Events concerning the Vessel. (a) any Vessel becomes a Total Loss or is involved in an incident which in the reasonable opinion of the Bank may result in the Vessel being subsequently determined to be a Total Loss and the insurance indemnity is not paid by the insurers to the Bank under the General Assignment within a period of one hundred eighty (180) days from the date on which the incident which may result in the Vessel being subsequently determined to be a Total Loss occurred; or
Events concerning the Vessel. (a) the Vessel becomes a Total Loss or suffers damage or is involved in an incident which in the reasonable opinion of the Bank may result in the Vessel being subsequently determined to be a Total Loss and the insurance indemnity is not paid by the insurers to the Bank under the General Assignment within a period of one hundred fifty (150) days from the earlier of: (i) the date such Total Loss occurred and (ii) the date on which the incident which in the reasonable opinion of the Bank may result in the Vessel being subsequently determined to be a Total Toss has occurred; or
Events concerning the Vessel. (a) the Vessel becomes a Total Loss unless:
Events concerning the Vessel. 14.5.1. If the Vessel either:
Events concerning the Vessel. 14.5.1 if, due to Borrower’s default, any charter or contract of affreightment relating to the Vessel for the time being mortgaged to the Bank hereunder ceases for more than thirty (30) days (other than complete performance in accordance with its terms) to be in full force and effect.
Events concerning the Vessel. 14.5.1 if the Vessel fails to be delivered to, or accepted by, the Charterer under the Charter in question and/or the Charter is terminated, revoked, cancelled, or repudiated or otherwise ceases to remain in full force and effect, unless either the Charter is substituted by any other Charter acceptable to the Bank in all respects in its sole discretion or additional security is provided for, or if, due to Borrower’s default, any other charter or contract of affreightment relating to the Vessel for the time being mortgaged to the Bank hereunder ceases for more than thirty (30) days (other than complete performance in accordance with its terms) to be in full force and effect.
