Delivery of Vessel. Whenever any right to enter and take possession the Vessel accrues to the Mortgagee, the Mortgagee may require the Shipowner to deliver, and the Shipowner shall on such demand, at its own cost and expense, deliver the Vessel, as demanded. If any legal proceedings shall be taken to enforce any right under this Mortgage, the Mortgagee shall be entitled as a matter of right to the appointment of a receiver of the Vessel and the freights, hire, earnings, issues, revenues, income and profits due or to become due arising from the operation thereof.
Appears in 4 contracts
Samples: Pledge Agreement (International Seaways, Inc.), Security Agreement (Overseas Shipholding Group Inc), Intercreditor Agreement (Overseas Shipholding Group Inc)
