No Waiver of Preferred Status. Nothing in this Mortgage shall be construed as a waiver of the preferred status of this Mortgage by the GOVERNMENT. In the event that any provision of this Mortgage would, as a matter of law, operate to waive the preferred status thereof, such provision for all intents and purposes, shall be deemed eliminated therefrom as though such provision had never been inserted herein.
Appears in 3 contracts
Samples: Preferred Ship Mortgage (Omega Protein Corp), First Preferred Ship Mortgage (Omega Protein Corp), First Preferred Ship Mortgage (Omega Protein Corp)
No Waiver of Preferred Status. Nothing in this Mortgage shall be construed as a waiver of the preferred status of this Mortgage by the GOVERNMENTGovernment. In the event that any provision of this Mortgage would, as a matter of law, operate to waive the preferred status thereof, such provision for all intents and purposes, shall be deemed eliminated therefrom as though such provision had never been inserted herein.
Appears in 3 contracts
Samples: Preferred Ship Mortgage (Omega Protein Corp), Preferred Ship Mortgage (Omega Protein Corp), Preferred Ship Mortgage (Omega Protein Corp)
