Disbursement of the Loan. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrowers the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrowers shall be made: (a) to the account which the Borrowers specify in the Drawdown Notice; and (b) in the like funds as the Agent received the payments from the Lenders.
Appears in 3 contracts
Sources: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.)
Disbursement of the Loan. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrowers the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrowers shall be made:
(a) to the account which the Borrowers specify in the Drawdown Notice; and
(b) in the like funds as the Agent received the payments from the Lenders.Clause
Appears in 2 contracts
Sources: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.)
Disbursement of the Loan. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrowers Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrowers Borrower shall be made:
(a) to the account which the Borrowers specify Borrower specifies in the Drawdown Notice; and
(b) in the like funds as the Agent received the payments from the Lenders.
Appears in 1 contract
Disbursement of the Loan. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrowers the amounts which the Agent receives from the Lenders under Clause 4.54.3 above; and that payment to the Borrowers shall be made:
(a) to the account which the Borrowers specify in the Drawdown Notice; and
(b) in the like funds as the Agent received the payments from the Lenders.
Appears in 1 contract
Sources: Term Loan Facility Agreement (Navios Maritime Partners L.P.)
Disbursement of the Loan. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrowers Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; 4.5 and that payment to the Borrowers Borrower shall be made:
(a) made to the account which the Borrowers specify Borrower specifies in the Drawdown Notice; and
(b) Notice and in the like same funds as the Agent received the payments from the Lenders.
Appears in 1 contract
Sources: Loan Agreement (Euroseas Ltd.)
Disbursement of the Loan. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrowers Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; 4.5 (Lenders to make available Contributions) and that payment to the Borrowers Borrower shall be made:
(a) to the account which the Borrowers specify in the Drawdown Notice; and
(b) in the like funds as the Agent received the payments from the Lenders.
Appears in 1 contract
Sources: Loan Agreement (EuroDry Ltd.)
Disbursement of the Loan. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Effective Date pay to the Borrowers Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; 4.5 and that payment to the Borrowers Borrower shall be made:
(a) to the account which the Borrowers specify Borrower specifies in the Drawdown NoticeBorrowing Request; and
(b) in the like funds as the Agent received the payments from the Lenders.
Appears in 1 contract
Sources: Second Lien Loan Agreement (Eagle Bulk Shipping Inc.)
Disbursement of the Loan. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrowers the amounts which the Agent receives from the Lenders under Clause 4.5; 4.5 and that payment to the Borrowers shall be made:
(a) made to the account which the Borrowers specify in the Drawdown Notice; and
(b) Notice and in the like same funds as the Agent received the payments from the Lenders.
Appears in 1 contract
Sources: Loan Agreement (EuroDry Ltd.)
Disbursement of the Loan. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrowers Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrowers Borrower shall be made:
(a) to the account of the Seller which the Borrowers Borrower specify in the Drawdown Notice; and
(b) in the like funds as the Agent received the payments from the Lenders.
Appears in 1 contract
Sources: Loan Agreement (StealthGas Inc.)
Disbursement of the Loan. Subject to the provisions of this Agreement, the Agent shall on the Drawdown Date pay to the Borrowers the amounts which the Agent receives from the Lenders under Clause 4.54.5 (Lenders to make available Contributions); and that payment to the Borrowers shall be made:
(a) to the account or accounts which the Borrowers specify in the Drawdown Notice; and
(b) in the like funds as the Agent received the payments from the Lenders.
Appears in 1 contract