Advance F definition

Advance F means the advance equal to the lesser of (i) USD22,000,000 and (ii) 50% of the Valuation Amount of Vessel F determined no more than 10 days prior to the Drawdown Date relating thereto, to be applied in refinancing such Vessel or, as the context requires, the amount thereof outstanding from time to time;

Advance F means the advance of USD30,000,000, to be applied in re-financing part of the purchase price of Chilali;

Advance F means an advance of the Total Commitments up to the lesser of (a) the Ship Commitment in respect of Ship F and (b) 65% of the Delivery Price of Ship F on the Utilisation Date relative to such Advance, comprising a KEXIM Facility Advance, a K-Sure Facility Advance and a Commercial Facility Advance, each in the Relevant Percentage of such Advance, or (as the context may require) the outstanding principal amount of such borrowing.

Examples of Advance F in a sentence

• The Lenders, relying upon each of the representations and warranties in Clause 4 and subject to Clause 3, agree to make Advance F available to the Borrower upon and subject to the terms of this Agreement and the Facility Agreement to enable the Borrower to on-lend the same to the Shareholder to refinance in part the purchase of Chilali.

• The participation of a Lender in an Advance will be calculated using the following formula: P = C/F x A where: P = the participation of that Lender in the Advance C = the Available Commitment of that Lender on the Advance Date for that Advance F = the aggregate Available Commitments of all the Lenders on that Advance Date A = the amount of the Advance.

• The participation of a Lender in an Advance will be calculated using the following formula: P = C x A - F where: P = the participation of that Lender in the Advance C = the Available Revolving Facility Commitment of that Lender on the Advance Date for that Advance F = the aggregate Available Revolving Facility Commitments of all the Lenders on that Advance Date A = the amount of the Advance.

• Subject to the terms of this Agreement, the obligations of the Lenders shall be to contribute to Advance F as to 50% each.

• Subject to the other provisions of this Agreement, the Lenders shall make available to the Borrowers a senior secured term loan facility of up to $64,200,000, in up to six Advances, Advance A, Advance B, Advance C, Advance D, Advance E and Advance F, for the purpose stated in the preamble to this Agreement.

• The participation of a Lender in an Advance will be calculated using the following formula: C P = - x A F where: P = the participation of that Lender in the Advance; C = the Available Commitment of that Lender on the Advance Date for that Advance; F = the aggregate Available Commitments of all the Lenders on that Advance Date; and A = the amount of the Advance.

More Definitions of Advance F

Advance F means an amount equal to the least of (i) $2,425,000,, (ii) 55% of the Fair Market Value of Ship M and (iii) an amount which, when added to the Advances which have been drawn down on or prior to Advance F will equal 55% of the aggregate Fair Market Values of all the Guarantor Ships which will be subject to a Mortgage on the Drawdown Date in respect of Advance F, to be applied in or towards financing or refinancing the acquisition of Ship M or, as the context requires, the amount thereof outstanding from time to time;

Advance F means a borrowing of a part of the Total Commitments by the Borrowers up to the Ship Commitment in respect of Ship F, which is to be made available in relation to Ship F, and comprising a Commercial Facility Advance, a KEXIM Facility Advance, a KEXIM Covered Facility Advance and a K-sure Facility Advance, each in the Relevant Percentage of such Advance, or (as the context may require) the outstanding principal amount of such borrowing.

Advance F means the Post-Delivery Junior Facility Advance related to Newbuilding B and referred to in Clause 4.5(b);

Advance F means the principal amount of the borrowing by the Borrowers under this Agreement in respect of Ship F or, as the context may require, the principal amount outstanding of such Advance in respect of that Ship under this Agreement.

Advance F means a borrowing of a part of the Total Commitments by the Borrower up to the Ship Commitment in respect of Ship F, which is to be made available in relation to Ship F, or (as the context may require) the outstanding principal amount of such borrowing.