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; and (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 6 contracts

Samples: Loan Agreement, Loan Agreement (Costamare Partners LP), Loan Agreement (Costamare Partners LP)

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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 Lender’s obligation to participate in the Advance, such Advance shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 6 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

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 Lender’s obligation to participate in the Advance, Advance shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 3 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Eagle Bulk Shipping Inc.), Loan Agreement (Quartet Holdco 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 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 3 contracts

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

Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 5.7 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 5.6, the Lenders' obligations to make the Advance; and; (b) in a case falling within paragraph (c) of Clause 5.7(c)5.6, 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 3 contracts

Samples: Loan Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.), Loan Agreement (DryShips 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; and; (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 3 contracts

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

Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 is served before an the Advance is made: (a) in In a case falling within Clauses Clause 5.7(a) or 5.7(b), the Lenders’ obligations Lender's obligation to make advance the Advance; and (b) in 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 3 contracts

Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (EuroDry Ltd.), Loan Agreement (Euroseas Ltd.)

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' 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 3 contracts

Samples: Loan Agreement, Loan Agreement (Dynagas LNG Partners LP), Loan Agreement (Dynagas LNG Partners LP)

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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; and (b) in a case falling within Clause 5.7(c), the Affected Lender’s obligation to participate in the Advance, Advance shall be suspended while the circumstances referred to in the Agent’s notice continue.

Appears in 2 contracts

Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)

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

Appears in 1 contract

Samples: Loan Agreement (Euronav NV)

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), made the Lenders’ obligations to make the Advance; and (b) in a case falling within Clause 5.7(c), the Affected Lender’s obligation to participate in the Advance, Advance shall be suspended while the circumstances referred to in the Agent’s notice continuecontinue unless and until an alternative interest rate has been agreed in accordance with Clauses 5.10 to 5.12 (inclusive).

Appears in 1 contract

Samples: Loan Agreement (Euronav NV)

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

Appears in 1 contract

Samples: Loan Agreement (Dynagas LNG Partners LP)

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