Common use of Unrest Clause in Contracts

Unrest. the relevant Flag State of any Ship becomes involved in hostilities or civil war or there is a seizure of power in the relevant Flag State of any Ship by unconstitutional means if, in any such case, such event could in the opinion of the Facility Agent (acting on the instructions of the Majority Lenders) reasonably be expected to have a material adverse effect on the security constituted by any of the Finance Documents; or

Appears in 2 contracts

Samples: On Delivery Facility Agreement (Paragon Shipping Inc.), On Delivery Buyer Credit Facility Agreement (DryShips Inc.)

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Unrest. the relevant Flag State of any Ship a Vessel becomes involved in hostilities or civil war or there is a seizure of power in the relevant such Flag State of any Ship by unconstitutional means if, in any such case, such event could in the opinion of the Facility Agent (acting on the instructions of the Majority Lenders) Lender reasonably be expected to have a material adverse effect Material Adverse Effect on the security constituted by any of the Finance Documents; or

Appears in 1 contract

Samples: Loan Agreement (Imperial Petroleum Inc./Marshall Islands)

Unrest. the relevant Flag State of any Ship becomes involved in hostilities or civil war or there is a seizure of power in the relevant Flag State of any Ship by unconstitutional means if, in any such case, (a) such event could in the opinion of the Facility Agent (acting on the instructions of the Majority Lenders) Bank reasonably be expected to have a material adverse effect on the security constituted by any of the Finance Security Documents; or

Appears in 1 contract

Samples: Junior Loan Agreement (FreeSeas Inc.)

Unrest. the relevant Flag State of any Ship becomes involved in hostilities or civil war or there is a seizure of power in the relevant Flag State of any Ship by unconstitutional means if, in any such case, (a) such event could in the opinion of the Facility Agent (acting on the instructions of the Majority LendersBanks) reasonably be expected to have a material adverse effect on the security constituted by any of the Finance Security Documents; or

Appears in 1 contract

Samples: Senior Loan Agreement (FreeSeas Inc.)

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Unrest. the relevant The Flag State of any Ship Vessel becomes involved in hostilities or civil war or there is a seizure of power in the relevant such Flag State of any Ship by unconstitutional means if, in any such case, such event could in the opinion of the Facility Agent (acting on the instructions of the Majority Lenders) Lender reasonably be expected to have a material adverse effect on the security constituted by any of the Finance Documents; or.

Appears in 1 contract

Samples: Rollover Loan Agreement (Freeseas Inc.)

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