Common use of Payment of default interest on overdue amounts Clause in Contracts

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 48 contracts

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

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Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower Borrowers under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 34 contracts

Samples: Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Acquisition CORP)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee Lender does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.418.4, the date on which it became immediately due and payable.

Appears in 16 contracts

Samples: Loan Agreement (Box Ships Inc.), Loan Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Paragon Shipping Inc.)

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the such Borrower under any Finance Document which the Agent, the Security Trustee or the any other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.420.4, the date on which it became immediately due and payable.

Appears in 8 contracts

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

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee Lender does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.418.5, the date on which it became immediately due and payable.

Appears in 4 contracts

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

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee Lender does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, within the date on which the demand is servedperiod specified in such demand; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 3 contracts

Samples: Loan Agreement (Arlington Tankers Ltd.), Loan Agreement (General Maritime Corp / MI), Loan Agreement (Arlington Tankers Ltd.)

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the either Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 3 contracts

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

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower Borrowers or either of them under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 3 contracts

Samples: Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios Maritime Holdings Inc.)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.420.4, the date on which it became immediately due and payable.

Appears in 3 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower under any Finance Document which the AgentLender, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.418.4, the date on which it became immediately due and payable.

Appears in 2 contracts

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

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower under any Finance Document which the AgentLender, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the that Finance Documents provide Document provides that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.418.4, the date on which it became immediately due and payable.

Appears in 2 contracts

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

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date falling 3 Business Days after the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 2 contracts

Samples: Loan Agreement (Costamare Partners LP), Loan Agreement (Paragon Shipping Inc.)

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower Borrowers under any Finance Document which the Facility Agent, the Security Trustee or a Lender, as the other designated payee case may be, does not receive on or before the relevant date, that is: (a) the date on which the a Finance Documents Document provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.413.2, the date on which it became immediately due and payable.

Appears in 2 contracts

Samples: Loan Agreement (TBS International LTD), Loan Agreement (TBS International LTD)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the any other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.420.4, the date on which it became immediately due and payable.

Appears in 2 contracts

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

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 (Default Interest) on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee Lender does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.419.4 (Acceleration of Loan), the date on which it became immediately due and payable.

Appears in 2 contracts

Samples: Loan Agreement (Toro Corp.), Loan Agreement (Castor Maritime Inc.)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Facility Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 2 contracts

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

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower Borrowers under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents (or any of them) provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 2 contracts

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

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the any other designated payee payee, does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 2 contracts

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

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 5 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee Lender does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.417.4, the date on which it became immediately due and payable.

Appears in 2 contracts

Samples: Fourth Amending and Restating Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee Lender does not receive on or before the relevant date, that is: (a) on or within 2 Business Days of the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, within 3 Business Days of the date on which the such demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 2 contracts

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

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.419.4 (Acceleration of liabilities), the date on which it became immediately due and payable.

Appears in 2 contracts

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

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 (Default Interest) on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, 19.4 (Acceleration of Loan) the date on which it became immediately due and payable.

Appears in 2 contracts

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

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower Borrowers (or any of them) under any Finance Document which the Facility Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 2 contracts

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

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 (Default Interest) on any amount payable by the Borrower Borrowers under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.419.4 (Acceleration of Loan), the date on which it became immediately due and payable.

Appears in 2 contracts

Samples: Loan Agreement (Castor Maritime Inc.), Loan Agreement (Euronav NV)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.418.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (GasLog Ltd.)

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower Borrowers under any Finance Document which the AgentLender, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Pyxis Tankers Inc.)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Facility Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is:: Index (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 1 contract

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

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower Borrowers under any Finance Document which the Agent, the Security Trustee or the other designated payee Lender does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.418.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (B Plus H Ocean Carriers LTD)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.421.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan and Guarantee Facility Agreement (DryShips Inc.)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 8 on any amount payable by the Borrower under any Finance Document which the Agent, the Paying Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.420.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower Borrowers under any Finance Document which the Agent, the Security Trustee or the any other designated payee Creditor Party does not receive on or before the relevant datedue date for payment thereunder, that is: (a) the date on which the such Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, three (3) days following the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee Lender does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, within three (3) Business Days as of the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower under any Finance Document which the AgentLender, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.417.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Pyxis Tankers Inc.)

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Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower Borrowers under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date falling 3 Business Days after the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower under any Finance Document which the AgentLender, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.418.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Danaos Corp)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 (Default Interest) on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date falling 3 Business Days after the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.419.4 (Acceleration of Loan), the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower Borrowers under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.418.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Euronav NV)

Payment of default interest on overdue amounts. The Borrower Obligors shall pay interest in accordance with the following provisions of this Clause 7 8 on any amount payable by the Borrower Obligors under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is servedmade; or (c) if such amount has become immediately due and payable under Clause 19.416.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Guarantee Facility Agreement (Euronav NV)

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower Borrowers under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.419.4 (Acceleration of liabilities), the date on which it became immediately due and payable.

Appears in 1 contract

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

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 6.4 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.418.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Acquisition CORP)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; orOr (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.417.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the any other designated payee Creditor Party does not receive on or before the relevant datedue date for payment thereunder, that is: (a) the date on which the such Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, three (3) days following the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the any Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 1 contract

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

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 8 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.420.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Danaos Corp)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower it under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Grindrod Shipping Holdings Pte. Ltd.)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee a Credit Party or the other a designated payee of such Credit Party does not receive on or before the relevant date, that is: (a) the date on which the a Finance Documents provide Document provides that such amount is due for payment; or; (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.414.2, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Oceanfreight Inc.)

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower Borrowers under any Finance Document which the Agent, the Security Trustee or the other designated payee Lender does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date falling 3 Business Days after the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.418.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Mc Shipping Inc)

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower Borrowers under any Finance Document which the Agent, the Security Trustee or the other designated payee relevant Creditor Party does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is servedserved on the Borrowers; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (TBS International LTD)

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower Borrowers under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.424.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Facility Agreement (NewLead Holdings Ltd.)

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 (Default Interest) on any amount payable by the Borrower Borrowers under any Finance Document which the Agent, the Security Trustee Agent or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.419.4 (Acceleration of Loan), the date on which it became immediately due and payable.

Appears in 1 contract

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

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee Agent or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Payment of default interest on overdue amounts. The Borrower Borrowers shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower Borrowers under any Finance Document which the Agent, the Security Trustee Lender or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.418.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Omega Navigation Enterprises, Inc.)

Payment of default interest on overdue amounts. The Borrower shall pay interest in accordance with the following provisions of this Clause 7 6 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee Lender or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.417.4, the date on which it became immediately due and payable.

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

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