Common use of Scheduled Repayments Clause in Contracts

Scheduled Repayments. The relevant Borrower shall repay each Tranche made to it by consecutive quarterly repayments based on a 12 year profile as set out in Schedule 7 (Repayments). The first repayment of the Tranche utilised on the First Utilisation Date shall occur three (3) months from the First Utilisation Date. In respect of all the Tranches relating to the last two Drillships, the first repayment of such Tranches shall be no later than three (3) months from the relevant Utilisation Date of such Tranches or earlier, so that the repayment in respect of such Tranches occur on the same date as the next repayment in respect of the Tranches utilised on the First Utilisation Date. All repayments shall be allocated pro rata between the Facilities. On the Final Maturity Date of a Tranche the relevant Borrower shall repay that Tranche in full, together with all other sums due and outstanding under the Finance Documents in respect of such Tranche at such date (if any).

Scheduled Repayments. The relevant Borrower shall repay each Tranche made to it by consecutive quarterly repayments based on a 12 year profile as set out in Schedule 7 (Repayments). The first repayment of the Tranche utilised on the First Utilisation Date shall occur three (3) months from the First Utilisation Date. In respect of all the Tranches relating to the last two Drillships, the first repayment of such Tranches shall be no later than three (3) months from the relevant Utilisation Date of such Tranches or earlier, so that the repayment in respect of such Tranches occur on the same date as the next repayment in respect of the Tranches utilised on the First Utilisation Date. All repayments shall be allocated pro rata between the Facilities. Final repayment On the Final Maturity Date of a Tranche the relevant Borrower shall repay that Tranche in full, together with all other sums due and outstanding under the Finance Documents in respect of such Tranche at such date (if any).