Common use of Incidental Powers Clause in Contracts

Incidental Powers. The Collateral Agent shall be entitled to do all acts and things incidental or conducive to the exercise of any of the rights, powers or remedies possessed by it as Collateral Agent of the Ship (whether at law, under this Deed or otherwise) and in particular (but without prejudice to the generality of the foregoing) upon becoming entitled to exercise any of its powers under clause 9 of the Deed of Covenants, the Collateral Agent shall be entitled to discharge any cargo on board the Ship (whether the same shall belong to the Owner or any other person) and to enter into such other arrangements respecting the Ship, the insurances, management, maintenance, repair, classification and employment in all respects as if the Collateral Agent was the owner of the Ship, but without being responsible for any loss incurred as a result of the Collateral Agent doing or omitting to do any such acts or things as aforesaid.