Loss of a Mortgaged Vessel. (a) If an Event of Loss occurs at any time with respect to a Mortgaged Vessel (the Mortgaged Vessel suffering such Event of Loss being the “Lost Mortgaged Vessel”), the Company or the relevant Restricted Subsidiary shall deposit all Event of Loss Proceeds with respect to such Event of Loss with the Administrative Agent as Cash Collateral subject to disposition as provided in this Section 5.14 or as provided in Sections 10.20 and 10.22. Such amount is hereinafter referred to as the “Loss Repayment Amount”.
Appears in 4 contracts
Samples: Credit Agreement, Credit Agreement (Navios Maritime Midstream Partners LP), Credit Agreement
Loss of a Mortgaged Vessel. (a) If an Event of Loss occurs at any time with respect to a Future Mortgaged Vessel (the Future Mortgaged Vessel suffering such Event of Loss being the “Lost Future Mortgaged Vessel”), the Company or the relevant Restricted Subsidiary shall deposit all Event of Loss Proceeds with respect to such Event of Loss with the Administrative Agent Collateral Trustee as Cash Trust Monies constituting Collateral subject to disposition as provided in this Section 5.14 4.21 or as provided in Sections 10.20 11.04 and 10.2212.02. Such amount is hereinafter referred to as the “Loss Repayment Redemption Amount.”.
Appears in 3 contracts
Samples: Intercreditor Agreement (Navios Maritime Holdings Inc.), Supplemental Indenture (Navios Maritime Holdings Inc.), Indenture (Navios Maritime Holdings Inc.)
Loss of a Mortgaged Vessel. (a) If an Event of Loss occurs at any time with respect to a Mortgaged Vessel (the Mortgaged Vessel suffering such Event of Loss being the “Lost Mortgaged Vessel”), the Company or the relevant Restricted Subsidiary shall deposit all Event of Loss Proceeds with respect to such Event of Loss with the Administrative Agent Collateral Trustee as Cash Trust Monies constituting Collateral subject to disposition as provided in this Section 5.14 4.21 or as provided in Sections 10.20 11.04 and 10.2212.02. Such amount is hereinafter referred to as the “Loss Repayment Redemption Amount”.
Appears in 3 contracts
Samples: Indenture (Navios Maritime Holdings Inc.), Indenture (Navios Maritime Acquisition CORP), Indenture (Navios Maritime Holdings Inc.)
Loss of a Mortgaged Vessel. (a) If an Event of Loss occurs at any time with respect to a Mortgaged Vessel (the Mortgaged Vessel suffering such Event of Loss being the “Lost Mortgaged Vessel”), the Company or the relevant Restricted Subsidiary shall deposit all Event of Loss Proceeds with respect to such Event of Loss with the Administrative Agent as Cash Collateral subject to disposition as provided in this Section 5.14 or as provided in Sections 10.20 and 10.22. Such amount is hereinafter referred to as the “Loss Repayment Amount.”.
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