Common use of Repayment Instalments Clause in Contracts

Repayment Instalments. The Borrower shall repay the Loan by (a) 24 consecutive three-monthly instalments of (i) in the case of the first to fourth instalments (inclusive), in the amount of $1,500,000 each, (ii) in the case of the fifth to eighth instalments (inclusive), in the amount of $1,250,000 each, (iii) in the case of the ninth to twelfth instalments (inclusive), in the amount of $875,000 each and (iv) in the case of the thirteenth to twenty forth instalments (inclusive), in the amount of $500,000 each and (b) a balloon payment in the amount of $14,500,000 (the “Balloon Instalment”) Provided that if the Loan is drawdown in less than the maximum available amount thereof, each repayment instalment (including the Balloon Instalment) shall be reduced pro rata by an amount in aggregate equal to such undrawn amount.

Appears in 2 contracts

Samples: Agreement (Star Bulk Carriers Corp.), Loan Agreement (Star Cosmo Llc.)

AutoNDA by SimpleDocs

Repayment Instalments. The Borrower Borrowers shall repay the Loan by (a) 24 28 consecutive three-monthly instalments of (i) in the case of the first to fourth instalments (inclusive), in the amount of $1,500,000 5,250,000 each, (ii) in the case of the fifth to the twenty eighth instalments (inclusive), in the amount of $1,250,000 each, (iii) in the case of the ninth to twelfth instalments (inclusive), in the amount of $875,000 2,750,000 each and (iv) in the case of the thirteenth to twenty forth instalments (inclusive), in the amount of $500,000 each and (biii) a balloon payment in the amount of $14,500,000 43,000,000 (the “Balloon Instalment”) Provided that if the Loan is drawdown in less than the maximum available amount thereof, each repayment instalment (including the Balloon Instalment) shall be reduced pro rata by an amount in aggregate equal to such undrawn amount.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Repayment Instalments. The Borrower shall repay the Loan by (a) 24 22 consecutive three-monthly instalments of (i) in the case of the first to fourth instalments (inclusive)and second instalments, in the amount of $1,500,000 2,000,000 each, (ii) in the case of the fifth to eighth instalments (inclusive)third instalment, in the amount of $1,250,000 each1,750,000, (iii) in the case of the ninth fourth instalment in the amount of $1,250,000, (iv) in the case of the fifth to twelfth tenth instalments (inclusive), in the amount of $875,000 each and (ivv) in the case of the thirteenth eleventh to twenty forth second instalments (inclusive), in the amount of $500,000 each and (b) a balloon payment in the amount of $14,500,000 13,750,000 (the "Balloon Instalment") Provided that if the Loan is drawdown in less than the maximum available amount thereof, each repayment instalment (including the Balloon Instalment) shall be reduced pro rata by an amount in aggregate equal to such undrawn amount.

Appears in 1 contract

Samples: Agreement (Star Bulk Carriers Corp.)

AutoNDA by SimpleDocs

Repayment Instalments. The Borrower Borrowers shall repay the Loan by (a) 24 28 consecutive three-three- monthly instalments of (i) in the case of the first to fourth instalments (inclusive), in the amount of $1,500,000 5,250,000 each, (ii) in the case of the fifth to the twenty eighth instalments (inclusive), in the amount of $1,250,000 each, (iii) in the case of the ninth to twelfth instalments (inclusive), in the amount of $875,000 2,750,000 each and (iv) in the case of the thirteenth to twenty forth instalments (inclusive), in the amount of $500,000 each and (biii) a balloon payment in the amount of $14,500,000 43,000,000 (the “Balloon Instalment”) Provided that if the Loan is drawdown in less than the maximum available amount thereof, each repayment instalment (including the Balloon Instalment) shall be reduced pro rata by an amount in aggregate equal to such undrawn amount.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.