Notification of notice of prepayment. The Agent shall notify the Lenders promptly upon receiving a prepayment notice, and shall provide any Lender which so requests with a copy of any document delivered by the Borrower under Clause 8.5(c).
Notification of notice of prepayment. The Agent shall notify the Lenders promptly upon receiving a prepayment notice, and shall provide any Lender which so requests with a copy of any document delivered by the Borrowers under Clause 8.5(c). Mandatory prepayment The Borrowers shall be obliged to prepay the Relevant Amount: if a Ship is sold, on or before the date on which the sale is completed by delivery of that Ship to the buyer; or
Notification of notice of prepayment. The Agent shall notify the Lenders promptly upon receiving a prepayment notice, and shall provide any Lender which so requests with a copy of any document delivered by the Borrower under paragraphs (b) and (c) of Clause 9.7 (Conditions for voluntary prepayment). 9.10 Mandatory prepayment and cancellation on sale, Total Loss, termination of Shipbuilding Contract or occurrence of Retirement Date (a) The relevant proportion of the Total Revolving Commitments shall become a Restricted Amount (and the Borrower shall be obliged to prepay any part of the Advances under the Revolving Facility which exceeds the Total Revolving Commitments less the Restricted Amounts): (i) if an Existing Ship is sold, on or before the date on which the sale is completed by delivery of that Existing Ship to the buyer; or (ii) if an Existing Ship becomes a Total Loss, on the earlier of the date falling 90 days after the Total Loss Date and the date of receipt by the Security Trustee of the proceeds of insurance relating to such Total Loss; or (iii) if the Retirement Date occurs in relation to an Existing Ship, on the date of such occurrence, (b) The relevant proportion of the Total Revolving Commitments shall be cancelled (and the Borrower shall be obliged to prepay any part of the Advances under the Revolving Facility which exceeds the reduced Total Revolving Commitments less any Restricted Amounts other than in relation to the relevant Existing Ship): (i) if an Existing Ship is sold, on or before the date falling 60 days after the date on which the sale is completed by delivery of that Existing Ship to the buyer; or (ii) if an Existing Ship becomes a Total Loss, on the earlier of the date falling 150 days after the Total Loss Date and the date of receipt by the Security Trustee of the proceeds of insurance relating to such Total Loss; or
Notification of notice of prepayment. The Agent shall notify the Lenders promptly upon receiving a prepayment notice, and shall provide any Lender which so requests with a copy of any document delivered by the Borrowers under Clause 8.5(c). Mandatory prepayment The Borrowers shall be obliged to prepay the Relevant Amount if a Ship is sold or becomes a Total Loss: in the case of a sale on or before the date on which the sale is completed by delivery of that Ship to the buyer; or in the case of a Total Loss, on the earlier of the date falling 90 days after the Total Loss Date and the date of receipt by the Security Trustee of the proceeds of insurance relating to such Total Loss.
