Common use of Amounts payable on prepayment Clause in Contracts

Amounts payable on prepayment. Any prepayment of all or part of the Loan under this Agreement shall be made together with: (a) accrued interest on the amount of the Loan to the date of such prepayment (calculated, in the case of a prepayment pursuant to Clause 3.6 (Market disruption) at a rate equal to the aggregate of the Margin and the cost to the Lender of funding the Loan); (b) any additional amount payable under Clause 5.3 (Gross Up); (c) all other sums payable by the Borrower to the Lender under this Agreement or any of the other Finance Documents including, without limitation, any amounts payable under Clause 10 (Indemnities - Expenses – Fees); and (d) in relation to any prepayment made on a date other than an Interest Payment Date in respect of the whole of the Loan, it shall, in addition to the amount prepaid and accrued interest, pay to the Lender any amount which the Lender may certify is necessary to compensate the Lender for any Break Costs incurred by the Lender as a result of the making of the prepayment in question.

Appears in 2 contracts

Sources: Loan Agreement (Performance Shipping Inc.), Loan Agreement (Performance Shipping Inc.)

Amounts payable on prepayment. Any prepayment of all or part of the Loan under this Agreement shall be made together with: (a) accrued interest on the prepaid amount of the Loan to the date of such prepayment (calculated, in the case of a prepayment pursuant to Clause 3.6 (Market disruption) at a rate equal to the aggregate of the Applicable Margin and the cost of funds to the Lender pursuant to Clause 3.7 (Cost of funding the Loanfunds)); (b) any additional amount amount, if applicable, payable under Clause Clauses 5.3 (Gross Up) and/or 12.2 (Increased cost) and 12.3 (Claim for increased cost); (c) all other sums payable by the Borrower to the Lender under this Agreement or any of the other Finance Documents including, without limitation, any amounts payable under Clause 10 (Indemnities - Expenses – Fees); and (d) in relation to any prepayment made on a date other than an Interest Payment Date in respect of the whole of the Loan, it shall, in addition to the amount prepaid and accrued interest, pay to the Lender any amount which the Lender may certify is necessary to compensate the Lender for any Break Costs incurred by the Lender as a result of the making of the prepayment in question.

Appears in 2 contracts

Sources: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Pyxis Tankers Inc.)

Amounts payable on prepayment. Any prepayment of all or part of the Loan under this Agreement shall be made together with: (a) accrued interest on the amount of the Loan to the date of such prepayment (calculated, in the case of a prepayment pursuant to Clause 3.6 (Market disruption) at a rate equal to the aggregate of the Margin and the cost to the Lender of funding the Loan); (b) any additional amount payable under Clause 5.3 (Gross Up); (c) all other sums payable by the Borrower Borrowers to the Lender under this Agreement or any of the other Finance Documents including, without limitation, any amounts payable under Clause 10 (Indemnities - Expenses – Fees); and (d) in relation to any prepayment made on a date other than an Interest Payment Date in respect of the whole of the Loan, it shall, in addition to the amount prepaid and accrued interest, pay to the Lender any amount which the Lender may certify is necessary to compensate the Lender for any Break Costs incurred by the Lender as a result of the making of the prepayment in question.

Appears in 1 contract

Sources: Loan Agreement (Performance Shipping Inc.)

Amounts payable on prepayment. Any prepayment of all or part of the Loan under this Agreement shall be made together with: (a) accrued interest on the amount of the Loan to the date of such prepayment (calculated, in the case of a prepayment pursuant to Clause 3.6 (Market disruption) at a rate equal to the aggregate of the Applicable Margin and the cost to the Lender of funding the Loan); (b) any additional amount payable under Clause 5.3 (Gross Up); (c) all other sums payable by the Borrower Borrowers to the Lender under this Agreement or any of the other Finance Documents including, without limitation, any amounts payable under Clause 10 (Indemnities - Expenses – Fees); and (d) in relation to any prepayment made on a date other than an Interest Payment Date in respect of the whole of the Loan, it shall, in addition to the amount prepaid and accrued interest, pay to the Lender any amount which the Lender may certify is necessary to compensate the Lender for any Break Costs incurred by the Lender as a result of the making of the prepayment in question.

Appears in 1 contract

Sources: Loan Agreement (Castor Maritime Inc.)

Amounts payable on prepayment. Any prepayment of all or part of the Loan under this Agreement shall be made together with: (a) accrued interest on the prepaid amount of an Advance or, as the case may be, the Loan to the date of such prepayment (calculated, in the case of a prepayment pursuant to Clause 3.6 (Market disruption) at a rate equal to the aggregate of the Applicable Margin and the cost to the Lender of funding the Loan); (b) any additional amount payable under Clause 5.3 (Gross Up); (c) all other sums payable by the Borrower Borrowers to the Lender under this Agreement or any of the other Finance Documents including, without limitation, any amounts payable under Clause 10 (Indemnities - Expenses – Fees); and (d) in relation to any prepayment made on a date other than an Interest Payment Date in respect of an Advance or ,as the whole of case may be the Loan, it shall, in addition to the amount prepaid and accrued interest, pay to the Lender any amount which the Lender may certify is necessary to compensate the Lender for any Break Costs incurred by the Lender as a result of the making of the prepayment in question.

Appears in 1 contract

Sources: Loan Agreement (Pyxis Tankers Inc.)

Amounts payable on prepayment. Any prepayment of all or part of the Loan under this Agreement shall be made together with: (a) accrued interest on the prepaid amount of the Loan to the date of such prepayment (calculated, in the case of a prepayment pursuant to Clause 3.6 (Market disruption) at a rate equal to the aggregate of the Margin and the cost of funds to the Lender pursuant to Clause 3.7 (Cost of funding the Loanfunds)); (b) any additional amount amount, if applicable, payable under Clause Clauses 5.3 (Gross Up) and/or 12.2 (Increased cost) and 12.3 (Claim for increased cost); (c) all other sums payable by the Borrower to the Lender under this Agreement or any of the other Finance Documents including, without limitation, any amounts payable under Clause 10 (Indemnities - Expenses – Fees); and (d) in relation to any prepayment made on a date other than an Interest Payment Date in respect of the whole of the Loan, it shall, in addition to the amount prepaid and accrued interest, pay to the Lender any amount which the Lender may certify is necessary to compensate the Lender for any Break Costs incurred by the Lender as a result of the making of the prepayment in question.

Appears in 1 contract

Sources: Loan Agreement (Pyxis Tankers Inc.)