Common use of Payment of accrued default interest Clause in Contracts

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.

Appears in 156 contracts

Samples: Loan Agreement (Global Ship Lease, Inc.), Agreement (Navios Maritime Partners L.P.), Agreement (Capital Product Partners L.P.)

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Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.

Appears in 70 contracts

Samples: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Performance Shipping Inc.), Loan Agreement (Seanergy Maritime Holdings Corp.)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Facility Agent for the account of the Creditor Party to which the overdue amount is due.

Appears in 6 contracts

Samples: Loan Agreement (Capital Product Partners L.P.), Loan Agreement, Loan Agreement (Capital Product Partners L.P.)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; determined and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.

Appears in 4 contracts

Samples: Loan Agreement (Danaos Corp), Loan Agreement (DryShips Inc.), Loan and Guarantee Facility Agreement (DryShips Inc.)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent Lender for the account of if the Creditor Party Lender to which the overdue amount is due.

Appears in 4 contracts

Samples: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Pyxis Tankers Inc.), Agreement (NewLead Holdings Ltd.)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause 7 shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.

Appears in 4 contracts

Samples: Agreement (NewLead Holdings Ltd.), Agreement (NewLead Holdings Ltd.), Loan Agreement (Tsakos Energy Navigation LTD)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period Interest Period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.

Appears in 3 contracts

Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Castor Maritime Inc.)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due. Compounding of default interest Any such interest which is not paid at the end of the period by reference to which it was determined shall thereupon be compounded.

Appears in 3 contracts

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

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause 6 shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.

Appears in 3 contracts

Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (Tsakos Energy Navigation LTD), Loan Agreement (Tsakos Energy Navigation LTD)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause 8 shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.

Appears in 2 contracts

Samples: Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due. Compounding of default interest Any such interest which is not paid shall be compounded at the end of the relevant interest period.

Appears in 2 contracts

Samples: Loan Agreement (Product Shipping Ltd.), Loan Agreement (Product Shipping Ltd.)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period Interest Period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.

Appears in 2 contracts

Samples: Loan Agreement (Cool Co Ltd.), Loan Agreement (Cool Co Ltd.)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause 8 shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Paying Agent for the account of the Creditor Party to which the overdue amount is due.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause Clause: (a) shall be paid on the last day of the period by reference to which it was determined; and , (b) the payment shall 48 β€Œ be made to the Agent for the account of the Creditor Party to which the overdue amount is due, and (c) it shall be immediately payable by the Borrower on demand by the Agent.

Appears in 1 contract

Samples: Loan Agreement (Dorian LPG Ltd.)

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Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.. 2

Appears in 1 contract

Samples: Purchase, Sale and Contribution Agreement

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the Agent's demand but also in any event, on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.

Appears in 1 contract

Samples: Loan Agreement (Top Ships Inc.)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Security Agent for the account of the Creditor Party to which the overdue amount is due.

Appears in 1 contract

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

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause 4.5 shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due.

Appears in 1 contract

Samples: Loan Agreement (GasLog Partners LP)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on (i) the last day of the period by reference to which it was determined; determined and (ii) the payment shall be made to the Agent for the account date on which any principal amount in respect of the Creditor Party to which the overdue amount it is dueaccruing is paid.

Appears in 1 contract

Samples: Loan Agreement (Omega Navigation Enterprises, Inc.)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause Clause: (a) shall be paid on the last day of the period by reference to which it was determined; and , (b) the payment shall be made to the Agent for the account of the Creditor Party to which the overdue amount is due, and (c) it shall be immediately payable by the Borrower on demand by the Agent.

Appears in 1 contract

Samples: Loan Agreement (Dorian LPG Ltd.)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause Section 7 shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Administrative Agent for the account of the Creditor Finance Party to which the overdue amount is due.

Appears in 1 contract

Samples: Management Agreement (Pacific Drilling S.A.)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; and the payment shall be made to the Agent Security Trustee for the account of the Creditor Party to which the overdue amount is due.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

Payment of accrued default interest. Subject to the other provisions of this Agreement, any interest due under this Clause shall be paid on the last day of the period by reference to which it was determined; and the payment . Compounding of default interest Any such interest which is not paid shall be made to compounded at the Agent for the account end of the Creditor Party to which the overdue amount is duerelevant interest period.

Appears in 1 contract

Samples: Loan Agreement (Product Shipping Ltd.)

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