Common use of OWNER’S COVENANTS Clause in Contracts

OWNER’S COVENANTS. Section 4.1 The Owner covenants and agrees with the Mortgagee as follows: 4.1.1 it is and will remain a company duly constituted, validly existing and in good standing under the laws of Bermuda; 4.1.2 it lawfully owns and is lawfully possessed of all the shares in the Vessel free from any lien or encumbrance whatsoever except for this Deed, the Mortgage and any Permitted Lien and will warrant and defend the title and possession thereto and to every part thereof for the benefit of the Mortgagee against the claims and demands of all other persons whomsoever; 4.1.3 it will perform, observe and comply with the covenants, terms and obligations and conditions on its part to be performed, observed and complied with contained or implied in the Secured Debt Documents; 4.1.4 it will place, and at all times and places will retain a properly certified copy of this Deed and the Mortgage on board the Vessel with her papers and will cause such certified copy and the Vessel’s marine document to be exhibited to any and all person having business therewith which might give rise to any lien thereon other than liens for crew’s wages and salvage, and to any representative of the Mortgagee; 4.1.5 it will place and keep prominently displayed in the chart room and in the Master’s cabin on the Vessel a framed printed notice in plain type reading as follows: THIS VESSEL IS OWNED BY BREAKAWAY FOUR LTD., AND IS SUBJECT TO A FIRST PRIORITY MORTGAGE IN FAVOR OF KFW IPEX-BANK GMBH, AS COLLATERAL AGENT/MORTGAGEE UNDER AUTHORITY OF THE MERCHANT SHIPPING ACT OF THE STATUTE LAWS OF THE BAHAMAS, CHAPTER 268, AS AMENDED. UNDER THE TERMS OF SAID MORTGAGE, NEITHER THE OWNER, ANY CHARTERER, THE MASTER OF THE VESSEL, NOR ANY OTHER PERSON HAS ANY RIGHT, POWER OR AUTHORITY TO CREATE, INCUR OR PERMIT TO BE PLACED OR IMPOSED UPON THE VESSEL, ANY ENCUMBRANCES WHATSOEVER OR ANY OTHER LIEN WHATSOEVER OTHER THAN FOR CREW’S WAGES AND SALVAGE.”; 4.1.6 it will do and permit to be done each and every act or thing whatsoever which the Mortgagee may require to be done for the purpose of enforcing the Mortgagee’s rights hereunder and allow the Mortgagee to use the Owner’s name as may be required for that purpose; 4.1.7 it will not create or permit to subsist any Lien on the whole or any part of the Vessel except for Liens created with the prior consent of the Mortgagee or Permitted Liens; and 4.1.8 if a libel, arrest, complaint or similar process be filed against the Vessel or the Vessel be otherwise attached, levied upon or taken into custody or detained by virtue of any proceeding in any court or tribunal or by any Government, or other authority, the Owner will promptly notify the Mortgagee thereof by telex, or telefax confirmed by letter, at the address, as specified in this Deed, and within [*] days will cause the Vessel to be released and all liens thereon other than the Mortgage to be discharged, will cause a certificate of discharge to be recorded in the case of any recording of a notice of claim of lien, and will promptly notify the Mortgagee thereof in the manner aforesaid. The Owner will notify the Mortgagee within [*] hours of any average or salvage incurred by the Vessel.

OWNER’S COVENANTS. Section 4.1 The Owner covenants and agrees with the Mortgagee as follows: 4.1.1 it is and will remain a company duly constituted, validly existing and in good standing under the laws of Bermuda; 4.1.2 it lawfully owns and is lawfully possessed of all the shares in the Vessel free from any lien or encumbrance whatsoever except for this Deed, the Mortgage and any Permitted Lien and will warrant and defend the title and possession thereto and to every part thereof for the benefit of the Mortgagee against the claims and demands of all other persons whomsoever; 4.1.3 it will perform, observe and comply with the covenants, terms and obligations and conditions on its part to be performed, observed and complied with contained or implied in the Secured Debt Documents; 4.1.4 it will place, and at all times and places will retain a properly certified copy of this Deed and the Mortgage on board the Vessel with her papers and will cause such certified copy and the Vessel’s marine document to be exhibited to any and all person having business therewith which might give rise to any lien thereon other than liens for crew’s wages and salvage, and to any representative of the Mortgagee; 4.1.5 it will place and keep prominently displayed in the chart room and in the Master’s cabin on the Vessel a framed printed notice in plain type reading as follows: THIS VESSEL IS OWNED BY BREAKAWAY FOUR THREE LTD., AND IS SUBJECT TO A FIRST PRIORITY MORTGAGE IN FAVOR OF KFW IPEX-BANK GMBH, AS COLLATERAL AGENT/MORTGAGEE UNDER AUTHORITY OF THE MERCHANT SHIPPING ACT OF THE STATUTE LAWS OF THE BAHAMAS, CHAPTER 268, AS AMENDED. UNDER THE TERMS OF SAID MORTGAGE, NEITHER THE OWNER, ANY CHARTERER, THE MASTER OF THE VESSEL, NOR ANY OTHER PERSON HAS ANY RIGHT, POWER OR AUTHORITY TO CREATE, INCUR OR PERMIT TO BE PLACED OR IMPOSED UPON THE VESSEL, ANY ENCUMBRANCES WHATSOEVER OR ANY OTHER LIEN WHATSOEVER OTHER THAN FOR CREW’S WAGES AND SALVAGE.”; 4.1.6 it will do and permit to be done each and every act or thing whatsoever which the Mortgagee may require to be done for the purpose of enforcing the Mortgagee’s rights hereunder and allow the Mortgagee to use the Owner’s name as may be required for that purpose; 4.1.7 it will not create or permit to subsist any Lien on the whole or any part of the Vessel except for Liens created with the prior consent of the Mortgagee or Permitted Liens; and 4.1.8 if a libel, arrest, complaint or similar process be filed against the Vessel or the Vessel be otherwise attached, levied upon or taken into custody or detained by virtue of any proceeding in any court or tribunal or by any Government, or other authority, the Owner will promptly notify the Mortgagee thereof by telex, or telefax confirmed by letter, at the address, as specified in this Deed, and within [*] days will cause the Vessel to be released and all liens thereon other than the Mortgage to be discharged, will cause a certificate of discharge to be recorded in the case of any recording of a notice of claim of lien, and will promptly notify the Mortgagee thereof in the manner aforesaid. The Owner will notify the Mortgagee within [*] hours of any average or salvage incurred by the Vessel.

OWNER’S COVENANTS. Section 4.1 The Owner covenants and agrees with the Mortgagee as follows: 4.1.1 it is and will remain a company duly constituted, validly existing and in good standing under the laws of Bermuda; 4.1.2 it lawfully owns and is lawfully possessed of all the shares in the Vessel free from any lien or encumbrance whatsoever except for this Deed, the Mortgage and any Permitted Lien and will warrant and defend the title and possession thereto and to every part thereof for the benefit of the Mortgagee against the claims and demands of all other persons whomsoever; 4.1.3 it will perform, observe and comply with the covenants, terms and obligations and conditions on its part to be performed, observed and complied with contained or implied in the Secured Debt Documents; 4.1.4 it will place, and at all times and places will retain a properly certified copy of this Deed and the Mortgage on board the Vessel with her papers and will cause such certified copy and the Vessel’s marine document to be exhibited to any and all person having business therewith which might give rise to any lien thereon other than liens for crew’s wages and salvage, and to any representative of the Mortgagee; 4.1.5 it will place and keep prominently displayed in the chart room and in the Master’s cabin on the Vessel a framed printed notice in plain type reading as follows: THIS VESSEL IS OWNED BY BREAKAWAY FOUR SEAHAWK ONE, LTD., AND IS SUBJECT TO A FIRST PRIORITY MORTGAGE IN FAVOR OF KFW IPEX-BANK GMBH, AS COLLATERAL AGENT/MORTGAGEE UNDER AUTHORITY OF THE MERCHANT SHIPPING ACT OF THE STATUTE LAWS OF THE BAHAMAS, CHAPTER 268, AS AMENDED. UNDER THE TERMS OF SAID MORTGAGE, NEITHER THE OWNER, ANY CHARTERER, THE MASTER OF THE VESSEL, NOR ANY OTHER PERSON HAS ANY RIGHT, POWER OR AUTHORITY TO CREATE, INCUR OR PERMIT TO BE PLACED OR IMPOSED UPON THE VESSEL, ANY ENCUMBRANCES WHATSOEVER OR ANY OTHER LIEN WHATSOEVER OTHER THAN FOR CREW’S WAGES AND SALVAGE.”; 4.1.6 it will do and permit to be done each and every act or thing whatsoever which the Mortgagee may require to be done for the purpose of enforcing the Mortgagee’s rights hereunder and allow the Mortgagee to use the Owner’s name as may be required for that purpose; 4.1.7 it will not create or permit to subsist any Lien on the whole or any part of the Vessel except for Liens created with the prior consent of the Mortgagee or Permitted Liens; and 4.1.8 if a libel, arrest, complaint or similar process be filed against the Vessel or the Vessel be otherwise attached, levied upon or taken into custody or detained by virtue of any proceeding in any court or tribunal or by any Government, or other authority, the Owner will promptly notify the Mortgagee thereof by telex, or telefax confirmed by letter, at the address, as specified in this Deed, and within [*] days will cause the Vessel to be released and all liens thereon other than the Mortgage to be discharged, will cause a certificate of discharge to be recorded in the case of any recording of a notice of claim of lien, and will promptly notify the Mortgagee thereof in the manner aforesaid. The Owner will notify the Mortgagee within [*] hours of any average or salvage incurred by the Vessel.

OWNER’S COVENANTS. Section 4.1 The Owner covenants and agrees with the Mortgagee as follows: 4.1.1 it is and will remain a company duly constituted, validly existing and in good standing under the laws of Bermuda; 4.1.2 it lawfully owns and is lawfully possessed of all the shares in the Vessel free from any lien or encumbrance whatsoever except for this Deed, the Mortgage and any Permitted Lien and will warrant and defend the title and possession thereto and to every part thereof for the benefit of the Mortgagee against the claims and demands of all other persons whomsoever; 4.1.3 it will perform, observe and comply with the covenants, terms and obligations and conditions on its part to be performed, observed and complied with contained or implied in the Secured Debt Documents; 4.1.4 it will place, and at all times and places will retain a properly certified copy of this Deed and the Mortgage on board the Vessel with her papers and will cause such certified copy and the Vessel’s marine document to be exhibited to any and all person having business therewith which might give rise to any lien thereon other than liens for crew’s wages and salvage, and to any representative of the Mortgagee; 4.1.5 it will place and keep prominently displayed in the chart room and in the Master’s cabin on the Vessel a framed printed notice in plain type reading as follows: THIS VESSEL IS OWNED BY BREAKAWAY FOUR SEAHAWK TWO, LTD., AND IS SUBJECT TO A FIRST PRIORITY MORTGAGE IN FAVOR OF KFW IPEX-BANK GMBH, AS COLLATERAL AGENT/MORTGAGEE UNDER AUTHORITY OF THE MERCHANT SHIPPING ACT OF THE STATUTE LAWS OF THE BAHAMAS, CHAPTER 268, AS AMENDED. UNDER THE TERMS OF SAID MORTGAGE, NEITHER THE OWNER, ANY CHARTERER, THE MASTER OF THE VESSEL, NOR ANY OTHER PERSON HAS ANY RIGHT, POWER OR AUTHORITY TO CREATE, INCUR OR PERMIT TO BE PLACED OR IMPOSED UPON THE VESSEL, ANY ENCUMBRANCES WHATSOEVER OR ANY OTHER LIEN WHATSOEVER OTHER THAN FOR CREW’S WAGES AND SALVAGE.”; 4.1.6 it will do and permit to be done each and every act or thing whatsoever which the Mortgagee may require to be done for the purpose of enforcing the Mortgagee’s rights hereunder and allow the Mortgagee to use the Owner’s name as may be required for that purpose; 4.1.7 it will not create or permit to subsist any Lien on the whole or any part of the Vessel except for Liens created with the prior consent of the Mortgagee or Permitted Liens; and 4.1.8 if a libel, arrest, complaint or similar process be filed against the Vessel or the Vessel be otherwise attached, levied upon or taken into custody or detained by virtue of any proceeding in any court or tribunal or by any Government, or other authority, the Owner will promptly notify the Mortgagee thereof by telex, or telefax confirmed by letter, at the address, as specified in this Deed, and within [*] days will cause the Vessel to be released and all liens thereon other than the Mortgage to be discharged, will cause a certificate of discharge to be recorded in the case of any recording of a notice of claim of lien, and will promptly notify the Mortgagee thereof in the manner aforesaid. The Owner will notify the Mortgagee within [*] hours of any average or salvage incurred by the Vessel.

OWNER’S COVENANTS. Section 4.1 The Owner hereby covenants and agrees with the Mortgagee as follows: 4.1.1 it is (a) to assume all risks in commencing construction on the of the subject construction before every requirement to obtain a Full Building Permit has been met and the Pumping Station has been constructed, commissioned and fully operation and agrees that he or she will remain a company duly constitutedindemnify and save harmless the Municipality from and against all claims, validly existing and in good standing under actions, costs and/or awards arising from the laws issuance of Bermudathe Conditional Building Permit; 4.1.2 it lawfully owns (b) to prohibit Occupancy and not to request an Occupancy Inspection on the Lands until such time as the Pumping Station has been constructed, commissioned and is lawfully possessed operating to the satisfaction of all the shares Municipality; (c) to immediately stop construction on the Lands and secure the site to the satisfaction of the CBO, if in the Vessel free from any lien or encumbrance whatsoever except for this Deed, the Mortgage and any Permitted Lien and will warrant and defend the title and possession thereto and to every part thereof for the benefit opinion of the Mortgagee against CBO, at his sole discretion, any impediment arises to prevent the claims and demands lawful continuation of all other persons whomsoeverthe subject construction; 4.1.3 it will perform, observe and comply with the covenants, terms and obligations and conditions on its part (d) to be performed, observed and complied with contained or implied in the Secured Debt Documents; 4.1.4 it will place, and at all times and places will retain a properly certified copy of this Deed and the Mortgage on board the Vessel with her papers and will cause such certified copy and the Vessel’s marine document to be exhibited to take any and all person having business therewith which might give rise measures necessary, if requested by the CBO in writing, to any lien thereon other than liens for crew’s wages remove the subject construction and salvagerestore the site if all necessary approvals have not been obtained and the Pumping Station has not been constructed and commissioned within one (1) year from the date of the issuance of the Conditional Building Permit; (e) to comply with all development standards, approvals, by-laws, laws and regulations that are applicable to the Lands including but not limited to site servicing, grading, fire protection, and storm water management; (f) to provide and maintain access for emergency vehicles to the satisfaction to the Municipality’s Fire Chief; (g) to defend, indemnify and save harmless the Municipality and CBO from any representative and all claims whatsoever arising from this Agreement, including but not limited to, those arising out of: a) Any breach, violation, or non-performance of any covenant, condition or agreement set forth in this Agreement to be fulfilled, kept, observed or performed by the Owner; or b) Any damage to or loss of property occasioned, connected to, or related to this Agreement. The obligation of the Mortgagee; 4.1.5 it will place Owner to indemnify the Municipality and keep prominently displayed in the chart room and in the Master’s cabin on the Vessel a framed printed notice in plain type reading as follows: THIS VESSEL IS OWNED BY BREAKAWAY FOUR LTD., AND IS SUBJECT TO A FIRST PRIORITY MORTGAGE IN FAVOR OF KFW IPEX-BANK GMBH, AS COLLATERAL AGENT/MORTGAGEE UNDER AUTHORITY OF THE MERCHANT SHIPPING ACT OF THE STATUTE LAWS OF THE BAHAMAS, CHAPTER 268, AS AMENDED. UNDER THE TERMS OF SAID MORTGAGE, NEITHER THE OWNER, ANY CHARTERER, THE MASTER OF THE VESSEL, NOR ANY OTHER PERSON HAS ANY RIGHT, POWER OR AUTHORITY TO CREATE, INCUR OR PERMIT TO BE PLACED OR IMPOSED UPON THE VESSEL, ANY ENCUMBRANCES WHATSOEVER OR ANY OTHER LIEN WHATSOEVER OTHER THAN FOR CREW’S WAGES AND SALVAGE.”; 4.1.6 it will do and permit to be done each and every act or thing whatsoever which the Mortgagee may require to be done for the purpose of enforcing the Mortgagee’s rights hereunder and allow the Mortgagee to use the Owner’s name as may be required for that purpose; 4.1.7 it will not create or permit to subsist any Lien on the whole or any part of the Vessel except for Liens created with the prior consent of the Mortgagee or Permitted Liens; and 4.1.8 if a libel, arrest, complaint or similar process be filed against the Vessel or the Vessel be otherwise attached, levied upon or taken into custody or detained by virtue of any proceeding in any court or tribunal or by any Government, or other authority, the Owner will promptly notify the Mortgagee thereof by telex, or telefax confirmed by letter, at the address, as specified CBO contained in this DeedSection shall survive any termination of this Agreement, and within [*] days will cause anything in this Agreement to the Vessel to be released and all liens thereon other than the Mortgage to be discharged, will cause a certificate of discharge to be recorded in the case of any recording of a notice of claim of lien, and will promptly notify the Mortgagee thereof in the manner aforesaid. The Owner will notify the Mortgagee within [*] hours of any average or salvage incurred by the Vesselcontrary notwithstanding.

OWNER’S COVENANTS. Section 4.1 9.1 Subject to clause 8, the Owner acknowledges that the reinstatement obligations of CPWL under clause 6, together with the terms and conditions of the Agreement and the Easement, are in full and final settlement and substitution of any claims to compensation the Owner may be entitled to make against CPWL in relation to the Works, the Operations and Site Restoration. 9.2 The Owner covenants agrees, warrants and agrees with the Mortgagee as followsundertakes to CPWL that: 4.1.1 it is and will remain a company duly constituted, validly existing and in good standing (a) no person other than CPWL holds any rights to conduct anything on or under the laws Works Area including exploration or mining and the Owner will not negotiate or grant any such rights during the Term of Bermudathe Agreement without obtaining CPWL’s prior consent such consent not to be unreasonably withheld; 4.1.2 it lawfully owns and is lawfully possessed of all (b) no access arrangement or agreement has been negotiated or entered into by the shares Owner in the Vessel free from any lien or encumbrance whatsoever except for this Deed, the Mortgage and any Permitted Lien and will warrant and defend the title and possession thereto and to every part thereof for the benefit respect of the Mortgagee against the claims and demands of all other persons whomsoever; 4.1.3 it will perform, observe and comply with the covenants, terms and obligations and conditions on its part to be performed, observed and complied with contained or implied in the Secured Debt Documents; 4.1.4 it will place, and at all times and places will retain a properly certified copy of this Deed and the Mortgage on board the Vessel with her papers and will cause such certified copy and the Vessel’s marine document to be exhibited to any and all person having business therewith which might give rise to any lien thereon other than liens for crew’s wages and salvage, and to any representative of the Mortgagee; 4.1.5 it will place and keep prominently displayed in the chart room and in the Master’s cabin on the Vessel a framed printed notice in plain type reading as follows: THIS VESSEL IS OWNED BY BREAKAWAY FOUR LTD., AND IS SUBJECT TO A FIRST PRIORITY MORTGAGE IN FAVOR OF KFW IPEX-BANK GMBH, AS COLLATERAL AGENT/MORTGAGEE UNDER AUTHORITY OF THE MERCHANT SHIPPING ACT OF THE STATUTE LAWS OF THE BAHAMAS, CHAPTER 268, AS AMENDED. UNDER THE TERMS OF SAID MORTGAGE, NEITHER THE OWNER, ANY CHARTERER, THE MASTER OF THE VESSEL, NOR ANY OTHER PERSON HAS ANY RIGHT, POWER OR AUTHORITY TO CREATE, INCUR OR PERMIT TO BE PLACED OR IMPOSED UPON THE VESSEL, ANY ENCUMBRANCES WHATSOEVER OR ANY OTHER LIEN WHATSOEVER OTHER THAN FOR CREW’S WAGES AND SALVAGE.”; 4.1.6 it will do and permit to be done each and every act or thing whatsoever which the Mortgagee may require to be done for the purpose of enforcing the Mortgagee’s rights hereunder and allow the Mortgagee to use the Owner’s name as may be required for that purpose; 4.1.7 it will not create or permit to subsist any Lien on the whole Works Area or any part of the Vessel except for Liens created with Works Area and the Owner will not negotiate or enter into any access arrangement or agreement during the Term of the Agreement without obtaining CPWL’s prior consent such consent not to be unreasonably withheld; (c) the Owner is the owner of the Mortgagee or Permitted LiensLand and no other person has any right to claim any rights to ownership of the Land; and 4.1.8 (d) either the Owner is the sole occupier of the Works Area or the Owner has by the date of the Application Form obtained a deed of covenant with the occupiers of the Works Area under clause 12.3 9.3 The Owner will not, in its capacity as owner or occupier of the Land or both, either directly or indirectly: (a) object to the application for or the granting of any Resource Consent sought by CPWL for any Operations; (b) object to, advocate against, oppose or impede any action taken by CPWL under the RMA to give effect to any of the matters referred to in the Agreement or for the purpose of undertaking the Operations provided such actions do not cause any further loss to the Owner or the Owner’s lessee or tenant (if any) as the case may be (unless the Agreement provides for a libelright to compensation for that loss); (c) fund, arrestfacilitate, complaint assist or similar process promote any other person to take any action that would be filed in breach of the Agreement if done by the Owner; (d) object to the granting of any other consent required by CPWL to undertake the Operations; or (e) object to the granting of a Designation over that part of the Easement Area used to convey water. 9.4 The Owner will promptly give, sign and deliver all written approvals or consents requested by CPWL including in relation to any building consent or any consent to a Resource Consent application under section 94 of the RMA or otherwise for any activity to be undertaken by CPWL pursuant to the Agreement or the Easement. 9.5 The Owner will promptly give, sign and deliver all written approvals or consents requested by CPWL to any application for an authority from the Historic Places Trust. 9.6 The Owner will execute and return to CPWL all plans and documents including the instrument required to register the Easement within 20 Working Days of receipt of a written request to do so from CPWL and the Owner will do all things reasonably necessary to enable CPWL to obtain and register the Easement against the Vessel or Computer Register(s) for the Vessel be otherwise attached, levied upon or taken into custody or detained by virtue of any proceeding in any court or tribunal or Land. 9.7 If CPWL is required by any GovernmentResource Consent (including the Designation) to undertake any reasonable mitigation measures on the Land, including any planting or other authorityearthworks, the Owner will promptly notify allow CPWL to undertake the Mortgagee thereof by telex, or telefax confirmed by letter, at mitigation measures and the address, as specified in this Deed, and within [*] days definition of Operations will cause the Vessel be extended to be released and all liens thereon other than the Mortgage to be discharged, will cause a certificate of discharge to be recorded in the case of any recording of a notice of claim of lien, and will promptly notify the Mortgagee thereof in the manner aforesaid. The Owner will notify the Mortgagee within [*] hours of any average or salvage incurred by the Vesselinclude such reasonable mitigation measures.

OWNER’S COVENANTS. Section 4.1 The Owner hereby covenants with and agrees Undertakes to) the Council as follows:- not to apply to the Council for a Parking Permit in respect of any of the Residential Units nor to knowingly permit any owner or occupier of the Residential Units to apply to the Council for a Parking Permit and if such a permit is issued in respect of any of the Residential Units the person to whom it is issued shall surrender it to the Council within 7 days of written demand that all material used for advertising or marketing the Residential Units for letting or sale will notify prospective owners and occupiers that they will not be entitled to apply for a Parking Permit in respect of the Residential Units that in respect of every lease tenancy or licence to occupy granted in respect of any of the Residential Units the following covenant shall be imposed (or a covenant of substantially the same nature in respect of any tenancy agreement licence or other instrument entitling occupation of any of the Residential Units): “the lessee for himself and his successors in title being the owner or owners for the time being of the term of years hereby granted hereby covenant with the Mortgagee as follows: 4.1.1 lessor and separately with the Mayor and Burgesses of the Royal Borough of Kensington and Chelsea (“the Council”) not to apply for nor knowingly permit an application to be made by any person residing in the premises to the Royal Borough of Kensington and Chelsea for a residents parking permit in respect of such premises and if such a permit is issued then it is shall be surrendered within 7 days of written request to do so from the Council and will remain a company duly constituted, validly existing and in good standing this covenant shall also be enforceable by the Council under the laws Contracts (Rights of Bermuda; 4.1.2 it lawfully owns and is lawfully possessed of all Third Parties) Xxx 0000, section 1” to send to the shares in the Vessel free from any lien or encumbrance whatsoever except for this Deed, the Mortgage and any Permitted Lien and will warrant and defend the title and possession thereto and to every part thereof for the benefit of the Mortgagee against the claims and demands of all other persons whomsoever; 4.1.3 it will perform, observe and comply with the covenants, terms and obligations and conditions on its part to be performed, observed and complied with contained or implied in the Secured Debt Documents; 4.1.4 it will place, and at all times and places will retain Executive Director a properly certified copy of the lease within 10 working days of the grant of any lease in respect of the Residential Units IN WITNESS of which this Deed and has been executed on the Mortgage on board the Vessel with her papers and will cause such certified copy and the Vessel’s marine document to be exhibited to any and all person having business therewith which might give rise to any lien thereon other than liens for crew’s wages and salvage, and to any representative first date before written THE COMMON SEAL of the Mortgagee; 4.1.5 it will place and keep prominently displayed MAYOR ) AND BURGESSES OF THE ROYAL ) BOROUGH of KENSINGTON AND ) CHELSEA was hereunto affixed ) in the chart room and presence of:- ) Authorised Signatory EXECUTED as a DEED by ) XXXXX HOUSE SECURITIES LIMITED ) acting by a director ) ……..………………................................. in the Master’s cabin on the Vessel a framed printed notice in plain type reading as followspresence of: THIS VESSEL IS OWNED BY BREAKAWAY FOUR LTD) Director Witness: ………………............................... Name: …………………................................ Address: ………………............................... ……………., AND IS SUBJECT TO A FIRST PRIORITY MORTGAGE IN FAVOR OF KFW IPEX-BANK GMBH, AS COLLATERAL AGENT/MORTGAGEE UNDER AUTHORITY OF THE MERCHANT SHIPPING ACT OF THE STATUTE LAWS OF THE BAHAMAS, CHAPTER 268, AS AMENDED. UNDER THE TERMS OF SAID MORTGAGE, NEITHER THE OWNER, ANY CHARTERER, THE MASTER OF THE VESSEL, NOR ANY OTHER PERSON HAS ANY RIGHT, POWER OR AUTHORITY TO CREATE, INCUR OR PERMIT TO BE PLACED OR IMPOSED UPON THE VESSEL, ANY ENCUMBRANCES WHATSOEVER OR ANY OTHER LIEN WHATSOEVER OTHER THAN FOR CREW’S WAGES AND SALVAGE…………….................................. …………….”; 4.1.6 it will do and permit to be done each and every act or thing whatsoever which the Mortgagee may require to be done for the purpose of enforcing the Mortgagee’s rights hereunder and allow the Mortgagee to use the Owner’s name as may be required for that purpose; 4.1.7 it will not create or permit to subsist any Lien on the whole or any part of the Vessel except for Liens created with the prior consent of the Mortgagee or Permitted Liens; and 4.1.8 if a libel, arrest, complaint or similar process be filed against the Vessel or the Vessel be otherwise attached, levied upon or taken into custody or detained by virtue of any proceeding in any court or tribunal or by any Government, or other authority, the Owner will promptly notify the Mortgagee thereof by telex, or telefax confirmed by letter, at the address, as specified in this Deed, and within [*] days will cause the Vessel to be released and all liens thereon other than the Mortgage to be discharged, will cause a certificate of discharge to be recorded in the case of any recording of a notice of claim of lien, and will promptly notify the Mortgagee thereof in the manner aforesaid. The Owner will notify the Mortgagee within [*] hours of any average or salvage incurred by the Vessel.……………..................................