Common use of Concerning the Collateral Vessel Clause in Contracts

Concerning the Collateral Vessel. (a) The name, registered owner, official number, and jurisdiction of registration and flag of the Collateral Vessel is set forth on Schedule 8.19 (as updated from time to time by the Borrower pursuant to Section 9.13 with respect to flag jurisdiction, and otherwise (with respect to name, registered owner, official number and jurisdiction of registration) upon advance notice and in a manner that does not interfere with the Lenders’ Liens on the Collateral, provided that the Borrower shall take all steps requested by the Collateral Agent to preserve and protect the Liens created by the Security Documents on the Collateral Vessel) and (b) as of the first Initial Borrowing Date, the Collateral Vessel is and will be operated in material compliance with all applicable law, rules and regulations.

Concerning the Collateral Vessel. (a) The name, registered owner, official number, and jurisdiction of registration and flag of the Collateral Vessel is set forth on Schedule 8.19 (as updated from time to time by the Borrower pursuant to Section 9.13 with respect to flag jurisdiction, and otherwise (with respect to name, registered owner, official number and jurisdiction of registration) upon advance notice and in a manner that does not interfere with the Lenders’ Liens on the Collateral, provided that the Borrower shall take all steps requested by the Collateral Agent to preserve and protect the Liens created by the Security Documents on the Collateral Vessel) and (b) as of the first Initial Borrowing Date, the Collateral Vessel is and will be operated in material compliance with all applicable law, rules and regulations.