LOAN AGREEMENTLoan Agreement • April 4th, 2008 • Danaos Corp • Deep sea foreign transportation of freight
The Lender has agreed to make available to the Borrower a facility of up to the lesser of (a) US$156,800,000 and (b) the lesser of 80 per cent of (i) the aggregate Ready for Sea Cost of the Ships and (ii) the aggregate Initial Market Value of the Ships, for the purpose of part-financing the Ready for Sea Cost of each Ship. The facility shall be divided into two Tranches, each of which may be made available in up to five Advances.
