Common use of No additional costs Clause in Contracts

No additional costs. If at the time of, or immediately after, any transfer by a Lender of any part of its rights, benefits and/or obligations under this Agreement, or any change in the office through which a Lender lends for the purposes of this Agreement or a Lender’s re-organisation under Clause 26.6, the Borrowers would be obliged to pay to the Transferee Lender or the successor (as defined in Clause 26.6) or (in the case of a change of lending office) such Lender under Clauses 5.7, 22.2 or 24.1 any sum in excess of the sum (if any) which it would have been obliged to pay to such Lender under the relevant clauses in the absence of such transfer, re-organisation or change of office, the Borrowers shall not be obliged to pay that excess.

Appears in 1 contract

Sources: Loan Agreement (Costamare Partners LP)

No additional costs. If at the time of, or immediately after, any assignment or transfer by a the Lender of all or any part of its rights, rights or benefits and/or or obligations under this Agreement, or any change in the office through which a Lender it lends for the purposes of this Agreement or a Lender’s re-organisation under Clause 26.6Agreement, the Borrowers Borrower would be obliged to pay to the Lender or, as the case may be, the Transferee Lender or under clause 3.6 (Market disruption), 6.6 (Grossing-up for Taxes – by the successor (as defined in Clause 26.6Borrower) or clause 12.2 (in the case of a change of lending officeIncreased costs) such Lender under Clauses 5.7, 22.2 or 24.1 any sum in excess of the sum (if any) which it would have been obliged to pay to such the Lender or the Transferor Lender, as the case may be, under the relevant clauses clause in the absence of such transferassignment, re-organisation transfer or change of officechange, the Borrowers Borrower shall not be obliged to pay that excess.

Appears in 1 contract

Sources: Loan Agreement (Pyxis Tankers Inc.)

No additional costs. If at the time of, or immediately after, any transfer by a Lender of any part of its rights, benefits and/or obligations under this Agreement, or any change in the office through which a Lender lends for the purposes of this Agreement or a Lender’s re-organisation under Clause 26.6, the Borrowers Borrower would be obliged to pay to the Transferee Lender or the successor (as defined in Clause 26.6) or (in the case of a change of lending office) such Lender under Clauses 5.7, 22.2 or 24.1 any sum in excess of the sum (if any) which it would have been obliged to pay to such Lender under the relevant clauses in the absence of such transfer, re-organisation or change of office, the Borrowers Borrower shall not be obliged to pay that excess.

Appears in 1 contract

Sources: Loan Agreement (Costamare Partners LP)

No additional costs. If at the time of, or immediately after, any transfer by a Lender of any part of its rights, benefits and/or obligations under this Agreement, or any change in the office through which a Lender lends for the purposes of this Agreement or a Lender’s re-organisation under Clause 26.6, the Borrowers would be obliged to pay to the Transferee Lender or the successor (as defined in Clause 26.6) or (in the case of a change of lending office) such Lender under Clauses 5.7, 22.2 or 24.1 any sum in excess of the sum (if any) which it would have been obliged to pay to such Lender under the relevant clauses in the absence of such transfer, re-organisation or change of office, the Borrowers shall not be obliged to pay that excessexcess Provided that the provisions of this Clause 26.18 do not apply if at the relevant time any Event of Default has occurred which is continuing.

Appears in 1 contract

Sources: Loan Agreement (Product Shipping Ltd.)