Mandatory prepayment on sale or Total Loss. The Borrower shall be obliged to prepay the Relevant Amount if a Ship:
Mandatory prepayment on sale or Total Loss. (a) If a Ship is sold or becomes a Total Loss, the Borrowers shall on the Relevant Date prepay the Tranche applicable to that Ship.
Mandatory prepayment on sale or Total Loss. (a) If a Ship is sold (without prejudice to paragraph (a) of Clause 23.12 (Disposals)), refinanced by the Lenders or another bank or financial institution or becomes a Total Loss, the Borrowers shall, on the Relevant Date, prepay the Relevant Amount.
Mandatory prepayment on sale or Total Loss. If a Ship is sold or becomes a Total Loss, the Borrower shall prepay the Tranche related to that Ship and comply with Clause 8.14:
Mandatory prepayment on sale or Total Loss. 7.6.1 If a Vessel is sold by an Owner, the Borrowers shall, simultaneously with any such sale, prepay the Loan with an amount equal to the Appropriate Amount for such Vessel immediately prior to completion of such sale. Any such prepayment shall be applied first against the Tranche made available to finance that Vessel (and reduce the instalments of such Tranche (including any balloon payment) on a pro rata basis) and secondly in prepayment of such other Tranche and reduce the instalments of such other Tranche (including any balloon payment) on a pro rata basis) as determined by the Borrowers. Any balance shall, unless a Default has occurred and is continuing, be at the free disposal of the Borrowers. If a Default or an Event of Default has occurred, all proceeds from a sale of a Vessel shall be applied towards prepayment of the Loan.
Mandatory prepayment on sale or Total Loss. If the Ship is sold (without prejudice to paragraph (a) of Clause 21.11 (Disposals)) or becomes a Total Loss, the Borrower shall repay the Loan together with accrued interest, and all other amounts accrued under the Finance Documents. Such repayment shall be made:
Mandatory prepayment on sale or Total Loss. If the Vessel is sold or becomes a Total Loss, the Borrower shall repay the Loan. Such repayment shall be made:
Mandatory prepayment on sale or Total Loss. If a Vessel is sold by a Borrower or becomes a Total Loss, the Borrowers shall, simultaneously with any such sale or on the earlier of the date falling one hundred and twenty (120) days after any such Total Loss and the date on which the proceeds of any such Total Loss are realised, prepay the whole of the outstanding Indebtedness in respect of the Tranche for the Vessel in question.
Mandatory prepayment on sale or Total Loss. If a Ship is sold or becomes a Total Loss, the Borrower shall on the Relevant Date prepay the Loan in an amount equal to 100% of the proceeds of the sale or Total Loss, less, in the case of a sale, reasonable brokers’ commissions.
Mandatory prepayment on sale or Total Loss. 7.5.1 In this Agreement, "
