RECITALS: -------- WHEREAS, the Borrower and the Guarantor have requested that Bank provide to the Borrower a revolving credit facility in the initial aggregate principal amount of up to Thirty-Three Million and 00/100 Dollars ($33,000,000)...Credit Agreement • November 12th, 1997 • Maritrans Inc /De/ • Water transportation • Pennsylvania
33,000,000.00 Philadelphia, Pennsylvania October 17, 1997 FOR VALUE RECEIVED, and intending to be legally bound hereby, the undersigned, MARITRANS TANKERS INC., a Delaware corporation (the "Borrower"), promises to pay to the order of MELLON BANK,...Loan Agreement • November 12th, 1997 • Maritrans Inc /De/ • Water transportation
FOR VALUE RECEIVED, and intending to be legally bound hereby, the undersigned, MARITRANS TANKERS INC., a Delaware corporation (the "Borrower"), promises to pay to the order of MELLON BANK, N.A., with offices at Mellon Bank Center, 1735 Market Street, Philadelphia, PA 19103 (the "Bank") the principal sum of THIRTY-THREE MILLION DOLLARS ($33,000,000.00), or so much thereof as may be advanced and outstanding from time to time, together with interest accruing on the unpaid principal amount hereof outstanding from time to time at the "Loan Rate" (as that term is defined in the "Credit Agreement" referred to below), payable on the dates and terms provided below and subject to the additional terms and conditions of the Credit Agreement.
Exhibit 10.5 Exh. 10.5 PREFERRED SHIP MORTGAGE ----------------------- THIS PREFERRED SHIP MORTGAGE made as of October 17, 1997 by and between MARITRANS TANKERS INC., whose address is Fort Mifflin Road, Philadelphia, PA 19153 (the "Mortgagor"), and...Preferred Ship Mortgage • November 12th, 1997 • Maritrans Inc /De/ • Water transportation • Pennsylvania
