Common use of Unwinding of Designated Transactions Clause in Contracts

Unwinding of Designated Transactions. On or prior to any repayment or prepayment of all or part of the Loan (including, without limitation, pursuant to clauses 4.2, 4.3 or 8.2.1), the Borrowers shall upon the request of the Swap Provider wholly or partially reverse, offset, unwind, cancel, close out, net out or otherwise terminate one or more of the continuing Designated Transactions so that the notional principal amount of the continuing Designated Transactions thereafter remaining does not and will not in the future (taking into account the scheduled amortisation) exceed the amount of the Loan as reducing from time to time thereafter pursuant to clause 4.1.

Appears in 3 contracts

Samples: Loan Agreement (Poseidon Containers Holdings Corp.), Agreement (DryShips Inc.), Agreement (Diana Containerships Inc.)

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Unwinding of Designated Transactions. On or prior to any repayment or prepayment of all or part of the Loan (including, without limitation, pursuant to clauses 4.2, 4.3 or 8.2.1), the Borrowers shall upon the request of the Swap Provider wholly or partially reverse, offset, unwind, cancel, close out, net out or otherwise terminate one or more of the continuing Designated Transactions so that the notional principal amount of the continuing Designated Transactions thereafter remaining does not and will not in the future (taking into account the scheduled amortisation) exceed the aggregate amount of the Loan Advances as reducing from time to time thereafter pursuant to clause 4.1.

Appears in 3 contracts

Samples: Master Swap Agreement (Quintana Shipping Ltd.), Supplemental Agreement (Quintana Shipping Ltd.), Supplemental Agreement (Quintana Shipping Ltd.)

Unwinding of Designated Transactions. On or prior to any repayment or prepayment of all or part of the Loan (including, without limitation, pursuant to clauses 4.2, 4.3 4.3, 4.4 or 8.2.18.2.1(a) or any other provision of this Agreement), the Borrowers shall Borrower shall, upon the request of the Swap Provider Bank wholly or partially reverse, offset, unwind, cancel, close out, net out or otherwise terminate one or more of the continuing Designated Transactions so that the notional principal amount of the continuing Designated Transactions thereafter remaining does not not, and will not in the future (taking into account the scheduled amortisation) future, exceed the amount of the Loan as may be reducing from time to time thereafter pursuant to clause 4.1thereafter.

Appears in 2 contracts

Samples: Loan Agreement (Globus Maritime LTD), Agreement (FreeSeas Inc.)

Unwinding of Designated Transactions. On or prior to any repayment or prepayment of all or part of the Loan (including, without limitation, pursuant to clauses 4.2, 4.3 4.3. 4.4 or 8.2.18.2.1(a) or any other provision of this Agreement), the Borrowers shall Borrower shall, upon the request of the Swap Provider Bank wholly or partially reverse, offset, unwind, cancel, close out, net out or otherwise terminate one or more of the continuing Designated Transactions so that the notional principal amount of the continuing Designated Transactions thereafter remaining does not not, and will not in the future (taking into account the scheduled amortisation) future, exceed the amount of the Loan as may be reducing from time to time thereafter pursuant to clause 4.1thereafter.

Appears in 1 contract

Samples: Loan Agreement (FreeSeas Inc.)

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Unwinding of Designated Transactions. On or prior to any repayment or prepayment of all or part of the Loan (including, without limitation, pursuant to clauses 4.2, 4.3 4.3, 4.4, 8.2.1(a), 8.4 or 8.2.18.5 or any other provision of this Agreement), the Borrowers shall Borrower shall, upon the request of the Swap Provider Bank wholly or partially reverse, offset, unwind, cancel, close out, net out or otherwise terminate one or more of the continuing Designated Transactions so that the notional principal amount of the continuing Designated Transactions thereafter remaining does not not, and will not in the future (taking into account the scheduled amortisation) future, exceed the amount of the Loan as may be reducing from time to time thereafter pursuant to clause 4.1thereafter.

Appears in 1 contract

Samples: Facility Agreement (Freeseas Inc.)

Unwinding of Designated Transactions. On or prior to any repayment or prepayment of all or part of the Loan (including, without limitation, pursuant to clauses 4.2, 4.3 4.3, 4.4 or 8.2.1), the Borrowers shall upon the request of the Swap Provider wholly or partially reverse, offset, unwind, cancel, close out, net out or otherwise terminate one or more of the continuing Designated Transactions so that the notional principal amount of the continuing Designated Transactions thereafter remaining does not and will not in the future (taking into account the scheduled amortisation) exceed the amount of the Loan as reducing from time to time thereafter pursuant to clause 4.1.

Appears in 1 contract

Samples: Agreement (DryShips Inc.)

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