Common use of CITIZENSHIP AND TITLE REQUIREMENTS Clause in Contracts

CITIZENSHIP AND TITLE REQUIREMENTS. The Borrower (i) is and shall continue to be a citizen of the United States as defined in section 2 of the Shipping Act, 1916, as amended, for coastwise trade, and (ii) is entitled to own and operate the Vessel under her marine document and shall maintain such marine document in full force and effect. The Note and the Mortgage have been duly executed and delivered, and the Note in the hands of the holder thereof is and will be a valid and enforceable obligation of the Borrower in accordance with its terms. The Borrower lawfully owns and is lawfully possessed of the whole of the Vessel free from any lien whatsoever except the lien of this Mortgage, and liens expressly permitted herein and other Preferred Ship Mortgages in favor of the Government, and covenants that it will warrant and defend the title and possession thereto and every part thereof for the benefit of the Government against the claims and demands of all persons whomever.

CITIZENSHIP AND TITLE REQUIREMENTS. The Borrower BORROWER (i) is and shall continue to be a citizen of the United States as defined in section SECTION 2 of the Shipping Act, 1916, as amended, for coastwise trade, and (ii) is entitled to own and operate the Vessel VESSEL under her marine document and shall maintain such marine document in full force and effect. The Note Notes and the this Mortgage have been duly executed and delivered, and the Note Notes in the hands of the holder thereof is and will be a valid and enforceable obligation of the Borrower BORROWER in accordance with its terms. The Borrower BORROWER lawfully owns and is lawfully possessed of the whole of the Vessel VESSEL free from any lien whatsoever except the lien of this Mortgage, and other liens expressly permitted herein and other Preferred Ship Mortgages in favor by Section 8 of the GovernmentARTICLE II, and covenants that it will warrant and defend the title and possession thereto and every part thereof for the benefit of the Government GOVERNMENT against the claims and demands of all persons whomeveror entities.

CITIZENSHIP AND TITLE REQUIREMENTS. The Borrower BORROWER (i) is and shall continue to be a citizen of the United States as defined in section SECTION 2 of the Shipping Act, 1916, as amended, for coastwise trade, and (ii) is entitled to own and operate the Vessel vessel under her marine document and shall maintain such marine document in full force and effect. The Note Notes and the this Mortgage have been duly executed and delivered, and the Note Notes in the hands of the holder thereof is and will be a valid and enforceable obligation of the Borrower BORROWER in accordance with its terms. The Borrower BORROWER lawfully owns and is lawfully possessed of the whole of the Vessel vessel free from any lien whatsoever except the lien of this Mortgage, and other liens expressly permitted herein and other Preferred Ship Mortgages in favor by Section 8 of the GovernmentARTICLE II, and covenants that it will warrant and defend the title and possession thereto and every part thereof for the benefit of the Government GOVERNMENT against the claims and demands of all persons whomeveror entities.