Reconventioning. After consultation with the Borrowers and the Lenders and notwithstanding clause 16.11, the Agent shall be entitled to make such amendments to this Agreement as it may determine to be necessary to take account of any changes in market practices as a consequence of the European Monetary Union (whether as to the settlement or rounding of obligations, business days, the calculation of interest or otherwise whatsoever). So far as possible such amendments shall be such as to put the parties in the same position as if the event or events giving rise to the need to amend this Agreement had not occurred. Any amendment so made to this Agreement by the Agent shall be promptly notified to the other parties hereto and shall be binding on all parties hereto.
Reconventioning. After consultation between the Agent, the Borrower and the Lenders and notwithstanding clause 25.11 the Agent (acting reasonably) shall be entitled to make such amendments to the provisions of this Agreement as it may determine to be necessary to conform them to market practices (whether as to the settlement or rounding of obligations, the calculation of interest or otherwise howsoever) then applicable to instruments denominated in euro. Any amendment so made to this Agreement by the Agent shall be promptly notified to the other Finance Parties and the Obligors by the Agent and shall be binding on all the Finance Parties and the Obligors.
Reconventioning after consultation with the borrower the lender shall be entitled to make such amendments to this agreement as it may determine to be necessary to take account of any changes in market practices as a consequence of the european monetary union (whether as to the settlement or rounding of obligations, business days, the calculation of interest or otherwise whatsoever), so far as possible such amendments shall be such as to put the parties in the same position as if the event or events giving rise the need to amend this agreement had not occurred, any amendment so made to this agreement by the lender shall be promptly notified to the other parties hereto and shall be binding on all parties hereto Schedule 1 Form of Drawdown Notice To: COMMERZBANK AG Xxxxxxxxxx00 00000 Xxxxxxx Xxxxxxx [—] 2011 Dear Sirs Facility agreement dated 2011 in respect of a loan of up to USD30,250,000 (the “Loan Agreement”) made between BOX SHIPS INC. (as Borrower), (2) COMMERZBANK AG, (as Lender and Security Trustee) and (3) COMMERZBANK AG, (as Swap Bank). We refer to the Loan Agreement. Words and expressions whose meanings are defined therein shall have the same meanings when used herein. We hereby give you notice that we wish to draw the sum of USD [ ] on [date] 2011 in respect of the Loan for payment to the Seller and select a first Interest Period in respect of such drawing of [•] months. The funds should be credited to / / with [ ]. We confirm that:
Reconventioning. After consultation between the Agent, UPCF and the Banks and notwithstanding clause 18.11 the Agent (acting reasonably) shall be entitled to make such amendments to the provisions of this Agreement as it may determine to be necessary to conform them to market practices (whether as to the settlement or rounding of obligations, the calculation of interest or otherwise howsoever) then applicable to instruments denominated in euro. Any amendment so made to this Agreement by the Agent shall be promptly notified to the Banks and the Obligors by the Agent and shall be binding on all the Banks and the Obligors.
