Common use of Notification of Certain Events Clause in Contracts

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee by fax or Email, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest on that Ship or the Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and that Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower The Charterers shall immediately (and shall procure the Approved Manager to) forthwith notify the Security Trustee by fax or Email, confirmed forthwith by letter, of: Owners in writing of:- (a) any casualty which is or is likely to be or to become a Major Casualty; ; (b) any occurrence as a result of which the Ship owned by it Vessel has become or is, by the passing of time or otherwise, likely to become a Total Loss; ; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is or will not immediately be complied with; with by the relevant due date(s); (d) any arrest or detention of the Ship owned by itVessel, any exercise or purported exercise of any Security Interest lien on that Ship the Vessel or the Earnings its earnings or any requisition of that Ship the Vessel for hire; ; (e) any intended dry docking of the Ship owned by it; Vessel; (f) any Environmental Claim made against that Borrower the Charterers or any Obligor or in connection with the Ship owned by itVessel, or any Environmental Incident; ; (g) any claim for breach of the ISM Code, the ISPS Code or the ISPS Code MARPOL being made against that Borrowerthe Charterers, any of the Approved Manager or otherwise in connection with the Ship owned by itVessel; or or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code, ISPS Code or the ISPS Code MARPOL not being complied with; , and that Borrower the Charterers shall (and shall procure the Approved Manager to) keep the Security Trustee Owners advised in writing on a regular basis and in such detail as the Security Trustee Owners shall reasonably require of that Borrower’s, the Approved Manager’s or any other person’s response to any status and development of those the above events or matters.

Notification of Certain Events. Each Borrower Guarantor shall immediately notify the Security Trustee Agent by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty to the Ship owned by it which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made in relation to the Ship owned by it by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower Guarantor or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerGuarantor, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower Guarantor shall keep the Security Trustee Agent advised in writing on a regular basis and in such detail as the Security Trustee Agent shall require of that Borrower’sGuarantor's, the Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Ship Owning Borrower shall immediately notify the Security Trustee Lender by fax or Emailfax, confirmed forthwith immediately afterwards by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Ship Owning Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Ship Owning Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and that Ship Owning Borrower shall keep the Security Trustee Lender advised in writing on a regular basis and in such detail as the Security Trustee Lender shall require of that Ship Owning Borrower’s's, the Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall procure that each Owner shall immediately notify the Security Trustee by fax or Email, confirmed forthwith by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the her Earnings or any requisition of that Ship for hire;, (e) any intended dry docking of the Ship owned by itit where the cost of the dry docking will, or is likely to, exceed $500,000 (or the equivalent in any other currency) in aggregate; (f) any Environmental Claim made against that Borrower Owner or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerOwner, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower Owner shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that BorrowerOwner’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately promptly notify the Security Trustee by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’s's, the Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith forthwith, by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that the Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’s's, the Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee Lender by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that such Ship or the its Earnings or any requisition of that such Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that the relevant Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that the relevant Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that each Borrower shall keep the Security Trustee Lender advised in writing on a regular basis and in such detail as the Security Trustee Lender shall require of that each Borrower’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each The Borrower (or the relevant Owner as the case may be) shall immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith forthwith, by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the a Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society the Classification Society or by any competent authority which is not immediately complied withwith in accordance with its terms; (d) any arrest or detention of the Ship owned by ita Ship, any exercise or purported exercise of any Security Interest lien on that any Ship or the its Earnings or any requisition of that a Ship for hire; (e) any intended dry docking of the Ship owned by ita Ship; (f) any Environmental Claim made against that the Borrower or an Owner in connection with the a Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borroweran Owner, the Approved Manager or otherwise in connection with the Ship owned by ita Ship; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that the Borrower (or the relevant Owner as the case may be) shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrowerthe Owner’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall shall, in respect of the Ship owned by it, immediately notify the Security Trustee Facility Agent by fax or Emailfax, confirmed forthwith by letter, letter of: (a) any casualty to that Ship which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the that Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requisition of that Ship for hire; (d) any requirement or condition recommendation made in relation to that Ship by any insurer or classification society or by any competent authority which is not immediately complied with; (de) any arrest or detention of the Ship owned by itthat Ship, any exercise or purported exercise of any Security Interest lien on that Ship or the Earnings or any requisition of that Ship for hire; (ef) any intended dry docking of the Ship owned by itthat Ship; (fg) any Environmental Claim made against that Borrower or in connection with the Ship owned by itthat Ship, or any Environmental Incident; (gh) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the an Approved Manager or otherwise in connection with the Ship owned by itthat Ship; or (hi) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that each Borrower shall keep the Security Trustee Facility Agent advised in writing on a regular basis and in such detail as the Security Trustee Facility Agent shall require of as to that Borrower’s, the any such Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately promptly notify the Security Trustee by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall procure that each Owner shall immediately notify the Security Trustee Lender by fax or Emailemail, confirmed forthwith by letter, letter immediately upon becoming aware of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement requirement, condition or condition overdue recommendation made by any insurer or classification society or by any competent authority which is not immediately complied withwith within the time limits imposed by that insurer or classification society or authority; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower Owner or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerOwner, the Approved Manager Managers or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower Owner shall keep the Security Trustee Lender advised in writing on a regular basis and in such detail as the Security Trustee Lender shall require of that BorrowerOwner’s, the each Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee Facility Agent by fax or Emailor, subject to Clause ‎36.5 (Electronic communication), by electronic mail, confirmed forthwith by letter, of: (a) any casualty to that Ship which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the that Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requisition of that Ship for hire; (d) any requirement or condition recommendation made in relation to its Ship by any insurer or classification society or by any competent authority which is not immediately complied with; (de) any arrest or detention of the that Ship owned by it, or any exercise or purported exercise of any Security Interest lien on that Ship or the Earnings or any requisition of that Ship for hireits Earnings; (ef) any intended dry docking of the Ship owned by itthat Ship; (fg) any Environmental Claim made against that Borrower or in connection with the Ship owned by itthat Ship, or any Environmental Incident; (gh) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the an Approved Manager or otherwise in connection with the Ship owned by itthat Ship; or (hi) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that each Borrower shall keep the Security Trustee Facility Agent advised in writing on a regular basis and in such detail as the Security Trustee Facility Agent (acting on the instructions of the Majority Lenders) shall require of as to that Borrower’s's, the any such Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith forthwith, by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’s's, the Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall immediately notify the Security Trustee Lender by fax or Emailfax, confirmed forthwith forthwith, by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the her Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower Owner or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerOwner, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and the Borrower shall and shall procure that Borrower each Owner shall keep the Security Trustee Lender advised in writing on a regular basis and in such detail as the Security Trustee Lender shall require of that Borrowerthe Owner’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee Agent by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty to the Ship owned by it which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or; (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; or (i) any period during which the Ship is off hire in excess of 10 days; and that Borrower shall keep the Security Trustee Agent advised in writing on a regular basis and in such detail as the Security Trustee Agent shall require of that Borrower’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall procure that each Guarantor shall immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied withwith within the relevant specified time limit or, in the absence of such time limit, promptly; (d) any arrest or detention of the Ship owned by ita Ship, any exercise or purported exercise of any Security Interest lien on that a Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower a Guarantor or the Approved Manager or in connection with the any Ship owned by it, or any Environmental Incident; (gf) any claim for breach of the ISM Code, the ISPS Code or the ISPS Code MARPOL Protocol being made against that Borrower, an Owner or the Approved Manager or the Third Party Manager or otherwise in connection with the Ship owned by itany Ship; or (hg) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code, the ISPS Code or the ISPS Code MARPOL Protocol not being complied with; and the Borrower shall and shall procure that Borrower each Guarantor shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that the Borrower’s, the relevant Owner’s, the Approved Manager’s, the Third Party Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower The relevant Security Party shall immediately notify the Security Trustee by fax or Emailemail, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition made by any insurer or classification society the Classification Society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower the relevant Security Party or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrowerthe relevant Security Party, the relevant Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and that Borrower the relevant Security Party shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrowerthe relevant Security Party’s, the relevant Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall procure that the Owner shall immediately notify the Security Trustee Lender by fax or Email, confirmed forthwith by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by itShip, any exercise or purported exercise of any Security Interest lien on that the Ship or the her Earnings or any requisition of that the Ship for hire; (e) any intended dry docking of the Ship owned by itwhere the cost of the dry docking will, or is likely to, exceed $500,000 (or the equivalent in any other currency) in aggregate; (f) any Environmental Claim made against that the Borrower or in connection with the Ship owned by itShip, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager or otherwise in connection with the Ship owned by itShip; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower the Owner shall keep the Security Trustee Lender advised in writing on a regular basis and in such detail as the Security Trustee Lender shall require of that Borrowerthe Owner’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall shall, in respect of the Ship owned by it, immediately notify the Security Trustee Facility Agent by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty to that Ship which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the that Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requisition of that Ship for hire; (d) any requirement or condition recommendation made in relation to that Ship by any insurer or classification society or by any competent authority which is not immediately complied with; (de) any arrest or detention of the that Ship owned by it, or any exercise or purported exercise of any Security Interest lien on that Ship or the Earnings or any requisition of that Ship for hireEarnings; (ef) any intended dry docking of the Ship owned by itthat Ship; (fg) any Environmental Claim made against that Borrower or in connection with the Ship owned by itthat Ship, or any Environmental Incident; (gh) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the an Approved Manager or otherwise in connection with the Ship owned by it; orthat Ship; (hi) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; (j) any notice, or that Borrower becoming aware, of any claim, action, suit, proceeding or investigation against any Transaction Obligor and the Approved Technical Manager, any of their Subsidiaries or any of their respective directors, officers, employees or agents with respect to Sanctions; or (k) any circumstances which could give rise to a breach of any representation or undertaking in this Agreement, or any Event of Default, relating to Sanctions, and that each Borrower shall keep the Security Trustee Facility Agent advised in writing on a regular basis and in such detail as the Security Trustee Facility Agent shall require of as to that Borrower’sBxxxxxxx's, the any such Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower shall Guarantor shall, in respect of the Ship owned by it, immediately notify the Security Trustee Facility Agent by fax or Emailfax, confirmed forthwith by letter, letter of: (a) any casualty to that Ship which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the that Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requisition of that Ship for hire; (d) any requirement or condition recommendation made in relation to that Ship by any insurer or classification society or by any competent authority which is not immediately complied with; (de) any arrest or detention of the Ship owned by itthat Ship, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim Action made against that Borrower Guarantor or in connection with the Ship owned by itthat Ship, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerGuarantor, the an Approved Manager or otherwise in connection with the Ship owned by itthat Ship; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower each Guarantor shall keep the Security Trustee Facility Agent advised in writing on a regular basis and in such detail as the Security Trustee Facility Agent shall require of as to that BorrowerGuarantor’s, the any such Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower The Charterers shall immediately (and shall procure the Approved Manager to) forthwith notify the Security Trustee by fax or Email, confirmed forthwith by letter, of:Owners in writing of:- (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it Vessel has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is or will not immediately be complied withwith by the relevant due date(s); (d) any arrest or detention of the Ship owned by itVessel, any exercise or purported exercise of any Security Interest lien on that Ship the Vessel or the Earnings its earnings or any requisition of that Ship the Vessel for hire; (e) any intended dry docking of the Ship owned by itVessel; (f) any Environmental Claim made against that Borrower the Charterers or any Obligor or in connection with the Ship owned by itVessel, or any Environmental Incident; (g) any claim for breach of the ISM Code, the ISPS Code or the ISPS Code MARPOL being made against that Borrowerthe Charterers, any of the Approved Manager or otherwise in connection with the Ship owned by itVessel; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code, ISPS Code or the ISPS Code MARPOL not being complied with; , and that Borrower the Charterers shall (and shall procure the Approved Manager to) keep the Security Trustee Owners advised in writing on a regular basis and in such detail as the Security Trustee Owners shall reasonably require of that Borrower’s, the Approved Manager’s or any other person’s response to any status and development of those the above events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee Lender by fax or Emailfax, confirmed forthwith forthwith, by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower shall keep the Security Trustee Lender advised in writing on a regular basis and in such detail as the Security Trustee Lender shall require of that Borrower’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship FSO owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any outstanding or overdue requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship FSO owned by it, any exercise or purported exercise of any Security Interest lien on that Ship FSO or the its Earnings or any requisition of that Ship FSO for hire; (e) any intended dry docking of the Ship FSO owned by itit other than a routine drydocking; (f) any Environmental Claim made against that Borrower or in connection with the Ship FSO owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager or otherwise in connection with the Ship FSO owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or its Insurances or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the any Approved Manager and any Approved Third Party Manager or otherwise in connection with the Ship owned by it; oror 57 (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower Bxxxxxxx shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’sBxxxxxxx's, the an Approved Manager’s 's, an Approved Third Party Manager's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall immediately notify the Security Trustee Facility Agent by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty to the Vessel which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it Vessel has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requisition of the Vessel for hire; (d) any requirement or condition recommendation made in relation to the Vessel by any insurer or classification society or by any competent authority which is not immediately complied with; (de) any arrest or detention of the Ship owned by itVessel, any exercise or purported exercise of any Security Interest lien on that Ship the Vessel or the Earnings or any requisition of that Ship the Vessel for hire; (ef) any intended dry docking of the Ship owned by itVessel; (fg) any Environmental Claim made against that the Borrower or in connection with the Ship owned by itVessel, or any Environmental Incident; (gh) any claim for breach of the ISM Code or the ISPS Code being made against that the Borrower, the any Approved Technical Manager or otherwise in connection with the Ship owned by itVessel; or (hi) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that the Borrower shall keep the Security Trustee Facility Agent advised in writing on a regular basis and in such detail as the Security Trustee Facility Agent shall require of that as to the Borrower’s's, the any Approved Technical Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower shall shall, in respect of the Ship owned by it, immediately notify the Security Trustee Facility Agent by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty to that Ship which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the that Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requisition of that Ship for hire; (d) any requirement or condition recommendation made in relation to that Ship by any insurer or classification society or by any competent authority which is not immediately complied with; (de) any arrest or detention of the that Ship owned by it, or any exercise or purported exercise of any Security Interest lien on that Ship or the Earnings or any requisition of that Ship for hireEarnings; (ef) any intended dry docking of the Ship owned by itthat Ship; (fg) any Environmental Claim made against that Borrower or in connection with the Ship owned by itthat Ship, or any Environmental Incident; (gh) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the an Approved Manager or otherwise in connection with the Ship owned by itthat Ship; or (hi) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that each Borrower shall keep the Security Trustee Facility Agent advised in writing on a regular basis and in such detail as the Security Trustee Facility Agent shall require of as to that Borrower’sBxxxxxxx's, the any such Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall procure that each Owner shall immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied withwith in accordance with its terms; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the her Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower Owner or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerOwner and, to the extent that that Owner is aware of such claim, an ISM Responsible Person, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, threatened the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and that Borrower that Owner shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’s, the Approved ManagerOwner’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall, and shall procure that the Collateral Owner shall immediately notify the Security Trustee Lender by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that such Ship or the its Earnings or any requisition of that such Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that the relevant Owner Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that the relevant Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that each Borrower shall keep the Security Trustee Lender advised in writing on a regular basis and in such detail as the Security Trustee Lender shall require of that Borrowereach Owner’sBorrower’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each The relevant Borrower shall immediately notify the Security Trustee by fax or Emailemail, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition made by any insurer or classification society Classification Society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest on that Ship or the Earnings or any requisition of that the Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that the relevant Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that the Borrower, the Approved Manager or otherwise in connection with the Ship owned by itShip; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and that the relevant Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee by fax or Email, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest on that Ship or the Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and that Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that the Borrower’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall Collateral Guarantor shall, in respect of the Ship owned by it, immediately notify the Security Trustee Facility Agent by fax or Emailemail, confirmed forthwith by letter, of: (a) any casualty to that Ship which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the that Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requisition of that Ship for hire; (d) any requirement or condition recommendation made in relation to that Ship by any insurer or classification society or by any competent authority which is not immediately complied with; (de) any arrest or detention of the that Ship owned by it, or any exercise or purported exercise of any Security Interest lien on that Ship or the Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by itEarnings; (f) any Environmental Claim made against that Borrower Collateral Guarantor or in connection with the Ship owned by itthat Ship, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerCollateral Guarantor, the an Approved Manager or otherwise in connection with the Ship owned by itthat Ship; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower each Collateral Guarantor shall keep the Security Trustee Facility Agent advised in writing on a regular basis and in such detail as the Security Trustee Facility Agent shall require of as to that Borrower’sCollateral Guarantor's, the any such Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower Guarantor shall in relation to each Ship owned by it immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the that Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by itthat Ship, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by itthat Ship; (f) any Environmental Claim made against that the Borrower or any Security Party or in connection with the Ship owned by itthat Ship, or any Environmental IncidentIncident in connection with that Ship; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerGuarantor, the Approved Manager of that Ship or otherwise in connection with the Ship owned by itthat Ship; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower Guarantor shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that BorrowerGuarantor’s, the that Approved Manager’s or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith forthwith, by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that the Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; with and that Borrower Xxxxxxxx shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’sXxxxxxxx's, the Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower Guarantor shall immediately notify the Security Trustee by fax or Email, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest on that Ship or the Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower Guarantor or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerGuarantor, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and that Borrower Guarantor shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee Majority Lenders shall require of that BorrowerGuarantor’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall procure that each Owner shall immediately notify the Security Trustee Lender by fax or Email, confirmed forthwith by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the her Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower Owner or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerOwner, an ISM Responsible Person, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower Owner shall keep the Security Trustee Lender advised in writing on a regular basis and in such detail as the Security Trustee Lender shall reasonably require of that BorrowerOwner’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall procure that the Owner shall immediately notify the Security Trustee Lender by fax or Emailemail, confirmed forthwith by letter, letter immediately upon becoming aware of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement requirement, condition or condition overdue recommendation made by any insurer or classification society or by any competent authority which is not immediately complied withwith within the time limits imposed by that insurer or classification society or authority; (d) any arrest or detention of the Ship owned by itShip, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that the Ship for hire; (e) any intended dry docking of the Ship owned by itShip; (f) any Environmental Claim made against that Borrower the Owner or in connection with the Ship owned by itShip, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrowerthe Owner, the Approved Manager Managers or otherwise in connection with the Ship owned by itShip; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower the Owner shall keep the Security Trustee Lender advised in writing on a regular basis and in such detail as the Security Trustee Lender shall require of that Borrower’sthe Owner's, the each Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee Agent by fax or Email, confirmed forthwith by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the its Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied withwithin the time limit, if any, imposed by any insurer or classification society or by any competent authority; (d) any arrest or detention of the Ship owned by itits Ship, any exercise or purported exercise of any Security Interest lien on that such Ship or the her Earnings or any requisition of that such Ship for hire; (e) any intended dry docking of the its Ship owned by itwhich is not routine; (f) any Environmental Claim made against that a Borrower or in connection with the Ship owned by itits Ship, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that a Borrower, the an Approved Manage, a Third Party Manager or otherwise in connection with the Ship owned by ita Ship; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or and/or the ISPS Code not being complied with; , and that Borrower the Borrowers shall keep the Security Trustee Agent advised in writing on a regular basis and in such detail as the Security Trustee Agent shall reasonably require of that Borrower’sthe Borrowers’, the affected Approved Managers’, the affected Third Party Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall immediately notify the Security Trustee by fax or Email, confirmed forthwith by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society (or any withdrawal of class) or by any competent authority which is not immediately complied withwith in accordance with its terms; (d) any arrest or detention of the Ship owned by itwhich is not lifted within forth eight (48) hours, any exercise or purported exercise of any Security Interest lien on that the Ship or the her Earnings or any requisition of that the Ship for hire; (e) any intended dry docking of the Ship owned by itShip; (f) any Environmental Claim made against that the Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that the Borrower, the Approved Manager or otherwise in connection with the Ship owned by itShip; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that the Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that the Borrower’s's, the Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee by fax or Email, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest on that Ship or the Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and that Borrower Xxxxxxxx shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that the Borrower’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the any technical Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and that Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’s, the that Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied withwith within the relevant specified time limit or, in the absence of such time limit, promptly; (d) any arrest or detention of the Ship owned by itits Ship, any exercise or purported exercise of any Security Interest lien on that its Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower any Borrower, a Collateral Guarantor or the Approved Manager or in connection with the any Ship owned by it, or Collateral Ship or any Environmental Incident; (gf) any claim for breach of the ISM Code, the ISPS Code or the ISPS Code MARPOL Protocol being made against that Borrower, any Borrower or the Approved Manager or otherwise in connection with the Ship owned by itany Ship; or (hg) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code, the ISPS Code or the ISPS Code MARPOL Protocol not being complied with; and that Borrower the Borrowers shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that each Borrower’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall shall, in respect of the Ship owned by it, immediately notify the Security Trustee Facility Agent by fax or Emailemail, confirmed forthwith by letter, of: (a) any casualty to that Ship which is or is likely to be or to may reasonably become a Major Casualty; (b) any occurrence as a result of which the that Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requisition of that Ship for hire; (d) any requirement or condition recommendation made in relation to that Ship by any insurer or classification society or by any competent authority which is not immediately complied with; (de) any arrest or detention of the that Ship owned by it, or any exercise or purported exercise of any Security Interest lien on that Ship or the Earnings or any requisition of that Ship for hireEarnings; (ef) any intended dry docking of the Ship owned by itthat Ship; (fg) any Environmental Claim made against that Borrower or in connection with the Ship owned by itthat Ship, or any Environmental Incident; (gh) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the an Approved Manager or otherwise in connection with the Ship owned by itthat Ship; or (hi) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that each Borrower shall keep the Security Trustee Facility Agent advised in writing on a regular basis and in such detail as the Security Trustee Facility Agent shall require (acting on the instructions of the Majority Lenders) as to that Borrower’s, the any such Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall procure that the Owner shall immediately notify the Security Trustee Lender by fax or Emailtelex, confirmed forthwith forthwith, by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied withwith its terms; (d) any arrest or detention of the Ship owned by itShip, any exercise or purported exercise of any Security Interest lien on that the Ship or the her Earnings or any requisition of that the Ship for hire; (e) any intended dry docking of the Ship owned by itShip; (f) any Environmental Claim made against that Borrower the Owner, the Approved Manager, the Approved Technical Sub-Manager or in connection with the Ship owned by itShip, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrowerthe Owner, the Approved Manager, the Approved Technical Sub-Manager or otherwise in connection with the Ship owned by itShip; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower the Owner shall keep the Security Trustee Lender advised in writing on a regular basis and in such detail as the Security Trustee Lender shall require of that Borrowerthe Owner’s, the Approved Manager’s, the Approved Technical Sub-Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall immediately notify the Security Trustee Facility Agent by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty to the Vessel which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it Vessel has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requisition of the Vessel for hire; (d) any requirement or condition recommendation made in relation to the Vessel by any insurer or classification society or by any competent authority which is not immediately complied with; (de) any arrest or detention of the Ship owned by itVessel, any exercise or purported exercise of any Security Interest lien on that Ship the Vessel or the Earnings or any requisition of that Ship the Vessel for hire; (ef) any intended dry docking of the Ship owned by itVessel; (fg) any Environmental Claim made against that the Borrower or in connection with the Ship owned by itVessel, or any Environmental Incident; (gh) any claim for breach of the ISM Code or the ISPS Code being made against that the Borrower, the any Approved Technical Manager or otherwise in connection with the Ship owned by itVessel; or (hi) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that the Borrower shall keep the Security Trustee Facility Agent advised in writing on a regular basis and in such detail as the Security Trustee Facility Agent shall require of that as to the Borrower’s, the any Approved Technical Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower Owner shall immediately notify the Security Trustee by fax or Email, confirmed forthwith by letterin writing, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied withwith promptly and in any case within the time limits set by the relevant insurer or classification society; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower Owner or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerOwner, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower Owner shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that BorrowerOwner’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower Shipowner shall immediately notify the Common Security Trustee Agent by fax or Email, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition made by any insurer or classification society Classification Society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest on that Ship or the Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower Shipowner or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerShipowner, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and that Borrower Shipowner shall keep the Common Security Trustee Agent advised in writing on a regular basis and in such detail as the Common Security Trustee Agent shall require of that Borrower’sShipowner's, the Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee Facility Agent by fax or Emailor, subject to Clause 38.5 (Electronic communication), by electronic mail, confirmed forthwith by letter, of: (a) any casualty to that Ship which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the that Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requisition of that Ship for hire; (d) any requirement or condition recommendation made in relation to its Ship by any insurer or classification society or by any competent authority which is not immediately complied with; (de) any arrest or detention of the that Ship owned by it, or any exercise or purported exercise of any Security Interest lien on that Ship or the Earnings or any requisition of that Ship for hireits Earnings; (ef) any intended dry docking of the Ship owned by itthat Ship; (fg) any Environmental Claim made against that Borrower or in connection with the Ship owned by itthat Ship, or any Environmental Incident; (gh) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the an Approved Manager or otherwise in connection with the Ship owned by itthat Ship; or (hi) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that each Borrower shall keep the Security Trustee Facility Agent advised in writing on a regular basis and in such detail as the Security Trustee Facility Agent (acting on the instructions of the Majority Lenders) shall require of as to that Borrower’sXxxxxxxx's, the any such Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee Lender by fax or Emailfax, confirmed forthwith forthwith, by letter, letter of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower shall keep the Security Trustee Lender advised in writing on a regular basis and in such detail as the Security Trustee Lender shall require of that Borrower’s's, the Approved Manager’s or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the any Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’s's, the that Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower Guarantor shall in relation to each Ship owned by it immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the that Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by itthat Ship, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by itthat Ship; (f) any Environmental Claim made against that the Borrower or any Security Party or in connection with the Ship owned by itthat Ship, or any Environmental IncidentIncident in connection with that Ship; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerGuarantor, the Approved Manager of that Ship or otherwise in connection with the Ship owned by itthat Ship; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that Borrower Guarantor shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that BorrowerGuarantor’s, the that Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower It shall immediately notify the Security Trustee Lender by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager Managers or otherwise in connection with the Ship owned by it; or; (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or and/or the ISPS Code not being complied with; and that Borrower shall keep the Security Trustee Lender advised in writing on a regular basis and in such detail as the Security Trustee Lender shall require of that Borrower’s's, the Approved Manager’s Managers’ or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee by fax or Emailemail, confirmed forthwith forthwith, by letter, letter of: (a) a. any casualty which is or is likely to be or to become a Major Casualty; (b) b. any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) c. any requirement or condition made by any insurer or classification society the Approved Classification Society or by any competent authority which is not immediately complied withwith within the specified time; (d) d. any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) e. any intended dry docking of the Ship owned by it; (f) f. any Environmental Claim made against that any Security Party or any Borrower or in connection with the Ship owned by itany Ship, or any Environmental Incident; (g) g. any claim for breach of the ISM Code or Code, the ISPS Code Code, any Environmental Laws or Sanctions being made against that Borrower, the Approved Ship Manager, any Approved Sub-Manager or otherwise in connection with the Ship owned by it; or (h) h. any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or Code, the ISPS Code Code, any Environmental Laws or Sanctions not being complied with; and that Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’sany Borrowers', the Guarantor, the Approved Ship Manager’s 's, the Approved Sub-Manager's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower It shall immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager Managers or otherwise in connection with the Ship owned by it; or; (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or and/or the ISPS Code not being complied with; and that Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’s, the Approved Manager’s Managers’ or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall shall, in respect of the Ship owned by it, immediately notify the Security Trustee Lender by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty to that Ship which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the that Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any Requisition of a Ship; (d) any requirement or condition recommendation made in relation to that Ship by any insurer or classification society or by any competent authority which is not immediately complied withwith within the time frame imposed; (de) any arrest or detention of the that Ship owned by it, or any exercise or purported exercise of any Security Interest lien on that Ship or the Earnings or any requisition of that Ship for hireEarnings; (ef) any intended dry docking of the Ship owned by itthat Ship; (fg) any Environmental Claim made against that Borrower Xxxxxxxx, an Approved Manager or in connection with the Ship owned by itthat Ship, or any Environmental Incident; (gh) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the an Approved Manager or otherwise in connection with the Ship owned by itthat Ship; or (hi) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that each Borrower shall keep the Security Trustee Lender advised in writing on a regular basis and in such detail as the Security Trustee Lender shall require of as to that Borrower’s's, the any such Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower The relevant Security Party shall immediately notify the Security Trustee by fax or Emailemail, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition made by any insurer or classification society the Classification Society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest on that Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower the relevant Security Party or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that Borrowerthe relevant Security Party, the relevant Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and that Borrower the relevant Security Party shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrower’sthe relevant Security Party's, the relevant Approved Manager’s 's or any other person’s 's response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee Facility Agent by fax or Emailor, subject to Clause 38.5 (Electronic communication), by electronic mail, confirmed forthwith by letter, of: (a) any casualty to that Ship which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the that Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requisition of that Ship for hire; (d) any requirement or condition recommendation made in relation to its Ship by any insurer or classification society or by any competent authority which is not immediately complied with; (de) any arrest or detention of the that Ship owned by it, or any exercise or purported exercise of any Security Interest lien on that Ship or the Earnings or any requisition of that Ship for hireits Earnings; (ef) any intended dry docking of the Ship owned by itthat Ship; (fg) any Environmental Claim made against that Borrower or in connection with the Ship owned by itthat Ship, or any Environmental Incident; (gh) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the an Approved Manager or otherwise in connection with the Ship owned by itthat Ship; or (hi) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that each Borrower shall keep the Security Trustee Facility Agent advised in writing on a regular basis and in such detail as the Security Trustee Facility Agent (acting on the instructions of the Majority Lenders) shall require of as to that Borrower’s, the any such Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall immediately notify the Security Trustee by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied withwith within the relevant specified time limit or, in the absence of such time limit, promptly; (d) any arrest or detention of the Ship owned by ita Ship, any exercise or purported exercise of any Security Interest lien on that a Ship or the its Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that a Borrower or the Approved Manager or a Sub Manager or in connection with the any Ship owned by it, or any Environmental Incident; (gf) any claim for breach of the ISM Code, the ISPS Code or the ISPS Code MARPOL Protocol being made against that Borrower, an Owner or the Approved Manager or a Sub Manager or otherwise in connection with the Ship owned by itany Ship; or (hg) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code, the ISPS Code or the ISPS Code MARPOL Protocol not being complied with; and that each Borrower shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that Borrowerthe relevant Owner’s, the Approved Manager’s, the relevant Sub Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower Guarantor shall immediately notify the Security Trustee by fax or Email, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition made by any insurer or classification society or by any competent authority which is not immediately complied with; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest on that Ship or the Earnings or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower Guarantor or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerGuarantor, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and that Borrower Guarantor shall keep the Security Trustee advised in writing on a regular basis and in such detail as the Security Trustee shall require of that BorrowerGuarantor’s, the Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall procure that each Owner shall immediately notify the Security Trustee Agent by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requirement or condition recommendation made by any insurer or classification society or by any competent authority which is not immediately complied withwith in accordance with its terms; (d) any arrest or detention of the Ship owned by it, any exercise or purported exercise of any Security Interest lien on that Ship or the her Earnings or her Insurances or any requisition of that Ship for hire; (e) any intended dry docking of the Ship owned by it; (f) any Environmental Claim made against that Borrower Owner or in connection with the Ship owned by it, or any Environmental Incident; (g) any claim for breach of the ISM Code or the ISPS Code being made against that BorrowerOwner and, to the extent that that Owner is aware of such claim, the Approved Manager or otherwise in connection with the Ship owned by it; or (h) any other matter, event or incident, actual or threatened, threatened the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; and that Borrower that Owner shall keep the Security Trustee Agent advised in writing on a regular basis and in such detail as the Security Trustee Agent shall require of that Borrower’s, the Approved ManagerOwner’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each Borrower shall shall, in respect of the Vessel owned by it, immediately notify the Security Trustee Facility Agent by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty to that Vessel which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it that Vessel has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requisition of that Vessel for hire; (d) any requirement or condition recommendation made in relation to that Vessel by any insurer or classification society or by any competent authority which is not immediately complied with; (de) any arrest or detention of the Ship owned by itthat Vessel, any exercise or purported exercise of any Security Interest lien on that Ship Vessel or the its Earnings or any requisition of that Ship Vessel for hire; (ef) any intended unscheduled dry docking of the Ship owned by itthat Vessel; (fg) any Environmental Claim made against that Borrower or in connection with the Ship owned by itthat Vessel, or any Environmental Incident; (gh) any claim for breach of the ISM Code or the ISPS Code being made against that Borrower, the Approved Manager or otherwise in connection with the Ship owned by itthat Vessel; or (hi) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that each Borrower shall keep the Security Trustee Facility Agent advised in writing on a regular basis and in such detail as the Security Trustee Facility Agent shall require of as to that Borrower’s, the any such Approved Manager’s or any other person’s response to any of those events or matters.

Notification of Certain Events. Each The Borrower shall immediately notify the Security Trustee Facility Agent by fax or Emailfax, confirmed forthwith by letter, of: (a) any casualty to the Ship which is or is likely to be or to become a Major Casualty; (b) any occurrence as a result of which the Ship owned by it has become or is, by the passing of time or otherwise, likely to become a Total Loss; (c) any requisition of the Ship for hire; (d) any requirement or condition recommendation made in relation to the Ship by any insurer or classification society or by any competent authority which is not immediately complied with; (de) any arrest or detention of the Ship owned by it, or any exercise or purported exercise of any Security Interest lien on that the Ship or the Earnings or any requisition of that Ship for hireEarnings; (ef) any intended dry docking of the Ship owned by it(which for the avoidance of any doubt, should take place at least once during the Security Period); (fg) any Environmental Claim made against that the Borrower or in connection with the Ship owned by itShip, or any Environmental Incident; (gh) any claim for breach of the ISM Code or the ISPS Code being made against that the Borrower, the an Approved Manager or otherwise in connection with the Ship owned by itShip; or (hi) any other matter, event or incident, actual or threatened, the effect of which will or could lead to the ISM Code or the ISPS Code not being complied with; , and that the Borrower shall keep the Security Trustee Facility Agent advised in writing on a regular basis and in such detail as the Security Trustee Facility Agent shall require of that as to the Borrower’s, the any such Approved Manager’s or any other person’s response to any of those events or matters.