Release of accrued interest. Interest accruing under Clause 18.5 shall be released to the Borrower on each interest payment date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3, if applicable) been transferred in that and each previous month.
Appears in 10 contracts
Samples: Loan Agreement (Paragon Shipping Inc.), Amending and Restating Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)
Release of accrued interest. Interest accruing under Clause 18.5 shall be released to the Borrower on each interest payment date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3, if applicable) been transferred in that and each previous month.
Appears in 4 contracts
Samples: Loan Agreement, Loan Agreement, Loan Agreement (Capital Product Partners L.P.)
Release of accrued interest. Interest accruing under Clause 18.5 17.6 shall be released to the Borrower Borrowers on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3, if applicable) 17.3 been transferred in that and each previous month.
Appears in 3 contracts
Samples: Loan Agreement (StealthGas Inc.), Loan Agreement (StealthGas Inc.), Loan Agreement (StealthGas Inc.)
Release of accrued interest. Interest accruing on each Account under Clause 18.5 shall be released to the Borrower Borrowers on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or or, in the case of the Retention Account and the Swap Account, the then credit balance on the Retention Account thereon is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3, if applicable) been transferred in that and each previous month.
Appears in 3 contracts
Samples: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (DryShips Inc.), Loan Agreement (Star Bulk Management Inc.)
Release of accrued interest. Interest accruing under Clause 18.5 17.5 shall be released to the Borrower on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 17.2 (and Clause 18.317.3, if applicable) been transferred in that and each previous month.
Appears in 3 contracts
Samples: Loan Agreement (Tsakos Energy Navigation LTD), Loan Agreement (Euroseas Ltd.), Loan Agreement (Euroseas Ltd.)
Release of accrued interest. Interest accruing under Clause 18.5 17.5 shall be released to the Borrower on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 17.1 (and Clause 18.317.3, if applicable) been transferred in that and each previous month.
Appears in 2 contracts
Samples: Loan Agreement (Euroseas Ltd.), Loan Agreement (Euroseas Ltd.)
Release of accrued interest. Interest accruing under Clause 18.5 shall be released to the Borrower on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3, if applicable) been transferred in that and each previous month.
Appears in 2 contracts
Samples: Loan Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)
Release of accrued interest. Interest accruing on each Account under Clause 18.5 shall be released to the Borrower Borrowers on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or or, in the case of the Retention Account, the then credit balance on the Retention Account thereon is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3, if applicable) 18.3 been transferred in that and each previous month.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Navios Maritime Partners L.P.)
Release of accrued interest. Interest accruing on each Account under Clause 18.5 18.3 shall be released to the Borrower on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account thereon is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3, if applicable) been transferred in debited to that and each previous monthAccount.
Appears in 2 contracts
Samples: Loan Agreement (Capital Product Partners L.P.), Loan Agreement
Release of accrued interest. Interest accruing under Clause 18.5 17.5 shall be released to the Borrower Borrowers on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 17.2 (and Clause 18.317.3, if applicable) been transferred in that and each previous month.
Appears in 1 contract
Samples: Loan Agreement (StealthGas Inc.)
Release of accrued interest. Interest accruing under Clause 18.5 18.6 shall be released to the Borrower on each interest payment date unless an Event of Default or a Potential Event of Default has occurred or or, in the case of the Retention Account only, the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3, if applicable) been transferred in that and each previous month.
Appears in 1 contract
Release of accrued interest. Interest accruing on each Account under Clause 18.5 18.6 shall be released to the Borrower Borrowers on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or or, in the case of the Retention Account, the then credit balance on the Retention Account thereon is less than what would have been the balance had the full amount required by Clause 18.2 18.3 (and Clause 18.318.4, if applicable) been transferred in that and each previous month.
Appears in 1 contract
Release of accrued interest. Interest accruing on each Earnings Account under Clause 18.5 18.1 shall be released to the Borrower Borrowers on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3, if applicable) been transferred in that and each previous monthoccurred.
Appears in 1 contract
Release of accrued interest. Interest accruing under Clause 18.5 shall be released to the Borrower Borrowers on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3, if applicable) been transferred in that and each previous month.
Appears in 1 contract
Samples: Loan Agreement (Mc Shipping Inc)
Release of accrued interest. Interest accruing under Clause 18.5 18.2 shall be released to the Borrower Borrowers on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3, if applicable) been transferred in that and each previous monthoccurred.
Appears in 1 contract
Samples: Loan Agreement (Pyxis Tankers Inc.)
Release of accrued interest. Interest accruing under Clause 18.5 17.5 shall be released to the Borrower on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 17.2 (and Clause 18.317.3, if applicable) been transferred in that and each previous month.
Appears in 1 contract
Samples: Loan Agreement (Omega Navigation Enterprises, Inc.)
Release of accrued interest. Interest accruing under Clause 18.5 17.5 shall be released to the Borrower on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 17.2 (and Clause 18.317.4, if applicable) been transferred in that and each previous month.
Appears in 1 contract
Release of accrued interest. Interest accruing under Clause 18.5 17.5 on the Retention Account shall be released to the Borrower Borrowers on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 17.2 (and Clause 18.317.3, if applicable) been transferred in that and each previous month.
Appears in 1 contract
Samples: Loan Agreement (Omega Navigation Enterprises, Inc.)
Release of accrued interest. Interest accruing under Clause 18.5 18.4 shall be released to the Borrower on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3, if applicable) been transferred in that and each previous month.
Appears in 1 contract
Release of accrued interest. Interest accruing under Clause 18.5 shall be released to the Borrower on each interest payment date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Reserve Account is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3, if applicable) been transferred in that and each previous month.
Appears in 1 contract
Release of accrued interest. Interest accruing on each Account under Clause 18.5 shall be released to the Borrower Borrowers on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or or, in the case of the Retention Account and the Swap Account, the then credit balance on the Retention Account thereon is less than what would have been the balance had the full amount required by Clause 18.1 and 18.2 (and Clause 18.3, if applicable) been transferred in that and each previous month.
Appears in 1 contract
Release of accrued interest. Interest accruing under Clause 18.5 17.5 shall be released to the Borrower Borrowers on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the relevant Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 17.2 (and Clause 18.317.3, if applicable) been transferred in that and each previous month.
Appears in 1 contract
Samples: Loan Agreement (Mc Shipping Inc)
Release of accrued interest. Interest accruing under Clause 18.5 shall be released to the Borrower on each interest payment date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 (and Clause 18.3I 8.3, if applicable) been transferred in that and each previous month.
Appears in 1 contract
Release of accrued interest. Interest accruing under Clause 18.5 19.5 shall be released to the Borrower on each interest payment date Repayment Date unless an Event of Default or a Potential Event of Default has occurred or the then credit balance on the Retention Account is less than what would have been the balance had the full amount required by Clause 18.2 19.2 (and Clause 18.319.3, if applicable) been transferred in that and each previous month.
Appears in 1 contract