Common use of MORTGAGE AND COVENANT TO PAY Clause in Contracts

MORTGAGE AND COVENANT TO PAY. Section 2.1 In order to secure the payment of the Guaranteed Obligations, and the payment of all other sums that may hereinafter be secured by the Mortgage in accordance with the terms hereof, and to secure the performance and observance of and compliance with all the agreements, covenants and conditions of the Mortgage, the Collateral Agreement, the Credit Agreement, the other Loan Documents and any Relevant Swap Agreement (all of the foregoing being referred to herein as the “Secured Obligations”), the Owner has duly authorized the execution and delivery of this Mortgage under and pursuant to the laws of the Republic of the Mxxxxxxx Islands.