Common use of Increases in capital Clause in Contracts

Increases in capital. No Borrower shall permit an increase of its capital by way of the issuance of any class or series of Equity Interests or create any new class of Equity Interests that is not subject to a Security Interest to secure the Secured Liabilities.

Appears in 1 contract

Sources: Loan Agreement (Pangaea Logistics Solutions Ltd.)

Increases in capital. No Borrower shall permit an None of the Borrowers will increase of its capital by way of the issuance of any class or series of Equity Interests or create any new class of Equity Interests that is not subject to a Security Interest to secure the Secured Liabilities.

Appears in 1 contract

Sources: Loan Agreement (Scorpio Tankers Inc.)