Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before a Tranche is made: (a) in a case falling within Clauses 5.7(a) or 5.7(b), the Lenders’ obligations to make the Tranche; and (b) in a case falling within Clause 5.7(c), the Affected Lender’s obligation to participate in the Tranche, shall be suspended while the circumstances referred to in the Agent’s notice continue.
Appears in 3 contracts
Samples: Loan Agreement (Global Ship Lease, Inc.), Amending and Restating Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Box Ships Inc.)
Suspension of drawdown. If the Agent’s notice under Clause 5.8 5.6 is served before a Tranche is madeadvanced:
(a) in a case falling within Clauses 5.7(aparagraph (a) or 5.7(b)of Clause 5.5, the Lenders’ obligations to make advance the relevant Tranche; and;
(b) in a case falling within paragraph (b) of Clause 5.7(c)5.5, the Affected Lender’s obligation to participate in the relevant Tranche, ; shall be suspended while the circumstances referred to in the Agent’s notice continue.
Appears in 3 contracts
Samples: Loan Facility Agreement (Star Bulk Carriers Corp.), Loan Facility Agreement (Star Bulk Carriers Corp.), Loan Agreement (Star Bulk Carriers Corp.)
Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 is served before a Tranche is made:
(a) in a case falling within Clauses 5.7(a) or 5.7(b), the Lenders’ ' obligations to make the Tranche; and
(b) in a case falling within Clause 5.7(c), the Affected Lender’s 's obligation to participate in the Tranche, shall be suspended while the circumstances referred to in the Agent’s 's notice continue.
Appears in 3 contracts
Samples: Loan Agreement (Box Ships Inc.), Amending and Restating Agreement (Box Ships Inc.), Amending and Restating Agreement (Box Ships Inc.)
Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 is served before a Tranche is made:
(a) in a case falling within Clauses 5.7(a) or 5.7(b(b), the Lenders’ ' obligations to make the that Tranche; and
(b) in a case falling within Clause 5.7(c), the Affected Lender’s 's obligation to participate in the such Tranche, shall be suspended while the circumstances referred to in the Agent’s 's notice continue.
Appears in 2 contracts
Samples: Loan Agreement (Scorpio Bulkers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 is served before a Tranche is made:
(a) in a case falling within Clauses 5.7(a) or 5.7(b), the Lenders’ obligations to make the Tranche; and
(b) in a case falling within Clause 5.7(c), advanced the Affected Lender’s 's obligation to participate in the that Tranche, shall be suspended while the circumstances referred to in the Agent’s 's notice continue.
Appears in 2 contracts
Samples: Loan Agreement (DryShips Inc.), Loan Agreement (Star Bulk Management Inc.)
Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 is served before a Tranche is madeadvanced:
(a) in a the case falling within Clauses Clause 5.7(a) or 5.7(b), the Lenders’ obligations Lender's obligation to make the advance that Tranche; and
(b) in a the case falling within Clause 5.7(c5.7(b), the Affected Lender’s 's obligation to participate in the that Tranche, shall be suspended while the circumstances referred to in the Agent’s 's notice continue.
Appears in 1 contract
Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 is served before a Tranche is made:
(a) in a case falling within Clauses 5.7(a) or 5.7(b), the Lenders’ obligations to make the Tranche; and
(b) in a case falling within Clause 5.7(c), advanced the Affected Lender’s Xxxxxx's obligation to participate in the that Tranche, shall be suspended while the circumstances referred to in the Agent’s 's notice continue.
Appears in 1 contract
Suspension of drawdown. If the Agent’s notice under Clause 5.8 5.6 is served before a Tranche is made:
(a) in a case falling within Clauses 5.7(a) or 5.7(b), the Lenders’ obligations to make the Tranche; and
(b) in a case falling within Clause 5.7(c), advanced the Affected Lender’s obligation to participate in the that Tranche, shall be suspended while the circumstances referred to in the Agent’s notice continue.
Appears in 1 contract
Samples: Loan Agreement (Pyxis Tankers Inc.)
Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before a Tranche is madeadvanced:
(a) in a case falling within Clauses 5.7(a) or 5.7(b(b), the Lenders’ obligations Lender’s obligation to make the advance that Tranche; and
(b) in a case falling within Clause 5.7(c), the Affected Lender’s obligation to participate in the that Tranche, shall be suspended while the circumstances referred to in the Agent’s notice continue.
Appears in 1 contract
Suspension of drawdown. If the Agent’s notice under Clause 5.8 is served before a Tranche is made:
(a) in a case falling within Clauses 5.7(a) or 5.7(b(b), the Lenders’ obligations to make the that Tranche; and
(b) in a case falling within Clause 5.7(c), the Affected Lender’s obligation to participate in the such Tranche, shall be suspended while the circumstances referred to in the Agent’s notice continue.
Appears in 1 contract
Suspension of drawdown. If the Agent’s 's notice under Clause 5.8 is served before a Tranche is madeadvanced:
(a) in In a case falling within Clauses Clause 5.7(a) or 5.7(b), the Lenders’ obligations Lender's obligation to make the advance that Tranche; and
(b) in a case falling failing within Clause 5.7(c5.7(b), the Affected Lender’s 's obligation to participate in the that Tranche, shall be suspended while the circumstances referred to in the Agent’s 's notice continue.
Appears in 1 contract
