The Loan and Its Purpose. 2.1 Amount Subject to the terms of this Agreement, the Lenders agree to make available to the Borrower a term loan not exceeding the Maximum Loan Amount.
The Loan and Its Purpose. 2.1 Amount Subject to the terms of this Agreement, the Lender agrees to make available to the Borrower a revolving credit facility in an aggregate amount not exceeding the Maximum Amount at any one time.
The Loan and Its Purpose. 2.1 Agreement to lend Subject to the terms and conditions of this Agreement, and in reliance on each of the representations and warranties made or to be made in or in accordance with each of the Security Documents, each of the Banks agrees to advance to the Borrower, to provide post-delivery financing on the Vessels.
2.2 Drawings Subject to satisfaction by the Borrowers of the conditions precedent set out in Clause 3.1 and 3.2, and subject to Clause 2.3, the Loan shall be advanced to the Borrower in no more than two (2) Drawings, one per Tranche, in each case by the Agent transferring the Tranches to the Borrower by such method of funds transfer as the Agent and the Borrower shall agree.
The Loan and Its Purpose. 2.1. Subject to the terms and conditions contained in this Agreement (including, without limitation, any cancellation of any Commitment), and in reliance on each of the representations and warranties made or to be made in or in accordance with each of the Finance Documents, each of the Banks agrees to advance to the Borrowers its Commitment of a term loan comprising up to four (4) Vessel Loans and, subject to the terms of Clause 2.2, in an aggregate amount not exceeding five hundred and twenty million Dollars ($520,000,000). The Borrowers shall use the Vessel Loans for the purposes referred to in Recital (B).
2.2. Subject to the satisfaction by the Borrowers of the conditions set out in Clause 3.1, 3.2 or 3.3 (as the case may be), the Loan shall be advanced to the Borrowers or to their order in no more than four (4) Drawings (and only one (1) Drawing per Vessel Loan). Each Drawing shall be advanced on a Business Day in Dollars and shall be by such method of funds transfer as the Agent shall determine, provided that the total amount advanced in connection with a Vessel shall, subject to the aggregate amount of the four (4) Vessel Loans not exceeding the maximum amount referred to at Clause 2.1, not exceed eighty per cent (80%) of the Purchase Price of that Vessel and the maximum amount specified for that Vessel in Schedule 6; and provided that the Borrowers shall have submitted a Drawdown Notice to the Agent not more than ten (10) and not fewer than three (3) Business Days before the required Advance Date for the Drawing or Drawings in question. Each Drawdown Notice shall be submitted to the Agent via email, with the original to follow via express mail. Each Drawdown Notice, once given, shall be irrevocable and shall constitute a warranty by the Borrowers that all conditions precedent to the advance of the Drawing or Drawings in question will have been satisfied on or before the requested Advance Date; that no Event of Default or Potential Event of Default will then have occurred, and that no Event of Default or Potential Event of Default will result from the advance of the Drawing or Drawings in question. The Agent shall, on receipt of the email copy of the Drawdown Notice, notify the Banks of the receipt of a Drawdown Notice, following which, each Bank shall advance its Proportionate Share of the relevant Drawing(s) to the Agent on the relevant Advance Date. Any undrawn amounts in respect of a Vessel Loan shall automatically be cancelled on the earlier of...
The Loan and Its Purpose. 2.1 Agreement to lend Subject to the terms and conditions of this Agreement, and in reliance on each of the representations and warranties made or to be made in or in accordance with each of the Security Documents, each of the Banks agrees to advance to the Borrowers its Commitment of an aggregate amount not exceeding the Maximum Loan Amount to be used by the Borrowers for the purposes referred to in Recital (C).
2.2 Drawings Subject to satisfaction by the Borrowers of the conditions set out in Clause 3, and subject to Clause 2.3, the Loan shall be advanced to the Borrowers in no more than one Drawing. The Agent shall transfer the amount of the Loan to the Borrowers or their order, by such method of funds transfer as the Agent and the Borrowers shall agree.
The Loan and Its Purpose. 2.1 AGREEMENT TO LEND Subject to the terms and conditions of this Agreement, and in reliance on each of the representations and warranties made or to be made in or in accordance with each of the Security Documents, each of the Banks agrees to advance to the Borrower its Commitment of an aggregate amount not exceeding the Maximum Loan Amount to be used by the Borrower for the purposes referred to in Recital (C).
2.2 DRAWINGS Subject to satisfaction by the Borrower of the conditions set out in Clause 3.1, and subject to Clause 2.3, the Loan shall be advanced to the Borrower in one Drawing by the Agent transferring the amount of the Drawing to the Borrower by such method of funds transfer as the Agent and the Borrower shall agree.
The Loan and Its Purpose. 2.1 AGREEMENT TO LEND Subject to the terms and conditions of this Agreement, and in reliance on each of the representations and warranties made or to be made in or in accordance with each of the Security Documents, each of the Banks agrees to advance to the Borrowers an aggregate amount not exceeding the Maximum Loan Amount to be used by the Borrowers for the purpose referred to in Recital (C).
The Loan and Its Purpose. 2.1 Agreement to lend Subject to the terms and conditions of this Agreement, and in reliance on each of the representations and warranties made or to be made in or in accordance with each of the Security Documents, each of the Banks agrees to advance to the Borrowers its Commitment of an aggregate amount not exceeding the Maximum Loan Amount to be used by the Borrowers for the purposes referred to in Recital (C).
2.2 Drawings Subject to satisfaction by the Borrowers of the conditions set out in Clause 3, and subject to Clause 2.3, the Loan shall be advanced to the Borrowers in no more than two Drawings (one for each of Tranche A and Tranche B). In each case the Agent shall transfer the amount of the Drawing to the Borrowers and/or, in the case of Tranche A, to the Existing Lenders and in the case of Tranche B to the Borrowers or their order, by such method of funds transfer as the Agent and the Borrowers shall agree.
The Loan and Its Purpose. 2.1 Amount Subject to the terms of this Agreement, each of the Lenders agrees to make available to the Borrower its Commitment in the relevant Tranche in an aggregate amount not exceeding the Maximum Amount.
2.2 Finance Parties’ obligations The obligations of each Finance Party under the Finance Documents are several. Failure by a Finance Party to perform its obligations under the Finance Documents does not affect the obligations of any other party to the Finance Documents. No Finance Party is responsible for the obligations of any other Finance Party under the Finance Documents.
The Loan and Its Purpose
