Call Option Price. If HLL exercises the Call Option with respect to any MOA, HLL or its designee shall (i) unless the Call Option Triggering Event is an Event of SFL Default, pay to Holdings an amount equal to all out-of-pocket costs and expenses incurred by Holdings in connection with the subject MOA and/or the financing of the Vessel covered thereby which have not been previously paid or reimbursed by HLL, and (ii) cause the return of the deposit provided by Holdings (whether in the form of cash or a letter of credit and including any interest earned on such cash deposit) as a condition to Holdings making such assignment.
Appears in 2 contracts
Sources: Agreement to Acquire and Charter (Horizon Lines, Inc.), Agreement to Acquire and Charter (Horizon Lines, Inc.)