Common use of Duration of normal Interest Periods Clause in Contracts

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period shall be: (a) 3 or 6 months; or (b) such other period (as proposed by the Borrower to the Agent not later than 11:00 a.m. (Hamburg time) 5 Business Days before the commencement of the Interest Period) as the Agent may, with the authorisation of the Majority Lenders, agree with the Borrower (failing which the Interest Period shall be three months).

Appears in 3 contracts

Sources: Amending and Restating Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Holdings Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of each Advance shall be: (a) 3 6 or 6 months; or (b) such other period (12 months as proposed notified by the Borrower Borrowers to the Agent not later than 11:00 11.00 a.m. (Hamburg Frankfurt time) 5 3 Business Days before the commencement of the Interest Period; or (b) 6 months, if the Borrowers fail to notify the Agent by the time specified in paragraph (a); or (c) such other period as the Agent may, with the authorisation of the Majority Lenders, Lenders may agree with the Borrower (failing which the Interest Period shall be three months)Borrowers.

Appears in 3 contracts

Sources: Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios Maritime Holdings Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of each Advance shall be: (a) 3 or 6 months; or (b) such other period (as proposed by the Borrower Borrowers to the Agent not later than 11:00 a.m. (Hamburg time) 5 Business Days before the commencement of the Interest PeriodPeriod in respect of that Advance) as the Agent may, with the authorisation of the Majority Lenders, agree with the Borrower Borrowers (failing which the Interest Period shall be three months).

Appears in 3 contracts

Sources: Loan Agreement (Navios Maritime Containers L.P.), Loan Agreement (Navios Maritime Containers Inc.), Loan Agreement (Navios Maritime Acquisition CORP)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of the Advance shall be: (a) 3 or 6 months; or (b) such other period (as proposed by the Borrower Borrowers to the Agent not later than 11:00 a.m. (Hamburg time) 5 Business Days before the commencement of the Interest PeriodPeriod in respect of the Advance) as the Agent may, with the authorisation of the Majority Lenders, agree with the Borrower Borrowers (failing which the Interest Period shall be three months).

Appears in 2 contracts

Sources: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Acquisition CORP)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4Clause 6.3, each Interest Period shall be: (a) 3 3, 6, 9 or 6 months; or (b) such other period (12 months as proposed notified by the Borrower to the Agent not later than 11:00 11.00 a.m. (Hamburg time) 5 3 Business Days before the commencement of the Interest Period; (b) 3 months, if the Borrower fails to notify the Agent by the time specified in paragraph (a) above; or (c) such other period as the Agent may, with the authorisation of the Majority Lenders' authority, agree with the Borrower (failing which the Interest Period shall be three months)Borrower.

Appears in 2 contracts

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

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of each Advance shall be: (a) 3 or 6 months; or (b) such other period (as proposed by the Borrower Borrowers to the Agent not later than 11:00 a.m. (Hamburg time) 5 Business Days before the commencement of the Interest PeriodPeriod in respect of that Advance) as the Agent may, with the authorisation of the Majority Lenders, agree with the Borrower Borrowers (failing which the Interest Period shall be three months).

Appears in 2 contracts

Sources: Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Castor Maritime Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Each Interest Period shall be: (a) 3 3, 6, 9 or 6 months; or (b) such other period (12 months as proposed notified by the Borrower to the Agent not later than 11:00 11.00 a.m. (Hamburg time) 5 3 Business Days before the commencement of the Interest Period; or; (b) 3 months, if the Borrower fails to notify the Agent by the time specified in paragraph (a) above; or (c) such other period as the Agent may, with the authorisation of the Majority Lenders' authority, agree with the Borrower (failing which the Interest Period shall be three months)Borrower.

Appears in 2 contracts

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

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of each Tranche shall be: (a) 3 or 6 months; or (b) such other period (months as proposed notified by the Borrower Borrowers to the Agent not later than 11:00 11.00 a.m. (Hamburg time) 5 2 Business Days before the commencement of the Interest PeriodPeriod in respect of that Tranche; (b) 3 months, if the Borrowers fail to notify the Agent by the time specified in paragraph (a); or (c) such other period as the Agent may, with the authorisation of the Majority Lenders, agree with the Borrower (failing which the Interest Period shall be three months)Borrowers subject to market availability.

Appears in 1 contract

Sources: Loan Agreement (Paragon Shipping Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4Clause 6.3, each Interest Period in respect of the Loan shall be: (a) 3 3, 6 or 6 months; or (b) such other period (12 months as proposed notified by the Borrower to the Agent not later than 11:00 11.00 a.m. (Hamburg time) 5 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Agent by the time specified in paragraph (a) above; or (c) such other period as the Agent may, with the authorisation of the Majority Lenders' authority, agree with the Borrower (failing which the Interest Period shall be three months)Borrower.

Appears in 1 contract

Sources: Loan Agreement (Paragon Shipping Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of a Tranche shall be: (a) 3 or 6 months; or (b) such other period (months as proposed notified by the Borrower Borrowers to the Agent not later than 11:00 11.00 a.m. (Hamburg time) 5 3 Business Days before the commencement of the that Interest Period; (b) 3 months, if the Borrowers fail to notify the Agent by the time specified in paragraph (a); or (c) such other period as the Agent may, with the authorisation of the Majority Lenders, agree with the Borrower (failing which the Interest Period shall be three months)Borrowers.

Appears in 1 contract

Sources: Loan Agreement (Navios Maritime Acquisition CORP)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of the Advance shall be: (a) 3 or 6 months; or (b) such other period (as proposed by the Borrower Borrowers to the Agent not later than 11:00 a.m. (Hamburg time) 5 Business Days before the commencement of the Interest PeriodPeriod in respect of the Advance) as the Agent may, with the authorisation of the Majority Lenders, agree with the Borrower Borrowers (failing which the Interest Period shall be three months).

Appears in 1 contract

Sources: Loan Agreement (Navios Maritime Partners L.P.)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4Clauses6.3 and6.4, each Interest Period in respect of each Tranche shall be: (a) 3 3, 6 or 6 months; or (b) such other period (12 months as proposed notified by the Borrower Borrowers to the Agent not later than 11:00 11.00 a.m. (Hamburg time) 5 3 Business Days before the commencement of the Interest PeriodPeriod in respect of that Tranche; (b) 3 months, if the Borrowers fail to notify the Agent by the time specified in paragraph (a); or (c) such other period as the Agent may, with the authorisation of the Majority Lenders, agree with the Borrower (failing which the Interest Period shall be three months)Borrowers.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of each Tranche shall be: (a) 3 3, 6 or 6 months; or (b) such other period (12 months as proposed notified by the Borrower Borrowers to the Agent not later than 11:00 11.00 a.m. (Hamburg time) 5 3 Business Days before the commencement of the Interest PeriodPeriod in respect of that Tranche; (b) 3 months, if the Borrowers fail to notify the Agent by the time specified in paragraph (a); or (c) such other period as the Agent may, with the authorisation of the Majority Lenders▇▇▇▇▇▇▇, agree with the Borrower (failing which the Interest Period shall be three months)Borrowers.

Appears in 1 contract

Sources: Loan Agreement (Star Bulk Management Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of each Tranche shall be: (a) 3 3, 6 or 6 months; or (b) such other period (12 months as proposed notified by the Borrower Borrowers to the Agent not later than 11:00 11.00 a.m. (Hamburg time) 5 3 Business Days before the commencement of the Interest PeriodPeriod in respect of that Tranche; (b) 3 months, if the Borrowers fail to notify the Agent by the time specified in paragraph (a); or (c) such other period as the Agent may, with the authorisation of the Majority Lenders, agree with the Borrower (failing which the Interest Period shall be three months)Borrowers subject to market availability.

Appears in 1 contract

Sources: Loan Agreement (Pyxis Tankers Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 6,3 and 6.4, each Interest Period shall be: (a) 3 1, 3, 6 or 6 months; or (b) such other period (12 months as proposed notified by the Borrower to the Agent not later than 11:00 11.00 a.m. (Hamburg time) 5 2 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Agent by the time specified in paragraph (a); or (c) such other period as the Agent may, with the authorisation of all the Majority Lenders, agree with the Borrower (failing which the Interest Period shall be three months)Borrower.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period in respect of each Advance shall be: (a) 3 or 6 months; or (b) such other period (as proposed notified by the Borrower Borrowers to the Agent not later than 11:00 a.m. (Hamburg time) 5 2 Business Days before the commencement of the Interest PeriodPeriod in respect of that Advance) as the Agent may, with the authorisation of the Majority Lenders, agree with the Borrower (failing which the Interest Period shall be three months)Borrowers subject to availability of LIBOR.

Appears in 1 contract

Sources: Loan Agreement (Seanergy Maritime Holdings Corp.)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period shall be: (a) 3 3, 6 or 6 months; or (b) such other period (9 months as proposed notified by the Borrower Borrowers to the Agent not later than 11:00 11.00 a.m. (Hamburg Paris time) 5 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrowers fail to notify the Agent by the time specified in paragraph (a) above; or (c) such other period as the Agent may, with the authorisation of the Majority Lenders, may agree with the Borrower (failing which the Interest Period shall be three months)Borrowers.

Appears in 1 contract

Sources: Loan Agreement (Navios Maritime Partners L.P.)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period shall be: (a) 1 or 3 or 6 months; or (b) such other period (months as proposed notified by the Borrower Borrowers to the Agent not later than 11:00 11.00 a.m. (Hamburg Oslo time) 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 Borrowers fail to notify the Agent by the time specified in paragraph (a); or (c) such other period as the Agent may, with the authorisation of the Majority Lenders, agree with the Borrower (failing which the Interest Period shall be three months)Borrowers.

Appears in 1 contract

Sources: Loan Agreement (Diana Shipping Inc.)

Duration of normal Interest Periods. Subject to Clauses 6.3 and 6.4, each Interest Period shall be: (a) 3 3, 6 or 6 months; or (b) such other period (9 months as proposed notified by the Borrower to the Agent not later than 11:00 11.00 a.m. (Hamburg Paris time) 5 3 Business Days before the commencement of the Interest Period; or (b) 3 months, if the Borrower fails to notify the Agent by the time specified in paragraph (a) above; or (c) such other period as the Agent may, with the authorisation of the Majority Lenders, may agree with the Borrower (failing which the Interest Period shall be three months)Borrower.

Appears in 1 contract

Sources: Loan Agreement (Navios Maritime Containers Inc.)