Valuations binding. Any valuation under Clause 15.2 (Provision of additional security; prepayment), 15.3 (Valuation of Ship) or 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower, as shall be any valuation which the Majority Lenders make of any additional security which does not consist of or include a Security Interest.
Appears in 2 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Valuations binding. Any valuation under Clause 15.2 (Provision of additional security; prepayment14.1(i), 15.3 (Valuation of Ship) 14.4 or 15.4 (Value of additional vessel security) 14.5 shall be binding and conclusive as regards the BorrowerBorrower and the Ship, as shall be any valuation which the Majority Lenders make Lender makes of any additional a security which does not consist of or include a Security Interest.
Appears in 2 contracts
Samples: Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (NewLead Holdings Ltd.)
Valuations binding. Any valuation under Clause 15.2 (Provision Prepayment; provision of additional security; prepayment), 15.3 (Valuation of ShipShips) or 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower, Borrower as shall be any valuation which the Majority Lenders make Lender makes of any additional security which does not consist of or include a Security Interest.
Appears in 2 contracts
Samples: Loan Agreement (Toro Corp.), Loan Agreement (Castor Maritime Inc.)
Valuations binding. Any valuation under Clause 15.2 (Provision of additional security; prepayment), 15.3 15.4 (Valuation of Ship) or 15.4 15.5 (Value of additional vessel security) shall be binding and conclusive as regards the BorrowerBorrowers, as shall be any valuation which the Majority Lenders make of any additional a security which does not consist of or include a Security Interest.
Appears in 2 contracts
Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.)
Valuations binding. Any valuation under Clause 15.2 (Provision of additional security; prepayment), 15.3 (Valuation of Ship) or 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the BorrowerBorrowers, as shall be any valuation which the Majority Lenders make of any additional security which does not consist of or include a Security Interest.
Appears in 1 contract
Samples: Term Loan Facility Agreement (Navios Maritime Partners L.P.)
Valuations binding. Any valuation under Clause 15.2 (Provision Prepayment; provision of additional security; prepayment), 15.3 (Valuation of ShipShips ) or 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower, as shall be any valuation which the Majority Lenders make of any additional security which does not consist of or include a Security Interest.
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Valuations binding. Any valuation under Clause Clauses 15.2 (Provision of additional security; prepayment), 15.3 (Valuation of Shipthe Ships) or 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the BorrowerBorrowers, as shall be any valuation which the Majority Lenders make of any additional security which does not consist of or include a Security Interest.
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Valuations binding. Any valuation under Clause 15.2 (Provision of additional security; prepayment), 15.3 (Valuation of a Ship) or 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the BorrowerBorrowers, as shall be any valuation which the Majority Lenders make Agent makes of any additional a security which does not consist of or include a Security Interest.
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Valuations binding. Any valuation under Clause 15.2 (Provision Prepayment; provision of additional security; prepayment), 15.3 (Valuation of Ship) or 15.4 (Value of additional vessel security) shall (absent manifest error) be binding and conclusive as regards the Borrower, as shall be any valuation which the Majority Lenders make of any additional security which does not consist of or include a Security Interest.
Appears in 1 contract
Samples: Loan Agreement (EuroDry Ltd.)
Valuations binding. Any valuation under Clause 15.2 (Provision Prepayment; provision of additional security; prepayment), 15.3 (Valuation of ShipShips) or 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the BorrowerBorrowers, as shall be any valuation which the Majority Lenders make of any additional security which does not consist of or include a Security Interest.
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Valuations binding. Any valuation under Clause 15.2 (Provision Prepayment; provision of additional security; prepayment), 15.3 (Valuation of ShipShips) or 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower, as shall be any valuation which the Majority Lenders make of any additional security which does not consist of or include a Security Interest.
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Valuations binding. Any valuation under Clause 15.2 (Provision of additional security; prepayment), 15.3 (Valuation of ShipShips) or 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the BorrowerBorrowers and the Lenders, as shall be any valuation which the Majority Lenders make of any additional security which does not consist of or include a Security InterestInterest over a vessel.
Appears in 1 contract
Samples: Loan Agreement (Euronav NV)
Valuations binding. Any valuation Valuation under Clause Clauses 15.2 (Provision of additional security; prepayment), 15.3 (Valuation of Ship) or 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower, as shall be any valuation which the Majority Lenders make of any additional security which does not consist of or include a Security Interest.
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