Common use of MORTGAGEE'S POWER OF ATTORNEY-SALES Clause in Contracts

MORTGAGEE'S POWER OF ATTORNEY-SALES. The Mortgagee is hereby appointed attorney-in-fact of the Shipowner, upon the happening of any Event of Default, to execute and deliver to any purchaser aforesaid, and is hereby vested with full power and authority to make, in the name and on behalf of the Shipowner, a good conveyance of the title to the Ship so sold. In the event of any sale of the Ship, under any power herein contained, the Shipowner will, if and when required by the Mortgagee, execute such form of conveyance of the Ship as the Mortgagee may direct or approve.

MORTGAGEE'S POWER OF ATTORNEY-SALES. The Mortgagee is hereby appointed attorney-in-fact of the Shipowner, upon the happening of any Event of Default, to execute and deliver to any purchaser aforesaid, and is hereby vested with full power and authority to make, in the name and on behalf of the Shipowner, a good conveyance of the title to the Ship Vessel so sold. In the event of any sale of the ShipVessel, under any power herein contained, the Shipowner will, if and when required by the Mortgagee, execute such form of conveyance of the Ship Vessel as the Mortgagee may direct or approve.