Common use of Before drawdown Clause in Contracts

Before drawdown. On a Ship being sold or becoming a Total Loss (or suffering damage or being involved in an incident which in the opinion of the Agent may result in such Ship being subsequently determined to be a Total Loss) before the Advance in respect of such Ship is drawn down, the obligation of the Banks to make such Advance available shall immediately cease and the Total Commitment shall be reduced by the amount of such Advance.

Before drawdown. On a Ship being sold or becoming a Total Loss (or suffering damage or being involved in an incident which in the reasonable opinion of the Agent may result in such Ship being subsequently determined to be a Total Loss) ), in each case before the Advance in respect of for such Ship is drawn down, the obligation of the Banks to make advance the Advance for such Advance available Ship shall immediately cease and the Total Commitment shall be reduced by the amount of such Advance.

Before drawdown. On a Ship being sold or becoming a Total Loss (or suffering damage or being involved in an incident which in the opinion of the Agent may result in such Ship being subsequently determined to be a Total Loss) before the Tranche or (as the case may be) Advance in respect of relevant to such Ship is drawn down, the obligation obligations of the Banks to make such Tranche or (as the case may be) Advance available shall immediately cease and the Total Commitment shall be immediately reduced by the total amount of such Tranche or (as the case may be) Advance.

Before drawdown. On a Ship being sold or becoming a Total Loss (or suffering damage or being involved in an incident which in the opinion of the Agent may result in such Ship being subsequently determined to be a Total Loss) or on a Ship being sold, in each case before the Advance in respect of for such Ship is drawn down, the obligation of the Banks to make advance the Advance for such Advance available Ship shall immediately cease and the Total Commitment shall be reduced by the amount of such Advance.

Before drawdown. On a Ship being sold or becoming a Total Loss (or suffering damage or being involved in an incident which in the opinion of the Agent may result in such Ship being subsequently determined to be a Total Loss) before the Advance in respect of such Ship is drawn down, the obligation obligations of the Banks to make the Advance for such Advance Ship available shall immediately cease and the Total Commitment shall be immediately reduced by the amount of the Advance for such AdvanceShip.

Before drawdown. On a Ship being sold or becoming a Total Loss (or suffering damage or being involved in an incident which in the reasonable opinion of the Agent may will result in such Ship being subsequently determined to be a Total LossLoss or otherwise prejudices the security) before the Advance in respect of such Ship is drawn downDrawdown Date, the obligation of the Banks to make such Advance available shall immediately cease and the Total Commitment shall be reduced by an amount equal to the amount Allocated Amount for that Ship and the obligation of such Advancethe Banks to advance the part of the Total Commitment that was so cancelled shall immediately cease.

Before drawdown. On a Ship being sold or becoming a Total Loss (or suffering damage or being involved in an incident which in the opinion of the Agent may result in such Ship being subsequently determined to be a Total Loss) before the Advance in respect of such Ship is drawn down, the obligation obligations of the Banks to make the Advance for such Advance Ship available shall immediately cease and the Total Commitment shall be reduced by the amount of the Advance for such AdvanceShip.

Before drawdown. On a Ship being sold or becoming a Total Loss (or suffering damage or being involved in an incident which in the opinion of the Agent may result in such Ship being subsequently determined to be a Total Loss) before the Advance in respect of such Ship is drawn down, the obligation obligations of the Banks to make such Advance available shall immediately cease and the Total Commitment shall be reduced by the amount of such Advance.