Common use of LOSS AFTER DELIVERY Clause in Contracts

LOSS AFTER DELIVERY. A. If the Vessel becomes an actual total loss during any term of this Charter and prior to any sale to Charterer, this Charter shall terminate as of the date of the actual loss. If the Vessel becomes a constructive or compromised total loss under the insurances, this Charter shall terminate, but payment of Charter Hire shall continue until the underwriters or Charterer in the case of self-insurance remit to Owner, the proceeds of said insurance.

LOSS AFTER DELIVERY. A. If the Vessel becomes an actual total loss during any term of this Charter and prior to any sale to Charterer, this Charter shall terminate as of the date of the actual loss. If the Vessel becomes a constructive or compromised total loss under the insurances, this Charter shall terminate, but payment of Charter Hire shall continue until the underwriters or Charterer in the case of self-insurance remit to Owner, Owner the proceeds of said insurance, and Owner remits such proceeds to Cruise Holdings pursuant to the terms of the Master Charter.