Common use of Prevention of and release from arrest Clause in Contracts

Prevention of and release from arrest. The Borrower shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship, the Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship, the Earnings or the Insurances; and (c) all other outgoings whatsoever in respect of the Ship, the Earnings or the Insurances, and, forthwith upon receiving notice of the arrest of the Ship, or of its detention in exercise or purported exercise of any lien or claim, the Borrower shall procure its release by providing bail or otherwise as the circumstances may require.

Appears in 17 contracts

Samples: Amending and Restating Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Holdings Inc.)

AutoNDA by SimpleDocs

Prevention of and release from arrest. The Each Borrower shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the ShipShip owned by it, the Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the that Ship, the Earnings or the Insurances; and (c) all other outgoings whatsoever in respect of the that Ship, the Earnings or the Insurances, and, forthwith upon receiving notice of the arrest of the that Ship, or of its detention in exercise or purported exercise of any lien or claim, the that Borrower shall procure its release by providing bail or otherwise as the circumstances may require.

Appears in 13 contracts

Samples: Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Acquisition CORP)

Prevention of and release from arrest. The Borrower shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship, the Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship, the Earnings or the Insurances; and (c) all other outgoings whatsoever in respect of the Ship, the Earnings or the Insurances, ; and, forthwith upon receiving notice of the arrest of the Ship, or of its detention in exercise or purported exercise of any lien or claim, the Borrower shall procure its release by providing bail or otherwise as the circumstances may require.

Appears in 7 contracts

Samples: Amending and Restating Agreement (GasLog Partners LP), Loan Agreement (GasLog Partners LP), Amending and Restating Agreement

Prevention of and release from arrest. The Borrower shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship, the Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship, the Earnings or the Insurances; and (c) all other outgoings whatsoever in respect of the Ship, the Earnings or the Insurances, and, forthwith upon receiving notice of the arrest of the Ship, or of its detention in exercise or purported exercise of any lien or claim, the Borrower shall procure its the Ship's release by providing bail or otherwise as the circumstances may require.

Appears in 3 contracts

Samples: Loan Agreement (Euroseas Ltd.), Loan Agreement (Euroseas Ltd.), Loan Agreement (Euroseas Ltd.)

Prevention of and release from arrest. The Each Borrower shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the ShipShip owned by it, the its Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the that Ship, the its Earnings or the Insurances; and (c) all other outgoings whatsoever in respect of the that Ship, the its Earnings or the Insurances, and, forthwith upon receiving notice of the arrest of the that Ship, or of its her detention in exercise or purported exercise of any lien or claim, the Borrower which is the owner of that Ship shall procure its her release by providing bail or otherwise as the circumstances may require.

Appears in 2 contracts

Samples: Loan Agreement (Capital Product Partners L.P.), Loan Agreement (Capital Product Partners L.P.)

Prevention of and release from arrest. The Borrower Borrowers shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the ShipShips, the their Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the ShipShips, the their Earnings or the Insurances; and (c) all other outgoings whatsoever in respect of the ShipShips, the their Earnings or the Insurances, ; and, forthwith upon receiving notice of the arrest of the a Ship, or of its detention in exercise or purported exercise of any lien or claim, the Borrower Borrowers shall procure its release by providing bail or otherwise as the circumstances may requirerequire as soon as practicable and in any event within 14 days.

Appears in 1 contract

Samples: Loan Agreement (TBS International LTD)

Prevention of and release from arrest. The Borrower shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship, the its Earnings or the its Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship, the its Earnings or the its Insurances; and (c) all other outgoings whatsoever in respect of the Ship, the its Earnings or the its Insurances, and, forthwith upon receiving notice of the arrest of the Ship, or of its her detention in exercise or purported exercise of any lien or claim, the Borrower shall procure its her release by providing bail or otherwise as the circumstances may require.

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Containers Inc.)

Prevention of and release from arrest. The Borrower shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship, the her Earnings or the her Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship, the her Earnings or the her Insurances; and (c) all other outgoings whatsoever in respect of the Ship, the her Earnings or the her Insurances, and, forthwith upon receiving notice of the arrest of the Ship, or of its detention in exercise or purported exercise of any lien or claim, the Borrower shall procure its release by providing bail or otherwise as the circumstances may require.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

Prevention of and release from arrest. The Borrower shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship, the Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship, the Earnings or the Insurances; and (c) all other outgoings whatsoever in respect of the Ship, the Earnings or the Insurances, Insurances and, forthwith upon receiving notice of the arrest of the Ship, or of its her detention in exercise or purported exercise of any lien or claim, the Borrower shall procure its her release by providing bail or otherwise as the circumstances may require.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

Prevention of and release from arrest. The Borrower shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship, the Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship, the Earnings or the Insurances; and (c) all other outgoings accounts payable whatsoever in respect of the Ship, the Earnings or the Insurances, and, forthwith upon receiving notice of the arrest of the Ship, or of its detention in exercise or purported exercise of any lien or claim, the Borrower shall procure its release by providing bail or otherwise as the circumstances may require.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

Prevention of and release from arrest. The Each Borrower shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the its Ship, the Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the its Ship, the Earnings or the Insurances; and (c) all other outgoings whatsoever in respect of the its Ship, the Earnings or the Insurances, and, forthwith upon receiving notice of the arrest of the its Ship, or of its detention in exercise or purported exercise of any lien or claim, the that Borrower shall procure its release by providing bail or otherwise as the circumstances may require.

Appears in 1 contract

Samples: Loan Agreement (Pyxis Tankers Inc.)

AutoNDA by SimpleDocs

Prevention of and release from arrest. The Each Borrower shall as promptly as possible discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the ShipShip owned by it, the Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the that Ship, the Earnings or the Insurances; and (c) all other outgoings whatsoever in respect of the that Ship, the Earnings or the Insurances, and, forthwith upon receiving notice of the arrest of the that Ship, or of its detention in exercise or purported exercise of any lien or claim, the that Borrower shall procure its release by providing bail or otherwise as the circumstances may require.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Prevention of and release from arrest. The Each Borrower shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the its Ship, the its Earnings or the its Insurances; (b) all taxes, dues and other amounts charged in respect of the its Ship, the its Earnings or the its Insurances; and (c) all other outgoings whatsoever in respect of the its Ship, the Earnings or the Insurances, ; and, forthwith upon receiving notice of the arrest of the a Ship, or of its detention in exercise or purported exercise of any lien or claim, the Borrower Borrowers shall procure its release by providing bail or otherwise as the circumstances may require.

Appears in 1 contract

Samples: Supplemental Agreement (Navios Maritime Containers Inc.)

Prevention of and release from arrest. The Borrower shall as promptly as possible discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship, the Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship, the Earnings or the Insurances; and (c) all other outgoings whatsoever in respect of the Ship, the Earnings or the Insurances, and, forthwith upon receiving notice of the arrest of the Ship, or of its detention in exercise or purported exercise of any lien or claim, the Borrower shall procure its release by providing bail or otherwise as the circumstances may require.

Appears in 1 contract

Samples: Loan Agreement (Box Ships Inc.)

Prevention of and release from arrest. The Each Borrower shall shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the its Ship, the its Earnings or the its Insurances; (b) all taxes, dues and other amounts charged in respect of the its Ship, the its Earnings or the its Insurances; and (c) all other outgoings whatsoever in respect of the its Ship, the Earnings or the Insurances, ; and, forthwith upon receiving notice of the arrest of the a Ship, or of its detention in exercise or purported exercise of any lien or claim, the Borrower Borrowers shall procure its release by providing bail or otherwise as the circumstances may require.

Appears in 1 contract

Samples: Term Loan Facility Agreement (Navios Maritime Partners L.P.)

Prevention of and release from arrest. The Borrower shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship, the Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship, the Earnings or the Insurances; and (c) all other outgoings whatsoever in respect of the Ship, the Earnings or the Insurances, and, forthwith upon receiving notice of the arrest of the Ship, or of its detention in exercise or purported exercise of any lien or claim, the Borrower shall procure its release by providing bail or otherwise as the circumstances may requirerequire as soon as possible and no later than 5 Business Days following such occurrence.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Prevention of and release from arrest. The Each Borrower shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the ShipShip owned by it, the Earnings or the Insurancesinsurances; (b) all taxes, dues and other amounts charged in respect of the that Ship, the Earnings or the Insurances; and (c) all other outgoings whatsoever in respect of the that Ship, the Earnings or the Insurancesinsurances, and, forthwith upon receiving notice of the arrest of the that Ship, or of its detention in exercise or purported exercise of any lien or claim, the that Borrower shall procure its release by providing bail or otherwise as the circumstances may require.

Appears in 1 contract

Samples: Loan Agreement (Star Bulk Carriers Corp.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!