Common use of Refund of pre-positioned Clause in Contracts

Refund of pre-positioned. amount If the Buyers have made a transfer of funds to the Builder’s Bank in accordance with Clauses 7.1 (Pre-position) and 7.2 (Conditions to pre-position) but delivery of the Vessel does not occur on the Actual Delivery Date, then the Sellers shall procure the refund of the Delivery Instalment and any other amount so transferred by the Buyers in accordance with the instructions from the Buyers to the Builder’s Bank, provided that the Sellers’ obligations under this sub-paragraph (c) shall be deemed to be complied by any repayment (but only to the extent and amount of such repayment) by the Builder’s Bank to the Buyers or their bank of any part of the Delivery Instalment and any other amount so transferred by the Buyers in connection with Clauses 7.1 (Pre-position) and 7.2 (Conditions to pre-position).

Refund of pre-positioned. amount If the Buyers have made a transfer of funds to the Builder’s 's Bank in accordance with Clauses 7.1 (Pre-position) and 7.2 (Conditions to pre-position) but delivery of the Vessel does not occur on the Actual Delivery Date, then the Sellers shall procure the refund of the Delivery Instalment Instalment, the Extra Amount Instalment, the Extra Amount Balance Portion and any other amount so transferred by the Buyers in accordance with the relevant payment instructions from the Buyers to the Builder’s Bank(or such other equivalent document), provided that the Sellers’ ' obligations under this sub-paragraph (cee) shall be deemed to be complied by any repayment (but only to the extent and amount of such repayment) by the Builder’s 's Bank to the Buyers or their bank of any part of the Delivery Instalment Instalment, the Extra Amount Instalment, the Extra Amount Balance Portion and any other amount so transferred by the Buyers in connection with Clauses 7.1 (Pre-position) and 7.2 (Conditions to pre-position).