Common use of Suspension of drawdown Clause in Contracts

Suspension of drawdown. If the Agent’s notice under Clause 6.5 is served before the Loan is made: (a) in a case falling within Clauses 6.5(a) or 6.5(b), the Lenders’ obligations to make the Loan; (b) in a case falling within Clause 6.5(c), the Affected Lender’s obligation to participate in the Loan; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 4 contracts

Samples: Amendment and Restatement Agreement (Norwegian Cruise Line Holdings Ltd.), Amendment and Restatement Agreement (Norwegian Cruise Line Holdings Ltd.), Loan Agreement (Prestige Cruises International, Inc.)

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Suspension of drawdown. If the Agent’s 's notice under Clause 6.5 5.8 is served before the Loan is made: (a) in a case falling within Clauses 6.5(a5.7 (a) or 6.5(b(b), the Lenders' obligations to make the Loan; (b) in a case falling within Clause 6.5(c5.7(c), the Affected Lender’s 's obligation to participate in the Loan; shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 3 contracts

Samples: Amending and Restating Agreement, Amending and Restating Agreement (Golar LNG Partners LP), Loan Agreement (Paragon Shipping Inc.)

Suspension of drawdown. If the Agent’s 's notice under Clause 6.5 5.8 is served before the Loan is madeadvanced: (a) in a case falling within Clauses 6.5(a5.7(a) or 6.5(b5.7(b), the Lenders' obligations to make advance the Loan;; and (b) in a case falling within Clause 6.5(c5.7(c), the Affected Lender’s 's obligation to participate in the Loan; , shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 3 contracts

Samples: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.)

Suspension of drawdown. If the Agent’s 's notice under Clause 6.5 5.6 is served before the Loan is madeadvanced: (a) in a case falling within Clauses 6.5(aparagraph (a) or 6.5(b)of Clause 5.5, the Lenders' obligations to make advance the Loan; (b) in a case falling within paragraph (b) of Clause 6.5(c)5.5, the Affected Lender’s 's obligation to participate in the Loan; shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 3 contracts

Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (Star Bulk Carriers Corp.), Loan Agreement (Paragon Shipping Inc.)

Suspension of drawdown. If the Agent’s notice under Clause 6.5 5.6 is served before the Loan is made: (a) in a case falling within Clauses 6.5(a) or 6.5(bClause 5.5(a), the Lenders’ obligations to make the Loan; (b) in a case falling within Clause 6.5(c5.5(b), the Affected Lender’s obligation to participate in the Loan; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 2 contracts

Samples: Loan Agreement (Seacastle Inc.), Amending and Restating Agreement (Seacastle Inc.)

Suspension of drawdown. If the Agent’s notice under Clause 6.5 5.8 is served before the Loan is madeborrowed: (a) in In a case falling within Clauses 6.5(aparagraph (a) or 6.5(b)of Clause 5.7, the Lenders’ obligations Lender’s obligation to make the Loan;Loan available; and (b) in In a case falling within paragraph (b) of Clause 6.5(c)5.7, the Affected Lender’s obligation to participate in the Loan; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 2 contracts

Samples: Amending and Restating Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Acquisition CORP)

Suspension of drawdown. If the Agent’s 's notice under Clause 6.5 5.8 is served before the Loan is made: (a) in a case falling within Clauses 6.5(a5.7(a) or 6.5(b5.7(b), the Lenders' obligations to make the Loan;; and (b) in a case falling within Clause 6.5(c)5.7, the Affected Lender’s 's obligation to participate in the Loan; , shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 2 contracts

Samples: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.)

Suspension of drawdown. If the Agent’s notice under Clause 6.5 5.7 is served before the Loan is made: (a) in a case falling within Clauses 6.5(aClause 5.6(a) or 6.5(b(b), the Lenders’ obligations to make the Loan; (b) in a case falling within Clause 6.5(c5.6(c), the Affected Lender’s obligation to participate in the Loan; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 2 contracts

Samples: Loan Agreement (Britannia Bulk PLC), Loan Agreement (Britannia Bulk Holdings Inc)

Suspension of drawdown. If the Agent’s notice under Clause 6.5 5.6 is served before the Loan is mademade available: (a) in a case falling within Clauses 6.5(aparagraph (a) or 6.5(b)of Clause 5.5, the Lenders’ obligations Borrowers would, for the relevant Interest Period, pay to make the LoanLenders which have given notice to the Agent the actual cost to those Lenders of funding their respective Contributions available; (b) in a case falling within paragraph (b) of Clause 6.5(c)5.5, the Affected Lender’s obligation to participate in the Loan; Loan shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

Suspension of drawdown. If the Agent’s notice under Clause 6.5 5.6 is served before the Loan is made: (a) in a case falling within Clauses 6.5(aparagraph (a) or 6.5(b)of Clause 5.5, the Lenders’ obligations to make the Loan; (b) in a case falling within paragraph (b) of Clause 6.5(c)5.5, the Affected LenderXxxxxx’s obligation to participate in the Loan; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Alma Maritime LTD)

Suspension of drawdown. If the Agent’s notice under Clause 6.5 5.7 is served before the Loan is made: (a) in a case falling within Clauses 6.5(a5.6(a) or 6.5(b(b), the Lenders’ obligations to make the Loan; (b) in a case falling within Clause 6.5(c5.6(c), the Affected Lender’s obligation to participate in the Loan; 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 's notice under Clause 6.5 5.6 is served before the Loan is made: (a) in a case falling within Clauses 6.5(aparagraphs (a) or 6.5(b)(b) of Clause 5.5, the Lenders' obligations to make advance the Loan; (b) in a case falling within paragraph (c) of Clause 6.5(c)5.5, the Affected Lender’s 's obligation to participate in the Loan; 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 notice under Clause 6.5 5.8 is served before the Loan is madeborrowed: (a) in a case falling within Clauses 6.5(a) or 6.5(b), the Lenders’ obligations to make the Loan; (b) in In a case falling within Clause 6.5(c5.7(a), the Lender’s obligation to make the Loan available; and (b) In a case falling within Clause 5.7(b), the Affected Lender’s obligation to participate in the 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 's notice under Clause 6.5 5.8 is served before the Loan is made: (a) in a case falling within Clauses 6.5(a5.7(a) or 6.5(b(b), the Lenders' obligations to make the Loan; (b) in a case falling within Clause 6.5(c5.7(c), the Affected Lender’s 's obligation to participate in the Loan; shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 1 contract

Samples: Amending and Restating Agreement (Paragon Shipping Inc.)

Suspension of drawdown. If the Agent’s notice under Clause 6.5 5.8 is served before the Loan is made: (a) in a case falling within Clauses 6.5(a5.7(a) or 6.5(b5.7(b), the Lenders’ obligations to make the Loan;; and (b) in a case falling within Clause 6.5(c5.7(c), the Affected Lender’s obligation to participate in the Loan; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Britannia Bulk Holdings Inc)

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Suspension of drawdown. If the Agent’s notice under Clause 6.5 5.8 is served on the Borrower before the Loan is made: (a) in a case falling within Clauses 6.5(aparagraphs (a) or 6.5(b)(b) of Clause 5.7, the Lenders’ obligations to make advance, and the Borrower’s obligation to borrow, the Loan;; and (b) in a case falling within paragraph (c) of Clause 6.5(c)5.7, the Affected Lender’s obligation to participate in the Loan; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Suspension of drawdown. If the Agent’s notice under Clause 6.5 5.8 is served before the Loan is madeadvanced: (a) in a case falling within Clauses 6.5(a5.7(a) or 6.5(b(b), the Lenders’ obligations to make advance the Loan; (b) in a case falling within Clause 6.5(c5.7(c), the Affected Lender’s obligation to participate in the Loan; 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 's notice under Clause 6.5 (6.5 Market disruption) is served before the Loan is made: (a) in a case falling within Clauses 6.5(a) or 6.5(b), the Lenders' obligations to make the Loan; (b) in a case falling within Clause 6.5(c), the Affected Lender’s 's obligation to participate in the Loan; shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 1 contract

Samples: Loan Agreement (Seven Seas Cruises S. DE R.L.)

Suspension of drawdown. If the Agent’s notice under Clause 6.5 5.8 is served before the Loan is made: (a) in a case falling within Clauses 6.5(a5.7(a) or 6.5(b(b), the Lenders’ obligations to make the Loan;; and (b) in a case falling within Clause 6.5(c5.7(c), the Affected Lender’s obligation to participate in the Loan; , shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (B Plus H Ocean Carriers LTD)

Suspension of drawdown. If the Agent’s notice under Clause 6.5 (6.5 Market disruption) is served before the Loan is made: (a) in a case falling within Clauses 6.5(a) or 6.5(b), the Lenders’ obligations to make the Loan; (b) in a case falling within Clause 6.5(c), the Affected Lender’s obligation to participate in the Loan; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Prestige Cruises International, Inc.)

Suspension of drawdown. If the Agent’s notice under Clause 6.5 5.8 is served on the Borrower before the Loan an Advance is made: (a) in a case falling within Clauses 6.5(aparagraphs (a) or 6.5(b)(b) of Clause 5.7, the Lenders’ obligations to make make, and the Loan;Borrower’s obligation to borrow, that Advance; and (b) in a case falling within paragraph (c) of Clause 6.5(c)5.7, the Affected Lender’s obligation to participate in the LoanAdvance; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Danaos Corp)

Suspension of drawdown. If the Agent’s notice under Clause 6.5 5.8 is served before the a Loan is made: (a) in a case falling within Clauses 6.5(aparagraphs (a) or 6.5(b)(b) of Clause 5.7, the Lenders’ obligations to make available the Loan;; and (b) in a case falling within paragraph (c) of Clause 6.5(c)5.7, the Affected Lender’s obligation to participate in the Loan; shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 1 contract

Samples: Loan and Guarantee Facility Agreement (DryShips Inc.)

Suspension of drawdown. If the Agent’s 's notice under Clause 6.5 5.8 is served before the Loan is made: (a) in a case falling within Clauses 6.5(a5.7(a) or 6.5(b5.7(b), the Lenders' obligations to make the Loan;; and 302 EUROPE/66436786v5 (b) in a case falling within Clause 6.5(c)5.7, the Affected Lender’s 's obligation to participate in the Loan; , shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

Suspension of drawdown. If the Agent’s 's notice under Clause 6.5 5.6 is served before the Loan is made: (a) in a case falling within Clauses 6.5(aparagraph (a) or 6.5(b)of Clause 5.5, the Lenders' obligations to make the Loan; (b) in a case falling within paragraph (b) of Clause 6.5(c)5.5, the Affected Lender’s 's obligation to participate in the Loan; shall be suspended while the circumstances referred to in the Agent’s 's notice continue.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

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