Common use of Prepayment; termination of Commitment Clause in Contracts

Prepayment; termination of Commitment. A notice under Clause 23.3 shall be irrevocable; and on the date specified in the Borrower’s notice of intended prepayment, the Borrower shall prepay (without premium or penalty) the Loan together with accrued interest thereon at the applicable rate plus the Margin.

Appears in 3 contracts

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

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Prepayment; termination of Commitment. A notice under Clause 23.3 3.6(e) shall be irrevocable; and on the date specified in last Banking Day of the Borrower’s notice of intended prepaymentinterest period set by the Bank, the Borrower shall prepay (without premium or penalty) the Loan Loan, together with accrued interest thereon at the applicable rate plus the MarginMargin and the balance of the Outstanding Indebtedness.

Appears in 2 contracts

Samples: Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (NewLead Holdings Ltd.)

Prepayment; termination of Commitment. A notice under Clause 23.3 3.6(e) shall be irrevocable; and on the date specified in last Banking Day of the Borrower’s notice of intended prepaymentinterest period set by the Lender, the Borrower shall prepay (without premium or penalty) the Loan Loan, together with accrued interest thereon at the applicable rate plus the MarginMargin and the balance of the Outstanding Indebtedness.

Appears in 2 contracts

Samples: Seanergy Maritime Holdings Corp., Seanergy Maritime Holdings Corp.

Prepayment; termination of Commitment. A notice under Clause 23.3 24.4 shall be irrevocable; and on the date specified in the Borrower’s its notice of intended prepayment, the Commitment shall terminate and the Borrower shall prepay (without premium or penalty) the Loan Facility, together with accrued interest thereon at the applicable rate plus the Mandatory Cost Rate plus the Margin.

Appears in 2 contracts

Samples: Facility Agreement (Gala Properties Inc.), Loan Agreement (Diana Shipping Inc.)

Prepayment; termination of Commitment. A notice under Clause 23.3 23.4 shall be irrevocable; and on the date specified in the Borrower’s notice of intended prepayment, the Commitment shall be cancelled and the Borrower shall prepay (without premium or penaltypenalty but, in any event, including any increased costs) the Loan Loan, together with accrued interest thereon at the applicable rate plus the Margin.

Appears in 2 contracts

Samples: Loan Agreement (Box Ships Inc.), Loan Agreement (Box Ships Inc.)

Prepayment; termination of Commitment. A notice under Clause 23.3 23.4 shall be irrevocable; and on the date specified in the Borrower’s 's notice of intended prepayment, the Commitment shall be cancelled and the Borrower shall prepay (without premium or penaltypenalty but, in any event, including any increased costs) the Loan Loan, together with accrued interest thereon at the applicable rate plus the Margin.

Appears in 2 contracts

Samples: Loan Agreement (Box Ships Inc.), Agreement (Paragon Shipping Inc.)

Prepayment; termination of Commitment. A notice under Clause 23.3 shall be irrevocable; and on the date specified in the Borrower’s 's notice of intended prepayment, the Commitment shall be cancelled and the Borrower shall prepay (without premium or penaltypenalty but, in any event, including any increased costs) the Loan together with accrued interest thereon at the applicable rate plus the Margin.

Appears in 1 contract

Samples: Loan Agreement (Paragon Shipping Inc.)

Prepayment; termination of Commitment. A notice under Clause 23.3 3.8 (Notice of prepayment) shall be irrevocable; and on the date specified in last Banking Day of the Borrower’s notice of intended prepayment, interest period set by the Borrower Lender the Borrowers shall prepay (without premium or penalty) the Loan Loan, together with accrued interest thereon at the applicable rate plus the MarginMargin and the balance of all other amounts payable under this Agreement and the other Security Documents or, if the Commitment has not been advanced, the Commitment shall be reduced to zero and the Loan shall not be made to the Borrowers under this Agreement thereafter.

Appears in 1 contract

Samples: Agreement (EuroDry Ltd.)

Prepayment; termination of Commitment. A notice under Clause 23.3 shall be irrevocable; and on the date specified in the Borrower’s notice of intended prepayment, the Commitment shall be cancelled and the Borrower shall prepay (without premium or penalty) the Loan together with accrued interest thereon at the applicable rate plus the there relevant Margin.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

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Prepayment; termination of Commitment. A notice under Clause 23.3 22.3 shall be irrevocable; and on the date specified in the Borrower’s its notice of intended prepayment, the Borrower shall prepay (without premium or penaltypenalties) the Loan together with accrued interest thereon at the applicable rate plus the Margin.

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

Prepayment; termination of Commitment. A notice under Clause 23.3 23.4 shall be irrevocable; and on the date specified in the Borrower’s notice of intended prepayment, the Commitment shall be cancelled and the Borrower shall prepay (without premium or penaltypenalty but, in any event, including any increased costs) the Loan Loan, together with accrued interest thereon at the applicable rate plus the applicable Margin.

Appears in 1 contract

Samples: Loan Agreement (Box Ships Inc.)

Prepayment; termination of Commitment. A notice under Clause 23.3 shall be irrevocable; irrevocable and on the date specified in the Borrower’s its notice of intended prepayment, the Borrower Borrowers shall prepay (without premium or penalty) the Loan Loan, together with accrued interest thereon at the applicable rate plus the Marginapplicable Margin plus the Mandatory Costs (if any).

Appears in 1 contract

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

Prepayment; termination of Commitment. A notice under Clause 23.3 3.6(f) (Notice of prepayment) shall be irrevocable; and on or before the date specified in last Banking Day of the Borrower’s notice of intended prepaymentinterest period set by the Lender, the Borrower shall prepay (without premium or penalty) the Loan Loan, together with accrued interest thereon at the applicable interest rate plus the MarginMargin and the balance of the Outstanding Indebtedness.

Appears in 1 contract

Samples: Agreement (Pangaea Logistics Solutions Ltd.)

Prepayment; termination of Commitment. A notice under Clause 23.3 clause 12.2.4 shall be irrevocable; and on the date specified in the Borrower’s notice of intended prepayment, the Borrower shall prepay (without premium or penalty) the Loan together with accrued interest thereon at the applicable rate plus the Margin.

Appears in 1 contract

Samples: Loan Agreement (Danaos Corp)

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