Common use of MORTGAGEE POWER OF ATTORNEY--DISCHARGE OF LIENS Clause in Contracts

MORTGAGEE POWER OF ATTORNEY--DISCHARGE OF LIENS. The Shipowner authorizes and empowers the Mortgagee or its appointees or any of them to appear in the name of the Shipowner, its successors and assigns, in any court of any country or nation of the world where a suit is pending against the Ship because of or on account of any alleged lien against the Ship from which the Ship has not been released and to take such proceedings as to them or any of them as may seem proper towards the defense of such suit and the purchase or discharge of such lien, and all expenditures made or incurred by them or any of them for the purpose of such defense or purchase or discharge shall be a debt due from the Shipowner, its successors and assigns, to the Mortgagee, shall be payable on demand and shall be secured by the lien of this Deed and the Mortgage in like manner and extent as if the amount and description thereof were written herein.

MORTGAGEE POWER OF ATTORNEY--DISCHARGE OF LIENS. The Shipowner authorizes and empowers the Mortgagee or its appointees or any of them to appear in the name of the Shipowner, its successors and assigns, in any court of any country or nation of the world where a suit is pending against the Ship Vessel because of or on account of any alleged lien against the Ship Vessel from which the Ship Vessel has not been released and to take such proceedings as to them or any of them as may seem proper towards the defense of such suit and the purchase or discharge of such lien, and all expenditures made or incurred by them or any of them for the purpose of such defense or purchase or discharge shall be a debt due from the Shipowner, its successors and assigns, to the Mortgagee, shall be payable on demand and shall be secured by the lien of this Deed and the Mortgage in like manner and extent as if the amount and description thereof were written herein.

MORTGAGEE POWER OF ATTORNEY--DISCHARGE OF LIENS. The Upon the happening of any Event of Default, each Shipowner authorizes and empowers the Mortgagee or its appointees or any of them to appear in the name of the such Shipowner, its successors and assigns, in any court of any country or nation of the world where a suit is pending against the Ship a Vessel because of or on account of any alleged lien against the Ship such Vessel from which the Ship such Vessel has not been released and to take such proceedings as to them or any of them as may seem proper towards the defense of such suit and the purchase or discharge of such lien, and all expenditures made or incurred by them or any of them for the purpose of such defense or purchase or discharge shall be a debt due from the such Shipowner, its successors and assigns, to the Mortgagee, shall be payable on demand and shall be secured by the lien of this Deed and the Mortgage Mortgages in like manner and extent as if the amount and description thereof were written herein.