Common use of Notification of interest periods and default rates Clause in Contracts

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower of each interest rate determined by it under Clause 6.3 and of each period selected by it for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s notification.

Appears in 13 contracts

Sources: Loan Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Quintana Shipping Ltd.), Loan Agreement (Box Ships Inc.)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower Borrowers of each interest rate determined by it under Clause 6.3 and of each period selected by it for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Lender’s 's notification.

Appears in 11 contracts

Sources: Loan Agreement (Diana Shipping Inc.), Loan Agreement (B Plus H Ocean Carriers LTD), Loan Agreement (B Plus H Ocean Carriers LTD)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower of each interest rate determined by it the Lender under Clause 6.3 and of each period selected by it the Lender for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s notification.

Appears in 8 contracts

Sources: Loan Agreement, Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (NewLead Holdings Ltd.)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower Borrowers of each interest rate determined by it under Clause 6.3 and of each period selected by it for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Lender’s notification.

Appears in 7 contracts

Sources: Loan Agreement (Scorpio Bulkers Inc.), Loan Agreement (Quintana Shipping Ltd.), Amending and Restating Agreement (DryShips Inc.)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower of each interest rate determined by it under Clause 6.3 6.2 and of each period selected by it for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s 's notification.

Appears in 4 contracts

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

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower of each interest rate determined by it under Clause 6.3 and of each period selected by it for the purposes of paragraph (b) of that ClauseClause 6(3)(b); but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s notification.

Appears in 1 contract

Sources: Loan Agreement (Knightsbridge Tankers LTD)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower of each interest rate determined by it the Lender under Clause 6.3 7.3 (Calculation of default rate of interest) and of each period Interest Period selected by it the Lender for the purposes of paragraph 7.3(b) (bCalculation of default rate of interest) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s 's notification.

Appears in 1 contract

Sources: Loan Agreement (Castor Maritime Inc.)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower of each interest rate determined by it under Clause 6.3 and of each period selected by it for the purposes of paragraph (b) of that Clause7.2; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s notification.

Appears in 1 contract

Sources: Loan Agreement (Tsakos Energy Navigation LTD)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower of each interest rate determined by it under Clause 6.3 5,3 and of each period selected by it for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s notification.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower Borrowers of each interest rate determined by it under Clause 6.3 6.1 and of each period selected by it for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s notificationit.

Appears in 1 contract

Sources: Loan Agreement (EuroDry Ltd.)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower of each interest rate determined by it under Clause 6.3 9.3 and of each period selected by it for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s notification.

Appears in 1 contract

Sources: Amendment Agreement (Aegean Marine Petroleum Network Inc.)

Notification of interest periods and default rates. The Lender shall promptly notify notify’ the Borrower Borrowers of each interest rate determined by it under Clause 6.3 and of each period selected by it for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Lender’s notification.

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower of each interest rate determined by it under Clause 6.3 7.3 and of each period selected by it for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s notification.

Appears in 1 contract

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower Borrowers of each interest rate determined by it the Lender under Clause 6.3 and of each period selected by it the Lender for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Lender’s 's notification.

Appears in 1 contract

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

Notification of interest periods and default rates. The Lender lender shall promptly notify the Borrower of each interest rate determined by it the Lender under Clause 6.3 and of each period selected by it for the purposes of paragraph (b6.3(b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s notification.

Appears in 1 contract

Sources: Loan Agreement (Product Shipping Ltd.)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower of each interest rate determined by it the Lender under Clause 6.3 7.3 (Calculation of default rate of interest) and of each period Interest Period selected by it the Lender for the purposes of paragraph 7.3(b) (bCalculation of default rate of interest) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s notification.

Appears in 1 contract

Sources: Loan Agreement (Toro Corp.)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower of each interest rate determined by it under Clause 6.3 7.3 and of each period selected by it for the purposes of paragraph (b) of that ClauseClause 7.3(b); but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s 's notification.

Appears in 1 contract

Sources: Loan Agreement (TBS International LTD)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower Borrowers of each interest rate determined by it the Lender under Clause 6.3 and of each period selected by it the Lender for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is Borrowers are liable to pay such interest only with effect from the date of the Lender’s notification.

Appears in 1 contract

Sources: Loan Agreement (Pyxis Tankers Inc.)

Notification of interest periods and default rates. The Lender shall promptly notify the Borrower of each interest rate determined by it under Clause 6.3 5.3 and of each period selected by it for the purposes of paragraph (b) of that Clause; but this shall not be taken to imply that the Borrower is liable to pay such interest only with effect from the date of the Lender’s 's notification.

Appears in 1 contract

Sources: Fourth Amending and Restating Agreement (DryShips Inc.)