Common use of Suspension of drawdown Clause in Contracts

Suspension of drawdown. If the Facility Agent’s notice under Clause 4.5 is served before the Advance is made, then while the circumstances referred to in the Facility Agent’s notice continue: (a) in the case of Clause 4.5(a) or (b), each Lender’s obligation to make its Ratable Portion of the Advance; and (b) in the case of Clause 4.5(c), the Affected Lender’s obligation to make its Ratable Portion of the Advance, shall be suspended while the circumstances referred to in the Facility Agent’s notice continue.

Appears in 2 contracts

Samples: Loan Agreement (TBS International LTD), Loan Agreement (TBS International LTD)

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

Appears in 2 contracts

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

Suspension of drawdown. If the Facility Agent’s notice under Clause 4.5 5.6 is served before the an Advance is made, then while the circumstances referred to in the Facility Agent’s notice continue: (a) in the a case of Clause 4.5(afalling within paragraphs (a) or (b)) of Clause 5.5, each Lender’s obligation the Lenders’ obligations to make its Ratable Portion of the Advance; and; (b) in the a case falling within paragraph (c) of Clause 4.5(c)5.5, the Affected Lender’s obligation to make its Ratable Portion of participate in the Advance, shall be suspended while the circumstances referred to in the Facility Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement

Suspension of drawdown. If the Facility Agent’s notice under Clause 4.5 5.6 is served before the an Advance is made, then while the circumstances referred to in the Facility Agent’s notice continue: (a) in the a case of Clause 4.5(afalling within paragraphs (a) or (b)) of Clause 5.5, each Lender’s obligation the Lenders’ obligations to make its Ratable Portion of the Advance; andIndex (b) in the a case falling within paragraph (c) of Clause 4.5(c)5.5, the Affected Lender’s obligation to make its Ratable Portion of participate in the Advance, 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 Facility Agent’s notice under Clause 4.5 is served before the an Advance is made, then while the circumstances referred to in the Facility Agent’s notice continue: (a) in the case of Clause 4.5(a) or (b), each Lender’s obligation to make its Ratable Portion of the such Advance; and (b) in the case of Clause 4.5(c), the Affected Lender’s obligation to make its Ratable Portion of the such Advance, shall be suspended while the circumstances referred to in the Facility Agent’s notice continue.

Appears in 1 contract

Samples: Loan Agreement (Ultrapetrol Bahamas LTD)

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Suspension of drawdown. If the Facility Agent’s notice under Clause 4.5 is shall be served before the Advance is made, then while the circumstances referred to in the Facility Agent’s notice continue: (a) in the case of Clause 4.5(a) or (b), each Lender’s obligation to make its Ratable Portion of the AdvanceAdvance shall be suspended; and (b) in the case of Clause 4.5(c4.5(b), the Affected Lender’s obligation to make its Ratable Portion of the Advance, Advance shall be suspended while the circumstances referred to in the Facility Agent’s notice continuesuspended.

Appears in 1 contract

Samples: Loan Agreement (Top Ships Inc.)

Suspension of drawdown. If the Facility Agent’s notice under Clause 4.5 5.7 is served before the an Advance or Tranche is made, then while the circumstances referred to in the Facility Agent’s notice continue: (a) in the a case of Clause 4.5(afalling within paragraphs (a) or (b)) of Clause 5.6, each Lender’s obligation the Lenders’ obligations to make its Ratable Portion of the Advance; andAdvance or Tranche; (b) in the a case falling within paragraph (c) of Clause 4.5(c)5.6, the Affected Lender’s obligation to make its Ratable Portion of participate in the AdvanceAdvance or Tranche, 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.)

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