Moneys Due with Respect to Construction of the Vessels. (a) In the event that the Shipowner shall receive any moneys from any Person in connection with the Construction of any Vessel, the Shipowner shall give written notice thereof to the Secretary and shall promptly pay the same over to the Depository to be held in the Title XI Reserve Fund.
Appears in 6 contracts
Samples: Security Agreement (Ambassadors International Inc), Security Agreement (Chiles Offshore Inc/New/), Security Agreement (American Classic Voyages Co)
Moneys Due with Respect to Construction of the Vessels. (a) In the event that the Shipowner shall receive any moneys from any Person in connection with the Construction of any Vessel, the Shipowner shall give written notice thereof to the Secretary Administrator and shall promptly pay the same over to the Depository Administrator to be held deposited in the Title XI Chapter 537 Reserve FundFund with the Depository.
Appears in 1 contract
Samples: www.maritime.dot.gov
