Common use of Classification society undertaking Clause in Contracts

Classification society undertaking. Each Borrower shall instruct the classification society referred to in Clause 14.3: (a) to send to the Security Trustee, following receipt of a written request from the Security Trustee, certified true copies of all original class records held by the classification society in relation to its Ship; (b) to allow the Security Trustee (or its agents), at any time and from time to time, to inspect the original class and related records of that Borrower and its Ship at the offices of the classification society and to take copies of them; (c) to notify the Security Trustee immediately in writing if the classification society: (i) receives notification from that Borrower or any other person that its Ship's classification society is to be changed; or (ii) becomes aware of any facts or matters which may result in or have resulted in a change, suspension, discontinuance, withdrawal or expiry of that Ship's class under the rules or terms and conditions of that Borrower's or its Ship's membership of the classification society; and (d) following receipt of a written request from the Security Trustee: (i) to confirm that a Borrower is not in default of any of its contractual obligations or liabilities to the classification society and, without limiting the foregoing, that it has paid in full all fees or other charges due and payable to the classification society; or (ii) if a Borrower is in default of any of its contractual obligations or liabilities to the classification society, to specify to the Security Trustee in reasonable detail the facts and circumstances of such default, the consequences of such default, and any remedy period agreed or allowed by the classification society.

Classification society undertaking. Each The Borrower shall procure that each Owner shall instruct the classification society referred of the Ship owned by it to in Clause 14.3:do all or any of the following after the occurrence of an Event of Default or a Potential Event of Default (and procure that the classification society undertakes with the Security Trustee at such time): (a) to send to the Security Trustee, following receipt of a written request from the Security Trustee, certified true copies of all original class records held by the classification society in relation to its that Ship; (b) to allow the Security Trustee (or its agents), at any time and from time to time, to inspect the original class and related records of that Borrower Owner and its that Ship at the offices of the classification society and to take copies of them; (c) to notify the Security Trustee immediately in writing if the classification society: (i) receives notification from that Borrower Owner or any other person that its that Ship's ’s classification society is to be changed; or (ii) becomes aware of any facts or matters which may result in or have resulted in a change, suspension, discontinuance, withdrawal or expiry of that Ship's ’s class under the rules or terms and conditions of that Borrower's Owner’s or its that Ship's ’s membership of the classification society; and; (d) following receipt of a written request from the Security Trustee: (i) to confirm that a Borrower that Owner is not in default of any of its contractual obligations or liabilities to the classification society and, without limiting the foregoing, that it has paid in full all fees or other charges due and payable to the classification society; or (ii) if a Borrower that Owner is in default of any of its contractual obligations or liabilities to the classification society, to specify to the Security Trustee in reasonable detail the facts and circumstances of such default, the consequences of such defaultthereof, and any remedy period agreed or allowed by the classification society.

Classification society undertaking. Each The Borrower shall instruct the classification society referred to in Clause 14.3: (a) to send to the Security Trustee, following receipt of a written request from the Security Trustee, certified true copies of all original class records held by the classification society in relation to its the Ship; (b) to allow the Security Trustee (or its agents), at any time and from time to time, to inspect the original class and related records of that the Borrower and its the Ship at the offices of the classification society and to take copies of them; (c) to notify the Security Trustee immediately in writing if the classification society: (i) receives notification from that the Borrower or any other person that its the Ship's classification society is to be changed; or (ii) becomes aware of any facts or matters which may result in or have resulted in a change, suspension, discontinuance, withdrawal or expiry of that the Ship's class under the rules or terms and conditions of that the Borrower's or its the Ship's membership of the classification society; and; (d) following receipt of a written request from the Security Trustee: (i) to confirm that a the Borrower is not in default of any of its contractual obligations or liabilities to the classification society and, without limiting the foregoing, that it has paid in full all fees or other charges due and payable to the classification society; or (ii) if a the Borrower is in default of any of its contractual obligations or liabilities to the classification society, to specify to the Security Trustee in reasonable detail the facts and circumstances of such default, the consequences of such default, and any remedy period agreed or allowed by the classification society.

Classification society undertaking. Each The Borrower shall instruct the classification society referred to in Clause 14.313.3: (a) to send to the Security TrusteeLender, following receipt of a written request from the Security TrusteeLender, certified true copies of all original class records and any other related records held by the classification society in relation to its the Ship; (b) to allow the Security Trustee Lender (or its agents), at any time and from time to time, to inspect the original class and related records of that the Borrower and its the Ship at the offices of the classification society and to take copies of them; (c) to notify the Security Trustee Lender immediately in writing if the classification society: (i) receives notification from that the Borrower or any other person that its the relevant Ship's classification society is to be changed; or (ii) becomes aware of any facts or matters which may result in or have resulted in a change, suspension, discontinuance, withdrawal or expiry of that the relevant Ship's class under the rules or terms and conditions of that the Borrower's or its the relevant Ship's membership of the classification society; and (d) following receipt of a written request from the Security TrusteeLender: (i) to confirm that a the Borrower is not in default of any of its contractual obligations or liabilities to the classification society and, without limiting the foregoing, that it has paid in full all fees or other charges due and payable to the classification society; or (ii) if a the Borrower is in default of any of its contractual obligations or liabilities to the classification society, to specify to the Security Trustee Lender in reasonable detail the facts and circumstances of such default, the consequences of such default, and any remedy period agreed or allowed by the classification society.

Classification society undertaking. Each Borrower shall instruct the classification society referred to in Clause 14.3: (a) to send to the Security Trustee, following receipt of a written request from the Security Trustee, certified true copies of all original class records held by the classification society in relation to its Ship; (b) to allow the Security Trustee (or its agents), at any time and from time to time, to inspect the original class and related records of that Borrower and its Ship at the offices of the classification society and to take copies of them; (c) to notify the Security Trustee immediately in writing if the classification society: (i) receives notification from that Borrower or any other person that its Ship's classification society is to be changed; or (ii) becomes aware of any facts or matters which may result in or have resulted in a change, suspension, discontinuance, withdrawal or expiry of that Ship's class under the rules or terms and conditions of that Borrower's or its Ship's membership of the classification society; and (d) following receipt of a written request from the Security Trustee: (i) to confirm that a Borrower is not in default of any of its contractual obligations or liabilities to the classification society and, without limiting the foregoing, that it has paid in full all fees or other charges due and payable to the classification society; or (ii) if a Borrower is in default of any of its contractual obligations or liabilities to the classification society, to specify to the Security Trustee in reasonable detail the facts and circumstances of such default, the consequences of such default, and any remedy period agreed or allowed by the classification society.