Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 is served after a Tranche has been advanced, the Borrower, the Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 3 contracts
Sources: Loan Facility Agreement (Star Bulk Carriers Corp.), Loan Facility Agreement (Star Bulk Carriers Corp.), Loan Agreement (Star Bulk Carriers Corp.)
Negotiation of alternative rate of interest. If the Agent’s 's notice under Clause 5.6 5.8 is served after a Tranche has been is advanced, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “"Negotiation Period”"), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 3 contracts
Sources: Loan Agreement (Star Bulk Carriers Corp.), Loan Agreement (DryShips Inc.), Loan Agreement (Star Bulk Management Inc.)
Negotiation of alternative rate of interest. If the Agent’s 's notice under Clause 5.6 5.8 is served after a Tranche has been advancedis made, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Counterparties shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “"Negotiation Period”"), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 2 contracts
Sources: Loan Agreement (Scorpio Bulkers Inc.), Loan Agreement (Scorpio Tankers Inc.)
Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 5.8 is served after a Tranche has been advancedis made, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 2 contracts
Sources: Loan Agreement (Global Ship Lease, Inc.), Amending and Restating Agreement (Poseidon Containers Holdings Corp.)
Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 5.8 is served after a the Tranche has been advancedis made, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 2 contracts
Sources: Amending and Restating Deed, Amending and Restating Deed (Global Ship Lease, Inc.)
Negotiation of alternative rate of interest. If the Agent’s 's notice under Clause 5.6 5.8 is served after a Tranche has been advancedis made, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the relevantSwap Bank shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “"Negotiation Period”"), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 2 contracts
Sources: Amending and Restating Agreement (Box Ships Inc.), Amending and Restating Agreement (Box Ships Inc.)
Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 5.8 is served after a Tranche has been advancedis made, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 1 contract
Sources: Loan Agreement (Box Ships Inc.)
Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 is served after a Tranche has been is advanced, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 1 contract
Sources: Loan Agreement (Pyxis Tankers Inc.)
Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 5.8 is served after a Tranche has been advancedis made, the Borrower, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Counterparties shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 1 contract
Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 5.8 is served after a Tranche has been is advanced, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 1 contract
Negotiation of alternative rate of interest. If the Agent’s 's notice under Clause 5.6 5.8 is served after a Tranche has been is advanced, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “"Negotiation Period”"), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 1 contract
Negotiation of alternative rate of interest. If the Agent’s 's notice under Clause 5.6 5.8 is served after a Tranche has been advancedis made available, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “"Negotiation Period”"), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 1 contract
Negotiation of alternative rate of interest. If the Agent’s 's notice under Clause 5.6 5.8 is served after a Tranche has been advancedis made, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within the 30 days 25 Business Days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “"Negotiation Period”"), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 1 contract
Sources: Loan Agreement (Box Ships Inc.)
Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 5.8 is served after a the Tranche has been advancedis made, the BorrowerBorrowers, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Bank shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 5.8 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 1 contract
Sources: Second Amending and Restating Deed (Global Ship Lease, Inc.)
Negotiation of alternative rate of interest. If the Facility Agent’s notice under Clause 5.6 5.7 is served after a an Advance or Tranche has been advancedis made, the BorrowerBorrowers, the Facility Agent and the Lenders or (as the case may be) the Affected Lender shall use reasonable endeavours to agree, within the 30 days after the date on which the Facility Agent serves its notice under Clause 5.6 5.7 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche Advance, Tranche, Advances or Tranches during the Interest Period concerned.
Appears in 1 contract
Negotiation of alternative rate of interest. If the Agent’s notice under Clause 5.6 is served after a Tranche has been advancedserved, the Borrower, the Agent and Agent, the Lenders or (as the case may be) the Affected Lender and the Swap Counterparties shall use reasonable endeavours to agree, within the 30 days after the date on which the Agent serves its notice under Clause 5.6 (the “Negotiation Period”), an alternative interest rate or (as the case may be) an alternative basis for the Lenders or (as the case may be) the Affected Lender to fund or continue to fund their or its Contribution to the relevant Tranche or Tranches during the Interest Period concerned.
Appears in 1 contract
Sources: Loan Agreement (Seacastle Inc.)