Common use of Shortfalls Clause in Contracts

Shortfalls. In the event that the balance referred to in clause 11.1 is insufficient to pay in full the whole of the Outstanding Indebtedness, the Mortgagee shall be entitled to collect the shortfall from the Owner or any other person liable for the time being therefore.

Appears in 16 contracts

Sources: Quadripartite Deed (Top Tankers Inc.), Quadripartite Deed (Top Tankers Inc.), Quadripartite Deed (Top Tankers Inc.)

Shortfalls. In the event that the balance referred to in clause 11.1 2.3 is insufficient to pay in full the whole of the Outstanding Indebtedness, the Mortgagee shall be entitled to collect the shortfall from the Owner or any other person liable for the time being thereforetherefor.

Appears in 11 contracts

Sources: Loan Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Quintana Shipping Ltd.), Loan Agreement (Quintana Shipping Ltd.)

Shortfalls. In the event that the balance referred to in clause 11.1 9.1 is insufficient to pay in full the whole of the Outstanding Indebtedness, the Mortgagee or the Receiver, as the case may be, shall be entitled to collect the shortfall from the Owner or any other person liable for the time being thereforetherefor.

Appears in 4 contracts

Sources: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)

Shortfalls. In the event that the balance referred to in clause 11.1 8.1 is insufficient to pay in full the whole of the Outstanding Indebtedness, the Mortgagee or the Receiver, as the case may be, shall be entitled to collect the shortfall from the Owner or any other person liable for the time being thereforetherefor.

Appears in 3 contracts

Sources: Supplemental Agreement (Diana Shipping Inc.), Loan Agreement (DryShips Inc.), Loan Agreement (Capital Maritime & Trading Corp.)

Shortfalls. In the event that the balance referred to in clause 11.1 8.1 of the Deed of Covenant is insufficient to pay in full the whole of the Outstanding Indebtedness, the Mortgagee shall be entitled to collect the shortfall from the Owner or any other person liable for the time being thereforetherefor.

Appears in 2 contracts

Sources: Loan Agreement (DryShips Inc.), Supplemental Agreement (DryShips Inc.)

Shortfalls. In the event that the balance referred to in clause 11.1 7.1 (Application) is insufficient to pay in full the whole of the Outstanding Indebtedness, the Mortgagee shall be entitled to collect the shortfall from the Owner or any other person liable for the time being thereforetherefor.

Appears in 1 contract

Sources: On Delivery Buyer Credit Facility Agreement (DryShips Inc.)

Shortfalls. In the event that the balance referred to in clause 11.1 2.3 is insufficient to pay in full the whole of the Outstanding Indebtedness, the Mortgagee shall be entitled to collect the shortfall from the Owner or any other person liable for the time being therefore.

Appears in 1 contract

Sources: Loan Agreement (Safe Bulkers, Inc.)

Shortfalls. In the event that the balance referred to in clause 11.1 8.1 (Application) is insufficient to pay in full the whole of the Outstanding Indebtedness, the Mortgagee or the Receiver, as the case may be, shall be entitled to collect the shortfall from the Owner or any other person liable for the time being thereforetherefor.

Appears in 1 contract

Sources: On Delivery Buyer Credit Facility Agreement (DryShips Inc.)

Shortfalls. In the event that the balance referred to in clause 11.1 9.1 is insufficient to pay in full the whole of the Outstanding Indebtedness, the Mortgagee or the Receiver, as the case may be, shall be entitled to collect the shortfall from the Owner or any other person liable for the time being therefore.

Appears in 1 contract

Sources: Loan Agreement (Safe Bulkers, Inc.)

Shortfalls. In the event that the balance referred to in clause 11.1 2.3 of the General Assignment is insufficient to pay in full the whole of the Outstanding Indebtedness, the Mortgagee shall be entitled to collect the shortfall from the Owner or any other person liable for the time being thereforetherefor.

Appears in 1 contract

Sources: Loan Agreement (Quintana Shipping Ltd.)

Shortfalls. In the event that the balance referred to in clause 11.1 9.1 is insufficient to pay in full the whole who e of the Outstanding Indebtedness, the Mortgagee or the Receiver, as the case may be, shall be entitled to collect the shortfall from the Owner or any other person liable for the time being thereforetherefor.

Appears in 1 contract

Sources: Loan Agreement (Safe Bulkers, Inc.)

Shortfalls. In the event that the balance referred to in clause 11.1 13.1 is insufficient to pay in full the whole of the Outstanding Indebtedness and/or the Charterer's Guarantee Indebtedness, the Mortgagee Mortgagee, as the case may be, shall be entitled to collect the shortfall from the Owner or, as the case may be, the Charterer or any other person liable for the time being thereforetherefor.

Appears in 1 contract

Sources: Second Supplemental Agreement (Aegean Marine Petroleum Network Inc.)