Application of Recoveries. All sums paid under the Ship's Insurances to anyone other than the Security Agent shall be applied in repairing the damage and/or in discharging the liability in respect of which they have been paid except to the extent that the repairs have already been paid for and/or the liability already discharged.
Appears in 6 contracts
Samples: Facility Agreement, Facility Agreement (Navigator Holdings Ltd.), Facility Agreement (Navigator Holdings Ltd.)
Application of Recoveries. All sums paid under the Ship's ’s Insurances to anyone other than the Security Agent shall be applied in repairing the damage and/or in discharging the liability in respect of which they have been paid except to the extent that the repairs have already been paid for and/or the liability already discharged.
Appears in 4 contracts
Samples: Loan Agreement (Navigator Holdings Ltd.), Loan Agreement (Dorian LPG Ltd.), Facility Agreement (Quintana Shipping Ltd.)
Application of Recoveries. All sums paid under the Ship's ’s Insurances to anyone other than the Security Agent shall be applied in repairing the damage and/or in discharging the liability in respect of which they have been paid except to the extent that the repairs have already been paid for and/or the liability already discharged.
Appears in 4 contracts
Samples: Supplemental Agreement (Navigator Holdings Ltd.), Facility Agreement (Navigator Holdings Ltd.), Loan Facility Agreement (Navigator Holdings Ltd.)
Application of Recoveries. All sums paid under the a Ship's ’s Insurances to anyone other than the Security Agent shall be applied in repairing the damage and/or in discharging the liability in respect of which they have been paid except to the extent that the repairs have already been paid for and/or the liability already discharged.
Appears in 2 contracts
Samples: Facility Agreement (Cool Co Ltd.), Facility Agreement (Cool Co Ltd.)
Application of Recoveries. All sums paid under the Ship's ’s Insurances to anyone other than the Security Agent Lender shall be applied in repairing the damage and/or in discharging the liability in respect of which they have been paid except to the extent that the repairs have already been paid for and/or the liability already discharged.
Appears in 1 contract
Samples: Facility Agreement (Danaos Corp)
Application of Recoveries. All sums paid under the Ship's Vessel’s Obligatory Insurances to anyone other than the Security Agent shall be applied in repairing the damage and/or in discharging the liability in respect of which they have been paid except to the extent that the repairs have already been paid for and/or the liability already discharged.
Appears in 1 contract
