Relevant Advance definition

Relevant Advance means the borrowing of the Tranche relating to the Relevant Ship.

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Relevant Advance means the Advance which is being made available, “Relevant Ship” means the Ship in respect of which that Advance is being made available and “Relevant Owner” means the Owner which is the buyer of the Relevant Ship.

Relevant Advance means, in respect of Vessel A, Advance A and in respect of Vessel B, Advance B;

Examples of Relevant Advance in a sentence

• A duly issued invoice from the Builder showing all sums due and payable to the Builder pursuant to the Relevant Shipbuilding Contract upon delivery of the Relevant Vessel together with evidence that all amounts payable thereunder (in addition to the part to be paid by the Relevant Advance) have been duly paid.

• If the Borrower wishes to accept the Special Rate Terms proposed for that Relevant Advance in the amount equal to the Relevant Amount, it shall so inform the Special Rate Agent during that Special Rate Call.

• Consequently, from the Special Rate Commencement Date, the Relevant Advance in the amount equal to the Relevant Amount shall be designated as a ‘Special Rate Advance’ and interest shall be paid by the Borrower on such Special Rate Advance at the relevant Special Rate Basis for the duration of the Special Rate Funding Period.

• A Special Rate Request so served by the Borrower is irrevocable and will not be considered to be duly completed unless it specifies: (i) whether it is requesting a fixed rate, a capped rate or collar rate for the Relevant Advance; (ii) if such request is in respect of part of an Advance only, the amount of the Relevant Advance; and (iii) the proposed Special Rate Expiry Date (which shall be an Interest Payment Date) for that Relevant Advance.

• The Borrower shall execute the Swap Confirmation in respect of each Advance within 5 (five) Business Days calculated from the Relevant Advance Date.

More Definitions of Relevant Advance

Relevant Advance means the borrowing of the Advance relating to the Relevant Initial Ship.

Relevant Advance means, in relation to each Ship, the Advance which shall be used to part-finance the acquisition of such Ship payable pursuant to the applicable Shipbuilding Contract;

Relevant Advance means, in relation to each New Ship or New Company, the New Ship Advance which shall be used to part-finance the acquisition of such New Ship or New Company;

Relevant Advance means an Advance or part of an Advance which is subject to a Special Rate Request.

Relevant Advance means, in respect of Vessel A, Advance A, in respect of Vessel B, Advance B and in respect of Vessel C, Advance C;

Relevant Advance means the Advance which was used to finance or refinance the deposit for the Ship which has been sold, become a Total Loss or whose MOA has been cancelled, rescinded or been terminated.

Relevant Advance for such purpose being:-