Common use of Delayed Delivery of the Vessel Clause in Contracts

Delayed Delivery of the Vessel. If within 15 days after the Closing Date the Loan has not been utilized to pay for the delivery of the Vessel. Notwithstanding anything else contained in this Agreement, if, prior to delivery of the Vessel, the Borrower makes a Mandatory Prepayment pursuant to Section 9.2 or a voluntary prepayment pursuant to Section 3.2(a) and the Vessel is delivered prior to the Commitment Termination Date, the Borrower shall be entitled to make an additional Loan Request prior to the Commitment Termination Date as if the funds had not been previously advanced. Payment of the Loan made pursuant to this Section shall be without premium or penalty, except as may be required by Section 4.4.

Delayed Delivery of the Vessel. If within 15 days after the Closing Date the Loan has not been utilized to pay for the delivery of the Vessel. Notwithstanding anything else contained in this Agreement, if, prior to delivery of the Vessel, the Borrower makes a Mandatory Prepayment pursuant to Section 9.2 or a voluntary prepayment pursuant to Section 3.2(a) and the Vessel is delivered prior to the Commitment (NY) 18002/039/XXXX.000.XXXX/hull.677.loan.agt.doc Termination Date, the Borrower shall be entitled to make an additional Loan Request prior to the Commitment Termination Date as if the funds had not been previously advanced. Payment of the Loan made pursuant to this Section shall be without premium or penalty, except as may be required by Section 4.4.

Delayed Delivery of the Vessel. If within 15 days after the Closing Date the Loan has not been utilized to pay for the delivery of the Vessel. Notwithstanding anything else contained in this Agreement, if, prior to delivery of the Vessel, the Borrower makes a Mandatory Prepayment pursuant to Section 9.2 or a voluntary prepayment pursuant to Section 3.2(a) and the Vessel is delivered prior to the Commitment (NY) 18002/039/SOLSTICE2/solstice.2.loan.agt.doc Termination Date, the Borrower shall be entitled to make an additional Loan Request prior to the Commitment Termination Date as if the funds had not been previously advanced. Payment of the Loan made pursuant to this Section shall be without premium or penalty, except as may be required by Section 4.4.