Common use of Prepayment indemnity Clause in Contracts

Prepayment indemnity. If the Borrower shall, subject always to Clause 5.2, make a prepayment on a Business Day other than the last day of an Interest Period, it shall pay to the Agent on behalf of the Banks any amount which is necessary to compensate the Banks for any Break Costs incurred by the Agent or any of the Banks as a result of the prepayment in question.

Appears in 4 contracts

Samples: Loan Facility Agreement, Loan Facility Agreement (Teekay Shipping Corp), Loan Facility Agreement (Stolt Offshore S A)

AutoNDA by SimpleDocs

Prepayment indemnity. If the Borrower shall, subject always to Clause 5.2, make a prepayment on a Business Day other than the last day of an Interest PeriodPeriod in respect of the whole of the Loan, it shall they shall, in addition to the amount prepaid and accrued interest, pay to the Agent on behalf of the Banks any amount which the Agent may certify is necessary to compensate the Banks for any Break Costs incurred by the Agent or any of the Banks as a result of the making of the prepayment in question.

Appears in 1 contract

Samples: Loan Facility Agreement (Arlington Tankers Ltd.)

AutoNDA by SimpleDocs

Prepayment indemnity. If the Borrower Borrowers shall, subject always to Clause 5.25.3, make a prepayment on a Business Day other than the last day of an Interest Period, it shall they shall, in addition to the amount prepaid and accrued interest, pay to the Agent on behalf of the Banks any amount which the Agent may certify is necessary to compensate the Agent and the Banks for any Break Costs incurred by the Agent or any of the Banks as a result of the making of the prepayment in question.

Appears in 1 contract

Samples: Secured Loan Facility Agreement (Euroseas Ltd.)

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