Common use of Negotiation of alternative rate of interest Clause in Contracts

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 4 contracts

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

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan an Advance is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan relevant Advance or Advances during the Interest Period concerned.

Appears in 4 contracts

Sources: Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan an Advance is made, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 3 contracts

Sources: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Quintana Shipping Ltd.), Loan Agreement (TBS International LTD)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan first Advance is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 2 contracts

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

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan is madeadvanced, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 2 contracts

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

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan an Advance is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 2 contracts

Sources: Loan Agreement (Omega Navigation Enterprises, Inc.), Loan Agreement (DryShips Inc.)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after the Loan Advance is made, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the Negotiation Period), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan Advance during the Interest Period concerned.

Appears in 2 contracts

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

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan is madeadvanced, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 2 contracts

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

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served on the Borrower after the Loan is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 2 contracts

Sources: Loan Agreement (Tsakos Energy Navigation LTD), Loan Agreement (Tsakos Energy Navigation LTD)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after the Loan an Advance is made, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the Negotiation Period), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan such Advance during the Interest Period concerned.

Appears in 2 contracts

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

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 4.5 is served after the Loan an Advance is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 4.5 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 2 contracts

Sources: Loan Agreement (Arlington Tankers Ltd.), Loan Agreement (General Maritime Corp / MI)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after a Tranche or, as the Loan case may be, Advance is madedrawndown, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 15 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund that Tranche or, as the Loan case may be, Advance during the Interest Period concerned.

Appears in 2 contracts

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

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan a Tranche is madeadvanced, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan (or any part of it) during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (Scorpio Bulkers Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 5.4 is served after the Loan is madehas been advanced, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 5.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (Tsakos Energy Navigation LTD)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after the Loan an Advance is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Lender serves its notice under Clause 4.4 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (Paragon Shipping Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan (or any part thereof) is madeadvanced, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or .or continue to fund the Loan during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (Pyxis Tankers Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (Box Ships Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan is madedrawndown, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 15 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after the Loan is mademade available, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (Diana Shipping Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 4,4 is served after the Loan an Advance is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (Star Bulk Carriers Corp.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 4.5 is served after an Advance or the Loan is mademade available, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 4.5 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Advance or the Loan during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (Omega Navigation Enterprises, Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan is madeborrowed, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (Quintana Shipping Ltd.)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after the Loan is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Lender serves its notice under Clause 4.4 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (Paragon Shipping Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan an Advance is made, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 15 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan relevant Advance or Advances during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after the Loan an Advance is made, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan that Advance during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (EuroDry Ltd.)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after the Loan a Tranche is madeadvanced, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (Diana Shipping Inc.)

Negotiation of alternative rate of interest. If the Lender’s 's notice under Clause 4.4 is served after the Loan a Tranche is made, the Borrower and the Lender shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Lender serves its notice under Clause 4.4 (the "Negotiation Period"), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan relevant Tranche during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (Box Ships Inc.)

Negotiation of alternative rate of interest. If the Lender’s notice under Clause 4.4 is served after the Loan an Advance is made, the Borrower Borrowers and the Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Lender serves its notice under Clause 4.4 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lender to fund or continue to fund the Loan Advance during the Interest Period concerned.

Appears in 1 contract

Sources: Loan Agreement (Mc Shipping Inc)