Common use of Scheduled Repayments Clause in Contracts

Scheduled Repayments. (a) The Borrowers shall repay the Rig Advances by consecutive semi annual repayments in the amounts as set out, on an indicative basis, in Schedule 7 (Indicative Repayments/Reductions) and the first repayment shall occur six months after the Utilisation Date in respect of such Rig Advances. The repayments received by the Agent in respect of the Rig Advances shall be applied against each Rig Advance on a pro rata basis as between each Facility. (b) On or around the Utilisation Date relating to the Rig Advances in respect of a Rig, the Agent shall (if deemed necessary by the Agent) provide to the Lenders and the Borrowers a repayment and reduction schedule (a “Repayment Schedule”) for the relevant Rig Advances setting out the repayment dates and the amount of each instalment for such Rig. Each Repayment Schedule shall be binding on the Borrowers and the Lenders.

Scheduled Repayments. (a) The Borrowers Each Borrower shall repay the Rig Advances made to it by consecutive semi annual quarterly repayments in the amounts as set out, on an indicative basis, out in Schedule 7 6 (Indicative Repayments/Reductions) and the first repayment shall occur six three months after the Utilisation Date in respect of such Rig Advances. The repayments received by the Agent in respect of the Rig Advances shall be applied against each Rig Advance on a pro rata basis as between each Facility. (b) On or around the Utilisation Date relating to the Rig Advances in respect of a Rig, the Agent shall (if deemed necessary by the Agent) provide to the Lenders and the Borrowers each Borrower a repayment and reduction schedule (a “Repayment Schedule”) for the relevant Rig Advances setting out the repayment dates and the amount of each instalment for such Rig. Each Repayment Schedule shall be binding on the Borrowers and the Lenders.

Scheduled Repayments. (a) The Borrowers Borrower shall repay the Rig Advances by consecutive semi semi-annual repayments in the amounts as set out, on an indicative basis, in Schedule 7 (Indicative Repayments/Reductions) and the first repayment shall occur six months after the Utilisation Date in respect of such Rig Advances. The repayments received by the Agent in respect of the Rig Advances shall be applied against each Rig Advance on a pro rata basis as between each Facility. (b) On or around the Utilisation Date relating to the Rig Advances in respect of a the Rig, the Agent shall (if deemed necessary by the Agent) provide to the Lenders and the Borrowers Borrower a repayment and reduction schedule (a “Repayment Schedule”) for the relevant Rig Advances setting out the repayment dates and the amount of each instalment for such the Rig. Each Repayment Schedule shall be binding on the Borrowers Borrower and the Lenders.