Thereafter. (a) If a Mortgaged Ship is sold (with the prior consent of the relevant Creditors pursuant to the relevant Ship Security Documents) or becomes a Total Loss prior to the last day of the last Drawdown Period to elapse, then the Borrowers shall, on the Disposal Reduction Date for such Mortgaged Ship, prepay the Tranche relevant to such Mortgaged Ship in full (subject to clause 4.3.3(c)).
Appears in 7 contracts
Samples: Tenth Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Agreement (Aegean Marine Petroleum Network Inc.), Supplemental Agreement (Aegean Marine Petroleum Network Inc.)
Thereafter. (a) If a Mortgaged Ship is sold (with the prior consent of the relevant Creditors pursuant to the relevant Ship Security Documents) or becomes a Total Loss prior to the last day of the last Drawdown Period to elapseTermination Date, then the Borrowers shall, on the Disposal Reduction Date for such Mortgaged Ship, prepay the Tranche relevant to such Mortgaged Ship in full (subject to clause 4.3.3(c)).
Appears in 2 contracts
Samples: Agreement (Aegean Marine Petroleum Network Inc.), Agreement (Aegean Marine Petroleum Network Inc.)
Thereafter. (a) If a Borrower's Mortgaged Ship is sold (with the prior consent of the relevant Creditors pursuant to the relevant Ship Security Documents) or becomes a Total Loss prior to the last day of the last Drawdown Period to elapse, then the Borrowers shall, on the Disposal Reduction Date for such Mortgaged Ship, prepay the Tranche relevant to such Mortgaged Ship in full (subject to clause 4.3.3(c)).
Appears in 1 contract
Samples: Corporations and Companies (Aegean Marine Petroleum Network Inc.)
