Hermes Premium definition
Examples of Hermes Premium in a sentence
In particular, but without limitation, the Borrower shall pay any difference between the amount of the Loans drawn to pay the Hermes Premium, and the Hermes Premium.
All proceeds of the Loans (other than Deferred Loans, which shall be used only for the purpose of paying the principal portion of the repayment instalment of a Loan due on each Repayment Date falling during the relevant Deferral Period) may be used only to finance (i) up to 80% of the Adjusted Construction Price of the Vessel and (ii) up to 100% of the Hermes Premium.
In particular but without limitation it shall be the obligation of the Borrower to pay any difference between the amount of Portion 2 drawn down hereunder and the Hermes Premium.
The Borrower and the Guarantor also jointly and severally undertake to pay on demand the Hermes Premium to be paid in connection with the amendment of the Hermes Cover.
The purpose of the Facility is to finance the Contract Price in part and the Hermes Premium.
Other than the Hermes Premium, there are and will be no commissions, rebates, premiums or other payments by or to or on account of any Obligor or the Builder, their shareholders, directors or officers in connection with the transaction as a whole other than as disclosed to the Agent in writing.
Other than the Hermes Premium, there are and will be no commissions, rebates, premiums or other payments by or to or on account of any Obligor or the Builder, their shareholders or members or directors or members of the management committee in connection with the transaction as a whole other than as disclosed to the Agent in writing.
The Borrower shall apply the Loan in payment of certain of the pre-redelivery instalments due by the Borrower to the Builder under the Building Contract and in payment of the Hermes Premium.
It is acknowledged and agreed that [*]% of the Hermes Premium (the “First Hermes Instalment”) shall be payable directly by the Borrower to Hermes immediately after the execution of this Agreement (which the Borrower hereby agrees to pay from its own funds).
All proceeds of the Loans (other than Deferred Loans, which shall be used only for the purpose of paying the principal portion of the repayment instalment of a Loan due on each Repayment Date falling during the Deferral Period) may be used only to finance (i) up to 80% of the Adjusted Construction Price of the Vessel and (ii) up to 100% of the Hermes Premium.