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

  • 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 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.

  • 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.

  • 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 on demand repay the Loan together with accrued interest and all other amounts accrued under the Finance Documents on the last day of the then current Interest Period for each Ship Loan or if earlier, the date specified by the Lenders in a notice delivered to the Facility Agent as being the date on which the SINOSURE Policy ceases to be in full force and effect or is terminated.

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

  • The Facility Agent shall notify the Borrowers and the other Finance Parties promptly upon receiving and being satisfied with all of the documents and evidence delivered to it under each of clauses 5.2 (Initial conditions precedent), 5.3 (Conditions precedent to a Ship Loan made in connection with Delivery), 5.4 (Conditions precedent to a Ship Loan made after a Delivery) and 5.5 (General conditions precedent).

  • 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.

  • The Facility Agent shall notify the Borrowers and the other Finance Parties promptly upon receiving and being satisfied with all of the documents and evidence delivered to it under each of clauses 4.2 (Initial conditions precedent), 4.3 (Conditions precedent to a Ship Loan made in connection with Delivery), 4.4 (General conditions precedent) and 4.5 (Conditions precedent regarding key charter).

  • Appendix 2 presents a number of possible solutions to the dividend imputation problem outlined above.

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 means a Bank Loan, whether revolving or term, that is originated after the commencement of a case under Chapter 11 of the Bankruptcy Code by a Portfolio Company, which is a debtor in possession as described in Section 1107 of the Bankruptcy Code or a debtor as defined in Section 101(13) of the Bankruptcy Code in such case (a “Debtor”) organized under the laws of the United States or any state therein and domiciled in the United States, which satisfies the following criteria: (a) the DIP Loan is duly authorized by a final order of the applicable bankruptcy court or federal district court under the provisions of subsection (b), (c) or (d) of 11 U.S.C. Section 364; (b) the Debtor’s bankruptcy case is still pending as a case under the provisions of Chapter 11 of Title 11 of the Bankruptcy Code and has not been dismissed or converted to a case under the provisions of Chapter 7 of Title 11 of the Bankruptcy Code; (c) the Debtor’s obligations under such loan have not been (i) disallowed, in whole or in part, or (ii) subordinated, in whole or in part, to the claims or interests of any other Person under the provisions of 11 U.S.C. Section 510; (d) the DIP Loan is secured and the Liens granted by the applicable bankruptcy court or federal district court in relation to the Loan have not been subordinated or junior to, or pari passu with, in whole or in part, to the Liens of any other lender under the provisions of 11 U.S.C. Section 364(d) or otherwise; (e) the Debtor is not in default on its obligations under the loan; (f) neither the Debtor nor any party in interest has filed a Chapter 11 plan with the applicable federal bankruptcy or district court that, upon confirmation, would (i) disallow or subordinate the loan, in whole or in part, (ii) subordinate, in whole or in part, any Lien granted in connection with such loan, (iii) fail to provide for the repayment, in full and in cash, of the loan upon the effective date of such plan or (iv) otherwise impair, in any manner, the claim evidenced by the loan; (g) the DIP Loan is documented in a form that is commercially reasonable; and (h) the DIP Loan shall not provide for more than 50% (or a higher percentage with the consent of the Required Lenders) of the proceeds of such loan to be used to repay prepetition obligations owing to all or some of the same lender(s) in a “roll-up” or similar transaction. For the purposes of this definition, an order is a “final order” if the applicable period for filing a motion to reconsider or notice of appeal in respect of a permanent order authorizing the Debtor to obtain credit has lapsed and no such motion or notice has been filed with the applicable bankruptcy court or federal district court or the clerk thereof.

  • 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 (i) a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election or (ii) an overdue amount which was a CD Loan immediately before it became overdue.

  • 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.

  • 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 has the meaning specified in Section 2.01(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 Term SOFR, other than pursuant to clause (c) of the definition of “Alternate Base Rate”.

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

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.