Common use of Provision of additional security; prepayment Clause in Contracts

Provision of additional security; prepayment. If the Lender serves a notice on the Borrower under Clause 14.1, the Borrower shall prepay such part (at least) of the Loan as will eliminate the shortfall on or before the date falling 20 Business Days after the date on which the Lender’s notice is served under Clause 14.1 (the “Prepayment Date”) unless at least 1 Business Day before the Prepayment Date it has provided, or ensured that a third party has provided, additional security which, in the opinion of the Lender, has a net realisable value at least equal to the shortfall and which has been documented in such terms as the Lender may approve or require.

Appears in 2 contracts

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

AutoNDA by SimpleDocs

Provision of additional security; prepayment. If the Lender serves a notice on the Borrower under Clause 14.1, the Borrower shall prepay such part (at least) of the Loan as will eliminate the shortfall on or before the date falling 20 14 Business Days after the date on which the Lender’s notice is served under Clause 14.1 (the “Prepayment Date”) unless at least 1 I Business Day before the Prepayment Date it has provided, or ensured that a third party has provided, additional security which, in the opinion of the Lender, has a net realisable value at least equal to the shortfall and which has been documented in such terms as the Lender may approve or require.

Appears in 1 contract

Samples: Loan Agreement (Box Ships Inc.)

Provision of additional security; prepayment. If the Lender serves a notice on the Borrower under Clause 14.1, the Borrower shall prepay such part (at least) of the Loan as will eliminate the shortfall on or before the date falling 20 Business Days 1 month after the date on which the Lender’s notice is served under Clause 14.1 (the “Prepayment Date”) unless at least 1 Business Day before the Prepayment Date it has provided, or ensured that a third party has provided, additional security which, in the opinion of the Lender, has a net realisable value at least equal to the shortfall and which has been documented in such terms as the Lender may approve or require.

Appears in 1 contract

Samples: Loan Agreement (Star Bulk Carriers Corp.)

Provision of additional security; prepayment. If the Lender serves a notice on the Borrower Borrowers under Clause 14.1, the Borrower Borrowers shall prepay such part (at least) of the Loan as will eliminate the shortfall on or before the date falling 20 Business Days 30 days after the date on which the Lender’s notice is served under Clause 14.1 (the “Prepayment Date”) unless at least 1 Business Day before the Prepayment Date it has provided, or ensured that a third party has provided, additional security which, in the opinion of the Lender, has a net realisable value at least equal to the shortfall and which has been documented in such terms as the Lender may approve or require.

Appears in 1 contract

Samples: Loan Agreement (Quintana Shipping Ltd.)

Provision of additional security; prepayment. If the Lender serves a notice on the Borrower under Clause 14.1, the Borrower shall prepay such part (at least) of the Loan as will eliminate the shortfall on or before the date falling 20 Business Days 30 days after the date on which the Lender’s 's notice is served under Clause 14.1 (the "Prepayment Date") unless at least 1 Business Day before the Prepayment Date it has provided, or ensured that a third party has provided, additional security which, in the opinion of the Lender, has a net realisable value at least equal to the shortfall and which has been documented in such terms as the Lender may approve or require.

Appears in 1 contract

Samples: Loan Agreement (Box Ships Inc.)

Provision of additional security; prepayment. If the Lender serves a notice on the Borrower under Clause 14.1, the Borrower shall prepay (in accordance with Clause 7) such part (at least) of the Loan as will eliminate the shortfall on or before the date falling 20 Business Days 1 month after the date on which the Lender’s 's notice is served under Clause 14.1 (the "Prepayment Date”) "), unless at least 1 10 Business Day Days before the Prepayment Date it has provided, provided or ensured that a Security Party or a third party has provided, additional security which, in the opinion of the Lender, has a net realisable value at least equal to the shortfall and which has been documented in such terms as the Lender may approve or require.

Appears in 1 contract

Samples: Loan Agreement (Diana Shipping Inc.)

Provision of additional security; prepayment. If the Lender serves a notice on the Borrower Borrowers under Clause 14.1, the Borrower Borrowers shall prepay such part (at least) of the Loan or, as the case may be, the relevant Tranche as will eliminate the shortfall on or before the date falling 20 Business Days 1 month after the date on which the Lender’s 's notice is served under Clause 14.1 (the "Prepayment Date”) "), unless at least 1 Business Day before the Prepayment Date it has provided, the Borrowers have provided or ensured that a third party has provided, additional security which, in the opinion of the Lender, has a net realisable value at least equal to the shortfall and which has been documented in such terms as the Lender may approve or require.

Appears in 1 contract

Samples: Agreement (Diana Shipping Inc.)

AutoNDA by SimpleDocs

Provision of additional security; prepayment. If the Lender serves a notice on the Borrower under Clause 14.1, the Borrower shall prepay such part (at least) of the Loan as will eliminate the shortfall on or before the date falling 20 Business Days 14 days after the date on which the Lender’s notice is served under Clause 14.1 (the “Prepayment Date”) unless at least 1 Business Day before the Prepayment Date it has provided, or ensured that a third party has provided, additional security which, in the opinion of the Lender, has a net realisable value at least equal to the shortfall shortfall, which is otherwise acceptable to the Lender and which has been documented in such terms as the Lender may approve or require.

Appears in 1 contract

Samples: Loan Agreement (Poseidon Containers Holdings Corp.)

Provision of additional security; prepayment. If the Lender serves a notice on the Borrower under Clause 14.1, the Borrower shall prepay such part (at least) of the Loan as will eliminate the shortfall on or before the date falling 20 Business Days after the date on which the Lender’s 's notice is served under Clause 14.1 (the "Prepayment Date") unless at least 1 Business Day before the Prepayment Date it has provided, or ensured that a third party has provided, additional security which, in the opinion of the Lender, has a net realisable value at least equal to the shortfall and which has been documented in such terms as the Lender may approve or require.

Appears in 1 contract

Samples: Agreement (Paragon Shipping Inc.)

Provision of additional security; prepayment. If the Lender serves a notice on the Borrower under Clause 14.1, the Borrower shall prepay such part (at least) of the Loan as will eliminate the shortfall on or before the date falling 20 Business Days 1 month after the date on which the Lender’s notice is served under Clause 14.1 (the “Prepayment Date”) unless at least 1 Business Day before the Prepayment Date it has they have provided, or ensured that a third party has provided, additional security which, in the opinion of the Lender, has a net realisable value at least equal to the shortfall and which has been documented in such terms as the Lender may approve or require.

Appears in 1 contract

Samples: Loan Agreement (Product Shipping Ltd.)

Provision of additional security; prepayment. If the Lender serves a notice on the Borrower under Clause 14.1, the Borrower shall prepay such part (at least) of the Loan as will eliminate the shortfall on or before the date falling 20 Business Days 30 days after the date on which the Lender’s notice is served under Clause 14.1 (the “Prepayment Date”) unless at least 1 Business Day before the Prepayment Date it has provided, or ensured that a third party has provided, additional security which, in the opinion of the Lender, has a net realisable value at least equal to the shortfall and which has been documented in such terms as the Lender may approve or require.

Appears in 1 contract

Samples: Loan Agreement (Quintana Shipping Ltd.)

Time is Money Join Law Insider Premium to draft better contracts faster.