Purpose Definitions and Interpretation. 1.1 The purpose of the Loan shall be to finance 73.24% of the purchase price of the Ship (as evidenced by the shipbuilding contract in respect of the Ship). 1.2 In this Agreement, unless the context otherwise requires, the following expressions shall have the following meanings:
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Purpose Definitions and Interpretation. 1.1 The purpose of the Loan shall be to finance 73.2470% of the lesser of (a) the purchase price of the Ship (as evidenced by the shipbuilding contract in respect of the Ship) and (b) the market value of the Ship (determined in accordance with Clause 7.3(b)).
1.2 In this Agreement, unless the context otherwise requires, the following expressions shall have the following meanings:
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