Documentation of Drillship and Ship Mortgage Sample Clauses

Documentation of Drillship and Ship Mortgage. In the event that a --------------------------------------------- successor trustee to the Charter Trustee shall have been appointed pursuant to Section 5.10 of the Charter Trust Agreement and Section 12.18, or the Charter ------------- Trustee shall merge or consolidate with any Person in accordance with Section 5.12 of the Charter Trust Agreement and Section 12.18, Deepwater, at its sole ------------- expense, shall cause the Drillship to be provisionally documented (if the Head Lease Transaction has not been entered into) and the Ship Mortgage and the Charter to be provisionally recorded under the laws of Panama in the name of any successor trustee within fifteen (15) Business Days of the receipt of written notice of any such appointment, merger or consolidation; provided that Deepwater -------- ---- shall not be deemed to be in violation of the covenant contained in this sentence to the extent that any delay in procuring such provisional documentation or recordation results from the failure of any of the Participants to execute any necessary documents or instruments promptly upon receipt from Deepwater or to take any other action necessary to effectuate such documentation or recording promptly upon request by Deepwater. Deepwater, at its sole expense, shall thereafter cause the Drillship to be duly permanently documented (if the Head Lease Transaction has not been entered into) and the Ship Mortgage and the Charter to be duly permanently recorded at least 10 Business Days prior to the end of the six (6) months following the issuance of the provisional documentation.
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Related to Documentation of Drillship and Ship Mortgage

  • Amendments to the Loan and Security Agreement (a) The Loan and Security Agreement shall be amended as follows effective as of the Amendment Effective Date:

  • Amendment and Restatement; No Novation This Agreement constitutes an amendment and restatement of the Existing Credit Agreement, effective from and after the Closing Date. The execution and delivery of this Agreement shall not constitute a novation of any indebtedness or other obligations owing to the Lenders or the Administrative Agent under the Existing Credit Agreement based on facts or events occurring or existing prior to the execution and delivery of this Agreement. On the Closing Date, the credit facilities described in the Existing Credit Agreement shall be amended, supplemented, modified and restated in their entirety by this Agreement and the facilities described herein, and all loans and other obligations of the Borrower outstanding as of such date under the Existing Credit Agreement shall be deemed to be loans and obligations outstanding under the corresponding facilities described herein, without any further action by any Person, except that the Administrative Agent shall make such transfers of funds as are necessary in order that the outstanding balance of such Loans, together with any Loans funded on the Closing Date, reflect the respective Revolving Credit Commitments of the Lenders hereunder.

  • Mortgages and Deeds of Trust The notes secured by the mortgages and deeds of trust encumbering the Portfolio Properties (except with respect to each property described in the Prospectus as held by the Company through a joint venture) are not convertible, except where the conversion of such notes would not have a Material Adverse Effect, and said mortgages and deeds of trust are not cross-defaulted or cross-collateralized to any property that is not a Portfolio Property, except where such cross-default or cross-collateralization, if triggered, would not have a Material Adverse Effect.

  • Amendment and Restatement of Prior Agreement The Prior Agreement is hereby amended and restated in its entirety as set forth herein. Such amendment and restatement is effective upon the execution of this Agreement on the date hereof by the Company and certain of the Prior Investors who are party hereto, pursuant to Section 5.5 of the Prior Agreement. Upon such execution, all provisions of, rights granted and covenants made in the Prior Agreement are hereby waived, released and superseded in their entirety and shall have no further force or effect, including, without limitation, all rights of first refusal and any notice period associated therewith otherwise applicable to the transactions contemplated by the Purchase Agreement.

  • Amendments to Security Agreement The Security Agreement is hereby amended as follows:

  • General Assignments Assignments of all of Seller’s right, title and interest in and to all FF&E Leases, Service Contracts and Leases identified on Exhibit C hereto (the “Hotel Contracts”). The assignment shall also be a general assignment and shall provide for the assignment of all of Seller’s right, title and interest in all Records, Warranties, Licenses, Tradenames, Contracts, Plans and Specs and all other intangible Personal Property applicable to the Hotel.

  • Conditions Precedent to Each Loan and Letter of Credit The obligation of each Lender on any date (including the Closing Date) to make any Loan and of each Issuer on any date (including the Closing Date) to Issue any Letter of Credit is subject to the satisfaction of each of the following conditions precedent:

  • Amendments to the Security Agreement The Security Agreement is hereby amended as follows:

  • General Assignment A general assignment by Tenant for the benefit of creditors;

  • Terms Defined in Loan and Security Agreement All capitalized terms used in this Amendment (including in the recitals hereof) and not otherwise defined herein shall have the meanings assigned to them in the Loan and Security Agreement.

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