Common use of Mandatory Prepayment; Sale or Loss of Vessel Clause in Contracts

Mandatory Prepayment; Sale or Loss of Vessel. Upon (i) the sale of a Vessel or (ii) the earlier of (x) ninety (90) days after the Total Loss (as such term is defined in each Mortgage) of a Vessel or (y) the date on which the insurance proceeds in respect of such loss are received by the Borrower or the Security Trustee as assignee thereof, the Borrower shall repay the relevant Tranche in full.

Mandatory Prepayment; Sale or Loss of Vessel. Upon On (i) the any sale of a Vessel (other than sales made pursuant to Section 9.7, Vessel Substitution Sales), or (ii) the earlier of (x) ninety (90) days after the Total Loss (as such term is defined in each Mortgage) of a Vessel or (y) the date on which the insurance proceeds in respect of such loss are received by the Borrower (or a Guarantor) or the Security Trustee Agent as assignee thereof, the Borrower such proceeds shall repay the relevant Tranche in full.be applied as follows:

Mandatory Prepayment; Sale or Loss of Vessel. Upon On (i) the any sale of a Vessel (which in any event shall require the prior consent of the Agents) or (ii) the earlier of (x) ninety (90) days after the Total Loss (as such term is defined in each Mortgage) of a Vessel or (y) the date on which the insurance proceeds in respect of such loss are received by the Borrower (or a Guarantor or Subordinated Guarantor) or the Security Trustee Agent as assignee thereof, the Borrower such proceeds shall repay the relevant Tranche in full.be applied as follows:

Mandatory Prepayment; Sale or Loss of Vessel. Upon On (i) the any sale of a Vessel (which in any event shall require the prior consent of the Agents) or (ii) the earlier of (x) ninety (90) days after the Total Loss (as such term is defined in each Mortgage) of a Vessel or (y) the date on which the insurance proceeds in respect of such loss are received by the Borrower (or a Guarantor) or the Security Trustee Agent as assignee thereof, the Borrower such proceeds shall repay the relevant Tranche in full.be applied as follows:

Mandatory Prepayment; Sale or Loss of Vessel. Upon On (i) the any sale of a the Vessel or (ii) the earlier of (x) ninety (90) days after the Total Loss (as such term is defined in each Mortgage) of a the Vessel or (y) the date on which the insurance proceeds in respect of such loss are received by the Borrower or the Security Trustee Agent as assignee thereof, the Borrower shall repay the relevant Tranche Loan in fullfull and all other amounts owed under the Loan or otherwise in connection with the Loan.