Covenants of the Mortgagor. 4.1 The Mortgagor has obtained authorization necessary to enter into this Contract pursuant to relevant regulations and procedures.
4.2 The full and undisputed ownership and disposition right of the collateral is entitled to the mortgagor.
4.3 The collateral is negotiable or transferable according to law.
4.4 Such cases as the collateral has been sealed up, distrained or supervised would not happen.
4.5 The mortgagor shall make a full and accurate disclosure to the extent that the money and collateral such as tax in default, construction mortgages have been mortgaged or rented.
4.6 The Mortgagor has obtained approval from co-owners of the right to be pledged under this Contract.
4.7 During the term of mortgage, the mortgagor shall inform the mortgagee in written for any of following cases:
4.7.1 The collateral has been sealed up, distrained, supervised or has been taken other enforcement actions.
4.7.2 The mortgagor changed the capital structure or operation system, include but not limited to contract operation, leasing, shareholding system transformation, joint operation, merger, separation, partnership, asset transferring, and etc.
4.7.3 The business licenses of the mortgagor has been cancelled or revoked, or he is ordered to close down or was terminated for other causes.
4.7.4 The mortgagor applies for bankruptcy, reorganization, reconciliation or is the subject of bankruptcy and reorganization applications.
4.8 There is no existence of other cases that would affect the realization of collateral.
Covenants of the Mortgagor. The Mortgagor represents, warrants, covenants and agrees with Mortgagee as follows:
Covenants of the Mortgagor. As long as any portion of the Secured Obligations remains unpaid, the Mortgagor hereby covenants and undertakes as follows:
9.1 The Mortgagor shall, at its own expense and account (i) warrant and defend the title to all the Mortgaged Properties for the benefit of the Lender pursuant to this Mortgage; (ii) notify the Lender of any action against, or deeds and papers adversely affecting, the Mortgaged Properties; and (iii) deliver to the Lender copies of any deeds, papers, communications, and notices from whomsoever adversely affecting the Mortgaged Properties.
9.2 The Mortgagor shall at all times, maintain, preserve, and keep the Mortgaged Personal Properties in good repair, in working order and efficiently operating condition and equipped with suitable equipment and appliances, and shall accordingly make all needful repairs, retirements or renewals on the Mortgaged Personal Properties.
9.3 The Mortgagor shall promptly pay or provide for the payment and discharge of all taxes, assessments, levies, or other governmental charges, if any, on the Mortgaged Properties, and shall not, by reason thereof, suffer any lien to be hereafter created upon the Mortgaged Properties, or any part thereof.
9.4 The Mortgagor shall promptly notify the Lender of any levy, assessment or imposition of any levy or charge, or the filing of any lien on the Mortgaged Properties and will take steps necessary to prevent the Mortgaged Properties or any part thereof, from being subjected to the possibility of loss, forfeiture or sale.
9.5 Subject to Section 13, the Mortgagor shall not sell, assign, transfer, alienate, lease, pledge, mortgage, or in any other manner dispose or create a lien or encumbrance on the Mortgaged Properties or any part thereof without the prior written consent of the Lender. If any of the Mortgaged Properties shall be sold, assigned, transferred, alienated, leased, pledged, mortgaged or in any other manner disposed of otherwise than with the prior written consent of the Lender, then to the extent permitted by any judicial or direct means which may then be available or permitted under the circumstances, the relevant Mortgaged Properties being the subject thereof may be repossessed, at the expense of the Mortgagor. If, notwithstanding this Section 9.5, the Mortgagor shall create or permit to exist any lien on any of the Mortgaged Properties in favor of any third party, the same shall, without prejudice to any rights and remedies that the Lender may have under this M...
Covenants of the Mortgagor. So long as any of the Obligations shall remain outstanding, unless the Mortgagee shall otherwise consent in writing:
Covenants of the Mortgagor. The Mortgagor hereby covenants with and to the Mortgagee that: (a) the Mortgagor shall (i) comply and shall cause all occupants of the Mortgaged Property to comply with all federal, state and local laws, rules, regulations and orders with respect to the discharge, generation, removal, transportation, storage and handling of Hazardous Wastes or Substances, (ii) remove or otherwise remediate any Hazardous Wastes and Substances immediately upon discovery of same (except such solvents, cleaning materials and other substances in nominal amounts as are used in connection with the operation or maintenance of the Mortgaged Property and in compliance with applicable Laws), and (iii) pay or cause to be paid all costs associated with such removal or remediation; (b) the Mortgagor shall keep the Mortgaged Property free of any lien imposed pursuant to any state or federal law, rule, regulation or order in connection with the existence of Hazardous Wastes or Substances on the Mortgaged Property; (c) the Mortgagor shall not install or permit to be installed or to exist in or on the Mortgaged Property any Hazardous Wastes or Substances (except such solvents, cleaning materials and other substances in nominal amounts as are used in connection with the operation or maintenance of the Mortgaged Property and in compliance with applicable Laws); and (d) the Mortgagor shall not cause or permit to exist, as a result of an intentional or unintentional act or omission on the part of the Mortgagor or any occupant of the Mortgaged Property, a releasing, spilling, leaking, pumping, emitting, pouring, emptying or dumping of any Hazardous Wastes or Substances onto the Mortgaged Property or into waters or other lands.
Covenants of the Mortgagor. The Mortgagor hereby covenants to the Mortgagee that
(a) the Mortgagor shall (i) comply and shall cause all occupants of the Premises to comply with all federal, state and local laws, rules, regulations and orders with respect to the discharge, generation, removal, transportation, storage and handling of Hazardous Wastes and Substances, (ii) remove any Hazardous Wastes and Substances immediately upon discovery of same, and (iii) pay or cause to be paid all costs associated with such removal;
(b) the Mortgagor shall keep the Premises free of any lien imposed pursuant to any state or federal law, rule, regulation or order in connection with the existence of Hazardous Wastes and Substances on the Premises;
(c) the Mortgagor shall not install or permit to be installed or to exist in or on the Premises any asbestos, asbestos-containing materials, urea formaldehyde insulation or any other chemical or substance which has been determined to be a hazard to health and environment; and
(d) the Mortgagor shall not cause or permit to exist, as a result of an intentional or unintentional act or omission on the part of the Mortgagor or any occupant of the Premises, a releasing, spilling, leaking, pumping, emitting, pouring, emptying or dumping of any Hazardous Wastes or Substances onto the Premises or into waters or other lands.
Covenants of the Mortgagor. In addition to covenants contained elsewhere herein, the Mortgagor covenants and agrees with the Agent as follows:
Covenants of the Mortgagor. 7.1 Subject to Clause 12.2, the Mortgagor shall not sell, transfer or dispose or agree or attempt to sell, transfer or dispose of the Properties, or any part thereof, or permit the same to occur, except as otherwise permitted by the Finance Documents.
7.2 The Mortgagor shall not create or agree or attempt to create any Security over the Mortgage Certificates or any interest therein, or permit the same to exist, except as otherwise permitted by the Finance Documents.
7.3 The Mortgagor shall not apply for or permit the issuance of any mortgage certificates in respect of the Properties other than the Mortgage Certificates, except as otherwise permitted by the Finance Documents.
Covenants of the Mortgagor. Mortgagor covenants and agrees to the faithful fulfillment of the following stipulations in favor of Mortgagee:
1. The Mortgaged Property shall remain specially mortgaged, pledged, affected and hypothecated to Mortgagee until the full and final payment of the Note, and all interest, attorneys' fees, insurance premiums, taxes, collection costs, keeper's fees, and all other costs. Mortgagor agrees not to abandon, sell, transfer, lease, donate, exchange, pledge, assign, convey, alienate, or further encumber any of the Mortgaged Property or any interest therein and shall not permit any other party to do so. In no event shall any such act by Mortgagor, whether or not authorized by Mortgagee, prejudice the rights of Mortgagee under this mortgage.
Covenants of the Mortgagor. The Mortgagor covenants with the Mortgagee that it will diligently carry out its obligations pursuant to any charter or other contract of employment and that it will enforce such contract to the best of its abilities. The Mortgagor covenants with the Mortgagee that it shall comply with all laws and regulations made by governmental authorities having jurisdiction over the Vessel whenever and wherever operating the Vessel. The Mortgagor covenants that there are no Canadian Maritime Law liens presently against the Vessel and that the Vessel has not been arrested nor is it presently under arrest with respect to any claims, maritime or statutory, with respect to the Vessel.
