Documentation of Vessels. The Charterer agrees that, at or ------------------------ before the time of delivery of the Vessel to the Owner Trust on the Delivery Date, the Charterer shall cause the Vessel to be documented, on a provisional basis, in the name of the Owner Trust at the Charterer's expense under the laws and the flag of the Xxxxxxxx Islands and shall cause the Vessel to be documented on a permanent basis in the name of the Owner Trust promptly after the Delivery Date. The Charterer shall throughout the Charter Period maintain the documentation of the Vessel in the Xxxxxxxx Islands (or in any other jurisdiction selected by the Charterer provided such other jurisdiction provides substantially equivalent (or better) protection for the rights of owner participants, lessors, lenders and mortgagees for similar transactions as the law of the Xxxxxxxx Islands), and shall not do or suffer or permit to be done anything which would prevent the maintenance of the documentation of the Vessel under the laws and the flag of the Xxxxxxxx Islands (or such other jurisdiction) or which would constitute or result in a violation of any applicable law or regulation of the Xxxxxxxx Islands (or such other jurisdiction) non-compliance with which could create any material risk of or danger of the sale, forfeiture or loss of any material part of or interest in the Vessel, provided, however, that in the event -------- ------- the Vessel is documented in a jurisdiction other than the Xxxxxxxx Islands, the Charterer shall make or cause to be made all filings and recordings or other actions necessary or advisable to establish the Indenture Trustee's and the Owner Trust's right, title and interest in and to the Vessel Interest, including the execution, delivery and filing of a ship mortgage in form and substance substantially similar to the Ship Mortgage with the appropriate governmental agency of such jurisdiction, provided further, however that such ship mortgage -------- ------- ------- shall not be adverse to the interests of the Owner Trust or the Indenture Trustee in any material respect or increase either parties liability under the Operative Documents.
Documentation of Vessels. SFL, Holdings and the Owners shall have received evidence reasonably satisfactory to SFL that upon delivery of the Vessel by the Seller thereof to Holdings, the Vessel will be documented under the laws of Liberia or Panama in the name of the relevant Owner, free and clear of all recorded liens, claims, or encumbrances other than for a first preferred mortgage in favor of the Security Trustee under the Credit Agreement and any Owner Liens (as defined in the Charters).
Documentation of Vessels. The Charterer agrees that, at or ------------------------ before the time of delivery of the Vessel to the Owner Trust pursuant to the Head Lease on the Delivery Date, the Charterer shall cause the Vessel to be documented, on a provisional basis, in the name of the U.K. Lessor (but at the Charterer's expense) under the laws and the flag of the Xxxxxxxx Islands and shall cause the Vessel to be documented on a permanent basis in the name of the U.K. Lessor promptly after the Delivery Date. The Charterer shall throughout the Charter Period cause the documentation of the Vessel to be maintained in the Xxxxxxxx Islands (or in any other jurisdiction selected by the Charterer provided such other jurisdiction provides substantially equivalent (or better) protection for the rights of lessors, lenders and mortgagees for similar transactions as the law of the Xxxxxxxx Islands), and shall not do or suffer or permit to be done anything which would prevent the maintenance of the documentation of the Vessel under the laws and the flag of the Xxxxxxxx Islands (or such other jurisdiction) or which would constitute or result in a violation of any applicable law or regulation of the Xxxxxxxx Islands (or such other jurisdiction) non-compliance with which could create any material risk of or danger of the sale, forfeiture or loss of any material part of or interest in the Vessel, provided, however, that in the event the Vessel is -------- ------- documented in a jurisdiction other than the Xxxxxxxx Islands, the Charterer shall make or cause to be made all filings and recordings or other actions necessary or advisable to establish the Indenture Trustee's and the Owner Trust's interest in the Vessel Interest.
Documentation of Vessels. Except as otherwise disclosed to the Administrative Agent in writing, the Borrower or one or more of its Wholly-Owned Domestic Subsidiaries holds good and marketable title to the Vessels and the Appurtenances thereto, free and clear of all Liens other than Permitted Liens, and since October 21, 1998 and prior to the Effective Date, each of the Vessels has been continuously documented with a valid fishery endorsement (other than the AMERICAN CHALLENGER and the PLC Vessels, and, after the date of the Forum Star Closing, the FORUM STAR), except for routine surrender and prompt reissuance of certificates of documentation with a fishery endorsement as disclosed on Schedule 5.25. On and after the Effective Date, there has occurred no lapse of documentation or other event which could adversely affect any Vessel’s qualifications or eligibility to operate in the fisheries of the United States at or after Effective Date. There are no contractual restrictions on the operation of any of the Vessels or any of the Appurtenances thereto, other than through bareboat charters and Cooperative Agreements that are identified in Schedule 5.25 or restrictions that would not reasonably be expected to have a Material Adverse Effect.
Documentation of Vessels. On the Delivery Date of the Vessel, the Vessel shall be documented under and the Mortgage shall be recorded under the laws of Panama. The Mortgage shall be recorded pursuant to the laws of Mexico.
Documentation of Vessels. 8 Section 3.11. Sale, Charter or Mortgage of Vessels............................8 Section 3.12. Insurance.......................................................8 Section 3.13. Requisition of Title to Vessels.................................8 Section 3.14. Requisition of Vessels but not Title............................9 Section 3.15. Execution of Additional Documents...............................9 INDEX ----- (Continued)
Documentation of Vessels. The Mortgagor will keep the Vessels duly documented as Vessels of the United States of America, under the flag of the United States of America, entitled to engage in the operations conducted by the Mortgagor and eligible for the trade in which the Vessels are operating.
Documentation of Vessels. The Shipowner shall cause each Vessel to remain documented under the laws of the United States of America.
Documentation of Vessels. The Owner shall maintain the documentation of the Vessels under the laws of the United States. The Owner shall not permit any Vessel to be put, placed or operated under any other flag or documentation and will not do or suffer or permit anything to be done which can or might injuriously affect the registration or enrollment of such Vessel under the laws or regulations of the United States. The Owner is, and shall remain, a citizen of the United States within the meaning of Section 2 of the Shipping Act, 1916, as amended, for the purpose of operating the Vessels in the coastwise trade.
