Common use of Prepayment if Event of Loss Clause in Contracts

Prepayment if Event of Loss. In the event that the Vessel suffers an Event of Loss, as such term is defined in the Credit Agreement, then and in each such case the Shipowner shall forthwith repay the Indebtedness hereby secured at the time and in the amount set forth in Section 4.02(c) of the Credit Agreement except to the extent such amounts have otherwise been paid as therein provided.

Prepayment if Event of Loss. In the event that the Vessel suffers an Event of Loss, Loss as such term is defined in the Credit Agreement, then and in each such case the Shipowner shall forthwith repay the Indebtedness hereby secured at the time and in the amount set forth in Section 4.02(c2.05(d) of the Credit Agreement except to the extent such amounts have otherwise been paid as therein providedAgreement.