Common use of Total Loss Clause in Contracts

Total Loss. In the event that the Vessel shall suffer a Total Loss, the Borrower shall, within a period of 90 days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of insurance proceeds in respect of the Total Loss, apply such proceeds as prepayment of the Loans.

Total Loss. In the event that the Vessel shall suffer a Total Loss, the Borrower shall, within a period of 90 days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of insurance proceeds in respect of the Total Loss, apply such proceeds as prepayment of the LoansLoan.

Total Loss. In the event that the Vessel shall suffer a Total Loss, the Borrower shall, within a period of 90 one hundred and eighty (180) days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of and the insurance proceeds shall be applied in respect of the Total Loss, apply such proceeds as prepayment of the LoansLoan in accordance with Clause 7.1 (Mandatory prepayment - Total Loss or sale).

Total Loss. In the event that the a Vessel shall suffer a Total Loss, the Borrower Borrowers shall, within a period of 90 thirty (30) days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of and the insurance proceeds shall be paid to the Agent for application in respect of accordance with Clause 32.2 (Distributions by the Total Loss, apply such proceeds as prepayment of the LoansAgent).

Total Loss. In the event that any of the Vessel Vessels shall suffer a Total Loss, the Borrower Obligors shall, within a period of 90 one hundred and twenty (120) days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of insurance and the Insurance proceeds shall be applied in respect of the Total Loss, apply such proceeds as prepayment of the Loansrelevant Loan in accordance with Clause 8.1 (Total Loss or sale).

Total Loss. In the event that any of the Vessel Vessels shall suffer a Total Loss, the Borrower Obligors shall, within a period of 90 one hundred and eighty (180) days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of insurance and the Insurance proceeds shall be applied in respect of the Total Loss, apply such proceeds as prepayment of the Loansrelevant Loan in accordance with Clause 8.1 (Total Loss or sale).

Total Loss. In the event that any of the Vessel Vessels shall suffer a Total Loss, the Borrower shall, within a period of 90 one hundred and twenty (120) days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of insurance and the Insurance proceeds shall be applied in respect of the Total Loss, apply such proceeds as prepayment of the Loansrelevant Loan in accordance with Clause 7.1 (Mandatory prepayment - Total Loss or sale).

Total Loss. In the event that any of the Vessel Vessels shall suffer a Total Loss, the Borrower shall, within a period of 90 ninety (90) days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of and the insurance proceeds shall be applied in respect of the Total Loss, apply such proceeds as prepayment of the LoansLoan in accordance with Clause 7.1 (Mandatory prepayment - Total Loss or sale).

Total Loss. In the event that the a Vessel shall suffer a Total Loss, the Borrower shall, within a period of 90 ninety (90) days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of insurance and the Insurance proceeds shall be applied in respect of the Total Loss, apply such proceeds as prepayment of the Loansrelevant Loan in accordance with Clause 8.1 (Mandatory prepayment - Total Loss or sale).

Total Loss. In the event that the a Vessel shall suffer a Total Loss, the Borrower Borrowers shall, within a period of 90 ninety (90) days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of and the insurance proceeds shall be applied in respect of the Total Loss, apply such proceeds as prepayment of the Loansrelevant Loan in accordance with Clause 7.1 (Mandatory prepayment – Total Loss or sale).

Total Loss. In the event that any of the Vessel Vessels shall suffer a Total Loss, the Borrower Borrowers shall, within a period of 90 ninety (90) days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of and the insurance proceeds shall be applied in respect of the Total Loss, apply such proceeds as prepayment of the LoansLoan in accordance with Clause 7.1 (Mandatory prepayment - Total Loss or sale).

Total Loss. In the event that the a Vessel shall suffer a Total Loss, the Borrower shall, within a period of 90 ninety (90) days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of insurance and the Insurance proceeds shall be applied in respect of the Total Loss, apply such proceeds as prepayment of the Loansrelevant Loan in accordance with Clause 8.1 (Mandatory prepayment – Total Loss or sale).

Total Loss. In the event that any of the Vessel Vessels shall suffer a Total Loss, the Borrower shall, and procure that each of the Owning Companies within a period of 90 days after the Total Loss DateLoss, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of and the insurance proceeds in respect shall as soon as they have been released be paid to the Agent (on behalf of the Total Loss, apply such proceeds as prepayment Banks) and subject to the First Deeds of the LoansAssignment.

Total Loss. In the event that the Vessel shall suffer a Total Loss, the Borrower shall, within a period of 90 days after the Total Loss Dateoccurrence of such event, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – and promptly upon receipt of insurance proceeds in respect of the Total Loss, apply such proceeds as prepayment of the LoansLoan pursuant to Clause 6.3.

Total Loss. In the event that the Vessel shall suffer a Total Loss, the Borrower shall, within a period of 90 ninety (90) days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of and the insurance proceeds shall be applied in respect of the Total Loss, apply such proceeds as prepayment of the LoansLoan in accordance with Clause 7.4 (Mandatory prepayment—Total Loss or sale).

Total Loss. In the event that the a Vessel shall suffer a Total Loss, the Borrower shall, within a period of 90 ninety (90) days after the Total Loss DateDate (or such later date reasonably acceptable to the Agent), obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of insurance and the Insurance proceeds shall be applied in respect of the Total Loss, apply such proceeds as prepayment of the Loansrelevant Loan in accordance with Clause 8.1 (Mandatory prepayment – Total Loss or sale).

Total Loss. In the event that the Vessel shall suffer a Total Loss, the Borrower shall, within a period of 90 ninety (90) days after the Total Loss Date, obtain and present to the AgentLender, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of insurance proceeds in respect of the Total Loss, apply such proceeds as prepayment of the Loans.

Total Loss. In the event that the Vessel shall suffer a Total Loss, the Borrower shall, within a period of 90 one hundred and twenty (120) days after the Total Loss DateDate (or sixty (60) days in the event of a requisition for hire), obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of and the insurance proceeds shall be applied in respect of the Total Loss, apply such proceeds as prepayment of the LoansLoan in accordance with Clause 7.1 (Mandatory prepayment — Total Loss or sale).

Total Loss. In the event that any of the Vessel Vessels shall suffer a Total Loss, the Borrower shall, within a period of 90 one hundred and twenty (120) days after the Total Loss Date, obtain and present to the Agent, a written confirmation from the relevant insurers that the claim relating to the Total Loss has been accepted in full, or – if sooner – promptly upon receipt of insurance and the Insurance proceeds shall be applied in respect of the Total Loss, apply such proceeds as prepayment of the Loans.relevant Loan in accordance with Clause 7 1 (Mandatory prepayment - Total Loss or sale)