Total Loss Date definition

Total Loss Date means, in relation to a Ship:

Total Loss Date means the date set forth in parenthesis after each Total Loss:

Total Loss Date means with respect to the Aircraft (including for the purposes of this definition, the Airframe) or an Engine:

Examples of Total 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.

• 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).

• The Company shall commence such Offer to Purchase (if any) within thirty (30) days after the Total Loss Date with respect to any such Total Loss.

• Such prepayment shall in the event of Total Loss in any event be made within one hundred and eighty (180) days from the Total Loss Date, in accordance with Clause 7.3 (Mandatory prepayment – sale or Total Loss etc.).

• Notwithstanding anything to the contrary contained in this Charter, if the Vessel shall become a Total Loss:- (a) this Charter shall be deemed as terminated from the Total Loss Date, and the Charterhire shall cease to be payable therefrom; and (b) the Charterers shall pay to the Owners the Total Loss Sum on or before the earlier of (i) the date falling ninety (90) days after the Total Loss Date and (ii) the date of receipt by the Owners of the insurance proceeds relating to such Total Loss.

More Definitions of Total Loss Date

Total Loss Date means, in relation to a Vessel, the date upon which a Total Loss of that Vessel shall be deemed to have occurred, being:

Total Loss Date means the date upon which the Ship is deemed to have become a Total Loss pursuant to clause 22.2.2;

Total Loss Date means: (a) in the case of an actual loss of the Vessel, the date on which it occurred or, if that is unknown, the date when the Vessel was last heard of; (b) in the case of a constructive, compromised, agreed or arranged total loss of the Vessel, the earliest of: (i) the date on which a notice of abandonment is given to the insurers; and (ii) the date of any compromise, arrangement or agreement made by or on behalf of the Owners with the Vessel’s insurers in which the insurers agree to treat the Vessel as a total loss; and (c) in the case of any other type of total loss, on the date (or the most likely date) on which it appears to the Owners that the event constituting the total loss occurred; and

Total Loss Date means:- (a) in the case of an actual loss of the Vessel, the date on which it occurred or, if that is unknown, the date when the Vessel was last heard of; (b) in the case of a constructive, compromised, agreed or arranged total loss of the Vessel, the earliest of: (i) the date on which a notice of abandonment is given to the insurers; and (ii) the date of any compromise, arrangement or agreement made by or on behalf of the Charterers and/or the Owners with the Vessel's insurers in which the insurers agree to treat the Vessel as a total loss; and (c) in the case of any other type of total loss, on the date (or the most likely date) on which it appears to the Owners (in its absolute discretion based on the information available to it) that the event constituting the total loss occurred;

Total Loss Date means: 141(a) in the case of an actual total loss of the Drilling Unit, the date on which it occurred or, if that is unknown, the date when the Drilling Unit was last heard of; 141(b) in the case of a constructive, compromised, agreed or arranged total loss of the Drilling Unit, the earlier of: 141(i) the date on which a notice of abandonment is given to the insurers (provided a claim for total loss is admitted by such insurers) or, if such insurers do not forthwith admit such a claim, at the date at which either a total loss is subsequently admitted by the insurers or a total loss is subsequently adjudged by a competent court of law or arbitration panel to have occurred or, if earlier, the date falling six (6) months after notice of abandonment of such Drilling Unit was given to the insurers; and 141(ii) the date of compromise, arrangement or agreement made by or on behalf of the Borrower with the Drilling Unit's insurers in which the insurers agree to treat the Drilling Unit as a total loss; or 141(c) in the case of any other type of total loss, on the date (or the most likely date) on which it appears to the Agent that the event constituting the total loss occurred.

Total Loss Date have the meanings provided in Section 1.1 of the Mortgage.

Total Loss Date means, in relation to the Total Loss of the Drillship: