Purpose of Advances. The Borrowers undertake with each Creditor Party to use each Advance only to partially finance or refinance the acquisition of a Ship to which such Advance relates.
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Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Quartet Holdco Ltd.)
Purpose of Advances. The Borrowers undertake with each Creditor Party to use each Advance only to partially finance or as the case may be refinance part of the acquisition cost of a the Ship to which such that Advance relates.
Appears in 2 contracts
Samples: Loan Agreement (Navios Maritime Containers Inc.), Loan Agreement (Navios Maritime Partners L.P.)
Purpose of Advances. The Borrowers undertake with each Creditor Party to use each Advance only to partially finance or refinance part of the acquisition cost of a the Ship to which such that Advance relates.
Appears in 1 contract
Purpose of Advances. The Borrowers undertake with each Creditor Party to use each Advance only to partially finance or refinance the acquisition of a Existing Indebtedness relating to the Ship to which such Advance relatesthat Advance.
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Purpose of Advances. The Borrowers undertake with each Creditor Party to use each Advance only to partially finance or refinance the acquisition of a Ship pursuant to which such Advance relatesan Approved Acquisition Contract.
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