Unlawfulness. If it is or becomes contrary to any law, directive or regulation for any Lender to contribute to an Advance or to maintain its Commitment or fund its Contribution to the Loan or any Advance, such Lender shall promptly, through the Agent, give notice to the Borrowers whereupon (a) such Lender’s Contribution and Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay such Lender’s Contribution either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law, directive or regulation together with interest accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement.
Appears in 13 contracts
Samples: Agreement (Navios Maritime Partners L.P.), Agreement (Navios Maritime Acquisition CORP), Agreement (Navios Maritime Holdings Inc.)
Unlawfulness. If it is or becomes contrary to any law, directive or regulation for any Lender to contribute to an Advance or to maintain its Commitment or fund its Contribution to the Loan or any Advance, such Lender shall promptly, through the Agent, give notice to the Borrowers Borrower whereupon (a) such Lender’s Contribution and Commitment shall be reduced to zero and (b) the Borrowers Borrower shall be obliged to prepay such Lender’s Contribution either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law, directive or regulation together with interest accrued to the date of prepayment and all other sums payable by the Borrowers Borrower under this Agreement.
Appears in 4 contracts
Samples: Agreement (Navios Maritime Partners L.P.), Private and Confidential (Navios Maritime Holdings Inc.), Agreement (Navios Maritime Partners L.P.)
Unlawfulness. If it is or becomes contrary to any law, directive or regulation for any Lender to contribute to an Advance the Loan or to maintain its Commitment or fund its Contribution to the Loan or any AdvanceLoan, such Lender shall promptly, through the Agent, give notice to the Borrowers Borrower whereupon (a) such Lender’s Contribution and Commitment shall be reduced to zero and (b) the Borrowers Borrower shall be obliged to prepay such Lender’s Contribution either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law, directive or regulation together with interest accrued to the date of prepayment and all other sums payable by the Borrowers Borrower under this Agreement.
Appears in 4 contracts
Samples: Agreement, Agreement (Navios Maritime Partners L.P.), Agreement (Navios Maritime Partners L.P.)
Unlawfulness. If it is or becomes contrary to any law, directive or regulation for any Lender to contribute to an Advance or to maintain its Commitment or fund its Contribution to the Loan or any either Advance, such Lender shall promptly, through the Agent, give notice to the Borrowers Borrower whereupon (a) such Lender’s Contribution and Commitment shall be reduced to zero and (b) the Borrowers Borrower shall be obliged to prepay such Lender’s Contribution either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law, directive or regulation together with interest accrued to the date of prepayment and all other sums payable by the Borrowers Borrower under this Agreement.
Appears in 2 contracts
Samples: Agreement (Navios Maritime Holdings Inc.), Agreement (Navios Maritime Holdings Inc.)
Unlawfulness. If it is or becomes unlawful or contrary to any law, a directive or regulation for any Lender to contribute to an Advance a Tranche or to maintain its Commitment or fund its Contribution to the Loan or any Advancea Tranche, such Lender shall promptly, through the Agent, give notice to the Borrowers whereupon (a) such Lender’s Contribution and Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay such Lender’s Contribution either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law, directive or regulation together with interest accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement.
Appears in 2 contracts
Samples: Agreement (Navios Maritime Holdings Inc.), Navios Maritime Holdings Inc.
Unlawfulness. If it is or becomes contrary to any law, directive or regulation for any Lender to contribute to an Advance or to maintain its Commitment or fund its Contribution to the Loan or any Advance, such Lender shall promptly, through the Agent, give notice to the Borrowers whereupon (a) such Lender’s Contribution and Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay such Lender’s Table of Contents Contribution either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law, directive or regulation together with interest accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement.
Appears in 1 contract
Samples: Navios Maritime Holdings Inc.
Unlawfulness. If it is or becomes contrary to any law, directive or regulation for any Lender to contribute to an Advance the Loan or to maintain its Commitment or fund its Contribution to the Loan or any AdvanceLoan, such Lender shall promptly, through the Agent, give notice to the Borrowers Borrower whereupon (a) such Lender’s Contribution and Commitment shall be reduced to zero and (b) the Borrowers Borrower shall be obliged to prepay such Lender’s Contribution either (i) forthwith or (ii) on a future specified date not being earlier later than the latest date permitted by the relevant law, directive or regulation together with interest accrued to the date of prepayment and all other sums payable by the Borrowers Borrower under this Agreement.
Appears in 1 contract
Unlawfulness. If it is or becomes contrary to any law, directive or regulation for any Lender to contribute to an Advance or to maintain its Commitment or fund its Contribution to the Loan or any Advance, such Lender shall promptly, through the Agent, give notice to the Borrowers whereupon (a) such Lender’s Contribution and Commitment shall be reduced to zero and (b) the Borrowers shall be obliged to prepay such Lender’s 35 Table of Contents Contribution either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law, directive or regulation together with interest accrued to the date of prepayment and all other sums payable by the Borrowers under this Agreement.
Appears in 1 contract
Samples: Navios Maritime Acquisition CORP
Unlawfulness. If it is or becomes unlawful or contrary to any law, a directive or regulation for any Lender to contribute to an Advance or to maintain its Commitment or fund its Contribution to the Loan or any an Advance, such Lender shall promptly, through the Agent, give notice to the Borrowers Borrower whereupon (a) such Lender’s Contribution and Commitment shall be reduced to zero and (b) the Borrowers Borrower shall be obliged to prepay such Lender’s Contribution either (i) forthwith or (ii) on a future specified date not being earlier than the latest date permitted by the relevant law, directive or regulation together with interest accrued to the date of prepayment and all other sums payable by the Borrowers Borrower under this Agreement.
Appears in 1 contract