Proof of Default. It is agreed that (i) the non-payment of any sum of money in time will be proved conclusively by mere passage of time and (ii) the occurrence of this (non payment) shall be proved conclusively by a mere written statement of the Bank (save for manifest error).
Appears in 10 contracts
Samples: Loan Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Top Ships Inc.), Loan Agreement (NewLead Holdings Ltd.)
Proof of Default. It is agreed that (i) the non-payment of any sum of money in time will be proved conclusively by mere passage of time and (ii) the occurrence of this (non non-payment) shall be proved conclusively by a mere written statement of the Bank Lender (save for manifest errorerror and in absence of willful misconduct).
Appears in 4 contracts
Samples: Loan Agreement (Performance Shipping Inc.), Loan Agreement (Performance Shipping Inc.), Loan Agreement (Seanergy Maritime Holdings Corp.)
Proof of Default. It is agreed that (i) the non-payment of any sum of money in time will be proved conclusively by mere passage of time and (ii) the occurrence of this (non payment) shall be proved conclusively by a mere written statement of the Bank Lender (save for manifest error).
Appears in 3 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Seanergy Maritime Holdings Corp.), Loan Agreement (Seanergy Maritime Holdings Corp.)
Proof of Default. It is agreed that (i) the non-payment of any sum of money in time will be proved conclusively by mere passage of time and (ii) the occurrence of this (non payment) and any other Event of Default shall be proved conclusively by a mere written statement of the Bank which statement shall (save for manifest error)) be conclusive, binding and full evidence for the Borrower.
Appears in 2 contracts
Samples: Loan Agreement (StealthGas Inc.), Loan Agreement (StealthGas Inc.)
Proof of Default. It is agreed that (i) the non-payment of any sum of money in time will be proved conclusively by mere passage of time and (ii) the occurrence of this (non non-payment) shall be proved conclusively by a mere written statement of the Bank Lender (save for manifest error).
Appears in 2 contracts
Samples: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Seanergy Maritime Holdings Corp.)
Proof of Default. It is agreed that (i) the non-payment of any sum of money in time will be proved proven conclusively by mere passage of time and (ii) the occurrence of this (non non-payment) and any other Event of Default shall be proved proven conclusively by a mere written statement of the Bank Lender (save for manifest error).
Appears in 2 contracts
Samples: Revolving Credit Facility (Globus Maritime LTD), Revolving Credit Facility Agreement (Globus Maritime LTD)
Proof of Default. It is agreed that (i) the non-non- payment of any sum of money in time moneys on their due date will be proved conclusively by mere passage of time and (ii) the occurrence of this (non payment) and any other Event of Default shall be proved conclusively by a mere written statement of the Bank (save for manifest error).
Appears in 2 contracts
Samples: Facility Agreement (Omega Navigation Enterprises, Inc.), Facility Agreement (Omega Navigation Enterprises, Inc.)
Proof of Default. It is agreed that (i) the non-payment of any sum of money in time will be proved proven conclusively by mere passage of time and (ii) the occurrence of this (non non-payment) and any other Event of Default shall be proved proven conclusively by a mere written statement of the Bank Lender (save for manifest error).”
Appears in 1 contract
Samples: Revolving Credit Facility Agreement (Globus Maritime LTD)
Proof of Default. It is agreed that (i) the non-payment of any sum of money in time will be proved conclusively by mere passage of time and (ii) the occurrence of this (non payment) and any other Event of Default shall be proved conclusively by a mere written statement of the Bank (save for manifest error)) which (statement) shall be conclusive, binding and full evidence for the Borrower but the Borrower shall be allowed to rebut such evidence by any means of evidence save for witnesses.
Appears in 1 contract
Proof of Default. It is agreed that (i) the non-payment of any sum of money in time will be proved conclusively by mere passage of time and (ii) the occurrence of this (non payment) shall be proved conclusively by a mere written statement of the Bank Agent (save for manifest error).
Appears in 1 contract
Samples: Facility Agreement (Costamare Inc.)
Proof of Default. It is agreed that (i) the non-payment of any sum of money in time will be proved conclusively by mere passage of time and (ii) the occurrence of this (non payment) and any other Event of Default shall be proved conclusively by a mere written statement of the Bank which statement shall (save for manifest error)) be conclusive, binding and full evidence for the Borrowers.
Appears in 1 contract
Samples: Loan Agreement (Euroseas Ltd.)
Proof of Default. It is agreed that (i) the non-non- payment of any sum of money moneys in time will be proved conclusively by mere passage of time and (ii) the occurrence of this (non payment) and any other Event of Default shall be proved conclusively by a mere written statement of the Bank (save for manifest error).
Appears in 1 contract
Samples: Loan Agreement (Diana Shipping Inc.)
Proof of Default. It is agreed that (ia) the non-payment of any sum of money in time will be proved conclusively by mere passage of time and (iib) the occurrence of this (non payment) shall be proved conclusively by a mere written statement of the Bank Agent (save for manifest error).
Appears in 1 contract
Proof of Default. It is agreed that (i) the non-payment of any sum of money in time will be proved conclusively by mere passage of time and (ii) the occurrence of this (non payment) and any other Event of Default shall be proved conclusively by a mere written statement of the Bank which (statement) shall be conclusive, binding and full evidence for the Borrower but the Borrower shall be allowed to rebut such evidence by any means of evidence save for manifest error)witnesses.
Appears in 1 contract
Samples: Loan Agreement (Diana Shipping Inc.)
