Common use of Mandatory prepayment on sale or Total Clause in Contracts

Mandatory prepayment on sale or Total. Loss If the Vessel is sold by the Borrower or becomes a Total Loss, the Borrower shall, simultaneously with any such sale or within one hundred and twenty (120) days after any such Total Loss, prepay the whole of the Loan.

Mandatory prepayment on sale or Total. Loss If the Vessel is sold by the Borrower or becomes a Total Loss, the Borrower shall, simultaneously with any such sale or within one hundred and twenty ninety (12090) days after any such Total Loss, prepay the whole of the Loan.

Mandatory prepayment on sale or Total. Loss If the Vessel is sold by the Borrower or becomes a Total Loss, the Borrower shall, simultaneously with any such sale or within one hundred and twenty fifty (120150) days after any such Total Loss, prepay the whole of the Loan.

Mandatory prepayment on sale or Total. Loss If the a Vessel is sold by the Borrower a Collateral Owner or becomes a Total Loss, the Borrower shall, simultaneously with any such sale or or, subject to Clause 6.4 (Replacement of Vessels) within one hundred and twenty (120) days after any such Total Loss, prepay the whole make a prepayment of the Loan.Loan in an amount equivalent to the greater of:

Mandatory prepayment on sale or Total. Loss If the a Vessel is sold by the a Borrower or becomes a Total Loss, the Borrower Borrowers shall, simultaneously with any such sale or within on the earlier of the date falling one hundred and twenty (120) days after any such Total LossLoss and the date on which the proceeds of any such Total Loss are realised, prepay the whole of the Loanoutstanding Indebtedness in respect of the Tranche for the Vessel in question.

Mandatory prepayment on sale or Total. Loss If the a Vessel is sold by the a Borrower or becomes a Total Loss, the Borrower Borrowers shall, simultaneously with any such sale or within on the earlier of the date falling one hundred and twenty (120) days after any the Total Loss Date and the date of receipt by the Security Trustee of the proceeds of insurance relating to such Total Loss, prepay the whole Loss make a prepayment of the Loan.Loan in an amount equivalent to the higher of:-

Mandatory prepayment on sale or Total. Loss If the Vessel is sold by the Borrower or becomes a Total Loss, the Borrower shall, simultaneously with any such sale or within one hundred on the earlier of the date falling six months after the Drawdown Date and twenty (120) days after the date on which the proceeds of any such Total LossLoss are realised, prepay the whole of the LoanIndebtedness.

Mandatory prepayment on sale or Total. Loss If the Vessel is sold by the Borrower or becomes a Total Loss, the Borrower shall, simultaneously with any such sale or within one hundred and twenty (120) on the earlier of the date falling 120 days after any such Total LossLoss and the date on which the proceeds of any such Total Loss are realised, prepay the whole of the Loan.

Mandatory prepayment on sale or Total. Loss If the a Vessel is sold by the a Borrower or becomes a Total Loss, the Borrower Borrowers shall, simultaneously with any such sale or within on the earlier of the date falling one hundred and twenty (120) days after any the occurrence of the casualty giving rise to such Total Loss, prepay Loss and the whole date of receipt by the Lender of the Loan.proceeds of insurance relating to such Total Loss make a prepayment of the Loan in an amount equivalent to the higher of:-

Mandatory prepayment on sale or Total. Loss If the a Vessel is sold by the a Borrower or becomes a Total Loss, the Borrower Borrowers shall, simultaneously with any such sale or within one hundred and twenty (120) on the earlier of the date falling 180 days after any such Total LossLoss and the date on which the proceeds of any such Total Loss are realised, prepay the whole of the Loan.Tranche in respect of that Vessel then outstanding. Any such prepayment shall be applied: 7.5.1 firstly, in respect of any Break Costs;