Payment of Facility. The Tranches (other than Tranche 2 and any part of Tranche 4 which is to be applied in reduction of the Equity) shall be paid to the Builder, Tranche 2 shall be paid to Hermes through the Hermes Agent and such part of Tranche 4 which is to be applied in reduction of the Equity shall be paid to the Borrower or its order.
Appears in 6 contracts
Samples: Secured Loan Agreement (NCL CORP Ltd.), Secured Loan Agreement (NCL CORP Ltd.), Loan Agreement (NCL CORP Ltd.)
