Principal Debtor. Each Borrower declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no Borrower shall, in any circumstances, be construed to be a surety for the obligations of any other Borrower under this Agreement.
Appears in 41 contracts
Sources: Facility Agreement (Euroseas Ltd.), Facility Agreement (Seanergy Maritime Holdings Corp.), Facility Agreement (Okeanis Eco Tankers Corp.)
Principal Debtor. Each Borrower declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no neither Borrower shall, in any circumstances, be construed to be a surety for the obligations of any the other Borrower under this Agreement.
Appears in 6 contracts
Sources: Term and Accordion Facilities Agreement (Ardmore Shipping Corp), Term Loan Facility (Castor Maritime Inc.), Term, Revolving and Accordion Facilities Agreement (Ardmore Shipping Corp)
Principal Debtor. Each Borrower declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no Borrower shall, in any circumstances, be construed to be a surety for the obligations of any the other Borrower under this Agreement.
Appears in 5 contracts
Sources: Term Loan Facility (Navios Maritime Partners L.P.), Term Loan Facility (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Principal Debtor. Each Borrower declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no Borrower shall, none of the Borrowers shall in any circumstances, circumstances be construed to be a surety for the obligations of any the other Borrower under this Agreement.
Appears in 2 contracts
Sources: Loan Agreement (Performance Shipping Inc.), Loan Agreement (Imperial Petroleum Inc./Marshall Islands)
Principal Debtor. Each Borrower declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no 52 EUROPE/80414857v4 Borrower shall, in any circumstances, be construed to be a surety for the obligations of any other Borrower under this Agreement.
Appears in 1 contract
Principal Debtor. Each Borrower declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no Borrower shall, in any circumstances, be construed to be a surety for the obligations of any other Borrower under this Agreement.
Appears in 1 contract
Principal Debtor. Each Borrower declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no 54 EUROPE/79885433v3 Borrower shall, in any circumstances, be construed to be a surety for the obligations of any other Borrower under this Agreement.
Appears in 1 contract
Principal Debtor. Each Borrower declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no Borrower shall, none of the Borrowers shall in any circumstances, circumstances be construed to be a surety for the obligations of any the other Borrower Borrower(s) under this Agreement.
Appears in 1 contract
Principal Debtor. Each Borrower declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no 66 EUROPE/78937797v7 Borrower shall, in any circumstances, be construed to be a surety for the obligations of any other Borrower under this Agreement.
Appears in 1 contract
Principal Debtor. Each Borrower declares that it is and will, throughout the Security Periodlifetime of the Facility, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no Borrower shall, in any circumstances, be construed to be a surety for the obligations of any the other Borrower under this Agreement.
Appears in 1 contract
Principal Debtor. Each Borrower declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no Borrower shall, neither of the Borrowers shall in any circumstances, circumstances be construed to be a surety for the obligations of any the other Borrower under this Agreement.
Appears in 1 contract
Sources: Loan Agreement (Pyxis Tankers Inc.)