Premium Refund. The Parties agree that any refund received from SACE under the ECA Cover Document shall, within fifteen (15) Business Days of receipt by the Lenders or the Agent, be applied in mandatory prepayment of the Loans. As soon as reasonably practicable after applying such refund, the relevant Lender or the Agent (as applicable) shall notify the Borrower of the same.
Appears in 2 contracts
Sources: Loan Agreement (Norwegian Cruise Line Holdings Ltd.), Loan Agreement (Norwegian Cruise Line Holdings Ltd.)