Certain Circumstances. Notwithstanding anything to the contrary in this Agreement: (a) in the event of any circumstances falling within Clause 6.5 which might affect the advance of the Loan on the Drawdown Date (the “Relevant Circumstances”): (i) occurring and being continuing on the date falling ninety (90) days before the Intended Delivery Date (the “Relevant Date”), each Lender will notify the Borrower (through the Agent) of the Relevant Circumstances on the Relevant Date or, if the Relevant Date is not a Business Day, on the next following Business Day; and (ii) occurring after the Relevant Date, each Lender will notify the Borrower (through the Agent) immediately each Lender become aware of the Relevant Circumstances; (b) in the event of any Relevant Circumstances falling within Clauses 6.5(a) or (b) (the “Pricing-Related Relevant Circumstances”) occurring before the Loan is made available and notwithstanding the provisions of Clause 6.7, each Lender will fund its respective Contributions by reference to the agreed alternative rate of interest in accordance with Clauses 6.8, 6.9 and 6.10 as if the provisions of such Clauses applied not only in the event that the Pricing-Related Relevant Circumstances have been notified by the Agent to the Borrower after the making of the Loan but also before the making of the Loan. (c) in the event of any Relevant Circumstances falling within 6.5(c) (the “Availability-Related Relevant Circumstances”) occurring before the Loan is made and notwithstanding the provisions of Clause 6.7 of the Loan Agreement, each Lender will enter into good faith discussions with the Borrower for a period not exceeding 10 Business Days in order to discuss a basis on which the Lenders could be able to fund their respective Contributions in Dollars (or, if unavailable in Dollars, then in any available currency). Such discussions shall be without obligation on the Lenders provided that during such discussion period, such circumstances continue.
Appears in 2 contracts
Sources: Loan Agreement (Prestige Cruises International, Inc.), Loan Agreement (Seven Seas Cruises S. DE R.L.)