Common use of Date of Total Loss Clause in Contracts

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 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 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 purpose of this Agreement, a Total Loss shall be deemed to have occurred:-occurred: (i) in the case of an actual total loss of a Ship or Linkspan vessel on the actual date and at the time such Ship or Linkspan vessel was lost or, if such date is not known, on the date on which the Ship or Linkspan vessel was last reported; (ii) in the case of a constructive total loss of a Ship or Linkspanvessel, upon the date and at the time notice of abandonment of such Ship or Linkspan vessel is given to the insurers of such Ship or Linkspan vessel 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 vessel 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 Linkspanvessel; (iv) in the case of Compulsory Acquisition of a Ship or Linkspanvessel, on the date upon which the relevant requisition of title or other compulsory acquisition of such Ship or Linkspan vessel occurs; and (v) in the case of hijacking, theft, condemnation, capture, seizure, arrest, detention or confiscation of a Ship or Linkspan vessel (other than where the same amounts to Compulsory Acquisition of such Ship or Linkspanvessel) by any Government Entity, or by persons purporting to act on behalf of any Government Entity, which deprives the relevant Shipowner owner of the vessel of the use or the relevant Stena Charterer or third party demise charterer of such Ship or Linkspan vessel for more than one hundred and eighty (180) 60 days, upon the expiry of the period of one hundred and eighty (180) 60 days after the date upon which the relevant hijacking, theft, condemnation, capture, seizure, arrest, detention or confiscation occurred.

Date of Total Loss. For the purpose of this Agreement, a Total Loss shall be deemed to have occurred:-occurred: (ia) in the case of an actual total loss of a Ship or Linkspan vessel on the actual date and at the time such Ship or Linkspan vessel was lost or, if such date is not known, on the date on which the Ship or Linkspan vessel was last reported; (iib) in the case of a constructive total loss of a Ship or Linkspanvessel, upon the date and at the time notice of abandonment of such Ship or Linkspan vessel is given to the insurers of such Ship or Linkspan vessel 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 vessel was given to the insurers; (iiic) 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 Linkspanvessel; (ivd) in the case of Compulsory Acquisition of a Ship or Linkspanvessel, on the date upon which the relevant requisition of title or other compulsory acquisition of such Ship or Linkspan vessel occurs; and (ve) in the case of hijacking, theft, condemnation, capture, seizure, arrest, detention or confiscation of a Ship or Linkspan vessel (other than where the same amounts to Compulsory Acquisition of such Ship or Linkspanvessel) by any Government Entity, or by persons purporting to act on behalf of any Government Entity, which deprives the relevant Shipowner owner of the vessel of the use or the relevant Stena Charterer or third party demise charterer of such Ship or Linkspan vessel for more than one hundred and eighty sixty (18060) days, upon the expiry of the period of one hundred and eighty (180) 60 days after the date upon which the relevant hijacking, theft, condemnation, capture, seizure, arrest, detention or confiscation occurred.

Date of Total Loss. For the purpose of this Agreement, a Total Loss shall be deemed to have occurred:-occurred: (i) in the case of an actual total loss of a Ship or Linkspan Mortgaged Vessel on the actual date and at the time such Ship or Linkspan Mortgaged Vessel was lost or, if such date is not known, on the date on which the Ship or Linkspan such Mortgaged Vessel was last reported; (ii) in the case of a constructive total loss of a Ship or LinkspanMortgaged Vessel, upon the date and at the time notice of abandonment of such Ship or Linkspan Mortgaged Vessel is given to the insurers of such Ship or Linkspan Mortgaged Vessel 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 Mortgaged Vessel 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 LinkspanMortgaged Vessel; (iv) in the case of Compulsory Acquisition of a Ship or LinkspanMortgaged Vessel, on the date upon which the relevant requisition of title or other compulsory acquisition Compulsory Acquisition of such Ship or Linkspan Mortgaged Vessel occurs; and (v) in the case of hijacking, theft, condemnation, capture, seizure, arrest, detention or confiscation of a Ship or Linkspan Mortgaged Vessel (other than where the same amounts to Compulsory Acquisition of such Ship or LinkspanMortgaged Vessel) by any Government Entity, or by persons purporting to act on behalf of any Government Entity, which deprives the relevant Shipowner owner of the Mortgaged Vessel of the use or the relevant Stena Charterer or third party demise charterer of such Ship or Linkspan Mortgaged Vessel for more than one hundred and eighty sixty (18060) days, upon the expiry of the period of one hundred and eighty sixty (18060) days after the date upon which the relevant hijacking, theft, condemnation, capture, seizure, arrest, detention or confiscation occurredoccurred or such other longer period as agreed by the Facility Agent on behalf of the Majority Lenders.

Date of Total Loss. For the purpose of this Agreement, a Total Loss shall be deemed to have occurred:-occurred: (ia) in the case of an actual total loss of a Ship or Linkspan Mortgaged Vessel on the actual date and at the time such Ship or Linkspan Mortgaged Vessel was lost or, if such date is not known, on the date on which the Ship or Linkspan such Mortgaged Vessel was last reported; (iib) in the case of a constructive total loss of a Ship or LinkspanMortgaged Vessel, upon the date and at the time notice of abandonment of such Ship or Linkspan Mortgaged Vessel is given to the insurers of such Ship or Linkspan Mortgaged Vessel 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 Mortgaged Vessel was given to the insurers; (iiic) 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 LinkspanMortgaged Vessel; (ivd) in the case of Compulsory Acquisition of a Ship or LinkspanMortgaged Vessel, on the date upon which the relevant requisition of title or other compulsory acquisition Compulsory Acquisition of such Ship or Linkspan Mortgaged Vessel occurs; and (ve) in the case of hijacking, theft, condemnation, capture, seizure, arrest, detention or confiscation of a Ship or Linkspan Mortgaged Vessel (other than where the same amounts to Compulsory Acquisition of such Ship or LinkspanMortgaged Vessel) by any Government Entity, or by persons purporting to act on behalf of any Government Entity, which deprives the relevant Shipowner owner of the Mortgaged Vessel of the use or the relevant Stena Charterer or third party demise charterer of such Ship or Linkspan Mortgaged Vessel for more than one hundred and eighty ninety (18090) days, upon the expiry of the period of one hundred and eighty ninety (18090) days after the date upon which the relevant hijacking, theft, condemnation, capture, seizure, arrest, detention or confiscation occurredoccurred or such other longer period as agreed by the Facility Agent on behalf of the Majority Lenders.