Common use of Repayment Instalments Clause in Contracts

Repayment Instalments. Loan A Loan A shall be repaid by (i) 20 quarterly instalments each of $417,500 and (ii) a balloon instalment of $16,650,000 payable simultaneously with the last such quarterly instalment commencing with a first such quarterly instalment to be paid on the date falling three months after the Drawdown Date of the Loan A Delivery Advance and thereafter at three monthly intervals Provided that in the event such Loan is not drawndown in full such repayment instalments shall be reduced pro-rata and provided further that any repayment instalments in respect of such Loan due to be repaid on or before 1 January 2010 shall be prepaid on the Drawdown Date of the Loan A Delivery Advance. Loan B Loan B will be repaid by (i) 20 quarterly instalments each of $417,500 and (ii) a balloon instalment of $16,650,000 payable simultaneously with the last such quarterly instalment commencing with a first such quarterly instalment to be paid on the date falling three months after the Drawdown Date of the Loan B Delivery Advance and thereafter at three monthly intervals Provided that in the event such Loan is not drawndown in full such repayment instalments shall be reduced pro-rata. Loan C Loan C will be repaid by (i) 20 quarterly instalments each of $417,500 and (ii) a balloon instalment of $16,650,000 payable simultaneously with the last such quarterly instalment commencing with a first such quarterly instalment to be paid on the date falling three months after the Drawdown Date of the Loan C Delivery Advance and thereafter at three monthly intervals Provided that in the event such Loan is not drawndown in full such repayment instalments shall be reduced pro-rata. Loan D Loan D will be repaid by (i) 20 quarterly instalments each of $417,500 and (ii) a balloon instalment of $16,650,000 payable simultaneously with the last such quarterly instalment commencing with a first such quarterly instalment to be paid on the date falling three months after the Drawdown Date of the Loan D Delivery Advance and thereafter at three monthly intervals Provided that in the event such Loan is not drawndown in full such repayment instalments shall be reduced pro-rata.

Repayment Instalments. Loan A Loan A shall will be repaid by (i) 20 quarterly instalments each of in an amount equal to $417,500 and (ii) together with a balloon instalment in amount equal to such amount outstanding in respect of $16,650,000 payable simultaneously with Loan A as at the last such quarterly instalment commencing with a Final Repayment Date, the first such quarterly instalment to be paid falling due on the Drawdown Date in respect of the Loan A Delivery Advance, the second instalment falling due on the date falling three 6 months after the Drawdown Date in respect of the Loan A Delivery Advance and subsequent instalments falling due at 3 month intervals thereafter at three monthly intervals Provided that in and the event such Loan is not drawndown in full such repayment instalments balloon instalment falling due on the Final Repayment Date. The Agent shall be reduced pro-rata and provided further that any repayment instalments on the Delivery Date in respect of Ship A deliver to the Borrowers and the Creditor Parties a revised repayment schedule setting out the dates on which each instalment is due and the amount of each such Loan due to be repaid on or before 1 January 2010 shall be prepaid on the Drawdown Date of the Loan A Delivery Advanceinstalment. Loan B Loan B will be repaid by (i) 20 quarterly instalments each of in an amount equal to $417,500 and (ii) together with a balloon instalment in amount equal to such amount outstanding in respect of $16,650,000 payable simultaneously with Loan B as at the last such quarterly instalment commencing with a Final Repayment Date, the first such quarterly instalment to be paid on the date falling due three months after from the Drawdown Date in respect of the Loan B Delivery Advance and subsequent instalments falling due at 3 month intervals thereafter at three monthly intervals Provided that and the balloon instalment falling due on the Final Repayment Date. The Agent shall on the Delivery Date in respect of Ship B deliver to the event Borrowers and the Creditor Parties a revised repayment schedule setting out the dates on which each instalment is due and the amount of each such Loan is not drawndown in full such repayment instalments shall be reduced pro-ratainstalment. Loan C Loan C will be repaid by (i) 20 quarterly instalments each of in an amount equal to $417,500 and (ii) together with a balloon instalment in amount equal to such amount outstanding in respect of $16,650,000 payable simultaneously with Loan C as at the last such quarterly instalment commencing with a Final Repayment Date, the first such quarterly instalment to be paid on the date falling due three months after from the Drawdown Date in respect of the Loan C Delivery Advance and subsequent instalments falling due at 3 month intervals thereafter at three monthly intervals Provided that and the balloon instalment falling due on the Final Repayment Date. The Agent shall on the Delivery Date in respect of Ship C deliver to the event Borrowers and the Creditor Parties a revised repayment schedule setting out the dates on which each instalment is due and the amount of each such Loan is not drawndown in full such repayment instalments shall be reduced pro-ratainstalment. Loan D Loan D will be repaid by (i) 20 quarterly instalments each of in an amount equal to $417,500 and (ii) together with a balloon instalment in amount equal to such amount outstanding in respect of $16,650,000 payable simultaneously with Loan D as at the last such quarterly instalment commencing with a Final Repayment Date, the first such quarterly instalment to be paid on the date falling due three months after from the Drawdown Date in respect of the Loan D Delivery Advance and subsequent instalments falling due at 3 month intervals thereafter and the balloon instalment falling due on the Final Repayment Date. The Agent shall on the Delivery Date in respect of Ship D deliver to the Borrowers and the Creditor Parties a revised repayment schedule setting out the dates on which each instalment is due and the amount of each such instalment. Loan E Loan E will be repaid by quarterly instalments each in an amount equal to $417,500 together with a balloon instalment in amount equal to such amount outstanding in respect of Loan E as at the Final Repayment Date, the first such instalment falling due three monthly months from the Drawdown Date in respect of the Loan E Delivery Advance and subsequent instalments falling due at 3 month intervals Provided that thereafter and the balloon instalment falling due on the Final Repayment Date. The Agent shall on the Delivery Date in respect of Ship E deliver to the event Borrowers and the Creditor Parties a revised repayment schedule setting out the dates on which each instalment is due and the amount of each such instalment. Loan F Loan F will be repaid by quarterly instalments each in an amount equal to $417,500 together with a balloon instalment in amount equal to such amount outstanding in respect of Loan F as at the Final Repayment Date, the first such instalment falling due three months from the Drawdown Date in respect of the Loan F Delivery Advance and subsequent instalments falling due at 3 month intervals thereafter and the balloon instalment falling due on the Final Repayment Date. The Agent shall on the Delivery Date in respect of Ship F deliver to the Borrowers and the Creditor Parties a revised repayment schedule setting out the dates on which each instalment is not drawndown in full due and the amount of each such repayment instalments shall instalment. [to be reduced pro-ratareplaced by Schedule 2 to the Amending and Restating Agreement] SCHEDULE 6 MANDATORY COST FORMULA 1 The Mandatory Cost is an addition to the interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Financial Services Authority (or any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank.

Repayment Instalments. Loan A Loan A shall be repaid by (i) 20 40 quarterly instalments each of $417,500 and (ii) a balloon instalment of $16,650,000 8,300,000 payable simultaneously with the last such quarterly instalment commencing with a first such quarterly instalment to be paid on the date falling three months after the Drawdown Date of the Loan A Delivery Advance and thereafter at three monthly intervals Provided that in the event such Loan is not drawndown in full such repayment instalments shall be reduced pro-rata and provided further that any repayment instalments in respect of such Loan due to be repaid on or before 1 January 2010 shall be prepaid on the Drawdown Date of the Loan A Delivery Advancerata. Loan B Loan B will be repaid by (i) 20 40 quarterly instalments each of $417,500 and (ii) a balloon instalment of $16,650,000 8,300,000 payable simultaneously with the last such quarterly instalment commencing with a first such quarterly instalment to be paid on the date falling three months after the Drawdown Date of the Loan B Delivery Advance and thereafter at three monthly intervals Provided that in the event such Loan is not drawndown in full such repayment instalments shall be reduced pro-rata. Loan C Loan C will be repaid by (i) 20 40 quarterly instalments each of $417,500 and (ii) a balloon instalment of $16,650,000 8,300,000 payable simultaneously with the last such quarterly instalment commencing with a first such quarterly instalment to be paid on the date falling three months after the Drawdown Date of the Loan C Delivery Advance and thereafter at three monthly intervals Provided that in the event such Loan is not drawndown in full such repayment instalments shall be reduced pro-rata. Loan D Loan D will be repaid by (i) 20 40 quarterly instalments each of $417,500 and (ii) a balloon instalment of $16,650,000 8,300,000 payable simultaneously with the last such quarterly instalment commencing with a first such quarterly instalment to be paid on the date falling three months after the Drawdown Date of the Loan D Delivery Advance and thereafter at three monthly intervals Provided that in the event such Loan is not drawndown in full such repayment instalments shall be reduced pro-rata. Loan E Loan E will be repaid by (i) 40 quarterly instalments each of $417,500 and (ii) a balloon instalment of $8,300,000 payable simultaneously with the last such quarterly instalment commencing with a first such quarterly instalment to be paid on the date falling three months after the Drawdown Date of the Loan E Delivery Advance and thereafter at three monthly intervals Provided that in the event such Loan is not drawndown in full such repayment instalments shall be reduced pro-rata. Loan F Loan F will be repaid by (i) 40 quarterly instalments each of $417,500 and (ii) a balloon instalment of $8,300,000 payable simultaneously with the last such quarterly instalment commencing with a first such quarterly instalment to be paid on the date falling three months after the Drawdown Date of the Loan F Delivery Advance and thereafter at three monthly intervals Provided that in the event such Loan is not drawndown in full such repayment instalments shall be reduced pro-rata. MANDATORY COST FORMULA 1 The Mandatory Cost is an addition to the interest rate to compensate Lenders for the cost of compliance with (a) the requirements of the Financial Services Authority (or any other authority which replaces all or any of its functions) or (b) the requirements of the European Central Bank.

Repayment Instalments. Loan A Loan A shall will be repaid by (i) 20 quarterly instalments each of in an amount equal to $417,500 and (ii) together with a balloon instalment in amount equal to such amount outstanding in respect of $16,650,000 payable simultaneously with Loan A as at the last such quarterly instalment commencing with a Final Repayment Date, the first such quarterly instalment to be paid falling due on the Drawdown Date in respect of the Loan A Delivery Advance, the second instalment falling due on the date falling three 6 months after the Drawdown Date in respect of the Loan A Delivery Advance and subsequent instalments falling due at 3 month intervals thereafter at three monthly intervals Provided that in and the event such Loan is not drawndown in full such repayment instalments balloon instalment falling due on the Final Repayment Date. The Agent shall be reduced pro-rata and provided further that any repayment instalments on the Delivery Date in respect of Ship A deliver to the Borrowers and the Creditor Parties a revised repayment schedule setting out the dates on which each instalment is due and the amount of each such Loan due to be repaid on or before 1 January 2010 shall be prepaid on the Drawdown Date of the Loan A Delivery Advanceinstalment. Loan B Loan B will be repaid by (i) 20 quarterly instalments each of in an amount equal to $417,500 and (ii) together with a balloon instalment in amount equal to such amount outstanding in respect of $16,650,000 payable simultaneously with Loan B as at the last such quarterly instalment commencing with a Final Repayment Date, the first such quarterly instalment to be paid on the date falling due three months after from the Drawdown Date in respect of the Loan B Delivery Advance and subsequent instalments falling due at 3 month intervals thereafter at three monthly intervals Provided that and the balloon instalment falling due on the Final Repayment Date. The Agent shall on the Delivery Date in respect of Ship B deliver to the event Borrowers and the Creditor Parties a revised repayment schedule setting out the dates on which each instalment is due and the amount of each such Loan is not drawndown in full such repayment instalments shall be reduced pro-ratainstalment. Loan C Loan C will be repaid by (i) 20 quarterly instalments each of in an amount equal to $417,500 and (ii) together with a balloon instalment in amount equal to such amount outstanding in respect of $16,650,000 payable simultaneously with Loan C as at the last such quarterly instalment commencing with a Final Repayment Date, the first such quarterly instalment to be paid on the date falling due three months after from the Drawdown Date in respect of the Loan C Delivery Advance and subsequent instalments falling due at 3 month intervals thereafter at three monthly intervals Provided that and the balloon instalment falling due on the Final Repayment Date. The Agent shall on the Delivery Date in respect of Ship C deliver to the event Borrowers and the Creditor Parties a revised repayment schedule setting out the dates on which each instalment is due and the amount of each such Loan is not drawndown in full such repayment instalments shall be reduced pro-ratainstalment. Loan D Loan D will be repaid by (i) 20 quarterly instalments each of in an amount equal to $417,500 and (ii) together with a balloon instalment in amount equal to such amount outstanding in respect of $16,650,000 payable simultaneously with Loan D as at the last such quarterly instalment commencing with a Final Repayment Date, the first such quarterly instalment to be paid on the date falling due three months after from the Drawdown Date in respect of the Loan D Delivery Advance and subsequent instalments falling due at 3 month intervals thereafter at three monthly intervals Provided that and the balloon instalment falling due on the Final Repayment Date. The Agent shall on the Delivery Date in respect of Ship D deliver to the event Borrowers and the Creditor Parties a revised repayment schedule setting out the dates on which each instalment is due and the amount of each such Loan is not drawndown in full such repayment instalments shall be reduced pro-ratainstalment.