Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan if the Ship is sold or becomes a Total Loss:
Appears in 7 contracts
Samples: Loan Agreement (Diana Shipping Inc.), Loan Agreement (Box Ships Inc.), Loan Agreement (TBS International LTD)
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan Relevant Amount if the a Ship is sold or becomes a Total Loss:
Appears in 7 contracts
Samples: Loan Agreement, Loan Agreement, Loan Agreement (Box Ships Inc.)
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay the whole of the Loan Relevant Amount if the Ship is sold or becomes a Total LossShip:
Appears in 7 contracts
Samples: Loan Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Containers L.P.)
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay the whole of the Loan Relevant Amount if the a Ship is sold or becomes a Total Loss:
Appears in 5 contracts
Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Pyxis Tankers Inc.)
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay the whole relevant proportion of the Loan if the a Ship is sold or becomes a Total Loss:
Appears in 5 contracts
Samples: Loan Agreement, Agreement (Dynagas LNG Partners LP), Loan Agreement (Dynagas LNG Partners LP)
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay the whole relevant proportion of the Loan if the a Ship is sold or becomes a Total Loss:
Appears in 4 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay the whole of the Loan Relevant Amount (subject to Clauses 8.9 and 8.12) if the a Ship is sold (including, without limitation, if it is sold for scrap) or becomes a Total Loss:
Appears in 4 contracts
Samples: Loan Agreement, Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Global Ship Lease, Inc.)
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan if the If a Ship is sold or becomes a Total Loss, the Borrowers shall prepay in full the Advance related to that Ship:
Appears in 4 contracts
Samples: Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.), Loan Agreement (Pangaea Logistics Solutions Ltd.)
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay the whole of the Loan Relevant Amount if the a Ship is sold or becomes a Total Loss:
Appears in 3 contracts
Samples: Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.)
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay the whole Relevant Fraction of the Loan if the a Ship is sold or becomes a Total Loss:
Appears in 3 contracts
Samples: Loan Agreement (DryShips Inc.), Loan Agreement (Oceanfreight Inc.), Loan Agreement (DryShips Inc.)
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay the whole of the Loan Relevant Amount if the a Ship is sold or refinanced by another bank or financial institution or becomes a Total Loss:
Appears in 3 contracts
Samples: Loan Agreement (Box Ships Inc.), Loan Agreement (Star Bulk Management Inc.), Loan Agreement (Box Ships Inc.)
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan if the Ship is sold or becomes a Total Loss:
Appears in 3 contracts
Samples: Agreement (Paragon Shipping Inc.), Loan Agreement (Box Ships Inc.), Loan Agreement (Box Ships Inc.)
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan if the Ship is sold or becomes a Total Loss:
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Capital Product Partners L.P.)
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan if the If a Ship is sold or becomes a Total Loss, the Borrowers shall prepay the Loan in an amount equal to the net sale or insurances proceeds (as the case may be) received for such Ship:
Appears in 2 contracts
Samples: Loan Agreement (TBS International LTD), Loan Agreement (TBS International LTD)
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan if the Collateral Ship is sold or becomes a Total Loss:
Appears in 2 contracts
Samples: Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan relevant amount if the a Ship is sold or becomes a Total Loss:
Appears in 2 contracts
Samples: Loan Agreement (Britannia Bulk Holdings Inc), Loan Agreement (Britannia Bulk PLC)
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan Relevant Amount if the a Ship is sold or becomes a Total Loss:
Appears in 2 contracts
Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay the whole of the Loan Relevant Amount if the either Ship is sold or becomes a Total Loss:
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Navios Maritime Partners L.P.)
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan if the If a Ship is sold or becomes a Total LossLoss the Borrowers shall be obliged to prepay the Relevant Tranche:
Appears in 2 contracts
Samples: Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)
Mandatory Prepayment. (a) The Borrower Borrowers shall be obliged to prepay the whole of the Loan Relevant Amount if the Ship is sold or becomes a Total LossShip:
Appears in 1 contract
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan if If the Ship is sold or becomes a Total Loss, the Borrower shall prepay in full the Advance:
Appears in 1 contract
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay (1) the whole of the Loan Total Amount if the an Original Ship is sold or becomes a Total LossLoss during the Waiver Period or (2) the Relevant Fraction of the Loan if an Original Ship is sold or becomes a Total Loss at any other time:
Appears in 1 contract
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay the whole of the Loan Relevant Amount if the a Ship is sold (including, without limitation, if it is sold for scrap) or refinanced by another bank or financial institution or becomes a Total Loss:
Appears in 1 contract
Samples: Loan Agreement (Box Ships Inc.)
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan if the (a) If a Ship is sold or becomes a Total Loss, the Borrower shall prepay an amount that is the higher of:
Appears in 1 contract
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay the whole of the Loan Required Amount in full if the a Ship is sold (which sale shall be subject to the prior written consent of the Lenders), refinanced by another bank or financial institution or becomes a Total Loss:
Appears in 1 contract
Samples: Loan Agreement (EuroDry Ltd.)
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay the whole of the Loan Relevant Amount (subject to Clauses 8.9, 8.12 and, if the applicable, 8.13) if a Ship is sold (including, without limitation, if it is sold for scrap) or refinanced by another bank or financial institution or becomes a Total Loss:
Appears in 1 contract
Samples: Loan Agreement (Poseidon Containers Holdings Corp.)
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan if If the Ship is sold or becomes a Total Loss, the Borrower shall prepay the Loan in full:
Appears in 1 contract
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan in full if the Ship is sold or becomes a Total Loss:
Appears in 1 contract
Samples: Loan Agreement (DryShips Inc.)
Mandatory Prepayment. The If a Ship is sold or becomes a Total Loss the Borrower shall be obliged to prepay the whole Relevant Amount of the Loan if the Ship is sold or becomes a Total LossLoan:
Appears in 1 contract
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole Relevant Proportion of the Loan if the a Ship is sold or becomes a Total Loss:
Appears in 1 contract
Samples: Agreement (Star Bulk Carriers Corp.)
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole of the Loan if the (a) If a Ship is sold or becomes a Total Loss, the Borrower shall prepay an amount that is the higher of:
Appears in 1 contract
Samples: Second Lien Loan Agreement (Eagle Bulk Shipping Inc.)
Mandatory Prepayment. The Borrower Borrowers shall be obliged to prepay (I) the whole of the Loan Relevant Amount if the an Original Ship is sold or becomes a Total LossLoss during the Waiver Period or (2) the Relevant Fraction of the Loan if an Original Ship is sold or becomes a Total Loss at any other time:
Appears in 1 contract
Mandatory Prepayment. The Borrower shall be obliged to prepay the whole relevant proportion of the Loan if the a Ship is sold or becomes a Total Loss:Loss or the Mortgage on that Ship is discharged pursuant to Clause 9.8(c):
Appears in 1 contract
