Common use of Duration of normal Interest Periods Clause in Contracts

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

Appears in 3 contracts

Sources: Loan Agreement (Euroseas Ltd.), Loan Agreement (Euroseas Ltd.), Loan Agreement (Euroseas Ltd.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period in respect of the Loan shall be: (a) 1, 3, 6 or 12 9 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Piraeus time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

Appears in 2 contracts

Sources: Loan Agreement (Star Cosmo Llc.), Loan Agreement (Star Bulk Carriers Corp.)

Duration of normal Interest Periods. Subject to Clauses 5.3 5.3, 5.4 and 5.45.5, each Interest Period shall be: (a) 3, 3 or 6 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest PeriodPeriod (although the Borrowers acknowledge that a 1 month Interest Period shall only be available a maximum of 3 times in any calendar year); or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 2 contracts

Sources: Loan Agreement (B Plus H Ocean Carriers LTD), Loan Agreement (B Plus H Ocean Carriers LTD)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 3, 6 1 or 12 3 months as notified by the Borrower Borrowers to the Lender Agent not later than 11.00 a.m. (London time) 3 5 Business Days (or such longer period as the Agent and the Borrowers may agree) before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender Agent by the time specified in paragraph (a) above); or (c) such other period as the Lender may Agent may, with the authorisation of the Majority Lenders, agree with the BorrowerBorrowers.

Appears in 2 contracts

Sources: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 1, 3, 6 6, 9 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Basel time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

Appears in 2 contracts

Sources: Loan Agreement (Box Ships Inc.), Loan Agreement (Box Ships Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 1, 3, 6 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Athens time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

Appears in 2 contracts

Sources: Loan Agreement, Loan Agreement (Capital Product Partners L.P.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 or 12 9 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Athens time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the Borrower.

Appears in 2 contracts

Sources: Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (NewLead Holdings Ltd.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 1, 3, 6 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 2 contracts

Sources: Amending and Restating Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period (other than the first Interest Period to which Clause 6.1 shall apply) shall be: (a) 31, 2, 3 or 6 or 12 months as notified by the Borrower to the Lender Agent not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender Agent by the time specified in paragraph (a) above); or (c) such other period as the Lender may Agent may, with the authorisation of all the Lenders, agree with the Borrower.

Appears in 2 contracts

Sources: Loan Agreement (GasLog Partners LP), Loan Agreement

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 1, 3, 6 or 12 9 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. am. (London Athens time) 3 2 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period in respect of each Advance shall be: (a) 3, 6 6, 9 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Basel time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Paragon Shipping Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 6, 9 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Swiss time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.,

Appears in 1 contract

Sources: Loan Agreement (Tsakos Energy Navigation LTD)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 1, 2, 3, 6 6, 9 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above); or (c) such other longer period as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (StealthGas Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 31, 3 or 6 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 1 contract

Sources: Loan Agreement (Diana Shipping Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 3, 3 or 6 or 12 months as notified by the Borrower to the Lender Agent not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 monthsin the case of the first Interest Period applicable to the second and any subsequent Advance, if a period ending on the Borrower fails last day of the Interest Period applicable to notify the Lender by first Advance then current, whereupon all of the time specified in paragraph (a) above; or (c) such other period Advances shall be consolidated and treated as the Lender may agree with the Borrower.a single Advance;

Appears in 1 contract

Sources: Loan Agreement (Euronav NV)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 6, 9 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 2 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 1 contract

Sources: Loan Agreement (Oceanfreight Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 4.3 and 5.44.4, each Interest Period shall be: (a) 3, 6 or 12 9 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Athens time) 3 2 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 3, 6 6, or 12 9 months as notified by the Borrower Borrowers to the Lender Agent not later than 11.00 a.m. am (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender Agent by the time specified in paragraph (a) above); or (c) such other period as the Lender may Agent may, with the Majority Lenders' authority, agree with the BorrowerBorrowers.

Appears in 1 contract

Sources: Loan Agreement (Euroseas Ltd.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 3, 6 6, 9 or 12 months as notified by the Borrower Borrowers to the Lender Agent not later than 11.00 a.m. (London Rotterdam time) 3 2 Business Days before the commencement of the Interest Period; or (b) 3 monthsin the case of the first Interest Period applicable to the second and each subsequent Tranche, if a period ending on the Borrower fails last day of the Interest Period applicable to notify the Lender by the time specified in paragraph (a) above; or (c) such other period first Tranche then current, whereupon all Tranches shall be consolidated and treated as the Lender may agree with the Borrower.Loan;

Appears in 1 contract

Sources: Amending and Restating Agreement (Poseidon Containers Holdings Corp.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 1, 2, 3, or 6 or 12 months as notified by the Borrower to the Lender Agent not later than 11.00 11:00 a.m. (London New York time) 3 three (3) Business Days before the commencement of the Interest Period; or; (b) 3 monthsin the case of the first Interest Period applicable to each Advance other than the first Advance, if a period ending on the Borrower fails last day of the Interest Period applicable to notify the Lender by the time specified in paragraph (a) above; or (c) such other period prior Advances then outstanding, whereupon all Advances shall be consolidated and treated as the Lender may agree with the Borrower.a single Advance;

Appears in 1 contract

Sources: Loan Agreement (Scorpio Tankers Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 or 12 months 3 months; or (b) such other period as the Lender may agree with the Borrower and notified by the Borrower to the Lender not later than 11.00 a.m. am (London Copenhagen time) 3 2 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Diana Shipping Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period in respect of each Tranche shall be: (a) 3, 6 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Basel time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Box Ships Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 3, 3 or 6 or 12 months as notified by the Borrower to the Lender Agent not later than 11.00 10:00 a.m. (London New York time) 3 three (3) Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender Agent by the time specified in paragraph (a) above); or (c) with respect to the Tranche A Loan, such other period as the Lender may Agent may, with the authorization of all the Lenders, agree with the BorrowerBorrower pursuant to Clause 6.5.

Appears in 1 contract

Sources: Loan Agreement (Pangaea Logistics Solutions Ltd.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 31, 2, 3 or 6 or 12 months as notified by the Borrower to the Lender Agent not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender Agent by the time specified in paragraph (a) above); or (c) such other period as the Lender may Agent may, with the authorisation of all the Lenders, agree with the Borrower.

Appears in 1 contract

Sources: Amending and Restating Agreement (GasLog Partners LP)

Duration of normal Interest Periods. Subject to Clauses 5.3 5.3, 5.4 and 5.4, 5.5 each Interest Period shall be: (a) 1, 2, 3, 6 6, 9 or 12 months as notified by the Borrower to the Lender (or such other period as may be notified by the Borrower to the Lender, and agreed to by the Lender) not later than 11.00 a.m. (London time) 3 2 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) aboveClause 5.2(a); or (c) such other period as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Knightsbridge Tankers LTD)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 6, 9 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Basel time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Paragon Shipping Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 3, 6 or 12 9 months as notified by the Borrower to the Lender Agent not later than 11.00 a.m. (London Singapore time) 3 5 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender Agent by the time specified in paragraph (a) above); or (c) such other period as the Lender may Agent may, with the authorisation of the Majority Lenders, agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (B Plus H Ocean Carriers LTD)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 1, 2, 3, 6 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 2 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as requested by the Borrowers and accepted by the Lender may agree with the Borrowerin its sole discretion which is less than 12 months.

Appears in 1 contract

Sources: Loan Agreement (EuroDry Ltd.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 6, 9 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 1 contract

Sources: Loan Agreement (Mc Shipping Inc)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, Clause 6.3 each Interest Period shall be: (a) 31, (but subject to a maximum of 3 such 1 month Interest Periods in each year) 2, 3 or 6 or 12 months as notified by the Borrower to the Lender Agent not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the that Interest Period; or (b) 3 months, months if the Borrower fails to notify the Lender Agent by the time specified in paragraph (a) above); or (c) such other longer period as the Lender may Agent may, with the authorisation of the Lenders, agree with the Borrower.

Appears in 1 contract

Sources: Loan and Guarantee Facility Agreement (DryShips Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 1, 3, 6 or 12 months as notified by the Borrower to the Lender Agent not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender Agent by the time specified in paragraph (a) above); or (c) such other period as the Lender may Agent may, with the authorisation of all the Lenders, agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.2, 5.3 and 5.4, each Interest Period shall be: (a) 33 or 6 months, 6 or 12 months as notified by the Borrower to the Lender Facility Agent not later than 11.00 11:00 a.m. (London New York time) 3 three (3) Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender Facility Agent by the time specified in paragraph (a) above; or (c) such other period as the Lender Majority Lenders may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Ultrapetrol Bahamas LTD)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period in respect of the Loan shall be: (a) 3, 6 or 12 9 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Piraeus time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Amending and Restating Agreement (Star Bulk Carriers Corp.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 33 months; or (b) such other period as the Agent may, 6 or 12 months with the authorisation of the Majority Lenders, agree with the Borrower as notified by the Borrower to the Lender Agent not later than 11.00 10.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above; or (c) such other period as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Diana Shipping Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 3 or 6 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London time) 3 5 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (TBS International LTD)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, or 6 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Quintana Shipping Ltd.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 6, 9 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 5 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 1 contract

Sources: Loan Agreement (TBS International LTD)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 3, 3 or 6 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above); or (c) such other period requested by the Borrower as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Tsakos Energy Navigation LTD)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, Clause 6.3 each Interest Period shall be: (a) 31 (but subject to a maximum of 2 such 1 month Interest Periods in each year), 3 or 6 or 12 months as notified by the Borrower to the Lender Agent not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the that Interest Period; or (b) 3 months, months if the Borrower fails to notify the Lender Agent by the time specified in paragraph (a) above); or (c) such other longer period as the Lender may Agent may, with the authorisation of the Lenders, agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 1, 3, 6 or 12 9 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London Athens time) 3 2 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 1 contract

Sources: Amending and Restating Agreement (DryShips Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 6, 9 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Athens time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Box Ships Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 1, 3, or 6 or 12 months as notified by the Borrower to the Lender Agent not later than 11.00 11:00 a.m. (London New York City time) 3 three (3) Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Lender Agent by the time specified in paragraph (a) above); or (c) such other period as the Lender may Agent may, with the written consent of all the Lenders, agree with the Borrower.

Appears in 1 contract

Sources: Second Lien Loan Agreement (Eagle Bulk Shipping Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 3, 3 or 6 or 12 months as notified by the Borrower to the Lender Agent not later than 11.00 a.m. am (London time) 3 Business Days before the commencement of the initial Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender Agent by the time specified in paragraph (a) above); or (c) such other period as the Lender may Agent may, with the Majority Lenders' authority, agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (EuroDry Ltd.)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 3, 6 6, 9 or 12 months as notified by the Borrower to the Lender Agent not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 monthsin the case of the first Interest Period applicable to the second and any subsequent Advance, if a period ending on the Borrower fails last day of the Interest Period applicable to notify the Lender by first Advance then current, whereupon all of the time specified in paragraph (a) above; or (c) such other period Advances shall be consolidated and treated as the Lender may agree with the Borrower.a single Advance;

Appears in 1 contract

Sources: Loan Agreement (Euronav NV)

Duration of normal Interest Periods. Subject to Clauses 5.3 6.3 and 5.46.4, each Interest Period shall be: (a) 31, 2, 3 or 6 or 12 months as notified by the Borrower Borrowers to the Lender Agent not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender Agent by the time specified in paragraph (a) above); or (c) such other period as the Lender may Agent may, with the authorisation of all the Lenders, agree with the BorrowerBorrowers.

Appears in 1 contract

Sources: Loan Agreement (GasLog Ltd.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 or 12 months as notified by the Borrower Borrowers to the Lender not later than 11.00 a.m. (London time) 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails Borrowers fail to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the BorrowerBorrowers.

Appears in 1 contract

Sources: Loan Agreement (Scorpio Bulkers Inc.)

Duration of normal Interest Periods. Subject to Clauses 5.3 and 5.4, each Interest Period shall be: (a) 3, 6 6, 9 or 12 months as notified by the Borrower to the Lender not later than 11.00 a.m. (London Hamburg time) 3 2 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Lender by the time specified in paragraph (a) above); or (c) such other period as the Lender may agree with the Borrower.

Appears in 1 contract

Sources: Loan Agreement (Pyxis Tankers Inc.)