Ship Loan definition

Ship Loan means in relation to each Ship the loan with HSH which currently finances such Ship and, in the plural, means all of them;
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Ship Loan means a borrowing of the Ship Commitment for a Ship or (as the context requires) the outstanding principal amount of such borrowing Ship Representations means the representations and warranties set out in clause 11.2.5 (The Ships)
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Ship Loan has the meaning given it in the Recitals.
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Examples of Ship Loan in a sentence

  • Neither any Arranger nor the Facility Agent shall have any duty or responsibility, either initially or on a continuing basis, to provide each Lender with any credit or other information with respect to any Security Party whether coming into its possession before the making of a Ship Loan or at any time or times thereafter other than as provided in clause 22.3(a) (Facility Agent’s Duties).

  • The Borrowers shall pay interest on each Ship Loan in respect of each Interest Period relating thereto on each Interest Payment Date at the percentage rate per annum which is the aggregate of (a) the Margin, and (b) LIBOR for such Interest Period.

  • Ship Loan - Total Loss: if a Mortgaged Ship becomes a Total Loss, then on the Total Loss Repayment Date for such Mortgaged Ship, the Borrowers shall prepay the amount of the relevant Ship Loan outstanding for such Mortgaged Ship together with accrued interest if any.

  • The Borrowers shall pay all stamp, documentary, registration or other like duties or taxes (including any duties or taxes payable by any Finance Party) imposed on or in connection with any of the Finance Documents, the Underlying Documents, a Ship Loan or the Loan and shall indemnify the Finance Parties or any of them against any liability arising by reason of any delay or omission by the Borrowers to pay such duties or taxes.

  • Except with approval from the Facility Agent (such approval to be given on the instructions of the Majority Lenders), (i) no Shipbuilding Contract shall be varied and (ii) the specification of the Ship shall not be changed; in either case, in a way which might reasonably be expected to delay the delivery of such Ship beyond the last day of the Availability Period for the Ship Loan for that Ship.

  • The amount of each Lender's participation in a Ship Loan will be equal to the proportion borne by its Commitment to the Ship Commitment for the Ship to which that Ship Loan relates immediately prior to making that Ship Loan.

  • Except with approval from the Facility Agent (such approval to be given on the instructions of the Majority Lenders and which shall not be unreasonably withheld by them) (i) no Shipbuilding Contract shall be varied and (ii) the specification of the Ship shall not be changed; in either case, in a way which might reasonably be expected to delay the delivery of such Ship beyond the last day of the Availability Period for the Ship Loan for that Ship.

  • The amount of each Lender’s participation in a Ship Loan will be equal to the proportion borne by its Commitment to the Ship Commitment for the Ship to which that Ship Loan relates immediately prior to making that Ship Loan.

  • Level 3 of this maturity model has its major focus on the relationship with clients and on time deliveries.

  • Without prejudice to the Borrowers’ obligations under clause 13.1.3 (Use of proceeds), no Finance Party shall have any responsibility for the application of the proceeds of a Ship Loan or any part thereof by the Borrowers.

Related to Ship Loan

  • Partnership Loan has the meaning provided in Section 5.2(c) hereof.

  • PPP Loan has the meaning set forth in Section 3.28.

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • DIP Loan Any Loan (i) with respect to which the related Obligor is a debtor-in-possession as defined under the Bankruptcy Code, (ii) which has the priority allowed pursuant to Section 364 of the Bankruptcy Code and (iii) the terms of which have been approved by a court of competent jurisdiction (the enforceability of which is not subject to any pending contested matter or proceeding).

  • Tranche B Loan has the meaning specified in Section 2.01(b).

  • Co-op Loan A Mortgage Loan secured by the pledge of stock allocated to a dwelling unit in a residential cooperative housing corporation and a collateral assignment of the related Co-op Lease.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Swingline Loan Note a promissory note in the form of Exhibit H-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • CD Loan means a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election.

  • Revolver Loan a loan made pursuant to Section 2.1, and any Swingline Loan, Overadvance Loan or Protective Advance.

  • Swing Loan Note means the Swing Loan Note of the Borrower in the form of Exhibit 1.1(N)(2) evidencing the Swing Loans, together with all amendments, extensions, renewals, replacements, refinancings or refundings thereof in whole or in part. Swing Loan Request shall mean a request for Swing Loans made in accordance with Section 2.5.2 [Swing Loan Requests] hereof.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Sub-loan means a loan made or proposed to be made by the Borrower out of the proceeds of the Loan to a Private Enterprise for an Investment Project;

  • New Revolving Loan has the meaning specified in Section 2.14(a).

  • Tranche A Advance means an Advance made by a Bank under Tranche A.

  • MOM Loan With respect to any Mortgage Loan, MERS acting as the mortgagee of such Mortgage Loan, solely as nominee for the originator of such Mortgage Loan and its successors and assigns, at the origination thereof.

  • Revolving Advance has the meaning given in Section 2.1.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Tranche B Lender means a Lender with a Tranche B Commitment or an outstanding Tranche B Loan.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Swing Loan has the meaning specified therefor in Section 2.3(b) of the Agreement.

Most Referenced Clauses

Most Referenced Definitions