Common use of Legal Existence; Citizenship Authorization Clause in Contracts

Legal Existence; Citizenship Authorization. (a) The Shipowner is duly organized and validly existing as a limited liability company and in good standing under the laws of the State of Delaware; (b) The Shipowner is duly qualified to engage in the trade in which each Vessel operates; (c) The Shipowner is duly authorized to mortgage the Vessels; Xxxxx Xxxxx, et al. September , 2006 (d) All limited liability company action necessary as required by law for the execution and delivery of this Mortgage has been duly and effectively taken; (e) The Shipowner has full power and authority to own and mortgage the Vessels; (f) The Mortgage, the Credit Agreement and the Obligations hereby secured are and will be valid and enforceable obligations of the Shipowner enforceable in accordance with their terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles; (g) All necessary consents and approvals of any Governmental Authority or any other entity to the entering into and performance of this Mortgage have been duly obtained or given and the entering into and performance of this Mortgage does not and will not contravene the terms of or constitute a default under (with or without giving of notice or lapse of time or both) any material agreement, instrument or document to which the Shipowner is a party or by which it or its properties are bound or affected. The Shipowner is now, and shall so remain until this Mortgage is discharged, a citizen of the United States pursuant to Section 2 of the Shipping Act of 1916, as amended (46 USC § 802), and is qualified to own and operate vessels documented under the laws of the United States.

Legal Existence; Citizenship Authorization. (a) The Shipowner is duly organized and validly existing as a limited liability company and in good standing under the laws of the State of Delaware; (b) The Shipowner ; it is duly qualified to engage in the trade in which each the Vessel operates; (c) The Shipowner ; it is duly authorized to mortgage the VesselsVessel; Xxxxx Xxxxx, et al. September , 2006 (d) All all limited liability company action necessary as required by law for the execution and delivery of this Mortgage has been duly and effectively taken; (e) The Shipowner ; it has full power and authority to own and mortgage the Vessels; (f) The Vessel, the Mortgage, the Credit Agreement Agreement, and the Obligations hereby secured are and will be valid and enforceable obligations of the Shipowner enforceable in accordance with their terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles; (g) . All necessary consents and approvals of any Governmental Authority or any other entity to the entering into and performance of this Mortgage have been duly obtained or given and the entering into and performance of this Mortgage does not and will not contravene the terms of or constitute a default under (with or without giving of notice or lapse of time or both) any material agreement, instrument or document to which the Shipowner is a party or by which it or its properties are bound or affected. The Shipowner is now, and shall so remain until this Mortgage is discharged, a citizen of the United States pursuant to Section 2 of the Shipping Act of 1916, as amended (46 USC § 802), and is qualified to own and operate vessels documented under the laws of the United States.

Legal Existence; Citizenship Authorization. (a) The Shipowner is duly organized and validly existing as a limited liability company and in good standing under the laws of the State of Delaware; (b) The Shipowner ; it is duly qualified to engage in the trade in which each the Vessel operates; (c) The Shipowner ; it is duly authorized to mortgage the VesselsVessel; Xxxxx Xxxxx, et al. September , 2006 (d) All all limited liability company action necessary as required by law for the execution and delivery of this Mortgage has been duly and effectively taken; (e) The Shipowner ; it has full power and authority to own and mortgage the Vessels; (f) The Vessel; the Mortgage, the Credit Agreement and the Obligations hereby secured are and will be valid and enforceable obligations of the Shipowner enforceable in accordance with their terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles; (g) . All necessary consents and approvals of any Governmental Authority or any other entity to the entering into and performance of this Mortgage have been duly obtained or given and the entering into and performance of this Mortgage does not and will not contravene the terms of or constitute a default under (with or without giving of notice or lapse of time or both) any material agreement, instrument or document to which the Shipowner is a party or by which it or its properties are bound or affected. The Shipowner is now, and shall so remain until this Mortgage is discharged, a citizen of the United States pursuant to Section 2 of the Shipping Act of 1916, as amended (46 USC § 802), and is fully qualified to own and operate vessels documented under the laws of the United States.

Legal Existence; Citizenship Authorization. (a) The Shipowner is duly organized and validly existing as a limited liability company and in good standing under the laws of the State of Delaware; (b) The Shipowner ; it is duly qualified to engage in the trade in which each Vessel operates; (c) The Shipowner ; it is duly authorized to mortgage the Vessels; Xxxxx Xxxxx, et al. September , 2006 (d) All all limited liability company action necessary as required by law for the execution and delivery of this Mortgage has been duly and effectively taken; (e) The Shipowner ; it has full power and authority to own and mortgage the Vessels; (f) The ; the Mortgage, the Credit Agreement and the Obligations hereby secured are and will be valid and enforceable obligations of the Shipowner enforceable in accordance with their terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles; (g) . All necessary consents and approvals of any Governmental Authority or any other entity to the entering into and performance of this Mortgage have been duly obtained or given and the entering into and performance of this Mortgage does not and will not contravene the terms of or constitute a default under (with or without giving of notice or lapse of time or both) any material agreement, instrument or document to which the Shipowner is a party or by which it or its properties are bound or affected. The Shipowner is now, and shall so remain until this Mortgage is discharged, a citizen of the United States pursuant to Section 2 of the Shipping Act of 1916, as amended (46 USC § §802), and is fully qualified to own and operate vessels documented under the laws of the United States.