Common use of Selection of Interest Periods Clause in Contracts

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve (12) months or such shorter period as the Borrower may select and the Lender may agree.

Appears in 2 contracts

Samples: Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios South American Logistics Inc.)

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Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or six (6) months or, subject to availability, such shorter other period as the Borrower Borrowers may select and the Lender Agent (acting on the instructions of the Majority Lenders) may agree.

Appears in 2 contracts

Samples: Seanergy Maritime Holdings Corp., Seanergy Maritime Holdings Corp.

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third second Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3), six (6), nine (9) or twelve (12) months or or, subject to availability, such shorter other period as the Borrower Borrowers may select and the Lender Agent may agreeagree in its absolute discretion, acting on the instructions of the Majority Banks.

Appears in 2 contracts

Samples: Facility Agreement (Costamare Partners LP), Facility Agreement (Costamare Partners LP)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3), six (6) or twelve (12) months or such shorter other period as the Borrower Borrowers may select and the Lender Agent (acting on the instructions of the Lenders) may agree, and if the Borrowers wishes to specify an Interest Period of more than 12 months, it must give at least 5 Banking Days prior notice thereof.

Appears in 2 contracts

Samples: Agreement (Navios Maritime Holdings Inc.), Navios Maritime Acquisition CORP

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Payment Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3), six (6), nine (9) or twelve (12) months or such shorter other period as the Borrower may select and the Lender Payment Agent (acting on the instructions of the Lenders) may agree, and if the Borrower wishes to specify an Interest Period of more than 12 months, it must give at least 5 Banking Days prior notice thereof.

Appears in 2 contracts

Samples: Agreement (Navios Maritime Partners L.P.), Agreement (Navios Maritime Partners L.P.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3) months, six (6) or twelve (12) months or such shorter other period as the Borrower may select and the Lender may agree.

Appears in 2 contracts

Samples: Agreement (StealthGas Inc.), Agreement (StealthGas Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Payment Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3), six (6) or twelve (12) months or such shorter other period as the Borrower Borrowers may select and the Lender Payment Agent (acting on the instructions of the Lenders) may agree, and if the Borrowers wishes to specify an Interest Period of more than 12 months, it must give at least 5 Banking Days prior notice thereof.

Appears in 2 contracts

Samples: Navios Maritime Acquisition CORP, Navios Maritime Holdings Inc.

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender not later than 10:00 a.m. on the third second Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve one (121), three (3) or six (6) months or such shorter other period as the Borrower may select and the Lender may agree.

Appears in 1 contract

Samples: Agreement (EuroDry Ltd.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months, six (6) months, nine (9) months or such shorter other period as the Borrower Borrowers may select and the Lender may agree.

Appears in 1 contract

Samples: Agreement (NewLead Holdings Ltd.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender not later than 10:00 a.m. on the third second Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve one (121), three (3) or six (6) months or such shorter other period as the Borrower may select and the Lender may agree.

Appears in 1 contract

Samples: Agreement (Euroseas Ltd.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3), six (6) or twelve (12) months or such shorter other longer period as the Borrower Borrowers may select and the Lender Agent (acting on the instructions of the Lenders) may agree, and if the Borrowers wish to specify an Interest Period of more than 12 months, they must give at least 5 Banking Days prior notice thereof.

Appears in 1 contract

Samples: Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or such shorter other period as the Borrower may select and the Lender Agent (acting on the instructions of the Banks) may agree.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or (with the prior agreement of all the Lenders) such shorter other period as the Borrower Borrowers may select and the Lender may Lenders may, in their complete discretion, agree, and if the Borrowers wish to specify an Interest Period of more than 12 months, they must give at least 5 Banking Days prior notice thereof.

Appears in 1 contract

Samples: Navios Maritime Holdings Inc.

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or six (6) months or such shorter other period as the Borrower may select and the Lender Agent (acting on the instructions of the Lenders) may agree.

Appears in 1 contract

Samples: Private and Confidential (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve one (121) month, three (3) months or six (6) months or such shorter other period as the Borrower Borrowers may select and the Lender Agent (acting on the instructions of the Majority Banks) may agree.

Appears in 1 contract

Samples: Agreement (FreeSeas Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Payment Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or such shorter other period as the Borrower may select and the Lender Payment Agent (acting on the instructions of the Lenders) may agree.

Appears in 1 contract

Samples: Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or (with the prior agreement of the Lenders) one (1) month or such shorter other period as the Borrower Borrowers may select and the Lender may Lenders may, in their complete discretion, agree, and if the Borrowers wish to specify an Interest Period of more than 12 months, they must give at least 5 Banking Days prior notice thereof.

Appears in 1 contract

Samples: Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Bank not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve one (121) month, three (3) months or six (6) months or such shorter other period as the Borrower Borrowers may select and the Lender Bank may agree.

Appears in 1 contract

Samples: Junior Loan Agreement (FreeSeas Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months, six (6) months or such shorter other period as the Borrower Borrowers may select and the Lender may Lenders may, in their complete discretion, agree, and if the Borrowers wish to specify an Interest Period of more than 12 months, they must give at least 5 Banking Days prior notice thereof.

Appears in 1 contract

Samples: Agreement (Navios Maritime Acquisition CORP)

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Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123), six (6), nine (9) months or such shorter period as the Borrower may select and the Lender may agree.twelve

Appears in 1 contract

Samples: www.lw.com

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or such shorter other period as the Borrower may select and the Lender Agent (acting on the instructions of the Lenders) may agree.

Appears in 1 contract

Samples: Agreement (Navios Maritime Partners L.P.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Payment Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) or six (6) months or such shorter other period as the Borrower may select and the Lender Payment Agent (acting on the instructions of the Lenders) may agree.

Appears in 1 contract

Samples: Navios Maritime Partners L.P.

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or such shorter other period as the Borrower Borrowers may select and the Lender may Lenders may, in their complete discretion, agree, and if the Borrowers wish to specify an Interest Period of more than 12 months, they must give at least 5 Banking Days prior notice thereof.

Appears in 1 contract

Samples: Navios Maritime Acquisition CORP

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3) months, six (6) months, nine (9) months, twelve (12) months or such shorter other period as the Borrower may select and the Lender Agent (acting on the instructions of the Lenders) may agree.

Appears in 1 contract

Samples: Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of one (1) month, three (3) months, six (6) months, twelve (12) months or such shorter other period as the Borrower may select and the Lender Agent (acting on the instructions of the Lenders) may agreeagree and the Borrower may select no more than three Interest Periods having a duration of one (1) month period in any calendar year.

Appears in 1 contract

Samples: Agreement (Navios Maritime Holdings Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of three (3) months, six (6) months, nine (9) months, twelve (12) months or such shorter other period as the Borrower may select and the Lender Agent (acting on the instructions of the Banks) may agree., and notwithstanding the above the Borrower may select Interest Periods of longer than 12 months, on terms that:

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower may by notice received by the Lender Agent not later than 10:00 a.m. on the third fourth Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or such shorter other period as the Borrower may select and the Lender may Lenders may, in their complete discretion, agree.

Appears in 1 contract

Samples: Navios Maritime Acquisition CORP

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender not later than 10:00 a.m. on the third second Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve one (121), three (3) or six (6) months or such shorter other period as the Borrower Borrowers may select and the Lender may agree.

Appears in 1 contract

Samples: Facility Agreement (Euroseas Ltd.)

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third second Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of twelve three (123) months or or, subject to availability, such shorter other period as the Borrower Borrowers may select and the Lender Agent may agreeagree in its absolute discretion.

Appears in 1 contract

Samples: Costamare Inc.

Selection of Interest Periods. Subject to clause 3.3, the Borrower Borrowers may by notice received by the Lender Agent not later than 10:00 a.m. on the third Banking Day before the beginning of each Interest Period specify whether such Interest Period shall have a duration of one (1) month, three (3) months, six (6) months, twelve (12) months or such shorter other period as the Borrower Borrowers may select and the Lender Agent (acting on the instructions of the Lenders) may agreeagree and the Borrowers may select no more than three Interest Periods having a duration of one (1) month period in any calendar year.

Appears in 1 contract

Samples: Agreement (Navios Maritime Holdings Inc.)

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