Disbursement of Advance to third party. The payment by the Lender under Clause 3.4 to the Builder shall constitute the making of the Advance and the Borrower shall thereupon become indebted, as principal and direct obligor, to the Lender in an amount equal to that Advance.
Appears in 3 contracts
Sources: Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp)
Disbursement of Advance to third party. The payment by the Lender Agent under Clause 3.4 4.5 to the Builder shall constitute the making of the Advance and the Borrower shall thereupon become indebted, as principal and direct obligor, to the each Lender in an amount equal to that AdvanceLender’s Contribution.
Appears in 2 contracts
Sources: Amending and Restating Agreement (GasLog Partners LP), Amending and Restating Agreement
Disbursement of Advance to third party. The payment by the Lender Agent under Clause 3.4 4.7 to the Builder shall constitute the making of the Advance and the Borrower shall thereupon become indebted, as principal and direct obligor, to the each Lender in an amount equal to that AdvanceLender’s Contribution.
Appears in 2 contracts
Sources: Loan Agreement, Loan Agreement (Capital Product Partners L.P.)
Disbursement of Advance to third party. The payment by the Lender under Clause 3.4 to the Builder shall constitute the making of the an Advance and the Borrower shall thereupon at that time become indebted, as principal and direct obligor, to the Lender in an amount equal to that Advance.
Appears in 2 contracts
Sources: Loan Agreement (Star Bulk Carriers Corp.), Loan Agreement (Omega Navigation Enterprises, Inc.)
Disbursement of Advance to third party. The payment by the Lender Agent under Clause 3.4 4.6 to the Builder shall constitute the making of the Advance and the Borrower shall thereupon at that time become indebted, as principal and direct obligor, to the each Lender in an amount equal to that AdvanceLender’s Contribution.
Appears in 2 contracts
Sources: Loan Agreement (Euronav NV), Loan Agreement (Euronav NV)
Disbursement of Advance to third party. The payment by the Lender under Clause 3.4 to the Builder shall constitute the making of the Advance and all the Borrower Borrowers shall thereupon at that time become indebted, as principal and direct obligorobligors, to the Lender in an amount equal to that Advance.
Appears in 2 contracts
Sources: Loan Agreement (B Plus H Ocean Carriers LTD), Loan Agreement (B Plus H Ocean Carriers LTD)
Disbursement of Advance to third party. The payment by the Lender Agent under Clause 3.4 4.7 to the Builder shall constitute the making of the Advance and the Borrower shall thereupon become indebted, as principal and direct obligor, to the Lender Lenders in an amount equal to that Advance.
Appears in 2 contracts
Sources: Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp)
Disbursement of Advance to third party. The payment by the Lender under Clause 3.4 to the Builder Seller shall constitute the making of the Advance Loan and the Borrower shall thereupon at that time become indebted, as principal and direct obligor, to the Lender in an amount equal to that Advancethe Loan.
Appears in 1 contract
Sources: Loan Agreement (Pyxis Tankers Inc.)
Disbursement of Advance to third party. The payment of an Advance by the Lender under Clause 3.4 to the Builder shall constitute the making of the Advance and the Borrower shall thereupon at that time become indebted, as principal and direct obligor, to the Lender in an amount equal to that Advance.
Appears in 1 contract
Sources: Loan Agreement (DryShips Inc.)
Disbursement of Advance to third party. The payment by the Lender Agent under Clause 3.4 4.6 to the Builder shall constitute the making of the Advance and the Borrower Borrowers shall thereupon become indebted, as principal and direct obligor, to the each Lender in an amount equal to that AdvanceLender’s Contribution.
Appears in 1 contract
Sources: Loan Agreement (GasLog Ltd.)
Disbursement of Advance to third party. The payment by the Lender under Clause 3.4 to the Builder shall constitute the making of the Advance and the Borrower Borrowers shall thereupon become indebted, as principal and direct obligor, to the Lender in an amount equal to that Advance.
Appears in 1 contract
Sources: Loan Agreement (Omega Navigation Enterprises, Inc.)
Disbursement of Advance to third party. The payment by the Lender under Clause 3.4 to the Builder shall constitute the making of the Advance Tranche and the Borrower Borrowers shall thereupon at that time become indebted, as principal and direct obligor, to the Lender in an amount equal to that AdvanceTranche.
Appears in 1 contract
Sources: Loan Agreement (Pyxis Tankers Inc.)
Disbursement of Advance to third party. The payment by the each Lender under Clause 3.4 to the Builder 4.5 shall constitute the making of the an Advance and the Borrower Borrowers shall thereupon at that time become indebted, as principal and direct obligorobligors, to the each Lender in an amount equal to that AdvanceLender’s Contribution.
Appears in 1 contract
Disbursement of Advance to third party. The payment of an Advance by the Lender under Clause 3.4 to the Builder relevant Seller shall constitute the making of the that Advance and the Borrower Borrowers shall thereupon at that time become indebted, as principal and direct obligor, to the Lender in an amount equal to that Advance.
Appears in 1 contract
Sources: Loan Agreement (DryShips Inc.)
Disbursement of Advance to third party. The payment by the Lender under Clause 3.4 to the Builder Seller shall constitute the making of the Advance and the Borrower shall thereupon become indebted, as principal and direct obligor, to the Lender in an amount equal to that Advance.
Appears in 1 contract
Disbursement of Advance to third party. The payment by the Lender under Clause 3.4 to the Builder shall constitute the making of the Advance and the Borrower Borrowers shall thereupon at that time become indebted, as principal and direct obligorobligors, to the Lender in an amount equal to that Advance.
Appears in 1 contract
Disbursement of Advance to third party. The payment by the Lender under Clause 3.4 to the Builder relevant Seller shall constitute the making of the Advance and the Borrower shall thereupon become indebted, as principal and direct obligor, to the Lender in an amount equal to that Advance.
Appears in 1 contract
Sources: Loan Agreement (StealthGas Inc.)