Common use of Demand Clause in Contracts

Demand. basis If, pursuant to clause 10.2.2, the Agent declares the Loan to be due and payable on demand, the Agent may (and if so instructed by the Majority Banks shall) by written notice to the Borrowers (a) call for repayment of the Loan on such date as may be specified whereupon the Loan shall become due and payable on the date so specified together with all interest accrued and all other sums payable under this Agreement or (b) withdraw such declaration with effect from the date specified in such notice.

Appears in 12 contracts

Samples: Tenth Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Agreement (Aegean Marine Petroleum Network Inc.), Agreement (FreeSeas Inc.)

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Demand. basis If, pursuant to clause 10.2.2, the Agent declares the Loan to be due and payable on demand, the Agent may (and if so instructed by the Majority Banks shall) by written notice to the Borrowers (a) call for repayment of the Loan on such date as may be specified whereupon the Loan shall become due and payable on the date so specified together with all interest and commitment commission accrued and all other sums payable under this Agreement or (b) withdraw such declaration with effect from the date specified in such notice.

Appears in 7 contracts

Samples: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Mc Shipping Inc), Agreement (DryShips Inc.)

Demand. basis If, pursuant to clause 10.2.2, the Agent declares the Loan to be due and payable on demand, the Agent may (and if so instructed by with the prior approval of the Majority Banks shallBanks) by written notice to the Borrowers (a) call for repayment of the Loan on such date as may be specified whereupon the Loan shall become due and payable on the date so specified together with all interest accrued and all other sums payable under this Agreement or (b) withdraw such declaration with effect from the date specified in such notice.Borrower:

Appears in 4 contracts

Samples: Facilities Agreement (Aries Maritime Transport LTD), Agreement (Aries Maritime Transport LTD), Facilities Agreement (Omega Navigation Enterprises, Inc.)

Demand. basis Ifif, pursuant to clause 10.2.2, the Agent declares the Loan to be due and payable on demand, the Agent may (and if so instructed by the Majority Banks shall) by written notice to the Borrowers (a) call for repayment of the Loan on such date as may be specified whereupon the Loan shall become due and payable on the date so specified together with all interest accrued and all other sums payable under this Agreement or (b) withdraw such declaration with effect from the date specified in such notice.

Appears in 2 contracts

Samples: Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

Demand. basis If, pursuant to under clause 10.2.2, the Agent declares has declared the Loan to be due and payable on demand, at any time thereafter the Agent may (and if so instructed by the Majority Banks shall) by written notice to the Borrowers Borrower (a) call for demand repayment of the Loan on such date as may be specified whereupon the Loan shall become due and payable on the date so specified together with all interest accrued and all other sums payable under this Agreement or (b) withdraw such declaration with effect from the date specified in such notice.

Appears in 2 contracts

Samples: Loan Agreement (StealthGas Inc.), Loan Agreement (StealthGas Inc.)

Demand. basis If, pursuant to clause 10.2.2, the Agent declares the Loan to be due and payable on demand, the Agent may (and if so instructed requested by the Majority Banks shall) by written notice to the Borrowers (a) call for repayment of the Loan on such date as may be specified whereupon the Loan shall become due and payable on the date so specified together with all interest accrued and all other sums payable under this Agreement or (b) withdraw such declaration with effect from the date specified in such notice.Borrower:

Appears in 2 contracts

Samples: Loan Agreement (Diana Shipping Inc.), Loan Agreement (DryShips Inc.)

Demand. basis If, pursuant to clause 10.2.2, 10.2.2 the Facility Agent declares the Loan to be due and payable on demand, the Facility Agent may (and and, if so instructed by the Majority Banks Banks, shall) by written notice to the Borrowers Borrower (a) call for repayment of the Loan on such date as may be specified whereupon the Loan shall become due and payable on the date so specified together with all interest and any commitment commission accrued and all other sums payable under this Agreement or (b) withdraw such declaration with effect from the date specified in such notice.

Appears in 1 contract

Samples: Management Agreement (Golar LNG LTD)

Demand. basis If, pursuant to clause 10.2.2, the Agent declares the Loan to be due and payable on demand, the Agent may (may, and if so instructed by the Majority Banks shall) , by written notice to the Borrowers (a) call for repayment of the Loan on such date as may be specified whereupon the Loan shall become due and payable on the date so specified together with all interest accrued and all other sums payable under this Agreement or (b) withdraw such declaration with effect from the date specified in such notice.

Appears in 1 contract

Samples: Loan Agreement (Golden Energy Marine Corp.)

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Demand. basis Ifif, pursuant to clause 10.2.2Clause 10.2(b), the Agent declares the Loan to be due and payable on demand, the Agent may (and if so instructed requested by the Majority Banks shallLenders) by written notice to the Borrowers (a) call for repayment of the Loan on such date as may be specified whereupon the Loan shall become due and payable on the date so specified together with all interest and commitment commission accrued and all other sums payable under this Agreement or (b) withdraw such declaration with effect from the date specified in such notice.

Appears in 1 contract

Samples: Loan Agreement (Excel Maritime Carriers LTD)

Demand. basis If, pursuant to clause 10.2.2, the Agent declares the Loan to be due and payable on demand, the Agent may (and and, if so instructed by the Majority Banks Banks, shall) by written notice to the Borrowers (a) call for repayment of the Loan on such date as may be specified whereupon the Loan shall become due and payable on the date so specified together with all interest and commitment commission accrued and all other sums payable under this Agreement or (b) withdraw such declaration with effect from the date specified in such notice.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Demand. basis ------------ If, pursuant to clause 10.2.213.2(b), the Agent declares the Loan to be due and payable on demand, demand then the Agent may (and and, if so instructed by the Majority Banks Banks, shall) at any time by written notice to the Borrowers Borrower (a) call for repayment of the Loan on such date as may be specified in such notice whereupon the Loan shall become due and payable on the date so specified together with all interest and fees accrued and all other sums payable under this Agreement or (b) withdraw such declaration with effect from the date specified in such notice.. 77

Appears in 1 contract

Samples: Joint Venture Agreement (United International Holdings Inc)

Demand. basis If, pursuant to under clause 10.2.2, the Agent declares has declared the Loan to be due and payable on demand, at any time thereafter the Agent may (and if so instructed by the Majority Banks Lenders shall) by further written notice to the Borrowers (a) call for demand repayment of the Loan on such date as may be specified whereupon the Loan shall become due and payable on the date so specified together accordingly with all interest accrued and all other sums payable under this Agreement or (b) withdraw such declaration with effect from the date specified in such noticeAgreement.

Appears in 1 contract

Samples: Navios Maritime Partners L.P.

Demand. basis If, pursuant to clause 10.2.2Clause 11.2(b), the Agent declares the outstanding Loan to be due and payable on demanddemand then, at any time thereafter, the Agent may (and may, or, if so instructed by the Majority Banks Lenders, shall) , by written notice to the Borrowers Borrower (a) call for repayment of the Loan on such date as may be specified whereupon in that notice and the Loan shall become due and payable on the date so specified together with all interest accrued and all other sums payable under this Agreement or (b) withdraw such that declaration with effect from the date specified in such the notice.

Appears in 1 contract

Samples: Loan Agreement (Lam Research Corp)

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