Examples of Loss Date in a sentence
LESSEE will notify LESSOR in writing within two (2) Business Days after a Total Loss Date of the Aircraft, Airframe or any Engine.
Loss Date and until receipt by LESSOR of the Agreed Value and all other amounts then due under this Lease, LESSEE will continue to pay Rent and the parties will perform all of their other obligations under this Lease.
If an Event of Loss occurs at any time with respect to any Other Mortgaged Rig, the Indenture and the applicable Other Loan Agreement require that the Company shall apply funds to the principal amount of the applicable Other Loan secured by the Other Mortgaged Rig outstanding on the Loss Date for such other Mortgaged Rig, together with all accrued and unpaid interest (including Special Interest, if any, and Additional Amounts, if any) thereon, to the payment of such Other Loan.
If an Event of Loss occurs at any time with respect to the Mortgaged Rig attributable to the Loan, the Company shall apply funds in an amount (the "Loss Redemption Amount") equal to the principal amount of the Loan outstanding on the date (the "Loss Date") on which such Event of Loss was deemed to have occurred, together with all accrued and unpaid interest (including Special Interest, if any, and Additional Amounts, if any) thereon, to the prepayment of the Loan.
In the event that any of the Rigs shall suffer a Total Loss, the Obligors shall, within a period of ninety (90) days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, and the insurance proceeds shall be paid to the Agent for application in accordance with Clause 10.1 (Total Loss or sale).