Common use of Application of Payments Not Relating to an Event of Loss Clause in Contracts

Application of Payments Not Relating to an Event of Loss. Payments (except for payments under insurance policies described in Article 16) received at any time by Owner, the Indenture Trustee or Charterer from any Governmental Authority or other Person with respect to any destruction, damage, loss, condemnation, confiscation, theft or seizure of or requisition of title to or use of the Vessel Interest or any part thereof not constituting an Event of Loss shall be paid over to Charterer or as it may direct and all such amounts paid to Charterer shall be retained by Charterer.

Application of Payments Not Relating to an Event of Loss. Payments -------------------------------------------------------- (except for payments under insurance policies described in Article 16) received at any time by Owner, the Indenture Trustee or Charterer from any Governmental Authority or other Person with respect to any destruction, damage, loss, condemnation, confiscation, theft or seizure of or requisition of title to or use of the Vessel Interest or any part thereof not constituting an Event of Loss shall be paid over to Charterer or as it may direct and all such amounts paid to Charterer shall be retained by Charterer.