Date of Total Loss Clause Samples
Date of Total Loss. For the purpose of this Agreement, a Total Loss shall be deemed to have occurred:-
(i) in the case of an actual total loss of a Ship or Linkspan, on the actual date and at the time such Ship or Linkspan was lost or, if such date is not known, on the date on which the Ship or Linkspan was last reported;
(ii) in the case of a constructive total loss of a Ship or Linkspan, upon the date and at the time notice of abandonment of such Ship or Linkspan is given to the insurers of such Ship or Linkspan for the time being (provided a claim for total loss is admitted by such insurers) or, if such insurers do not forthwith admit such a claim, at the date and at the time at which either a total loss is subsequently admitted by the insurers or a total loss is subsequently adjudged by a competent court of law or arbitration panel to have occurred or, if earlier, the date falling six (6) months after notice of abandonment of such Ship or Linkspan was given to the insurers;
(iii) in the case of a compromised or arranged total loss, on the date upon which a binding agreement as to such compromised or arranged total loss has been entered into by the insurers of the relevant Ship or Linkspan;
(iv) in the case of Compulsory Acquisition of a Ship or Linkspan, on the date upon which the relevant requisition of title or other compulsory acquisition of such Ship or Linkspan occurs; and
(v) in the case of hijacking, theft, condemnation, capture, seizure, arrest, detention or confiscation of a Ship or Linkspan (other than where the same amounts to Compulsory Acquisition of such Ship or Linkspan) by any Government Entity, or by persons purporting to act on behalf of any Government Entity, which deprives the relevant Shipowner of the use or the relevant Stena Charterer or third party demise charterer of such Ship or Linkspan for more than one hundred and eighty (180) days, upon the expiry of the period of one hundred and eighty (180) days after the date upon which the relevant hijacking, theft, condemnation, capture, seizure, arrest, detention or confiscation occurred.
Date of Total Loss. For the purposes of this Agreement, a Total Loss in respect of the Haewene Brim Equipment and/or the Haewene Brim shall be deemed to have occurred:
10.3.1 in the case of an actual total loss of the Haewene Brim Equipment and/or the Haewene Brim, at noon (London time) on the actual date the Haewene Brim Equipment and/or the Haewene Brim was lost or, if such date is not known, on the date on which the Haewene Brim Equipment and/or the Haewene Brim was last reported;
10.3.2 in the case of constructive total loss of the Haewene Brim Equipment and/or the Haewene Brim, on the date and at the time notice of abandonment of the Haewene Brim Equipment and/or the Haewene Brim is given to the insurers of the Haewene Brim Equipment and/or the Haewene Brim for the time being (provided a claim for such constructive total loss is admitted by the insurers) or, if the insurers do not admit such a claim, on the date and time at which a constructive total loss is subsequently adjudged by a competent court of law to have occurred;
10.3.3 in the case of a compromised or arranged total loss, on the date upon which a binding agreement as to such compromised or arranged total loss has been entered into by the insurers of the Haewene Brim Equipment and/or the Haewene Brim;
10.3.4 in the case of Compulsory Acquisition, on the date on which the relevant requisition of title or other compulsory acquisition occurs; and
10.3.5 in the case of hijacking, theft, condemnation, confiscation, capture, detention or seizure of the Haewene Brim Equipment and/or the Haewene Brim (other than where the same amounts to Compulsory Acquisition of the Haewene Brim Equipment and/or the Haewene Brim) which deprives PPC of the use of such Haewene Brim Equipment or relevant part thereof for more than ninety (90) days, upon the expiry of the period of ninety (90) days after the date upon which the relevant hijacking, theft, condemnation, confiscation, capture, detention or seizure occurred. The date on which a Total Loss shall be deemed pursuant to this clause 10.3 to have occurred is referred to as the "Date of Total Loss".
Date of Total Loss. For the purpose of this Agreement, a Total Loss shall be deemed to have occurred:
Date of Total Loss. For the purposes of this Agreement, a Total Loss in respect of the Vessel shall be deemed to have occurred:
(a) in the case of an actual total loss of the Vessel at noon (London time) on the actual date the Vessel was lost or, if such date is not known, on the date on which the Vessel was last reported;
(b) in the case of constructive total loss of the Vessel, on the date and at the time notice of abandonment of the Vessel is given to the insurers of the Vessel for the time being (provided a claim for such constructive total loss is admitted by the insurers) or, if the insurers do not admit such a claim, on the date and time at which a constructive total loss is subsequently adjudged by a competent court of law to have occurred;
(c) in the case of a compromised or arranged total loss, on the date upon which a binding agreement as to such compromised or arranged total loss has been entered into by the insurers of the Vessel;
(d) in the case of Compulsory Acquisition, on the date on which the relevant requisition of title or other compulsory acquisition occurs; and
(e) in the case of hijacking, theft, condemnation, confiscation, capture, detention or seizure of the Vessel (other than where the same amounts to Compulsory Acquisition of the Vessel), upon the expiry of the period of one hundred and eighty (180) days after the date upon which the relevant hijacking, theft, condemnation, confiscation, capture, detention or seizure occurred. The date on which a Total Loss shall be deemed pursuant to this Clause 10.3 to have occurred is referred to as the "Date of Total Loss".