Common use of Mandatory Prepayment on Total Loss Clause in Contracts

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty (150) days after that on which a Mortgaged Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee pursuant to the Security Documents), the Borrowers must prepay the Loan by an amount equal to the Advance relating to that Mortgaged Vessel.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty ninety (15090) days after that on which a Mortgaged Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee Bank pursuant to the Security Documents), the Borrowers must prepay the Loan by an amount equal to Relevant Proportion of the Advance relating to that Mortgaged VesselLoan.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty ninety (15090) days after that on which a Mortgaged the Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee Bank pursuant to the Security Documents), the Borrowers Borrower must prepay the Loan by an amount equal to the Advance relating to that Mortgaged VesselLoan.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty ninety (15090) days after that on which a Mortgaged Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee Bank pursuant to the Security Documents), the Borrowers must prepay the Loan by an amount equal to the Advance relating to that Mortgaged VesselRelevant Tranche.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty ninety (15090) days after that on which a Mortgaged Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee pursuant to the Security Documents), the Borrowers must prepay the Loan by an amount equal to the Advance Tranche relating to that Mortgaged Vessel.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty eighty (150180) days after that on which a Mortgaged the Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such VesselMortgage) is, received by the relevant Borrower (or the Security Trustee pursuant to the Security Documents), the Borrowers Borrower must prepay the Loan by an amount equal to the Advance relating to that Mortgaged VesselLoan.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty twenty (150120) days after that on which a Mortgaged the Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee or any other Bank pursuant to the Security Documents), the Borrowers Borrower must prepay the Loan by an amount equal in full and all other sums outstanding and owing to the Advance relating to Banks under this Agreement and the Security Documents at that Mortgaged Vesseltime.

Mandatory Prepayment on Total Loss. 4.3.1 On the date falling one hundred and fifty eighty (150180) days after that on which a Mortgaged the Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee Lender pursuant to the Security Documents), ) the Borrowers Borrower must prepay the Loan by an amount equal to the Advance relating to that Mortgaged Vesselin full.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty ninety (15090) days after that on which a Mortgaged Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition 18 Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee Bank pursuant to the Security Documents), the Borrowers must prepay the Loan by an amount equal to Relevant Proportion of the Advance relating to that Mortgaged VesselLoan.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty twenty (150120) days after that on which a Mortgaged the Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee or any other Bank pursuant to the Security Documents), the Borrowers Borrower must prepay the Loan by an amount equal to the Advance relating to that Mortgaged Vesselin full.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty eighty (150180) days after that on which a Mortgaged Vessel Ship became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such VesselShip) is, received by the relevant Borrower Owner (or the Security Trustee Lender pursuant to the Security Documents), the Borrowers must prepay the Loan by an amount equal to the Advance relating amount of the Loan on the date on which such payment is required to that be made multiplied by the Relevant Percentage for such Mortgaged VesselShip.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty (150) days after that on which a Mortgaged the Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such VesselMortgage) is, received by the relevant Borrower Guarantor (or the Security Trustee any Bank pursuant to the Security Documents), ) the Borrowers Borrower must prepay the Loan by an amount equal to the Advance relating to that Mortgaged VesselLoan.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty ninety (15090) days after that on which a Mortgaged Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee pursuant to the Security Documents), the Borrowers must prepay the Loan by an amount equal to the Advance relating to that Mortgaged Vessel.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty twenty (150120) days after that on which a Mortgaged Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee pursuant to the Security Documents), the Borrowers must prepay the Loan by an amount equal to the Advance relating to that Mortgaged Vessel.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty twenty (150120) days after that on which a Mortgaged Vessel Ship became a Total Loss or, if earlier, on within 5 Banking Days from the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such VesselShip) is, received by the relevant Borrower Owner (or the Security Trustee or any other Bank pursuant to the Security Documents), the Borrowers Borrower must prepay the Loan by an amount equal to the Advance relating to that Mortgaged VesselShip.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty ninety (15090) days after that on which a Mortgaged the Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such VesselMortgage) is, received by the relevant Borrower (or the Security Trustee pursuant to the Security Documents), the Borrowers Borrower must prepay the Loan by an amount equal to the Advance relating to that Mortgaged VesselLoan.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty eighty (150180) days after that on which a Mortgaged Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee pursuant to the Security Documents), the Borrowers must prepay the Loan by an amount equal to the Advance relating to that Mortgaged VesselRelevant Tranche.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty eighty (150180) days after that on which a Mortgaged the Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee Lender pursuant to the Security Documents), ) the Borrowers Borrower must prepay the Loan by an amount equal to the Advance relating to that Mortgaged Vesselin full.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty eighty (150180) days after that on which a Mortgaged the Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such VesselMortgage) is, received by the relevant Borrower (or the Security Trustee Bank pursuant to the Security Documents), the Borrowers Borrower must prepay the Loan by an amount equal to the Advance relating to that Mortgaged VesselLoan.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty ninety (15090) days after that on which a Mortgaged the Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such Vessel) is, received by the relevant Borrower (or the Security Trustee Lender pursuant to the Security Documents), ) the Borrowers Borrower must prepay the Loan by an amount equal to the Advance relating to that Mortgaged Vesselin full.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty eighty (150180) days after that on which a Mortgaged Vessel Ship became a Total Loss or, if earlier, on within 5 Banking Days from the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such VesselShip) is, received by the relevant Borrower Owner (or the Security Trustee or any other Bank pursuant to the Security Documents), the Borrowers Borrower must prepay the Loan by an amount equal to the Advance relating to that Mortgaged VesselShip.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty (150) days after that on which a Mortgaged Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such VesselMortgage) is, received by the relevant Borrower Owner thereof (or the Security Trustee Lender pursuant to the Security Documents), ) the Borrowers Borrower must prepay the Loan by an amount equal to the Advance relating to that Mortgaged Vessel.

Mandatory Prepayment on Total Loss. On the date falling one hundred and fifty (150) days after that on which a Mortgaged the Vessel became a Total Loss or, if earlier, on the date upon which the relevant insurance proceeds are, or Requisition Compensation (as defined in the Mortgage for such VesselMortgage) is, received by the relevant Borrower Guarantor (or the Security Trustee Lender pursuant to the Security Documents), ) the Borrowers Borrower must prepay the Loan by an amount equal to the Advance relating to that Mortgaged VesselLoan.