Common use of Selection of Interest Periods Clause in Contracts

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve (12) months or such shorter period as the Borrower may select and the Lender may agree.

Appears in 2 contracts

Sources: Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios South American Logistics Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Payment Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3), six (6), nine (9) or twelve (12) months or such shorter other period as the Borrower may select and the Lender Payment Agent (acting on the instructions of the Lenders) may agree, and if the Borrower wishes to specify an Interest Period of more than 12 months, it must give at least 5 Banking Days prior notice thereof.

Appears in 2 contracts

Sources: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender not later than 10:00 a.m. on the third second Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve one (121), three (3) or six (6) months or such shorter other period as the Borrower may select and the Lender may agree.

Appears in 2 contracts

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

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3) months, six (6) or twelve (12) months or such shorter other period as the Borrower may select and the Lender may agree.

Appears in 2 contracts

Sources: Facility Agreement (StealthGas Inc.), Facility Agreement for a Term Loan (StealthGas Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Payment Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3), six (6) or twelve (12) months or such shorter other period as the Borrower Borrowers may select and the Lender Payment Agent (acting on the instructions of the Lenders) may agree, and if the Borrowers wishes to specify an Interest Period of more than 12 months, it must give at least 5 Banking Days prior notice thereof.

Appears in 2 contracts

Sources: Facility Agreement (Navios Maritime Acquisition CORP), Facility Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or six (6) months or, subject to availability, such shorter other period as the Borrower Borrowers may select and the Lender Agent (acting on the instructions of the Majority Lenders) may agree.

Appears in 2 contracts

Sources: Loan Agreement (Seanergy Maritime Holdings Corp.), Loan Agreement (Seanergy Maritime Holdings Corp.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3), six (6) or twelve (12) months or such shorter other period as the Borrower Borrowers may select and the Lender Agent (acting on the instructions of the Lenders) may agree, and if the Borrowers wishes to specify an Interest Period of more than 12 months, it must give at least 5 Banking Days prior notice thereof.

Appears in 2 contracts

Sources: Facility Agreement (Navios Maritime Acquisition CORP), Facility Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of one (1) month, three (3) months, six (6) months, twelve (12) months or such shorter other period as the Borrower Borrowers may select and the Lender Agent (acting on the instructions of the Lenders) may agreeagree and the Borrowers may select no more than three Interest Periods having a duration of one (1) month period in any calendar year.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Payment Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) or six (6) months or such shorter other period as the Borrower may select and the Lender Payment Agent (acting on the instructions of the Lenders) may agree.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Partners L.P.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3) months, six (6) months, nine (9) months, twelve (12) months or such shorter other period as the Borrower may select and the Lender Agent (acting on the instructions of the Lenders) may agree.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123), six (6), nine (9) months or such shorter period as the Borrower may select and the Lender may agree.twelve

Appears in 1 contract

Sources: Facility Agreement

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of one (1) month, three (3) months, six (6) months, twelve (12) months or such shorter other period as the Borrower may select and the Lender Agent (acting on the instructions of the Lenders) may agreeagree and the Borrower may select no more than three Interest Periods having a duration of one (1) month period in any calendar year.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender not later than 10:00 a.m. on the third second Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve one (121), three (3) or six (6) months or such shorter other period as the Borrower Borrowers may select and the Lender may agree.

Appears in 1 contract

Sources: Facility Agreement (Euroseas Ltd.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or such shorter other period as the Borrower may select and the Lender Agent (acting on the instructions of the Banks) may agree.

Appears in 1 contract

Sources: Loan Agreement (StealthGas Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or such shorter other period as the Borrower may select and the Lender may Lenders may, in their complete discretion, agree.

Appears in 1 contract

Sources: Facility Agreement for a Term Loan Facility (Navios Maritime Acquisition CORP)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Payment Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or such shorter other period as the Borrower may select and the Lender Payment Agent (acting on the instructions of the Lenders) may agree.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or such shorter other period as the Borrower Borrowers may select and the Lender may Lenders may, in their complete discretion, agree, and if the Borrowers wish to specify an Interest Period of more than 12 months, they must give at least 5 Banking Days prior notice thereof.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Acquisition CORP)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or such shorter other period as the Borrower may select and the Lender Agent (acting on the instructions of the Lenders) may agree.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Partners L.P.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or (with the prior agreement of all the Lenders) such shorter other period as the Borrower Borrowers may select and the Lender may Lenders may, in their complete discretion, agree, and if the Borrowers wish to specify an Interest Period of more than 12 months, they must give at least 5 Banking Days prior notice thereof.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve one (121) month, three (3) months or six (6) months or such shorter other period as the Borrower Borrowers may select and the Lender Agent (acting on the instructions of the Majority Banks) may agree.

Appears in 1 contract

Sources: Senior Loan Agreement (FreeSeas Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Bank not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve one (121) month, three (3) months or six (6) months or such shorter other period as the Borrower Borrowers may select and the Lender Bank may agree.

Appears in 1 contract

Sources: Junior Loan Agreement (FreeSeas Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender not later than 10:00 a.m. on the third second Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve one (121), three (3) or six (6) months or such shorter other period as the Borrower may select and the Lender may agree.

Appears in 1 contract

Sources: Facility Agreement (EuroDry Ltd.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months, six (6) months, nine (9) months or such shorter other period as the Borrower Borrowers may select and the Lender may agree.

Appears in 1 contract

Sources: Loan Agreement (NewLead Holdings Ltd.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or six (6) months or such shorter other period as the Borrower may select and the Lender Agent (acting on the instructions of the Lenders) may agree.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or (with the prior agreement of the Lenders) one (1) month or such shorter other period as the Borrower Borrowers may select and the Lender may Lenders may, in their complete discretion, agree, and if the Borrowers wish to specify an Interest Period of more than 12 months, they must give at least 5 Banking Days prior notice thereof.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months, six (6) months or such shorter other period as the Borrower Borrowers may select and the Lender may Lenders may, in their complete discretion, agree, and if the Borrowers wish to specify an Interest Period of more than 12 months, they must give at least 5 Banking Days prior notice thereof.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Acquisition CORP)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third second Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or or, subject to availability, such shorter other period as the Borrower Borrowers may select and the Lender Agent may agreeagree in its absolute discretion.

Appears in 1 contract

Sources: Facility Agreement (Costamare Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3), six (6) or twelve (12) months or such shorter other longer period as the Borrower Borrowers may select and the Lender Agent (acting on the instructions of the Lenders) may agree, and if the Borrowers wish to specify an Interest Period of more than 12 months, they must give at least 5 Banking Days prior notice thereof.

Appears in 1 contract

Sources: Facility Agreement (Navios Maritime Holdings Inc.)