaid;
6.9.6 sixthly, in or towards payment to a Swap Provider of any sums owing to it under the relevant person of any other sum which shall have become due Master Swap Agreement (and if sums are owing under any of both Master Swap Agreements, proportionately as between the Security Documents but remains unpaid (Swap Providers); and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 may be varied by the Bank without any reference to, or consent or approval from, the Borrowers..
Appears in 2 contracts
Samples: Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Supplemental Agreement (Aegean Marine Petroleum Network Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Agent must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest and interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank Lenders, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains unpaid and in or towards payment to the Swap Bank of any sum which shall have become due under the Master Agreement but remains unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part Loan which shall have become due under any of the Loan repaid and which amounts are so payable under this AgreementSecurity Documents but remains unpaid; and
6.9.6 6.10.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.6 may be varied by the Bank Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 2 contracts
Samples: Facility Agreement (EuroDry Ltd.), Facility Agreement (Euroseas Ltd.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Agent and the Lenders under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent, the Security Agent and the Swap Provider under any of the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro rata basis, of any fees and accrued commissions payable to either Arranger, the Bank Agent or any of the other Creditors (other than the Swap Provider) under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Senior Lenders, on a pro rata basis, of any accrued interest owing in respect of the Senior Loan which shall have become due under any of the Security Documents (other than the Master Swap Agreement) but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank Senior Lenders, on a pro rata basis, of any principal in respect of the Loan Senior Loan, which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank Junior Lenders, on a pro rata basis, of any accrued interest in respect of the Junior Loan which shall have become due under any of the Security Documents (other than the Master Swap Agreement) but remains unpaid;
6.9.6 sixthly, in or towards payment to the Junior Lenders, on a pro rata basis, of any principal in respect of the Junior Loan, which shall have become due but remains unpaid;
6.9.7 seventhly, in or towards payment to the Cash Collateral Account of any amounts so payable pursuant to the terms of this Agreement or the other Security Documents;
6.9.8 eighthly, in or towards payment to the Lenders, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement;
6.9.9 ninthly, in or towards payment to the Swap Provider of any sums owing to it under the Master Swap Agreement; and
6.9.6 sixthly6.9.10 finally, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 may be varied by the Bank without any reference to, or consent or approval from, the Borrowers...
Appears in 2 contracts
Samples: Loan Agreement (Seanergy Maritime Holdings Corp.), Loan Agreement (Seanergy Maritime Holdings Corp.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Creditors or any of them under any of the Security Documents, then the Bank must Agent shall apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 firstfirstly, in or towards payment, on a pro-pro rata basis, of any unpaid costs and expenses of the Bank Creditors or any of them under any of the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro rata basis, of any fees payable to the Arranger, the Agent, the Issuing Bank or any other Creditor under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Banks, on a pro rata basis, of any accrued commissions payable under clause 5.1 which shall have become due but remain unpaid;
6.9.4 fourthly, in or towards payment to the Banks and the Issuing Bank, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly6.9.5 fifthly, in or towards payment to the Bank Banks and the Issuing Bank, on a pro rata basis, of any amounts of principal in respect of the Loan or owing under clauses 2.10.2 or 4.1.1, which shall have become due but remains unpaid;
6.9.5 fifthly6.9.6 sixthly, in or towards payment to the any Bank for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan principal so repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly6.9.7 seventhly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.9.3 to 6.9.6 6.9.7 may be varied by the Bank Agent if all the Banks so direct without any reference to, or consent or approval from, from the Borrowers..Borrower.
Appears in 2 contracts
Samples: Facility Agreement (Aegean Marine Petroleum Network Inc.), Facility Agreement (Aegean Marine Petroleum Network Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Facility Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Facility Agent, the Security Agent, the Lenders and the Swap Bank under any of the Security Documents, the Bank must Facility Agent shall apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid fees, costs and expenses of the Bank Facility Agent and the Security Agent under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Facility Agent, of any accrued interest owing in respect proportion of the Loan which shall have become due agency fee payable under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan clause 5.1.3 (Agency Fee) which shall have become due but remains unpaid;
6.9.5 fifthly6.10.3 thirdly, in or towards payment to the Bank for any loss suffered by reason Lenders and the Swap Bank, on a pro-rata basis, of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and accrued interest which amounts are so payable shall have become due under this Agreement; andAgreement and the Master Swap Agreement but remains unpaid;
6.9.6 sixthly6.10.4 fourthly, in or towards payment to the relevant person Lenders and the Swap Bank, on a pro-rata basis, of any principal which shall have become due under this Agreement and the Master Swap Agreement but remains unpaid; and
6.10.5 fifthly, in or towards payment of any other sum which shall have become due under any of the Security Documents this Agreement but remains unpaid (and, if more than one such sum so remains unpaid, on a pro pro-rata basis). The order of application set out in clauses 6.9.1 this clause 6.10.1 to 6.9.6 6.10.5 may be varied by the Bank without any reference to, or consent or approval from, Facility Agent if all the Borrowers..Lenders so direct.
Appears in 2 contracts
Samples: Facilities Agreement, Loan Agreement (Golar LNG Partners LP)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Creditors or any of them under any of the Security Documents, the Bank must Agent shall upon receiving the same, apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 first, in or towards payment, on a pro-pro rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Agent under any of the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro rata basis, of any fees payable to the Bank Arranger, the Agent or any of the other Creditors under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Banks, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank Banks, on a pro rata basis, of any principal in respect part of the Loan which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank Banks, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid prepaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The Following the occurrence of an Event of Default which is continuing, the order of application set out in clauses 6.9.1 6.9.3 to 6.9.6 may be varied by the Bank Agent if the Majority Banks so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 2 contracts
Samples: Loan Agreement (Seanergy Maritime Holdings Corp.), Second Supplemental Agreement (Seanergy Maritime Holdings Corp.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Agent must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank of any principal in respect repayment of the Loan which shall have become due but remains unpaidand payable;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). ; and The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.5 may be varied by the Bank Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 2 contracts
Samples: Facility Agreement (Pyxis Tankers Inc.), Facility Agreement for a Term Loan Facility (Navios Maritime Acquisition CORP)
Partial payments. If, on any date on which (a) If the Agent receives a payment that is insufficient to discharge all the amounts then due to be made and payable by an Obligor under the Borrowers under any of the Security Finance Documents, the amount received by the Bank from the Borrowers falls short of the total amount of the Agent shall apply that payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank under any of the Security Documents, the Bank must apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers that Obligor under the Security Finance Documents in the following order, notwithstanding order on the Repayment Date of the Senior Loan of any appropriation made, or purported to be made, by the BorrowersFacility:
6.9.1 (i) first, in or towards payment, on a pro-payment pro rata basis, of any unpaid fees, costs and expenses of the Bank Agent under any of the Security Finance Documents;
6.9.2 (ii) secondly, in or towards payment pro rata of any fees payable to interest, accrued fee (other than as provided in (i) above) or commission in respect of the Bank under, or in relation to, the Security Documents which remain unpaidSenior Loan of each Facility due but unpaid under this Agreement;
6.9.3 (iii) thirdly, in or towards payment to the Bank of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank pro rata of any principal in respect of the Senior Loan which shall have become of each Facility due but remains unpaidunpaid under this Agreement;
6.9.5 fifthly(iv) fourthly, in or towards payment to the Bank for pro rata of any loss suffered by any of the Lenders by reason of any such payment in respect of principal not being effected on the last day of an Interest Payment Date relating to the part Period in respect of the whole of the Senior Loan repaid and which of each Facility;
(v) fifthly, in or towards payment pro rata of any amounts are so payable by the Borrowers under this any Swap Agreement; and;
6.9.6 (vi) sixthly, in or towards payment pro rata of any interest, accrued fee (other than as provided in (i) above) or commission in respect of the Mezzanine Loan of each Facility due but unpaid under this Agreement (which shall be capitalised if unpaid due to insufficient Surplus Cashflow);
(vii) seventhly, in or towards payment pro rata of (aa) any principal in respect of the relevant person Mezzanine Loan of each Facility due but unpaid under this Agreement and (bb) any principal in respect of the Shareholder's Loan provided always that such payment shall be made on a pari passu basis and in the ratio of 52:48;
(viii) eighthly, in or towards payment pro rata of any loss suffered by any of the Lenders by reason of any such payment in respect of principal not being effected on the last day of an Interest Period in respect of the whole of the Mezzanine Loan of each Facility; and
(ix) ninthly, in or towards payment pro rata of any other sum which shall have become due but unpaid under any of the Security Documents but remains unpaid Finance Documents.
(andb) The Agent shall, if more than one such sum so remains unpaiddirected by the Majority Lenders, on a pro rata basis). The vary the order of application set out in clauses 6.9.1 paragraphs (a)(ii) to 6.9.6 may be varied by the Bank without (v) above.
(c) Paragraphs (a) and (b) above will override any reference toappropriation made, or consent or approval fromdirected to be applied in some other manner, the Borrowers..by an Obligor.
Appears in 2 contracts
Samples: Facility Agreement (Seanergy Maritime Holdings Corp.), Facility Agreement (Seanergy Maritime Holdings Corp.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Agent must apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent, the Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank Lenders, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains remain unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents (other than under or in relation to the Master Agreement) but remains unpaid (unpaid; and
6.10.6 sixthly, if more than one such in or towards payment to the Swap Banks of any other sum so which shall have become due under the Master Agreement but remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.6 may be varied by the Bank Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 1 contract
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Trustee and the Banks under any of the Security Documents, the Bank Agent must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Arranger, the Agent or any of the other Creditors under, or in relation to, the Security Documents (other than under or in relation to the Master Agreement) which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Banks, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank Banks, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank Banks, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and;
6.9.6 6.10.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents (other than under or in relation to the Master Agreement) but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis); and
6.10.7 seventhly, in or towards payment to the Swap Bank of any sum which shall have become due under the Master Agreement but remains unpaid. The order of application set out in clauses 6.9.1 6.10.2 to 6.9.6 6.10.5 may be varied by the Bank Agent if the Banks so direct, without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 1 contract
Samples: Loan Agreement (StealthGas Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Agent must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent, the Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank Lenders, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains remain unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents (other than under or in relation to the Master Agreement) but remains unpaid (unpaid; and
6.10.6 sixthly, if more than one such in or towards payment to the Swap Banks of any other sum so which shall have become due under the Master Agreement but remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.6 may be varied by the Bank Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 1 contract
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Creditors or any of them under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 firstfirstly, in or towards payment, on a pro-rata basis, of any unpaid costs costs, expenses and expenses of fees owing to the Bank under any of Arranger, the Agent or the Security Agent under, or in relation to, the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro-rata basis, of any unpaid costs, expenses and fees payable owing to the Banks or the Account Bank under, under or in relation to, the Security Documents which remain unpaidDocuments;
6.9.3 thirdly, in or towards payment to the Bank Banks, on a pro-rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents (other than the Master Swap Agreement) but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthlyBanks, in or towards payment to the Bank on a pro-rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid prepaid and which amounts are so payable under this Agreement; and;
6.9.5 fifthly, in or towards payment to the Banks, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.6 sixthly, in or towards payment to the Swap Provider of any sums owing to it under the Master Swap Agreement; and
6.9.7 seventhly, towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro pro-rata basis). The order of application set out in clauses 6.9.1 6.9.3 to 6.9.6 6.9.5 may be varied by the Bank Agent if the Banks so direct, without any reference to, or consent or approval from, from the Borrowers...
Appears in 1 contract
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Lender from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Lender under any of the Security Documents, the Bank Lender must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 first, in or towards payment, on a pro-rata basisin such order as the Lender may decide, of any unpaid costs and expenses of the Bank Lender under any of the Security Documents;
6.9.2 secondly, in or towards payment of any fees payable to the Bank Lender under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Lender of any accrued default interest owing pursuant to clause 3.3 but remains unpaid;
6.9.4 fourthly, in or towards payment to the Lender of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank Lender of any due but unpaid Repayment Instalments; and
6.9.6 sixthly, in or towards payment to the Lender, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of Agreement and any other sum relating to the Loan which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 may be varied by the Bank Lender without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 1 contract
Samples: Loan Agreement (EuroDry Ltd.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank under Creditors or any of them under the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 firstfirstly, in or towards payment, on a pro-pro rata basis, of any unpaid costs and expenses of any Arranger, the Bank under Agent, the Security Agent or any of other Creditor under, or in relation to, the Security Documents;
6.9.2 secondly, in or towards payment of any fees or commitment commission payable to any Arranger, the Bank Agent or any other Creditor under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Banks, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank Banks, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the any Bank for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement;
6.9.6 sixthly, in or towards payment to the Swap Provider of any amounts owing to it under the Master Swap Agreement; and
6.9.6 sixthly6.9.7 seventhly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.9.3 to 6.9.6 6.9.7 may be varied by the Bank Agent if the Majority Banks so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 1 contract
Samples: Loan Agreement (Diana Shipping Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers a Borrower under any of the Security Documents, the amount received by the Bank Lender from the Borrowers such Borrower falls short of the total amount of the payment due to be made by the Borrowers such Borrower on such date then, without prejudice to any rights or remedies available to the Bank Lender under any of the Security Documents, the Bank Lender must apply the amount actually received from the Borrowers such Borrower in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 8.9.1 first, in or towards payment, on a pro-rata basisin such order as the Lender may decide, of any unpaid costs and expenses of the Bank Lender under any of the Security Documents;
6.9.2 8.9.2 secondly, in or towards payment of any fees payable to the Bank Lender under, or in relation to, the Security Documents which remain unpaid;
6.9.3 8.9.3 thirdly, in or towards payment to the Bank Lender of any accrued default interest owing pursuant to Clause 4.7 (Default Interest) but remains unpaid;
8.9.4 fourthly, in or towards payment to the Lender of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 8.9.5 fifthly, in or towards payment to the Bank for any loss suffered by reason Lender of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreementdue but unpaid Repayment Instalments; and
6.9.6 8.9.6 sixthly, in or towards payment to the relevant person Lender of any other sum relating to the Loan or which is payable under this Agreement which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 Clauses 8.9.1 to 6.9.6 8.9.6 may be varied by the Bank Lender without any reference to, or consent or approval from, the Borrowers..any Borrower or any Security Party.
Appears in 1 contract
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Agent must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent, the Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank Lenders, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains remain unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents (other than under or in relation to the Master Agreement) but remains unpaid (unpaid; and
6.10.6 sixthly, if more than one such in or towards payment to the Swap Bank of any other sum so which shall have become due under the Master Agreement but remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.6 may be varied by the Bank Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 1 contract
Partial payments. 10.9.1 If, on any date on which a payment is due to be made by the Borrowers a Security Party under any of the Security Finance Documents, the amount received by the Bank Facility Agent from the Borrowers that Security Party falls short of the total amount of the payment due to be made by the Borrowers that Security Party on such date then, without prejudice to any rights or remedies available to the Bank Facility Agent, the Security Agent and the Lenders under any of the Security Finance Documents, the Bank must Facility Agent shall apply the amount actually received from that Security Party (or from the Borrowers Security Agent) in or towards discharge of the obligations of the Borrowers under the Security those Finance Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowersany Security Party:
6.9.1 first(a) firstly, in or towards payment, on a pro-rata basis, of any unpaid fees, costs and expenses of the Bank under Arranger, the Facility Agent and the Security Agent or any of the Security Documents;
6.9.2 secondly, in or towards payment of any fees payable to the Bank them under, or in relation to, any of the Security Documents which remain unpaidFinance Documents;
6.9.3 (b) secondly, in or towards payment, on a pro-rata basis, of any unpaid fees, commitment commission, costs and expenses of the Lenders or any of them under or in relation to, the Finance Documents;
(c) thirdly, in or towards payment to the Bank Lenders, on a pro-rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Finance Documents but remains unpaid;
6.9.4 (d) fourthly, in or towards payment to the Bank Lenders, on a pro-rata basis, of any amount of principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 (e) fifthly, in or towards payment to the Bank for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Finance Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro pro-rata basis). .
10.9.2 The order of application set out in clauses 6.9.1 to 6.9.6 may be varied by the Bank without any reference to, or consent or approval from, the Borrowers..10.9.1
Appears in 1 contract
Samples: On Delivery Facility Agreement (Paragon Shipping Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documentsthis Agreement, the amount received by the Bank Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Agent and the Lenders under any of the Security Documentsthis Agreement, the Bank must Agent shall apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents this Agreement in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 8.12.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank under any of the Security Documents;
6.9.2 secondly, in or towards payment of any fees payable to the Bank under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Lead Arrangers, of any accrued interest owing in respect portion of the Loan which shall have become due amendment fee payable under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan clause 7.1.1 which shall have become due but remains unpaid;
6.9.5 8.12.2 secondly, in or towards payment to the Finance Parties, on a pro rata basis, of any unpaid fees, costs and expenses of the Finance Parties under this Agreement and any portion of the agency fee payable under clause 7.1.2 which shall have become due but remains unpaid;
8.12.3 thirdly, in or towards payment to the Lenders, on a pro rata basis, of any accrued commitment commission payable under clause 7.1.3 which shall have become due but remains unpaid;
8.12.4 fourthly, in or towards payment to the Lenders, on a pro rata basis, of any accrued interest and fees which shall have become due but remains unpaid;
8.12.5 fifthly, in or towards payment to the Bank for any loss suffered by reason Lenders, on a pro rata basis, of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; andshall have become due but remains unpaid;
6.9.6 8.12.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 this clause 8.12 may be varied by the Bank without any reference to, or consent or approval from, the Borrowers..Agent if all Lenders so direct.
Appears in 1 contract
Samples: Loan Agreement (Telewest Global Inc)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security DocumentsDocuments(the “due amount”), the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date is less than the full due amount then, without prejudice to any rights or remedies available to the Bank Agent, the Security Trustee, the Security Trustee and the Lenders under any of the Security Documents, the Bank Agent must apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Banks or any of them under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Arranger, the Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank Lenders, on a pro rata basis according to their respective Contributions, of any principal in respect of the Loan which shall have become due and payable but remains unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank Lenders, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, 6.10.6 sixthly in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.6 may be varied by the Bank Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 1 contract
Samples: Facility Agreement for a Term Loan Facility (Navios Maritime Partners L.P.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Lender from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Lender under any of the Security Documents, the Bank Lender must apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Lender under any of the Security Documents;
6.9.2 secondly, in or towards payment of any fees payable to the Bank Lender under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Lender of any accrued interest owing in respect of the Loan or equivalent amount payable under the Master Agreement which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank Lender of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank Lender for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.9.2 to 6.9.6 6.95 may be varied by the Bank Lender without any reference to, or consent or approval from, the Borrowers...
Appears in 1 contract
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Agent must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to either Arranger, the Bank Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan and the Revolving Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank Lenders, on a pro rata basis, of any principal in respect of the Loan and any Revolving Advances which shall have become due but remains remain unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part of Loan or the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum Revolving Facility which shall have become due under any of the Security Documents (other than under or in relation to the Master Agreement) but remains unpaid; and
6.10.6 sixthly, in or towards payment to the Swap Banks of any other sum which shall have become due under the Master Agreements but remains unpaid (and, if more than one such sum so remains unpaid, on a to be applied pro rata basis)between the Swap Banks depending on their respective Settlement Amounts and Unpaid Amounts (as defined in the respective Master Agreements) under the Master Agreements which relate to this Agreement; and
6.10.7 seventhly, in or towards payment to the Swap Banks of any other sum which shall have become due under the Master Agreements but remains unpaid to be applied pro rata between the Swap Banks depending on their respective Settlement Amounts and Unpaid Amounts (as defined in the respective Master Agreements) under the Master Agreements which do not relate to this Agreement. The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.6 may be varied by the Bank Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 1 contract
Partial payments. 11.9.1 If, on any date on which a payment is due to be made by the Borrowers a Security Party under any of the Security Finance Documents, the amount received by the Bank Facility Agent from the Borrowers that Security Party falls short of the total amount of the payment due to be made by the Borrowers that Security Party on such date then, without prejudice to any rights or remedies available to the Bank Facility Agent, the Security Agent and the Lenders under any of the Security Finance Documents, the Bank must Facility Agent shall apply the amount actually received from that Security Party (or from the Borrowers Security Agent) in or towards discharge of the obligations of the Borrowers under the Security those Finance Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowersany Security Party:
6.9.1 first(a) firstly, in or towards payment, on a pro-rata basis, of any unpaid fees, costs and expenses of the Bank under Arrangers, the Facility Agent and the Security Agent or any of the Security Documents;
6.9.2 secondly, in or towards payment of any fees payable to the Bank them under, or in relation to, any of the Security Documents which remain unpaidFinance Documents;
6.9.3 (b) secondly, in or towards payment, on a pro-rata basis, of any unpaid fees, commitment commission, costs and expenses of the Lenders or any of them under or in relation to, the Finance Documents;
(c) thirdly, in or towards payment to the Bank Lenders, on a pro-rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Finance Documents but remains unpaid;
6.9.4 (d) fourthly, in or towards payment to the Bank Lenders, on a pro-rata basis, of any amount of principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 (e) fifthly, in or towards payment to the Bank for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Finance Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro pro-rata basis). .
11.9.2 The order of application set out in clauses 6.9.1 11.9.1(b) to 6.9.6 11.9.1(e) may be varied by the Bank Facility Agent if the Majority Lenders so directs, without any reference to, or consent or approval from, from the Borrowers...
Appears in 1 contract
Samples: On Delivery Buyer Credit Facility Agreement (DryShips Inc.)
Partial payments. Iflf, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Creditors or any of them under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 firstfirstly, in or towards payment, on a pro-rata basis, of any unpaid costs costs, expenses and expenses of fees owing to the Bank under any of Arranger, the Agent or the Security Agent under, or in relation to, the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro-rata basis, of any unpaid costs, expenses and fees payable owing to the Banks or the Account Bank under, under or in relation to, the Security Documents which remain unpaidDocuments;
6.9.3 thirdly, in or towards payment to the Bank Banks, on a pro-rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents (other than the Master Swap Agreement) but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthlyBanks, in or towards payment to the Bank on a pro-rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid prepaid and which amounts are so payable under this Agreement; and;
6.9.5 fifthly, in or towards payment to the Banks, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.6 sixthly, in or towards payment to the Swap Provider of any sums owing to it under the Master Swap Agreement; and
6.9.7 seventhly, towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro pro-rata basis). The order of application set out in clauses 6.9.1 6.9.3 to 6.9.6 6.9.5 may be varied by the Bank Agent if the Banks so direct, without any reference to, or consent or approval from, from the Borrowers..Borrower.
Appears in 1 contract
Samples: Loan Agreement (Diana Shipping Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Agent and the Banks under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of any Arranger, the Agent, the Security Agent, the Issuing Bank and the Swap Provider under any of the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro rata basis, of any fees and accrued commissions payable to any Arranger, the Bank Agent or any of the other Creditors (other than the Swap Provider) under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Banks (including Guarantee Banks) and the Issuing Bank, on a pro rata basis, of any accrued interest owing in respect of the Loan or in respect of any amounts owing under clauses 2.7.1 or 2.7.3 which shall have become due under any of the Security Documents (other than the Master Swap Agreement) but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank Banks (including Guarantee Banks) and the Issuing Bank, on a pro rata basis, of any principal in respect of the Loan or owing under clauses 2.7.1 or 2.7.3, which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank for any loss suffered by reason Cash Collateral Account of any such payment in respect of principal not being effected on an Interest Payment Date relating amounts so payable pursuant to the part terms of this Agreement or the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 may be varied by the Bank without any reference to, or consent or approval from, the Borrowers..Documents;
Appears in 1 contract
Samples: Facility Agreement (Costamare Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Payment Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Payment Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Payment Agent must apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Payment Agent, the Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Arranger, the Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards repayment of the Loan which have become due and payable and in or towards payment to the Swap Bank of any principal in respect of the Loan sum which shall have become due under the Master Agreement but remains unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). ; and 21 Table of Contents The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.5 may be varied by the Bank Payment Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 1 contract
Samples: Facility Agreement (Navios Maritime Acquisition CORP)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Agent and the Banks under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Agent under any of the Security DocumentsDocuments (other than the Master Swap Agreements);
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Arranger, the Agent or any of the other Creditors under, or in relation to, the Security Documents (other than the Master Swap Agreements) which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Banks, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents (other than the Master Swap Agreements) but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank Banks, on a pro rata basis, of any principal amount in respect of the Loan which shall have become due but remains unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank Banks, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and;
6.9.6 6.10.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents (other than the Master Swap Agreements) but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis); and
6.10.7 seventhly, in or towards payment to a Swap Provider of any sums owing to it under the relevant Master Swap Agreement (and if any sums are owing under both Master Swap Agreements, as between the Swap Providers, on a pro rata basis). The order of application set out in clauses 6.9.1 6.10.2 to 6.9.6 6.10.6 may be varied by the Bank without any reference to, or consent or approval from, Agent if the Majority Banks so direct with prior written notice by the Agent to the Borrowers...
Appears in 1 contract
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Agent and the Banks under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Security. Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Agent under any of the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro rata basis, of any fees and accrued commitment commission payable to the Bank Arranger, the Agent or any of the other Creditors under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Banks, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank Banks, on a pro rata basis, of any principal in respect of the Loan amount which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank Banks, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; andrepaid;
6.9.6 sixthly, in or towards payment to the relevant person Swap Provider of any other sum which shall have become due sums owing to it under any of the Security Documents but remains unpaid (Master Swap Agreement; and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 may be varied by the Bank without any reference to, or consent or approval from, the Borrowers..
Appears in 1 contract
Samples: Second Supplemental Agreement (Aegean Marine Petroleum Network Inc.)
Partial payments. If, :
(a) on any date on which a payment is due to be made by the Borrowers any Obligor under any of the Security Documentsthis Agreement, the amount received by the Bank Facility Agent from the Borrowers such Obligor falls short of the total amount of the payment due to be made by the Borrowers such Obligor on such date; or
(b) on any date thenon which the Facility Agent receives or recovers any payment from an Obligor or otherwise receives any amount representing proceeds of realisations or other recoveries under any of the Finance Documents, the amount of such payment or other receipt falls short of the total amount owing to the Finance Parties under this Agreement on such date, then (in any such case), without prejudice to any rights or remedies available to the Bank Finance Parties under any of the Security Finance Documents, the Bank must Facility Agent shall apply the amount actually received from the Borrowers by it in or towards discharge of the obligations of the Borrowers such Obligor under the Security Documents this Agreement in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowerssuch Obligor:
6.9.1 (i) first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Facility Agent or the Arrangers under any of the Security Documentsthis Agreement;
6.9.2 (ii) secondly, in or towards payment to the Banks, on a pro-rata basis, of any fees payable amount owing to the Bank under, or in relation to, the Security Documents which remain unpaidBanks under clause 20.2 (Indemnity from Banks);
6.9.3 (iii) thirdly, in or towards payment to the Bank Facility Agent, of any accrued interest owing in respect portion of the Loan fees payable under clause 7.1(a) (Arrangement, underwriting, participation and agency fees) which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 (iv) fourthly, in or towards payment to the Bank Facility Agent, on a pro-rata basis, of any principal in respect portion of the Loan fees payable under clause 7.1(b) (Arrangement, underwriting, participation and agency fees) which remains unpaid;
(v) fifthly, in or towards payment to the Banks, on a pro-rata basis, of any accrued commitment commission payable under clause 7.2 (Commitment fees) which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 (vi) sixthly, in or towards payment to the relevant person Banks, on a pro-rata basis, of any accrued interest, Letter of Credit commission and (in the case of the Issuing Bank) Letter of Credit fronting fees or commission which shall have become due but remain unpaid, but so that any amount payable by virtue of clause 8.5 (Grossing-up for Taxes) shall be excluded;
(vii) seventhly, in or towards payment to the Banks, on a pro-rata basis, of any principal which shall have become due but remains unpaid;
(viii) eighthly, in or towards payment to any such Banks, on a pro-rata basis, of any amount payable to any Banks by virtue of clause 8.5 (Grossing-up for Taxes) which remains unpaid; and
(ix) ninthly, in or towards payment of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro pro-rata basis). The order Each reference in clause 8.9(i) to (ix) (inclusive) to a category of application set out unpaid sums shall include interest thereon payable in clauses 6.9.1 accordance with this Agreement (including, without limitation, default interest under clause 5.4 (Interest on unpaid sums)). Accordingly, clause 8.9(vi) shall be construed as referring to 6.9.6 may be varied by interest on principal and accrued interest thereon which remain unpaid to the Bank without any reference to, or consent or approval from, the Borrowers..extent due.
Appears in 1 contract
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Lender from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Lender under any of the Security Documents, the Bank Lender must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 first, in or towards payment, on a pro-rata basisin such order as the Lender may decide, of any unpaid costs and expenses of the Bank Lender under any of the Security Documents;
6.9.2 secondly, in or towards payment of any fees payable to the Bank Lender under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank of any accrued interest owing in respect of the Loan which shall have become (starting with default interest) and fees due but unpaid under any of the Security Documents but remains unpaid;this Agreement
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;unpaid to the Lender under this Agreement; and
6.9.5 fifthly, in or towards payment to the Bank for any loss suffered by reason Lender, on a pro rata basis, of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid Break Costs and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 6.9.5 may be varied by the Bank Lender without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 1 contract
Samples: Loan Agreement (Pyxis Tankers Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Agent and the Banks under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Agent under any of the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro rata basis, of any fees and accrued commitment commission payable to the Bank Arranger, the Agent or any of the other Creditors under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Banks, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank Banks, on a pro rata basis, of any principal in respect of the Loan amount which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank Banks, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable repaid;
6.9.6 sixthly, in or towards payment to the Swap Provider of any sums owing to it under this the Master Swap Agreement; and
6.9.6 sixthly6.9.7 seventhly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.9.2 to 6.9.6 may be varied by the Bank Agent if the Majority Banks so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 1 contract
Samples: Loan Agreement (Aegean Marine Petroleum Network Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Agent and the Banks under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Agent under any of the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro rata basis, of any fees and accrued commitment commission payable to the Bank Arranger, the Agent or any of the other Creditors under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Banks, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank Banks, on a pro rata basis, of any principal in respect of the Loan amount which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank Banks, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; andrepaid;
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis); and
6.9.7 seventhly (but subject to the provisions of each Manager’s Undertaking), in or towards payment of any fees and expenses owing by any of the Borrowers to the Manager pursuant to the relevant Management Agreement. The order of application set out in clauses 6.9.1 6.9.2 to 6.9.6 may be varied by the Bank Agent if the Majority Banks so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 1 contract
Samples: Loan Agreement (Euronav NV)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Creditors or any of them under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 firstfirstly, in or towards payment, on a pro-rata basis, of any unpaid costs costs, expenses and expenses of fees owing to the Bank under any of Arranger, the Agent or the Security Agent under, or in relation to, the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro-rata basis, of any unpaid costs, expenses and fees payable owing to the Banks or the Account Bank under, under or in relation to, the Security Documents which remain unpaidDocuments;
6.9.3 thirdly, in or towards payment to the Bank Banks, on a pro-rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthlyBanks, in or towards payment to the Bank on a pro-rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid prepaid and which amounts are so payable under this Agreement;
6.9.5 fifthly, in or towards payment to the Banks, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains unpaid; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro pro-rata basis). The order of application set out in clauses 6.9.1 6.9.3 to 6.9.6 6.9.5 may be varied by the Bank Agent if the Banks so direct, without any reference to, or consent or approval from, from the Borrowers..Borrower.
Appears in 1 contract
Samples: Loan Agreement (DryShips Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the 24 payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Trustee, the Security Trustee and the Lenders under any of the Security Documents, the Bank Agent must apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Arranger, the Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards repayment of the Loan which have become due and payable and in or towards payment to the Swap Bank of any principal in respect of the Loan sum which shall have become due under the Deutscher Rahmenvertrag but remains unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for any loss suffered by reason Lenders, on a pro rata basis, of any such payment in respect of principal not being effected on an Interest Payment Date Break Costs and any other sum relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). ; and The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.5 may be varied by the Bank Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 1 contract
Samples: Facility Agreement (Navios Maritime Acquisition CORP)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers any Borrower under any of the Security Documents, the amount received by the Bank Lender from the Borrowers such Borrower falls short of the total amount of the payment due to be made by the Borrowers such Borrower on such date then, without prejudice to any rights or remedies available to the Bank Lender under any of the Security Documents, the Bank Lender must apply the amount actually received from the Borrowers that Borrower in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowersany Borrower:
6.9.1 first, in or towards payment, on a pro-rata basisin such order as the Lender may decide, of any unpaid costs and expenses of the Bank Lender under any of the Security Documents;
6.9.2 secondly, in or towards payment of any fees payable to the Bank Lender under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Lender of any accrued default interest owing pursuant to clause 3.4 but remains unpaid;
6.9.4 fourthly, in or towards payment to the Lender of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank for any loss suffered by reason Lender of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreementdue but unpaid Repayment Instalments; and
6.9.6 sixthly, in or towards payment to the relevant person Lender, on a pro rata basis, of any Break Costs and any other sum relating to the Loan which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 may be varied by the Bank Lender without any reference to, or consent or approval from, the Borrowers...
Appears in 1 contract
Samples: Facility Agreement (Euroseas Ltd.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers a Borrower under any of the Security Documentsthis Agreement, the amount received by the Bank Agent from the Borrowers such Borrower falls short of the total amount of the payment due to be made by the Borrowers such Borrower on such date then, without prejudice to any rights or remedies available to the Bank Agent and the Lenders under any of the Security Documentsthis Agreement, the Bank must Agent shall apply the amount actually received from the Borrowers relevant Borrower in or towards discharge of the obligations of the Borrowers such Borrower under the Security Documents this Agreement in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowerssuch Borrower:
6.9.1 9.12.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank under any of the Security Documents;
6.9.2 secondly, in or towards payment of any fees payable to the Bank under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Lead Arrangers, of any accrued interest owing in respect portion of the Loan which shall have become due front end fee payable under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan clause 8.1.1 which shall have become due but remains unpaid;
6.9.5 9.12.2 secondly, in or towards payment to the Finance Parties, on a pro rata basis, of any unpaid fees, costs and expenses of the Finance Parties under this Agreement and any portion of the agency fee payable under clause 8.1.2 which shall have become due but remains unpaid;
9.12.3 thirdly, in or towards payment to the Lenders, on a pro rata basis, of any accrued commitment commission payable under clause 8.1.3 which shall have become due but remains unpaid;
9.12.4 fourthly, in or towards payment to the Lenders, on a pro rata basis, of any accrued interest and fees which shall have become due but remains unpaid;
9.12.5 fifthly, in or towards payment to the Bank for any loss suffered by reason Lenders, on a pro rata basis, of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; andshall have become due but remains unpaid;
6.9.6 9.12.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 this clause 9.12 may be varied by the Bank without any reference to, or consent or approval from, the Borrowers..Agent if all Lenders so direct.
Appears in 1 contract
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Lender from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Lender under any of the Security Documents, the Bank Lender must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 first, in or towards payment, on a pro-rata basisin such order as the Lender may decide, of any unpaid costs and expenses of the Bank Lender under any of the Security Documents;
6.9.2 secondly, in or towards payment of any fees payable to the Bank Lender under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Lender of any accrued default interest owing pursuant to clause 3.4 but remains unpaid;
6.9.4 fourthly, in or towards payment to the Lender of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank Lender of any due but unpaid Repayment Instalments; and
6.9.6 sixthly, in or towards payment to the Lender, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of Agreement and any other sum relating to the Loan which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 may be varied by the Bank Lender without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 1 contract
Samples: Facility Agreement (Euroseas Ltd.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Payment Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Payment Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Payment Agent must apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Payment Agent, the Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Arranger, the Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards repayment of the Loan which have become due and payable and in or towards payment to the Swap Bank of any principal in respect of the Loan sum which shall have become due under the Master Agreement but remains unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). ; and Table of Contents The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.5 may be varied by the Bank Payment Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 1 contract
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Payment Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Payment Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Payment Agent must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Payment Agent, the Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Arrangers, the Payment Agent, the Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank Lenders, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains remain unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). ; and The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.5 may be varied by the Bank Payment Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 1 contract
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Documents, the amount received by the Bank Agent from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Security Trustee and the Banks under any of the Security Documents, the Bank Agent must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Arranger, the Agent or any of the other Creditors under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Banks, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards payment to the Bank Banks, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank Banks, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 6.10.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.10.2 to 6.9.6 6.10.5 may be varied by the Bank Agent if the Banks so direct, without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 1 contract
Samples: Loan Agreement (StealthGas Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers any Borrower under any of the Security Documents, the amount received by the Bank Lender from the Borrowers such Borrower falls short of the total amount of the payment due to be made by the Borrowers such Borrower on such date then, without prejudice to any rights or remedies available to the Bank Lender under any of the Security Documents, the Bank Lender must apply the amount actually received from the Borrowers that Borrower in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowersany Borrower:
6.9.1 first, in or towards payment, on a pro-rata basisin such order as the Lender may decide, of any unpaid costs and expenses of the Bank Lender under any of the Security Documents;
6.9.2 secondly, in or towards payment of any fees payable to the Bank Lender under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Lender of any accrued default interest owing pursuant to clause 3.4 but remains unpaid;
6.9.4 fourthly, in or towards payment to the Lender of any accrued interest owing in respect of an Advance which shall have become due under any of the Security Documents but remains unpaid;
6.9.5 fifthly, in or towards payment (i) to the Lender of any due but unpaid Repayment Instalments and (ii) to the Lender of any sum which shall have become due under the Master Agreement but remains unpaid; and
6.9.6 sixthly, in or towards payment to the Lender, on a pro rata basis, of any Break Costs and any other sum relating to the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to 6.9.6 may be varied by the Bank Lender without any reference to, or consent or approval from, the Borrowers...
Appears in 1 contract
Samples: Facility Agreement (EuroDry Ltd.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers Borrower under any of the Security Loan Documents, the amount received by the Bank Lender from the Borrowers Borrower falls short of the total amount of the payment due to be made by the Borrowers Borrower on such date then, without prejudice to any rights or remedies available to the Bank Lender under any of the Security Loan Documents, the Bank Lender must apply the amount actually received from the Borrowers Borrower in or towards discharge of the obligations of the Borrowers Borrower under the Security Loan Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the BorrowersBorrower:
6.9.1 6.7.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Lender under any of the Security Loan Documents;
6.9.2 6.7.2 secondly, in or towards payment of any fees expenses payable to the Bank Lender under, or in relation to, the Security Loan Documents which remain unpaid;
6.9.3 6.7.3 thirdly, in or towards payment to the Bank Lender of any accrued interest owing in respect of the Loan (applied first against accrued interest owing in respect of any Relevant Instalment that has been deferred pursuant to clause 4.1(c) and then against other accrued interest owing in respect of the Advances as the Lender may decide) which shall have become due under any of the Security Loan Documents but remains unpaid;
6.9.4 6.7.4 fourthly, in or towards payment to the Bank Lender of any principal in respect of the Loan which shall have become due but remains unpaidunpaid (applied first against any outstanding Relevant Instalment that has been deferred pursuant to clause 4.1(c) and then against the remaining outstanding Advances in such amounts as the Lender may decide);
6.9.5 6.7.5 fifthly, in or towards payment to the Bank for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person Lender of any other sum which shall have become due under any of the Security Loan Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.7.1 to 6.9.6 6.7.5 may be varied by the Bank Lender without any reference to, or consent or approval from, the Borrowers..Borrower.
Appears in 1 contract
Samples: Secured Loan Agreement (Navios Maritime Holdings Inc.)
Partial payments. If, on any date on which If the Facility Agent receives a payment is for application against amounts due to be made by the Borrowers under any of the Security Documents, Documents that is insufficient to discharge all the amount received amounts then due and payable by the Bank from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Security Parties under any of the those Security Documents, the Bank must Facility Agent shall apply the amount actually received from the Borrowers in or that payment towards discharge of the obligations of the Borrowers such Security Parties under the those Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Facility Agent and the Security Trustee under any of the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro rata basis, of any fees and accrued commitment commission payable to the Bank Arrangers, the Facility Agent or any of the other Finance Parties under, or in relation to, the Security Documents which remain unpaid;
6.9.3 thirdly, in or towards payment to the Bank Lenders, on a prorata basis, of any accrued interest owing in respect which shall have become due under any of the Loan Security Documents;
6.9.4 fourthly, payment to the Lenders, on a prorata basis, of any amount of principal which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthly, in or towards payment to the Bank Lenders, on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable repaid;
6.9.6 sixthly, payment to the Swap Provider of any sums owing to it under this the Master Swap Agreement; and
6.9.6 sixthly6.9.7 seventhly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 to - 6.9.6 may be varied by the Bank Facility Agent if all Lenders so direct, without any reference to, or consent or approval from, the Borrowers..Borrowers or any other Finance Party.
Appears in 1 contract
Samples: Loan Agreement (DryShips Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Creditors or any of them under any of the Security Documents, the Bank must Agent shall apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 firstfirstly, in or towards payment, on a pro-pro rata basis, of any unpaid costs costs, expenses and expenses of fees owing to the Bank under any of Arranger, the Agent or the Security Agent under, or in relation to, the Security Documents;
6.9.2 secondly, in or towards payment payment, on a pro rata basis, of any unpaid costs, expenses and fees payable owing to the Banks or the Account Bank under, or in relation to, the Security Documents which remain unpaidDocuments;
6.9.3 thirdly, in or towards payment to the Bank Banks, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents (other than the Master Swap Agreement) but remains unpaid;
6.9.4 fourthly, in or towards payment to the Bank of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.5 fifthlyBanks, in or towards payment to the Bank on a pro rata basis, for any loss suffered by reason of any such payment in respect of principal not being effected on an Interest Payment Date relating to the part of the Loan repaid and which amounts are so payable under this Agreement;
6.9.5 fifthly, in or towards payment to the Banks, on a pro rata basis, of any principal in respect of the Loan which shall have become due but remains unpaid;
6.9.6 sixthly, in or towards payment to the Swap Provider of any sums owing to it under the Master Swap Agreement; and
6.9.6 sixthly6.9.7 seventhly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). The order of application set out in clauses 6.9.1 6.9.3 to 6.9.6 may be varied by the Bank Agent if the Majority Banks so direct, without any reference to, or consent or approval from, from the Borrowers...
Appears in 1 contract
Samples: Loan Agreement (DryShips Inc.)
Partial payments. If, on any date on which a payment is due to be made by the Borrowers under any of the Security Documents, the amount received by the Bank Agent from the Borrowers falls short of the total amount of the payment due to be made by the Borrowers on such date then, without prejudice to any rights or remedies available to the Bank Agent, the Agent, the Security Trustee and the Lenders under any of the Security Documents, the Bank Agent must apply the amount actually received from the Borrowers in or towards discharge of the obligations of the Borrowers under the Security Documents in the following order, notwithstanding any appropriation made, or purported to be made, by the Borrowers:
6.9.1 6.10.1 first, in or towards payment, on a pro-rata basis, of any unpaid costs and expenses of the Bank Agent, the Agent and the Security Trustee under any of the Security Documents;
6.9.2 6.10.2 secondly, in or towards payment of any fees payable to the Bank Arranger, the Agent or any of the other Banks under, or in relation to, the Security Documents which remain unpaid;
6.9.3 6.10.3 thirdly, in or towards payment to the Bank Lenders, on a pro rata basis, of any accrued interest owing in respect of the Loan which shall have become due under any of the Security Documents but remains unpaid;
6.9.4 6.10.4 fourthly, in or towards repayment of the Loan which have become due and payable and in or towards payment to the Swap Bank of any principal in respect of the Loan sum which shall have become due under the Master Agreement but remains unpaid;
6.9.5 6.10.5 fifthly, in or towards payment to the Bank for Lenders, on a pro rata basis, any loss suffered by reason of Break Costs and any such payment in respect of principal not being effected on an Interest Payment Date other sum relating to the part of the Loan repaid and which amounts are so payable under this Agreement; and
6.9.6 sixthly, in or towards payment to the relevant person of any other sum which shall have become due under any of the Security Documents but remains unpaid (and, if more than one such sum so remains unpaid, on a pro rata basis). ; and The order of application set out in clauses 6.9.1 6.10.1 to 6.9.6 6.10.5 may be varied by the Bank Agent if the Majority Lenders so direct, without any reference to, or consent or approval from, the Borrowers...
Appears in 1 contract
