Application to Master Agreement Clause Samples
The "Application to Master Agreement" clause defines how the terms and conditions of a specific agreement or amendment apply to an overarching master agreement between the parties. Typically, this clause clarifies whether the new terms supplement, modify, or override provisions in the master agreement, and may specify which sections are affected. Its core function is to ensure consistency and clarity in the contractual relationship by explicitly stating how new or revised terms interact with the existing master agreement, thereby preventing conflicts or misunderstandings.
Application to Master Agreement. For the avoidance of doubt, Clause 21.5 does not apply in respect of sums due from the Borrower to the Swap Bank under or in connection with the Master Agreement as to which sums the provisions of section 8 (Contractual Currency) of the Master Agreement shall apply.
Application to Master Agreement. For the avoidance of doubt, this Clause 7 does not apply to any amount payable under the Master Agreement in respect of any continuing Designated Transaction as to which section 2(e) (Default Interest; Other Amounts) of the Master Agreement shall apply.
Application to Master Agreement. For the avoidance of doubt, Clause 21 does not apply in respect of sums due from the Borrowers to the Lender under or in connection with the Master Agreement as to which sums the provisions of section 2(d) (Deduction or Withholding for Tax) of the Master Agreement shall apply.
Application to Master Agreement. For the avoidance of doubt, Clause
Application to Master Agreement. For the avoidance of doubt, Clause ( or Tax Deduction ) does not apply in respect of sums due from the Borrowers to the Swap Bank under or in connection with the Master Agreement as to which sums the provisions of section 2(d) ( ) of the Master Agreement shall apply.
Application to Master Agreement. For the avoidance of doubt, this Clause 7 does not apply to any amount payable under any Master Agreement in respect of any continuing Designated Transaction in respect of that Master Agreement as to which section 2(e) (Default Interest; Other Amounts) of that Master Agreement shall apply. REDUCTION, REPAYMENT AND PREPAYMENT
8.1 Amount of instalments and reductions In the case of:
(a) Tranche A, the Borrowers shall repay that Tranche by:
(i) 20 equal consecutive quarterly instalments (each an “Instalment A” and, together, the “Instalments A”), each in the amount of $2,221,055; and
(ii) a balloon instalment in the amount of $82,178,900 (the “Balloon Instalment”), Provided that if the amount of Tranche A drawn down is less than $126,600,000 each Instalment A and the Balloon Instalment will be reduced pro rata by an amount in aggregate equal to the undrawn amount; and
(b) Tranche B:
(i) such Tranche shall be reduced on each Reduction Date by the applicable Reduction Amount;
(ii) the Maximum Available Amount shall be reduced, in addition to any reduction arising pursuant to Clause 8.1(b)(i), by the amount of any prepayments required to be made under or pursuant to:
(A) Clause 5.14;
(B) Clause 8.8(c);
(C) Clause 19.2(a);
(D) Clause 23.3; and
(E) Clause 24.6;
(iii) the Maximum Available Amount shall, on the date on which a Mortgaged Ship is sold or on the applicable Total Loss Date (a “Disposal Date”), be reduced, in addition to any reduction arising pursuant to Clause 8.1(b)(i) and/or Clause 8.1(b)(ii), by an amount equal to the Maximum Available Amount which applied immediately prior to the relevant Disposal Date multiplied by a fraction whose:
(A) numerator is the Market Value of the Mortgaged Ship being sold or which has become a Total Loss on the relevant Disposal Date; and
(B) denominator is the aggregate Market Value of the Mortgaged Ships (including the Mortgaged Ship sold or lost) on the relevant Disposal Date;
(iv) such Tranche shall be repaid on each Reduction Date by the lesser of:
(A) the applicable Reduction Amount; and
(B) the amount (if any) by which Tranche B exceeds the then applicable Maximum Available Amount on that Reduction Date; and
(v) the Borrowers shall repay each Advance under Tranche B in full in the manner described in Clause 8.2(b)(iii). In this Clause 8.1:
Application to Master Agreement. For the avoidance of doubt, Clause 21 does not apply in respect of sums due from the Borrower to the Lender (acting in such capacity under its name Deutsche Bank AG) as swap bank under or in connection with the Master Agreement as to which sums the provisions of section 2(d) (Deduction or Withholding for Tax) of that Master Agreement shall apply.
Application to Master Agreement. For the avoidance of doubt, C▇▇▇▇▇ 22 does not apply in respect of sums due from the Borrowers to a Hedging Bank under or in connection with any Master Agreement as to which sums the provisions of section 2(d) (Deduction or Withholding for Tax) of that Master Agreement shall apply.