Prevention of and release from arrest. The Borrower shall procure that each Owner shall promptly discharge: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship owned by it, her Earnings or her Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship, her Earnings or her Insurances; and (c) all other outgoings whatsoever in respect of the Ship, her Earnings or her Insurances and, forthwith upon receiving notice of the arrest of the Ship, or of her detention in exercise or purported exercise of any lien or claim, the relevant Owner shall within 7 days of the arrest or detention procure her release by providing bail or otherwise as the circumstances may require.
Appears in 4 contracts
Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)
Prevention of and release from arrest. The Borrower shall procure that each Owner shall promptly discharge:
(a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship owned by it, her Earnings or her Insurances;
(b) all taxes, dues and other amounts charged in respect of the Ship, her Earnings or her Insurances; and
(c) all other outgoings whatsoever in respect of the Ship, her Earnings or her Insurances and, forthwith upon receiving notice of the arrest of the Ship, or of her detention in exercise or purported exercise of any lien or claim, the relevant Owner shall within 7 days of the arrest or detention 10 Business Days procure her release by providing bail or otherwise as the circumstances may require.
Appears in 3 contracts
Samples: Loan Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)
Prevention of and release from arrest. The Borrower shall procure that each the Owner 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 owned by itShip, her the Earnings or her the Insurances;
(b) all taxes, dues and other amounts charged in respect of the Ship, her the Earnings or her the Insurances; and
(c) all other outgoings whatsoever in respect of the Ship, her the Earnings or her Insurances the Insurances, and, forthwith upon receiving notice of the arrest of the Ship, Ship or of her detention in exercise or purported exercise of any lien or claim, the relevant Owner shall within 7 days of the arrest or detention procure her release by providing bail or otherwise as the circumstances may require.
Appears in 3 contracts
Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Box Ships Inc.), Loan Agreement (Box Ships Inc.)
Prevention of and release from arrest. The Each Borrower shall procure that each Owner shall promptly discharge:
(a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship owned by it, her its Earnings or her its Insurances;
(b) all taxes, dues and other amounts charged in respect of the ShipShip owned by it, her its Earnings or her its Insurances; and
(c) all other outgoings whatsoever in respect of the ShipShip owned by it, her its Earnings or her Insurances its Insurances; and, forthwith upon receiving notice of the arrest of the that Ship, or of her its detention in exercise or purported exercise of any lien or claim, the relevant Owner that Borrower shall within 7 days of the arrest or detention procure her its release by providing bail or otherwise as the circumstances may requirerequire within 30 days of such arrest or detention.
Appears in 2 contracts
Samples: Facility Agreement (NewLead Holdings Ltd.), Facility Agreement (NewLead Holdings Ltd.)
Prevention of and release from arrest. The Borrower shall procure that each the Owner shall promptly discharge:
(a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship owned by itShip, her the Earnings or her the Insurances;
(b) all taxes, dues and other amounts charged in respect of the Ship, her the Earnings or her the Insurances; and
(c) all other outgoings whatsoever in respect of the Ship, her the Earnings or her Insurances the Insurances, and, forthwith upon receiving notice of the arrest of the ShipShip it, or of her detention in exercise or purported exercise of any lien or claim, the relevant Owner shall within 7 days of the arrest or detention procure her release by providing bail or otherwise as the circumstances may require.
Appears in 2 contracts
Samples: Loan Agreement, Loan Agreement (Capital Product Partners L.P.)
Prevention of and release from arrest. The Borrower shall procure that each the Owner shall promptly discharge:
(a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship owned by it, her Earnings or her Insurances;
(b) all taxes, dues and other amounts charged in respect of the Ship, her Earnings or her Insurances; and
(c) all other outgoings whatsoever in respect of the Ship, her Earnings or her Insurances and, forthwith upon receiving notice of the arrest of the Ship, or of her detention in exercise or purported exercise of any lien or claim, the relevant Owner shall within 7 days of the arrest or detention procure her release by providing bail or otherwise as the circumstances may require.
Appears in 2 contracts
Samples: Loan Agreement (Star Bulk Carriers Corp.), Loan Agreement (Star Cosmo Llc.)
Prevention of and release from arrest. The Borrower shall procure that each the Owner shall promptly discharge:
(a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship owned by itShip, her Earnings or her Insurances;
(b) all taxes, dues and other amounts charged in respect of the Ship, her Earnings or her Insurances; and
(c) all other outgoings whatsoever in respect of the Ship, her Earnings or her Insurances and, forthwith upon receiving notice of the arrest of the Ship, or of her detention in exercise or purported exercise of any lien or claim, the relevant Owner shall within 7 days of the arrest or detention forthwith procure her release by providing bail or otherwise as the circumstances may require.
Appears in 1 contract
Prevention of and release from arrest. The Borrower shall procure that each Owner shall promptly discharge:
(a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship owned by it, her Earnings or her Insurances;
(b) all taxes, dues and other amounts charged in respect of the that Ship, her Earnings or her Insurances; and
(c) all other outgoings whatsoever in respect of the that Ship, her Earnings or her Insurances and, forthwith upon receiving notice of the arrest of the that Ship, or of her detention in exercise or purported exercise of any lien or claim, the relevant Owner shall within 7 days of the arrest or detention procure her release by providing bail or otherwise as the circumstances may require.
Appears in 1 contract
Prevention of and release from arrest. The Borrower shall procure that each the Owner shall promptly discharge:
(a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship owned by itShip, her the Earnings or her the Insurances;
(b) all taxes, dues and other amounts charged in respect of the Ship, her the Earnings or her the Insurances; and
(c) all other outgoings whatsoever in respect of the Ship, her the Earnings or her Insurances the Insurances; and, forthwith upon receiving notice of the arrest of the Ship, or of her detention in exercise or purported exercise of any lien or claim, the relevant Owner shall within 7 days of the arrest or detention procure her release within 2 Business Days of receiving such notice by providing bail or otherwise as the circumstances may require.
Appears in 1 contract