Common use of Agreed Total Loss Clause in Contracts

Agreed Total Loss. Mortgagee shall not have the right to enter into an agreement or compromise providing for an agreed or compromised total loss of the Vessel without the prior written consent of Mortgagor unless an Indenture Event of Default has occurred and is continuing. If Mortgagor shall have given its prior consent thereto, or an Indenture Event of Default has occurred and is continuing, Mortgagee shall have the right in its discretion to enter into an agreement or compromise providing for an agreed or compromised total loss of the Vessel, provided the same is agreed to by underwriters under all applicable policies.

Agreed Total Loss. The Mortgagee shall not have the right to ----------------- enter into an agreement or compromise providing for an agreed or compromised total loss of the Vessel without the prior written consent of the Mortgagor unless an Indenture Event of Default has occurred and is continuing. If the Mortgagor shall have given its prior consent thereto, or an Indenture Event of Default has occurred and is continuing, the Mortgagee shall have the right in its discretion to enter into an agreement or compromise providing for an agreed or compromised total loss of the Vessel, provided the same is agreed to by underwriters under all applicable policies.

Agreed Total Loss. The Mortgagee shall not have the right to ----------------- enter into an agreement or compromise providing for an agreed or compromised total loss of the any Vessel without the prior written consent of the Mortgagor unless an Indenture Event of Default has occurred and is continuing. If the Mortgagor shall have given its prior consent thereto, or an Indenture Event of Default has occurred and is continuing,, the Mortgagee shall have the right in its discretion to enter into an agreement or compromise providing for an agreed or compromised total loss of the Vesselsuch Xxxxxx, provided the same is agreed to by underwriters under all applicable policies.