Valuations binding. Any valuation under Clause 14.1(i), 14.4 or 14.5 shall be binding and conclusive as regards the Borrower and the Ship, as shall be any valuation which the Lender makes of a security which does not consist of or include a Security Interest.
Appears in 2 contracts
Sources: Loan Agreement (NewLead Holdings Ltd.), Loan Agreement (NewLead Holdings Ltd.)
Valuations binding. Any valuation under Clause 14.1(i15.2 (Prepayment; provision of additional security), 14.4 15.3 (Valuation of Ships) or 14.5 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower and the Ship, as shall be any valuation which the Lender makes of a any additional security which does not consist of or include a Security Interest.
Appears in 2 contracts
Sources: Loan Agreement (Toro Corp.), Loan Agreement (Castor Maritime Inc.)
Valuations binding. Any valuation under Clause 14.1(i15.2 (Prepayment; provision of additional security), 14.4 15.3 (Valuation of Ships) or 14.5 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower and the ShipBorrower, as shall be any valuation which the Lender makes Majority Lenders make of a any additional security which does not consist of or include a Security Interest.
Appears in 2 contracts
Sources: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Partners L.P.)
Valuations binding. Any valuation under Clause 14.1(i15.2 (Provision of additional security; prepayment), 14.4 15.3 (Valuation of Ship) or 14.5 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower and the ShipBorrower, as shall be any valuation which the Lender makes Majority Lenders make of a any additional security which does not consist of or include a Security Interest.
Appears in 2 contracts
Sources: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Valuations binding. Any valuation under Clause 14.1(i15.2 (Prepayment; provision of additional security), 14.4 15.3 (Valuation of Ships ) or 14.5 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower and the ShipBorrower, as shall be any valuation which the Lender makes Majority Lenders make of a any additional security which does not consist of or include a Security Interest.
Appears in 1 contract
Valuations binding. Any valuation under Clause 14.1(i15.2 (Provision of additional security; prepayment), 14.4 15.4 (Valuation of Ship) or 14.5 15.5 (Value of additional security) shall be binding and conclusive as regards the Borrower and the Ship60 EUROPE/79618310v6 Borrowers, as shall be any valuation which the Lender makes Majority Lenders make of a security which does not consist of or include a Security Interest.
Appears in 1 contract
Valuations binding. Any valuation under Clause 14.1(iClauses 15.2 (Provision of additional security; prepayment), 14.4 15.3 (Valuation of the Ships) or 14.5 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower and the ShipBorrowers, as shall be any valuation which the Lender makes Majority Lenders make of a any additional security which does not consist of or include a Security Interest.
Appears in 1 contract
Valuations binding. Any valuation Valuation under Clause 14.1(iClauses 15.2 (Provision of additional security; prepayment), 14.4 15.3 (Valuation of Ship) or 14.5 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower and the ShipBorrower, as shall be any valuation which the Lender makes Majority Lenders make of a any additional security which does not consist of or include a Security Interest.
Appears in 1 contract
Valuations binding. Any valuation under Clause 14.1(i15.2 (Prepayment; provision of additional security), 14.4 15.3 (Valuation of Ships) or 14.5 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower and the ShipBorrowers, as shall be any valuation which the Lender makes Majority Lenders make of a any additional security which does not consist of or include a Security Interest.
Appears in 1 contract
Valuations binding. Any valuation under Clause 14.1(i15.2 (Provision of additional security; prepayment), 14.4 15.3 (Valuation of Ship) or 14.5 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower and the ShipBorrowers, as shall be any valuation which the Lender makes Majority Lenders make of a any additional security which does not consist of or include a Security Interest.
Appears in 1 contract
Sources: Term Loan Facility Agreement (Navios Maritime Partners L.P.)
Valuations binding. Any valuation under Clause 14.1(i15.2 (Prepayment; provision of additional security), 14.4 15.3 (Valuation of Ship) or 14.5 15.4 (Value of additional vessel security) shall (absent manifest error) be binding and conclusive as regards the Borrower and the ShipBorrower, as shall be any valuation which the Lender makes Majority Lenders make of a any additional security which does not consist of or include a Security Interest.
Appears in 1 contract
Sources: Loan Agreement (EuroDry Ltd.)
Valuations binding. Any valuation under Clause 14.1(i15.2 (Provision of additional security; prepayment), 14.4 15.3 (Valuation of Ships) or 14.5 15.4 (Value of additional vessel security) shall be binding and conclusive as regards the Borrower Borrowers and the ShipLenders, as shall be any valuation which the Lender makes Majority Lenders make of a any additional security which does not consist of or include a Security InterestInterest over a vessel.
Appears in 1 contract
Sources: Loan Agreement (Euronav NV)