Margin Reset Clause Samples

Margin Reset. 7.9.1 Subject to the prior written approval of K-sure and the K-sure Agent, the Agent (acting on the instruction of any Lender) shall be entitled to increase the Margin which shall apply for the Interest Period starting on or immediately following the date falling on the sixth (6th) anniversary of the Drawdown Date (the “Margin Reset Date”) and for each other subsequent Interest Period thereafter. 7.9.2 The Agent shall, no later than two (2) months prior to the Margin Reset Date, provide to the Borrower written notice of any proposed change in Margin (the “Margin Reset Notice”). The Borrower shall have seven (7) days from the date of the Margin Reset Notice to notify the Agent in writing if such change is not acceptable to it, failing which the Borrower shall be deemed to have accepted the change in Margin as set out in the Margin Reset Notice, which shall apply for each Interest Period after the Margin Reset Date. 7.9.3 If the Borrower has issued a notice under Clause 7.9.2, the Borrower shall, following receipt of the Agent’s written demand (acting on behalf of all the Lenders) for the mandatory prepayment of the Loan then outstanding, on the next Interest Payment Date immediately following such written demand by the Agent, prepay the whole of the Loan and all other Indebtedness associated therewith (as conclusively certified by the Agent), but without premium or penalty.

Margin Reset. (a) The Borrowers, the Parent Guarantor or any of its Subsidiaries may by no later than the first day of any Interest Period (the "Relevant Interest Period") pledge additional cash deposits in the form of time deposits (in increments of $1,000,000) up to the aggregate amount of the Loan outstanding at the time (the "Pledged Amount") in the Cash Collateral Account whereby the Margin for only that part of the Loan being equal to the Pledged Amount, shall be reduced to 0.75 per cent. per annum (the "Adjusted Margin"). (b) The Obligors shall retain the Pledged Amount in the Cash Collateral Account for the whole duration of the Relevant Interest Period and may only make use of the whole or part of it after the end of the Relevant Interest Period and subject to the Lender receiving notice of such intention of the Borrowers by no later than 11 a.m. (Athens time) on the third Business Day before the beginning of the next Interest Period.