Total Loss Proceeds definition

Total Loss Proceeds means the proceeds of any insurance or any compensation or similar payment arising in respect of a Total Loss.

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Total Loss Proceeds means, in relation to an ACS Group Aircraft, the total net proceeds of the insurance and reinsurance paid in respect of a Total Loss thereof and includes, in the case of a Total Loss of an airframe which does not involve the Total Loss of all Engines or Parts installed thereon at the time when such Total Loss occurred, the net sale proceeds of any such surviving Engines or Parts.

Total Loss Proceeds means all Insurance Proceeds payable in respect of a Total Loss.

Examples of Total Loss Proceeds in a sentence

• LESSEE's obligation to pay Rent will continue in full force and effect, but an amount equal to the Net Total Loss Proceeds received by LESSOR with respect to such destroyed Engine will, subject to LESSOR's right to deduct therefrom any amounts then due and payable by LESSEE under this Lease, be paid to LESSEE.

• In the event that the Vessel becomes a Total Loss, on the earlier to occur of (a) the date of receipt of the Total Loss Proceeds and (b) the date falling one hundred and eighty (180) days after the occurrence of the Total Loss, the Total Commitments shall be reduced to zero.

• If the Ship becomes a Total Loss after the Delivery Date, on the Total Loss Payment Date the Lessee will pay to the Lessor the amounts pursuant to and determined in accordance with clause 18.4. Any Total Loss Proceeds or any Requisition Compensation actually and unconditionally received by the Lessor following a Total Loss or Compulsory Acquisition will be applied in accordance with clause 14.3.

• The Lease Period will end on the date on which all sums due under clause 14.2 have been paid provided however that if the Net Total Loss Proceeds are insufficient to satisfy the amounts to be retained by the Lessor pursuant to the applications in “FIRST”, “SECOND” and “THIRD” set out in clause 14.3, the provisions of clause 5.3 shall apply.

• Moneys, other than Total Loss Proceeds, received by the Lessor in respect of claims for repairable damage to the Ship shall be applied in the manner described in clause 13.4.2(b).

More Definitions of Total Loss Proceeds

Total Loss Proceeds means the proceeds of the Insurances or any other compensation of any description in respect of a Total Loss unconditionally received and retained by or on behalf of the Owners in respect of a Total Loss.

Total Loss Proceeds means the proceeds of any policy or contract of insurance arising in respect of a Total Loss actually and unconditionally received by the Lessor following a Total Loss of the Ship;

Total Loss Proceeds means the proceeds of the hull Insurances in respect of an Aircraft or any compensation for a Compulsory Acquisition of an Aircraft, in each case, with respect to a Total Loss;

Total Loss Proceeds means the proceeds of the hull Insurances in respect of an Aircraft or any compensation for a Compulsory Acquisition of an Aircraft, with respect to a Total Loss.

Total Loss Proceeds means any amounts payable to NAC 29 or its Subsidiaries in respect of, or as compensation for, the Total Loss of an Aircraft Asset (including pursuant to any policies of insurance maintained in respect of such Aircraft Asset), other than any Excluded Amounts.

Total Loss Proceeds in relation to the Haewene Brim Equipment means any compensation or insurance proceeds received by the Lessor in respect of a Total Loss of the Haewene Brim Equipment which the Lessor is, as against the payer thereof, unconditionally entitled to retain;

Total Loss Proceeds in relation to the Vessel means any compensation or insurance proceeds received by the Lessor in respect of a Total Loss of the Vessel which the Lessor is, as against the payer thereof, unconditionally entitled to retain;