Sale or Total Loss. 7.6.1 If a Ship becomes a Total Loss before its Ship Commitment has become available for borrowing under this Agreement, the Total Commitments shall immediately be reduced by the Ship Commitment for such Ship and such Ship Commitment shall be reduced to zero.
Appears in 4 contracts
Samples: Facility Agreement (Navigator Holdings Ltd.), Facility Agreement (Quintana Shipping Ltd.), Facility Agreement (Navigator Holdings Ltd.)
Sale or Total Loss. 7.6.1 7.14 If a Ship becomes a Total Loss before its Ship Commitment has become available for borrowing under this Agreement, the Total Commitments shall immediately be reduced by the Ship Commitment for such Ship and such Ship Commitment shall be reduced to zero.
Appears in 2 contracts
Samples: Facility Agreement, Facility Agreement (Teekay LNG Partners L.P.)
Sale or Total Loss. 7.6.1 (a) If a Ship becomes a Total Loss before its Ship Commitment has become available for borrowing under this Agreement, the Total Commitments shall immediately be reduced by the Ship Commitment for such Ship and such Ship Commitment shall be reduced to zero.
Appears in 2 contracts
Sale or Total Loss. 7.6.1 7.10 If a Ship becomes a Total Loss before its Ship Commitment has become available for borrowing under this Agreement, the Total Commitments shall immediately be reduced by the Ship Commitment for such Ship and such Ship Commitment shall be reduced to zero.
Appears in 1 contract
Samples: Agreement (Globus Maritime LTD)
Sale or Total Loss. 7.6.1 (a) If a Ship becomes a Total Loss before its Ship Commitment has the Total Commitments have become available for borrowing under this Agreement, the Total Commitments shall immediately be reduced by the Ship Commitment for such Ship and such Ship Commitment shall be reduced Applicable Fraction of the Total Commitments immediately prior to zero.the Total Loss. UK-#396550026-v7 Exhibit 4.12
Appears in 1 contract
Samples: Agreement (Navigator Holdings Ltd.)
