Prepaid Amount definition
Examples of Prepaid Amount in a sentence
At the request of Holder, upon surrender of this Warrant, the Corporation shall promptly issue new Warrants in the aggregate outstanding Prepaid Amount hereof, in the form hereof, in such denominations as Holder shall request.
In the event of partial exercise, please reissue an appropriate Warrant(s) for the portion of the Prepaid Amount which shall not have been exercised.
The Borrower’s obligation to repay the Prepaid Amount (as defined in the Charter) or (as applicable) an amount equal to the Surplus Prepayment (as defined in the Charter) and to pay sums due under section 39.2(b)(iv) of the Charter and also the Borrower’s obligation to repay any hire paid in advance but not earned, shall be secured by third priority security similar to the first and second priority security referred to above.
For the avoidance of doubt (A) there is no obligation on Owner at any time to apply the Prepaid Amount in discharge of any Net Amount; (B) if Owner does not make any such application then all Owner’s other rights under this Charter resulting from Charterer’s non-payment of the Net Amount shall be preserved; and (C) the Prepaid Amount shall not be applied in or towards the Financial Cost Component of Hire pursuant to this section 11.
Charterer has become entitled under any provision of this Charter not to make payment of the Net Amount, then such application of the Prepaid Amount shall be cancelled and the level of the Prepaid Amount that existed immediately prior to such application shall be reinstated.