Compulsory Prepayment. Unless the Bank agrees to accept substitute security in form and substance satisfactory to the Bank, in line with Clauses 13.5.2 and 13.5.3 hereof, the Borrower shall, within one hundred eighty (180) days of the Vessel becoming a Total Loss or such other later day as may be agreed in writing by the Bank, or upon the Vessel being sold, prepay the Loan together with accrued interest to the date of prepayment and all other sums payable by the Borrower to the Bank pursuant to this Agreement and the other Security Documents (and if the Commitment or any portion thereof has not been drawn yet, it shall be reduced to zero).
Compulsory Prepayment. 26 4.03A Grounds for prepayment..........................................................................................................26 4.03A(1) PROJECT COST REDUCTION......................................................................................26 4.03A(2) PARI PASSU TO NON-EIB FINANCING......................................................................27 4.03A(3) CHANGE OF CONTROL..............................................................................................27 4.03A(4) CHANGE OF LAW.........................................................................................................28 4.03A(5) ILLEGALITY..................................................................................................................28 4.03B Prepayment mechanics..............................................................................................................28 4.03C Prepayment indemnity...............................................................................................................28 4.04 GENERAL...............................................................................................................................29 ARTICLE 5...........................................................................................................................................29
Compulsory Prepayment. If it has become clear that the Offer Closing Date would not come due to the withdrawn of the Tender Offer or other reasons or if the Merger Agreement is terminated prior to the Merger Closing Date, this Agreement shall immediately be terminated with respect to both Tranche A and Tranche B in relation to all the Lenders. All the Borrowers shall prepay the whole amount of the Outstanding TRANSLATION OF THE ORIGINAL AGREEMENT IN JAPANESE Individual Loan Moneys in accordance with the provisions set out in this Chapter 9 by the Interest Payment Date coming after five (5) Relevant Business Days have passed since the date such event occurred.
Compulsory Prepayment. The Borrower shall be obliged to prepay the entire Loan if the Ship is (i) sold or (ii) a Total Loss.i
Compulsory Prepayment. 9.1.1 If at any time the Account Balance exceeds the Facility Limit, the Borrower will prepay to GMAC on demand such amount as GMAC certifies is necessary to ensure that the Account Balance is, after such prepayment, equal to or less than the Facility Limit and until such prepayment is made no further Advances shall be made under the Facility. 9.1.2 If at any time:
Compulsory Prepayment. The Borrower shall,
Compulsory Prepayment. Unless the Bank agrees to accept substitute security in form and substance satisfactory to the Bank, in line with Clauses 13.5.2 and 13.5.3 hereof, the Borrower shall, within one hundred eighty (180) days of the Vessel becoming a Total Loss or such other later day as may be agreed in writing by the Bank, or upon the Vessel being sold, prepay the Loan together with accrued interest to the date of prepayment and all other sums payable by the Borrower to the Bank pursuant to this Agreement and the other Security Documents (and if the Commitment or any portion thereof has not been drawn yet, it shall be reduced to zero).” and to construe all references in the Loan Agreement to the Vessel” or “a Vessel” or “the Vessels” as references to the m.v. “TIGER BRIDGE” built in 1990, being of 24495 gross tons and of 10403 net tons currently registered under the Xxxxxxxx Islands flag in the ownership of the Additional Corporate Guarantor. Yours faithfully /s/ Xxxxxxxxx-Xxxxxxx Hydreou /s/ Xxxx Xxxxxxxx for and on behalf of EFG EUROBANK ERGASIAS S.A. Accepted and agreed /s/ Xxxxxxxx Xxxxxxx for and on behalf of TRUST NAVIGATION CORP. Dated 30th December 2008 COUNTERSIGNED this 30th day of December 2008 by each of the following Security Parties, which by its execution hereof, confirms and acknowledges that it has read and understood the terms and conditions of this supplemental letter, that it agrees in all respects to the same and that the Security Documents to which it is a party shall remain in full force and effect and shall continue to stand as security for the obligations of the Borrower under the Loan Agreement. /s/ Xxxxxxxx Xxxxxxx for and on behalf of TIGER NAVIGATION CORP. /s/ Xxxxxxxx Xxxxxxx for and on behalf of
Compulsory Prepayment. If (i) the Sale of BEST Express closes prior to the Final Maturity Date of any Loan made hereunder; (ii) in addition to BEST Freight Reorganization, the Group also sells, transfers, assigns or otherwise disposes of any assets owned by it of which the total market value reaches or exceeds 5% of the value of net assets of the Group on December 31, 2020 (as stated in the audited financial statements); or (iii) any Change of Control occurs:
Compulsory Prepayment. A. If the total cost of THE PROJECT should fall significantly short of the figure stated in the Recitals, THE BORROWER shall upon demand of THE BANK prepay the required amount of the Loan, together with interest and related sums accrued thereon, on the date indicated by THE BANK. For this purpose, the required amount of the Loan shall be the minimum amount such as to ensure that the outstanding principal amount of the Loan shall not exceed 50% of the total cost of THE PROJECT.
Compulsory Prepayment. A. If the total cost of the Project should fall significantly short of the figure stated in the Recitals, THE BANK may in proportion to the shortfall demand prepayment of one or more Tranches of the Loan together with interest accrued thereon by notice to THE BORROWERS and THE BORROWERS shall comply with such notice. For the purposes of this Article 4.03A a fall in the total cost of the Project shall be significant where it results in THE BANK providing 50% or more of the financing for the Project.
