Common use of Reduction of Repayment Instalments Clause in Contracts

Reduction of Repayment Instalments. If the aggregate amount advanced to the Borrowers is less than nineteen million two hundred and fifty thousand dollars ($19,250,000) the amount of each Repayment Instalment (including the Balloon) shall be reduced pro rata to the amount actually advanced.

Appears in 1 contract

Samples: Secured Loan Agreement (Euroseas Ltd.)

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Reduction of Repayment Instalments. If the aggregate amount advanced to the Borrowers in respect of a Tranche is less than nineteen thirty million two six hundred and fifty thousand dollars Dollars ($19,250,00030,600,000) the amount of each Repayment Instalment (including and the Balloon) relevant Balloon Amount shall be reduced pro rata to the amount actually advanced.

Appears in 1 contract

Samples: Secured Loan Agreement (Scorpio Tankers Inc.)

Reduction of Repayment Instalments. If the aggregate amount advanced to the Borrowers Borrower is less than nineteen million two hundred and fifty thousand dollars ($19,250,000) 19,800,000, the amount of each Repayment Instalment (including and the Balloon) Balloon shall be reduced pro rata to the amount actually advanced.

Appears in 1 contract

Samples: Secured Loan Agreement (Scorpio Bulkers Inc.)

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Reduction of Repayment Instalments. If the aggregate amount advanced to the Borrowers in respect of a Tranche is less than nineteen million two hundred and fifty thousand dollars ($19,250,000) US$17,250,000, the amount of each Repayment Instalment (including the Balloon) for that Tranche shall be reduced pro rata to the amount actually advanced. For the avoidance of doubt, the Balloon shall not exceed 2/3rd of the Tranche amount.

Appears in 1 contract

Samples: Secured Loan Agreement (Scorpio Tankers Inc.)

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