Relevant Advance definition

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

Relevant Advance means the Advance which is being made available, “Relevant Vessel” means the Vessel in respect of which that Advance is being made available and “Relevant Shipbuilding Contract” means the Shipbuilding Contract in respect of the Relevant Vessel.

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

• 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.

• 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.

• 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.

• 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.

• Payment of AdvancesAccounting for Advances to Contractors / Suppliers / Vendors4.1 Relevant Advance Ledger Account Dr. To Bank AccountTo TDS PayableTo Security Deposit(being amount paid to after deducting tax atsource through payment voucher) Adjustment of Advance4.2 Expenditure Account Head Dr.To Relevant Advance Ledger Account(being advance amount adjusted through journal voucher)5.

More Definitions of Relevant Advance

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, with respect to any Aircraft, the amount to be advanced by the Lender to the Borrower on the Relevant Borrowing Date with respect to such Aircraft pursuant to Section 2.1 and the Loan Agreement.

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

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

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

Relevant Advance means the Advance which is to be drawn down, “Relevant Ship” means the Ship to be financed thereby and “Relevant Owner” means the Borrower which is the buyer of the Relevant Ship.