Common use of Agreement to Lend Clause in Contracts

Agreement to Lend. The Lenders, relying upon each of the representations and warranties in clause 7, agree to provide to the Borrowers upon and subject to the terms of this Agreement, the Advances, for the purposes of financing part of the purchase price of the Vessels. Subject to the terms of this Agreement, the obligations of the Lenders shall be to contribute to each Advance, the proportion of the relevant Advance which their respective Commitments bear to the Total Commitment on any relevant Drawdown Date.

Agreement to Lend. The Lenders, relying upon each of the representations and warranties in clause 7, agree to provide to the Borrowers upon and subject to the terms of this Agreement, the AdvancesTranches, for the purposes of financing part of the purchase price of the Vessels. Subject to the terms of this Agreement, the obligations of the Lenders shall be to contribute to each Advance, the proportion of the relevant Advance which their respective Commitments bear to the Total Commitment on any relevant Drawdown Date.

Agreement to Lend. The Lenders, relying upon each of the representations and warranties in clause 7, agree to provide to the Borrowers Borrower upon and subject to the terms of this Agreement, the Advances, Loan in up to 2 Advances for the purposes of re-financing its obligations under the Existing Loan Agreement and financing part of the purchase price of the VesselsVessel. Subject to the terms of this Agreement, the obligations of the Lenders shall be to contribute to each Advance, the proportion of the relevant Advance which their respective Commitments bear to the Total Commitment aggregate Commitments on any relevant Drawdown Date.

Agreement to Lend. The Lenders, relying upon each of the representations and warranties in clause 7, agree to provide to the Borrowers Borrower upon and subject to the terms of this Agreement, the Advances, Loan in up to 4 Advances for the purposes of financing part of the purchase price of the VesselsVessel. Subject to the terms of this Agreement, the obligations of the Lenders shall be to contribute to each Advance, the proportion of the relevant Advance which their respective Commitments bear to the Total Commitment aggregate Commitments on any relevant Drawdown Date.

Agreement to Lend. The Lenders, relying upon each of the representations and warranties in clause 7, agree to provide to the Borrowers upon and subject to the terms of this Agreement, the AdvancesTranches, each in up to 5 Advances for the purposes of financing part of the purchase price of the Vessels. Subject to the terms of this Agreement, the obligations of the Lenders shall be to contribute to each Advance, the proportion of the relevant Advance which their respective Commitments bear to the Total Commitment aggregate Commitments on any relevant Drawdown Date.