Unlawfulness. If it is or becomes contrary to any law or regulation for the Bank to make any Advance or to maintain the Commitment or fund the Loan, the Bank shall promptly give notice to the Borrowers whereupon (a) the Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay the Loan either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement and/or the Master Swap Agreement.
Appears in 5 contracts
Samples: Tenth Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Eighth Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Supplemental Agreement (Aegean Marine Petroleum Network Inc.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the Bank to make any an Advance or to maintain the its Commitment or fund the Loan, the Bank shall promptly give notice to the Borrowers Borrower whereupon (a) the Commitment shall be reduced to zero and (b) the Borrowers Borrower shall be obliged to prepay the Loan either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers Borrower under this Agreement and/or the Master Swap AgreementAgreement or either of them.
Appears in 4 contracts
Samples: Facility Agreement (Freeseas Inc.), Loan Agreement (Globus Maritime LTD), Agreement (FreeSeas Inc.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the Bank to make any Advance advance the Loan or to maintain the Commitment or fund the Loan, the Bank shall promptly give notice to the Borrowers Borrower whereupon (a) the Commitment shall be reduced to zero and (b) the Borrowers Borrower shall be obliged to prepay the Loan either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers Borrower under this Agreement and/or the Master Swap Agreement.
Appears in 4 contracts
Samples: Agreement (NewLead Holdings Ltd.), Master Agreement (Capital Maritime & Trading Corp.), Loan Agreement (DryShips Inc.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the any Bank to make any contribute to an Advance or to maintain the its Commitment or fund the Loan, the such Bank shall promptly promptly, through the Agent, give notice to the Borrowers whereupon (a) the such Bank’s Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay the Loan such Bank’s Commitment either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement and/or the Master Swap AgreementAgreements or any of them.
Appears in 4 contracts
Samples: Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.), Supplemental Agreement (Aegean Marine Petroleum Network Inc.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the any Bank to make any contribute to an Advance or to maintain the its Commitment or fund the Loan, the such Bank shall promptly promptly, through the Agent, give notice to the Borrowers whereupon (a) the such Bank’s Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay the Loan such Bank’s Contribution either (i) forthwith or (ii) on a future specified date not being earlier later than the latest earliest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement and/or the Master Swap Agreement.
Appears in 3 contracts
Samples: Master Swap Agreement (Quintana Shipping Ltd.), Supplemental Agreement (Quintana Shipping Ltd.), Supplemental Agreement (Quintana Shipping Ltd.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the any Bank to make any contribute to an Advance or to maintain the its Commitment or fund the Loanits Contribution, the such Bank shall promptly promptly, through the Agent, give notice to the Borrowers whereupon (a) the such Bank’s Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay the Loan such Bank’s Contribution either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement and/or the Master Swap Agreement.
Appears in 2 contracts
Samples: Loan Agreement (Poseidon Containers Holdings Corp.), Agreement (DryShips Inc.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the Bank to make any Advance or to maintain the Commitment or fund the Loan, the Bank shall promptly give notice to the Borrowers whereupon (a) the Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay the Loan either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement and/or the Master Swap Agreement.
Appears in 2 contracts
Samples: Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the any Bank to make any contribute to an Advance or to maintain the its Commitment or fund the Loan, the such Bank shall promptly promptly, through the Agent, give notice to the Borrowers whereupon (a) the such Bank's Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay the Loan such Bank's Contribution either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement and/or the Master Swap AgreementAgreement or either of them.
Appears in 2 contracts
Samples: Agreement (Aegean Marine Petroleum Network Inc.), Agreement (Aegean Marine Petroleum Network Inc.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the Bank to make any Advance or to maintain the Commitment or fund the Loan, Loan the Bank shall promptly give notice to the Borrowers Borrower whereupon (a) the Commitment shall be reduced to zero and (b) the Borrowers Borrower shall be obliged to prepay the Loan either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers Borrower under this Agreement and/or the Master Swap Agreement.
Appears in 2 contracts
Samples: Supplemental Agreement (Top Ships Inc.), Agreement (Top Tankers Inc.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the Bank to make any Advance the Loan available or to maintain the its Commitment or fund the Loan, the Bank shall promptly give notice to the Borrowers Borrower whereupon (a) the Commitment shall be reduced to zero and (b) the Borrowers Borrower shall be obliged to prepay the Loan either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers Borrower under this Agreement and/or the Master Swap Agreement.
Appears in 2 contracts
Samples: Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the any Bank to make any contribute to an Advance or to maintain the its Commitment or fund the Loan, the such Bank shall promptly promptly, through the Agent, give notice to the Borrowers whereupon (a) the such Bank's Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay the Loan such Bank's Commitment either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement and/or the Master Swap AgreementAgreements or any of them.
Appears in 2 contracts
Samples: Tenth Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Agreement (Aegean Marine Petroleum Network Inc.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the any Bank to make any contribute to an Advance or to maintain the its Commitment or fund the Loanits Contribution, the such Bank shall promptly promptly, through the Agent, give notice to the Borrowers whereupon (a) the Total Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay the Loan either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement and/or the Master Swap Agreement.
Appears in 2 contracts
Samples: Supplemental Agreement (Diana Shipping Inc.), Loan Agreement (DryShips Inc.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the Bank to make any Advance advance the Loan or to to, maintain the Commitment or fund the Loan, Loan the Bank shall promptly give notice to the Borrowers Borrower whereupon (a) the Commitment shall be reduced to zero and (b) the Borrowers Borrower shall be obliged to prepay the Loan either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers Borrower under this Agreement and/or the Master Swap Agreement.;
Appears in 2 contracts
Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the any Bank to make any contribute to an Advance or to maintain the its Commitment or fund the Loan, the such Bank shall promptly promptly, through the Agent, give notice to the Borrowers whereupon (a) the such Bank’s Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay the Loan such Bank’s Contribution either (i) forthwith or (ii) on a future specified date not being earlier later than the latest earliest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement and/or the Master Swap Agreement.
Appears in 2 contracts
Samples: Agreement (Quintana Shipping Ltd.), Loan Agreement (Quintana Shipping Ltd.)
Unlawfulness. If it is or becomes contrary to any law or regulation for the Bank to make any Advance the Loan or to maintain the Commitment or fund the Loan, Loan the Bank shall promptly give notice to the Borrowers whereupon (a) the Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay the Loan either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement and/or the Master Swap Agreement.
Appears in 1 contract
Unlawfulness. If it is or becomes contrary to any law or regulation for the Bank to make any Advance or to maintain the Commitment or fund the Loan, Loan the Bank shall promptly give notice to the Borrowers whereupon (a) the Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay the Loan either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement and/or the Master Swap Agreement.
Appears in 1 contract
Samples: Agreement (Top Tankers Inc.)
Unlawfulness. If if it is or becomes contrary to any law or regulation for the Bank to make any Advance or to maintain the Commitment or fund the Loan, the Bank shall promptly give notice to the Borrowers whereupon (a) the Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay the Loan either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law or regulation together with interest and commitment commission accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement and/or the Master Swap Agreement.
Appears in 1 contract
Samples: Loan Agreement (Aegean Marine Petroleum Network Inc.)