Definition of Terance Delivery Advance

  1. Terance Delivery Advance means an Advance of up to $53,480,000 made or (as the context may require) to be made available to the Borrowers on the Delivery Date of the Terance Ship for the purpose of financing part of the construction and acquisition cost of the Terance Ship by the Terance Borrower pursuant to the Terance Contract;

Definition of Terance Delivery Advance in Facility Agreement

Terance Delivery Advance means an Advance of up to $53,480,000 made or (as the context may require) to be made available to the Borrowers on the Delivery Date of the Terance Ship for the purpose of financing part of the construction and acquisition cost of the Terance Ship by the Terance Borrower pursuant to the Terance Contract;