Common use of Suspension of drawdown Clause in Contracts

Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before an Advance is made: (a) in a case falling within Clauses 5.7(a) or 5.7(b), the Lenders’ obligations to make the Advance; (b) in a case falling within Clause 5.7(c), the Affected Lender’s obligation to participate in the Advance; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 3 contracts

Samples: Amending and Restating Agreement (TBS International PLC), Loan Agreement (Mc Shipping Inc), Loan Agreement (TBS International LTD)

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Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before an the Advance is made: (a) in a case falling within Clauses 5.7(a) or 5.7(b), the Lenders’ obligations to make the Advance; (b) in In a case falling within Clause 5.7(c5.7(a), the Lender’s obligation to make the Advance; and (b) In a case falling within Clause 5.7(b), the Affected Lender’s obligation to participate in the Advance; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 3 contracts

Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Partners L.P.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before an Advance is made: (a) in a case falling within Clauses 5.7(a) or 5.7(b), the Lenders’ obligations to make the Advance; (b) in In a case falling within Clause 5.7(c5.7(a), the Lender’s obligation to make that Advance; and (b) In a case falling within Clause 5.7(b), the Affected Lender’s obligation to participate in the that Advance; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 3 contracts

Samples: Loan Agreement (Navios Maritime Containers L.P.), Loan Agreement (Navios Maritime Containers Inc.), Loan Agreement (Navios Maritime Acquisition CORP)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before an Advance is made: (a) in a case falling within Clauses 5.7(a) or 5.7(b(b), the Lenders’ obligations to make the Advance; (b) in a case falling within Clause 5.7(c), the Affected Lender’s obligation to participate in the Advance; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 3 contracts

Samples: Amending and Restating Agreement (GasLog Partners LP), Amending and Restating Agreement, Loan Agreement (GasLog Ltd.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 5.6 is served before an Advance is made: (a) in a case falling within Clauses 5.7(a5.5(a) or 5.7(b(b), the Lenders’ obligations to make the Advance; (b) in a case falling within Clause 5.7(c5.5(c), the Affected Lender’s obligation to participate in the Advance; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 2 contracts

Samples: Loan Agreement (GasLog Ltd.), Loan Agreement (GasLog Ltd.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before an Advance is to be made: (a) in a case falling within Clauses 5.7(a) or 5.7(b), the Lenders’ obligations to make the that Advance; (b) in a case falling within Clause 5.7(c), the Affected Lender’s obligation to participate in the that Advance; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 2 contracts

Samples: Facility Agreement (NewLead Holdings Ltd.), Facility Agreement (NewLead Holdings Ltd.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 5.6 is served before an Advance is made: (a) in a case falling within Clauses 5.7(aparagraphs (a) or 5.7(b)(b) of Clause 5.5, the Lenders’ obligations to make available the Advance;; and (b) in a case falling within paragraph (c) of Clause 5.7(c)5.5, the Affected Lender’s obligation to participate in the Advance; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before an Advance is made: (a) in a case falling within Clauses 5.7(aparagraphs (a) or 5.7(b)(b) of Clause 5.7, the Lenders’ obligations to make the Advance; (b) in a case falling within Clause 5.7(c), the Affected Lender’s obligation to participate in the Advance; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Partners L.P.)

Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 is served before an Advance is made: (a) in a case falling within Clauses Clause 5.7(a) or 5.7(b), the Lenders’ obligations ' obligation to make the advance that Advance;; and (b) in a case falling within Clause 5.7(c5.7(b), the Affected Lender’s 's obligation to participate in the that Advance; , shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 1 contract

Samples: Loan Agreement (Castor Maritime Inc.)

Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 is served before an Advance is madeborrowed: (a) in a the case falling within Clauses 5.7(a) or 5.7(b), the Lenders' obligations to make the available that Advance;; and (b) in a the case falling within Clause 5.7(cClauses 5.7(b), the Affected Lender’s 's obligation to participate in the that Advance; , shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 1 contract

Samples: Loan Agreement (Seanergy Maritime Holdings Corp.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before an Advance is made: (a) in a case falling within Clauses 5.7(a) or 5.7(b(b), the Lenders’ obligations to make the Advance; (b) in a case falling within Clause 5.7(c), the Affected Lender’s obligation to participate in the Advance; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Crude Carriers Corp.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 5.6 is served before an Advance is made: (a) in a case falling within Clauses 5.7(aparagraph (a) or 5.7(b)of Clause 5.5, the Lenders’ obligations to make the Advance; (b) in a case falling within paragraph (b) of Clause 5.7(c)5.5, the Affected Lender’s obligation to participate in the Advance; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Capital Product Partners L.P.)

Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 is served before an Advance is made: (a) in a case falling within Clauses 5.7(a) or 5.7(b), the Lenders’ Lenders ' obligations to make the Advance;; and (b) in a case falling within Clause 5.7(c)5.7, the Affected Lender’s Xxxxxx's obligation to participate in the Advance; , shall be suspended while the circumstances referred to in the Agent’s 's notice continue.";

Appears in 1 contract

Samples: Supplemental Agreement (Diana Shipping Inc.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before an Advance is made: (a) in a case falling within Clauses Clause 5.7(a) or 5.7(b), the Lenders’ obligations obligation to make the advance that Advance;; and (b) in a case falling within Clause 5.7(c5.7(b), the Affected Lender’s obligation to participate in the that Advance; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Global Ship Lease, Inc.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 4.5 is served before an Advance is made, then while the circumstances referred to in the Agent’s notice continue: (a) in a the case falling within Clauses 5.7(aof Clause 4.5(a) or 5.7(b(b), the Lenders’ obligations each Lender’s obligation to make the its Ratable Portion of such Advance;; and (b) in a the case falling within of Clause 5.7(c4.5(c), the Affected Lender’s obligation to participate in the make its Ratable Portion of such Advance; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Oceanfreight Inc.)

Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 5.6 is served before an Advance is madedrawndown: (a) in a case falling within Clauses 5.7(a5.5(a) or 5.7(b(b), the Lenders' obligations to make the available that Advance; (b) in a case falling within Clause 5.7(c5.5(c), the Affected Lender’s 's obligation to participate in the that Advance; shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 1 contract

Samples: Loan Agreement (Star Bulk Carriers Corp.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before an Advance is made: (a) in a case falling within Clauses 5.7(a) or 5.7(b), the Lenders’ obligations to make the Advance;; and (b) in a case falling within Clause 5.7(c), the Affected LenderXxxxxx’s obligation to participate in the Advance; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Product Shipping Ltd.)

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Suspension of drawdown. If the Agent’s Agents notice under Clause 5.8 5.6 is served before an Advance is made: (a) in a case falling within Clauses 5.7(aparagraphs (a) or 5.7(b)(b) of Clause 5.5, the Lenders’ obligations to make the Advance; (b) in a case falling within paragraph (c) of Clause 5.7(c)5.5, the Affected Lender’s obligation to participate in the Advance; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before an Advance is mademade then: (a) in a case falling within Clauses Clause 5.7(a) or 5.7(b), the Lenders’ obligations Advance to make the Advance;take place after Clauses 5.10, 5.11 and 5.12 have been applied; and (b) in a case falling within Clause 5.7(c5.7(b), the Affected Lender’s obligation to participate in the Advance; Loan shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Holdings Inc.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before an Advance is made: (a) in a case falling within Clauses 5.7(a) or 5.7(b), the Lenders’ obligations to make the Advance; (b) in a case falling within Clause 5.7(c), the Affected LenderXxxxxx’s obligation to participate in the Advance; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Amending and Restating Agreement (TBS International PLC)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before an Advance is madeborrowed: (a) in a case falling within Clauses 5.7(a) or 5.7(b(b), the Lenders’ Lender’s obligations to make the that Advance; (b) in a case falling within Clause 5.7(c), the Affected Lender’s obligation to participate in the that Advance; shall be suspended while the circumstances referred to in the Agent’s notice continue.,

Appears in 1 contract

Samples: Loan Agreement

Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 5.6 is served before an Advance is made: (a) in a case falling within Clauses 5.7(aparagraph (a) or 5.7(b)of Clause 5.5, the Lenders' obligations to make the Advance; (b) in a case falling within paragraph (b) of Clause 5.7(c)5.5, the Affected Lender’s 's obligation to participate in the Advance; shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 is served before an Advance is made: (a) in a case falling within Clauses 5.7(a) or 5.7(b(b), the Lenders' obligations to make the Advance;; and (b) in a case falling within Clause 5.7(c), the Affected Lender’s 's obligation to participate in the Advance; , shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 1 contract

Samples: Loan Agreement (Top Ships Inc.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 5.6 is served before an Advance is made: (a) in a case falling within Clauses 5.7(aparagraph (a) or 5.7(b)of Clause 5.5, the Lenders’ obligations to make the Advance; (b) in a case falling within paragraph (b) of Clause 5.7(c)5.5, the Affected Lender’s obligation to participate in the Advance; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Star Bulk Carriers Corp.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before an the Advance is made: (a) in a case falling within Clauses 5.7(aparagraphs (a) or 5.7(b)(b) of Clause 5.7, the Lenders’ obligations to make the Advance; (b) in a case falling within Clause 5.7(c), the Affected Lender’s obligation to participate in the Advance; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Containers Inc.)

Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 5.6 is served before an Advance is made: (a) in a case falling within Clauses 5.7(aparagraphs (a) or 5.7(b)(b) of Clause 5.5, the Lenders' obligations to make the Advance; (b) in a case falling within paragraph (c) of Clause 5.7(c)5.5, the Affected Lender’s 's obligation to participate in the Advance; , shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 is served before an Advance is made: (a) in a case falling within Clauses 5.7(a) or 5.7(b(b), the Lenders' obligations to make the Advance; (b) in a case falling within Clause 5.7(c), the Affected Lender’s 's obligation to participate in the Advance; , shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 1 contract

Samples: Loan Agreement (Crude Carriers Corp.)

Suspension of drawdown. If the Agent’s notice under Clause 5.8 5.6 is served before an Advance is made: (a) in a case falling within Clauses 5.7(aparagraph (a) or 5.7(b)of Clause 5.5, the Lenders’ obligations to make the Advance; (b) in a case falling within paragraph (b) of Clause 5.7(c)5.5, the Affected LenderXxxxxx’s obligation to participate in the Advance; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement

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