Common use of Normal rate of interest Clause in Contracts

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each Advance in respect of an Interest Period relative to that Advance shall be the aggregate of (i) the Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the “Applicable Lender”) notifies the Agent at least 5 Business Days before the start of that Interest Period that its Cost of Funding exceeds LIBOR (including the amount of such excess) on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender’s Contribution in the relevant Advance, the Correction Rate applicable to the Applicable Lender for that Interest Period.

Appears in 5 contracts

Samples: Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Castor Maritime Inc.), Loan Agreement (Navios Maritime Containers L.P.)

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Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each Advance the Loan in respect of an Interest Period relative to that Advance shall be the aggregate of (i) the Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the “Applicable Lender”) notifies the Agent at least 5 Business Days before the start of that Interest Period that its Cost of Funding exceeds LIBOR (including the amount of such excess) on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender’s Contribution in the relevant AdvanceLoan, the Correction Rate applicable to the Applicable Lender for that Interest Period.

Appears in 2 contracts

Samples: Loan Agreement (Navios Maritime Acquisition CORP), Agreement (Navios Maritime Holdings Inc.)

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each the Advance in respect of an Interest Period relative to that Advance shall be the aggregate of (i) the Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the “Applicable Lender”) notifies the Agent at least 5 Business Days before the start of that Interest Period that its Cost of Funding exceeds LIBOR (including the amount of such excess) on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender’s Contribution in the relevant Advance, the Correction Rate applicable to the Applicable Lender for that Interest Period.

Appears in 2 contracts

Samples: Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.)

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each Advance the Loan in respect of an Interest Period relative to that Advance shall be the aggregate of (i) the applicable Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the “Applicable Lender”) notifies the Agent at least 5 Business Days before the start of that Interest Period that its Cost of Funding exceeds LIBOR (including the amount of such excess) on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender’s Contribution in the relevant AdvanceLoan, the Correction Rate applicable to the Applicable Lender for that Interest Period.

Appears in 1 contract

Samples: Agreement (Navios Maritime Acquisition CORP)

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each the Advance in respect of an Interest Period relative to that Advance shall be the aggregate of (i) the Margin, (ii) the Mandatory Cost (if any), (iiiHi) LIBOR for that Interest Period Period, (iv) the relevant Top-up Fee and (ivv) if a Lender (the “Applicable Lender”) notifies the Agent at least 5 Business Days before the start of that Interest Period that its Cost of Funding exceeds LIBOR (including the amount of such excess) on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender’s Contribution in the relevant Advance, the Correction Rate applicable to the Applicable Lender for that Interest Period.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Acquisition CORP)

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each an Advance in respect of an Interest Period relative to that Advance shall be the aggregate of (i) the Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the “Applicable Lender”) notifies the Agent at least 5 Business Days before the start of that Interest Period that its Cost of Funding exceeds LIBOR (including the amount of such excess) on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender’s Contribution in the relevant Advance, the Correction Rate applicable to the Applicable Lender for that Interest Period.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Acquisition Corp)

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Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each Advance in respect of an Interest Period relative to that Advance shall be the aggregate of (i) the Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the "Applicable Lender") notifies the Agent at least 5 Business Days before the start of that Interest Period that its Cost of Funding exceeds LIBOR (including the amount of such excess) on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender’s 's Contribution in the relevant Advance, the Correction Rate applicable to the Applicable Lender for that Interest Period.

Appears in 1 contract

Samples: Loan Agreement (Castor Maritime Inc.)

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each Advance in respect of an Interest Period relative to that Advance shall be the aggregate of (i) the Applicable Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the "Applicable Lender") notifies the Agent at least 5 3 Business Days Day before the start of that Interest Period that its Cost of Funding exceeds LIBOR (including the amount of such excess) on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender’s Contribution in the relevant Advance's Contribution, the LIBOR Correction Rate applicable to the that Applicable Lender for that Interest Period.

Appears in 1 contract

Samples: Agreement (Seanergy Maritime Holdings Corp.)

Normal rate of interest. Subject to the provisions of this Agreement, the rate of interest on each Advance Tranche or, as the case may be, the Loan in respect of an Interest Period relative to that Advance shall be the aggregate of (i) the Margin, (ii) the Mandatory Cost (if any), (iii) LIBOR for that Interest Period and (iv) if a Lender (the "Applicable Lender") notifies the Agent at least 5 1 Business Days Day before the start of that Interest Period that its Cost of Funding exceeds LIBOR (including the amount of such excess) on the Quotation Date for that Interest Period, additionally in respect of that Applicable Lender’s Contribution in the relevant Advance's Contribution, the LIBOR Correction Rate applicable to the that Applicable Lender for that Interest Period.

Appears in 1 contract

Samples: Loan Agreement (Star Bulk Management Inc.)

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