Advance C definition

Advance C means the advance equal to the lesser of (i) USD44,500,000 and (ii) 60% of the Valuation Amount of Vessel C determined no more than 10 days prior to the Drawdown Date relating thereto or, as the context requires, the amount thereof outstanding from time to time;

Advance C means the amount of USD 6,750,000 to be made available to Jasmine to enable Jasmine to repay amounts outstanding under the Iris Loan Agreement;

Advance C means the principal amount of the borrowing by the Borrowers under this Agreement in respect of Ship C or, as the context may require, the principal amount outstanding of such Advance in respect of that Ship under this Agreement.

Examples of Advance C in a sentence

• Advance C is interest bearing at 14% per annum, unsecured and repayable after 12 months from the first drawdown date of the facility and the maturity date may be extended up to 28 February 2022.

• GYE has not repaid Advance C together with interest accrued thereon by the due date (i.e. 28 February 2022) and such amount became immediately payable.

• PLEASE REFER TO ADVANCE RATES ON PAGE 38 total of stored grain commodities: $ Stored Grain Advance C Actual Honey LIVESTOCK COMMODITIES CONTINUE TO NEXT PAGE FOR SIGNATURE.

• Advance C has not yet been repaid by 28 February 2022 and is interest bearing at 25% per annum with effect from 1 March 2022.

• The Notice of Borrowing shall be in writing specifying (A) the Borrowing Date (which shall be a Business Day), (B) the aggregate principal amount of such Advance, (C) with respect to any Eurodollar Advances, the requested Interest Period to apply thereto and (D) the applicable Borrower.

More Definitions of Advance C

Advance C means the lesser of (i) USD9,850,000 and (ii) 60% of the Valuation Amount of Vessel C as at the Drawdown Date of Advance C, to be made available by the Lenders to the Borrower to be applied in or towards payment to the Seller of the cost of acquisition of Vessel C or, as the context requires, the amount thereof outstanding from time to time;

Advance C means the advance of USD19,486,353.62 to be applied in repayment of Advance C as that term is defined in the Existing Loan Agreement or, as the context requires, the amount thereof outstanding from time to time

Advance C means the advance equal to the least of (i) USD20,595,000, (ii) 60% of the Valuation Amount of Vessel C determined no more than 10 days prior to the Drawdown Date relating thereto and (iii) 60% of the Purchase Price of Vessel C, to be applied in or towards the acquisition of Vessel C or, as the context requires, the amount thereof outstanding from time to time;

Advance C means the principal amount of up to the lesser of (i) USD6,000,000 and (ii) 50% of the Valuation Amount of Vessel C as at the relevant Drawdown Date, to be made available by the Lenders to the Borrowers subject to clause 2 of this Agreement for the purpose described in clause 2.1 or, as the context requires, the amount thereof outstanding from time to time;

Advance C means the advance equal to the lesser of (i) USD60,000,000 and (ii) 65% of the Valuation Amount of the Newbuilding no more than a month prior to her acquisition by Nostos, to be applied to in or towards the acquisition of the Newbuilding;

Advance C means the lesser of (i) thirteen million one hundred and sixty thousand Dollars (USD13,160,000) and (ii) 70% of the Market Value of “GAS EXELERO” as determined on the relevant Drawdown Date and, as the context may require, means the principal amount thereof owing to the Banks under this Agreement at any relevant time;

Advance C means, in relation to Ship C, an amount equal to the lesser of (i) $8,250,000 and (b) 55 per cent. of the Market Value of Ship C which shall be made available for the purpose of refinancing the Existing Indebtedness of Ship C;