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. (b) In this Clause 7.4 (Mandatory prepayment on sale or Total Loss):
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Samples: Facility Agreement (Okeanis Eco Tankers Corp.), Facility Agreement (Okeanis Eco Tankers Corp.)
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, shall on the Relevant Date, Date prepay the Relevant Amount.
(b) Provided that no Default has occurred and is continuing, any remaining proceeds of the sale or Total Loss of the Ship, after the prepayment referred to in paragraph (a) above has been made together with all other amounts that are payable on any such prepayment pursuant to the Finance Documents, shall be paid to the relevant Borrower.
(c) In this Clause 7.4 (Mandatory prepayment on sale or Total Loss):
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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, shall on the Relevant DateDate prepay subject to the provisions of the Intercreditor Agreement, prepay an amount equal to the Relevant Amount.
(b) In this Clause 7.4 (Mandatory prepayment on sale or Total Loss):
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Mandatory prepayment on sale or Total Loss. (a) If a Borrower 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, shall on the Relevant DateDate prepay subject to the provisions of the Intercreditor Agreement, prepay an amount equal to the Relevant Amount.
(b) In this Clause 7.4 (Mandatory prepayment on sale or Total Loss):
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