Common use of No requirement to commence Clause in Contracts

No requirement to commence. proceedings against Borrower. Neither the Security Trustee nor any other Finance Party will need to commence any proceedings under, or enforce any Lien Interest created by, the Credit Agreement or any other Finance Document before commencing proceedings under, or enforcing the Lien Interest created by this Mortgage.

Appears in 2 contracts

Samples: Credit Agreement (DHT Holdings, Inc.), Credit Agreement (DHT Holdings, Inc.)

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No requirement to commence. proceedings against Borrower. Neither the Security Trustee nor any other Finance Creditor Party will need to commence any proceedings under, or enforce any Lien Security Interest created by, the Credit Agreement Loan Agreement, any of the Master Agreements or any other Finance Document before claiming or commencing proceedings under, or enforcing the Lien Interest created by under this MortgageGuarantee.

Appears in 1 contract

Samples: Guarantee (Seacastle Inc.)

No requirement to commence. proceedings against BorrowerBorrowers. Neither the Security Trustee nor any other Finance Creditor Party will need to commence any proceedings under, or enforce any Lien Security Interest created by, the Credit Loan Agreement, the Master Agreement or any other Finance Document before claiming or commencing proceedings under, or enforcing the Lien Interest created by under this MortgageGuarantee.

Appears in 1 contract

Samples: Box Ships Inc.

No requirement to commence. proceedings against the Borrower. Neither the Security Trustee nor any other Finance Creditor Party will need to commence any proceedings under, or enforce any Lien Security Interest created by, the Credit Loan Agreement or any other Finance Document before claiming or commencing proceedings under, or enforcing the Lien Interest created by under this MortgageGuarantee.

Appears in 1 contract

Samples: EuroDry Ltd.

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No requirement to commence. proceedings against Borrower. Neither the Security Trustee nor any other Finance Party will need to commence any proceedings under, or enforce any Lien Security Interest created by, the Credit Agreement or Agreement, any other Finance Document before commencing proceedings under, or enforcing the Lien any Security Interest created by by, this Mortgage.

Appears in 1 contract

Samples: Preferred Marshall Islands Mortgage (Eagle Bulk Shipping Inc.)

No requirement to commence. proceedings against Borrower. the Borrower Neither the Security Trustee nor any other Finance Creditor Party will need to commence any proceedings under, or enforce any Lien Security Interest created by, the Credit Loan Agreement or any other Finance Document before claiming or commencing proceedings under, or enforcing the Lien Interest created by under this MortgageGuarantee.

Appears in 1 contract

Samples: EuroDry Ltd.

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