No Liability of Mortgagee. The Mortgagee shall not be obliged to check the nature or sufficiency of any payment received by it under this Mortgage or to preserve, exercise or enforce any right relating to the Ship.
Appears in 7 contracts
Samples: Supplemental Agreement (TBS International PLC), Supplemental Agreement (TBS International PLC), Knightsbridge Tankers LTD
No Liability of Mortgagee. The Mortgagee shall not be obliged to check the nature or sufficiency of any payment received by it or him under the Mortgage or this Mortgage Deed or to preserve, exercise or enforce any right forming part of, or relating to to, any item of the ShipMortgaged Premises.
Appears in 6 contracts
Samples: Credit Agreement (Norwegian Cruise Line Holdings Ltd.), Credit Agreement (Norwegian Cruise Line Holdings Ltd.), Interaction Agreement (NCL CORP Ltd.)
No Liability of Mortgagee. (a) The Mortgagee shall not be obliged to check the nature or sufficiency of any payment received by it under this Mortgage or to preserve, exercise or enforce any right relating to the Ship.
Appears in 1 contract
