Prepayment; termination of Commitment. On the Agent notifying the Borrower under Clause 23.2, subject to the consent and participation of the Notifying Lender, the Creditor Parties shall use reasonable efforts to transfer the Notifying Lender's Commitment to a lending office in a jurisdiction not affected by the events described in Clause 23.1 and, if they are unable to successfully transfer the Notifying Lender's Commitment within a time frame selected in their discretion, the Notifying Lender's Commitment shall be immediately cancelled; and thereupon or, if later, on the date specified in the Notifying Lender's notice under Clause 23.1 as the date on which the notified event would become effective the Borrower shall prepay the Notifying Lender's Contribution on the last day of the then current Interest Period in accordance with clauses 8.10 and 8.11(a).
Appears in 3 contracts
Sources: Loan Agreement (EuroDry Ltd.), Loan Agreement (EuroDry Ltd.), Loan Agreement (Euroseas Ltd.)