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

Prevention of and release from arrest. Each Borrower shall promptly discharge or contest in good faith with appropriate proceedings: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship owned by it, the Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship owned by it, the Earnings or the Insurances; and (c) all other accounts payable whatsoever in respect of the Ship owned by it, the Earnings or the Insurances, and, forthwith (and in no event more than 30 days) upon receiving notice of the arrest of the Ship owned by it, or of its detention in exercise or purported exercise of any lien or claim, that Borrower shall procure its release by providing bail or otherwise as the circumstances may require.

Prevention of and release from arrest. Each Borrower shall promptly discharge or contest in good faith with appropriate proceedings: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship owned by it, the Earnings or the InsurancesInsurances other than Permitted Security Interests; (b) all taxes, dues and other amounts charged in respect of the Ship owned by it, the Earnings or the Insurances; and (c) all other accounts payable whatsoever in respect of the Ship owned by it, the Earnings or the Insurances, and, forthwith (and in no event more than 30 days) upon receiving notice of the arrest of the Ship owned by it, or of its detention in exercise or purported exercise of any lien or claim, that Borrower shall procure its release by providing bail or otherwise as the circumstances may require.

Prevention of and release from arrest. Each Borrower shall promptly discharge or contest in good faith with appropriate proceedings: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship owned by it, the Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship owned by it, the Earnings or the Insurances; and (c) all other accounts payable whatsoever in respect of the Ship owned by it, the Earnings or the Insurances, and, forthwith (and in no event more than 30 14 days) upon receiving notice of the arrest of the Ship owned by it, or of its detention in exercise or purported exercise of any lien or claim, that Borrower shall procure its release by providing bail or otherwise as the circumstances may require.

Prevention of and release from arrest. Each The Borrower shall promptly discharge or contest in good faith with appropriate proceedings: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship owned by itShip, the Earnings or the Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship owned by itShip, the Earnings or the Insurances; and (c) all other accounts payable whatsoever in respect of the Ship owned by itShip, the Earnings or the Insurances, and, forthwith (and in no event more than 30 days) upon receiving notice of the arrest of the Ship owned by itShip, or of its detention in exercise or purported exercise of any lien or claim, that the Borrower shall procure its release by providing bail or otherwise as the circumstances may require.

Prevention of and release from arrest. Each The Borrower shall promptly discharge or contest in good faith with appropriate proceedings: (a) all liabilities which give or may give rise to maritime or possessory liens on or claims enforceable against the Ship owned by itShip, the Earnings or the InsurancesInsurances other than Permitted Security Interests; (b) all taxes, dues and other amounts charged in respect of the Ship owned by itShip, the Earnings or the Insurances; and (c) all other accounts payable whatsoever in respect of the Ship owned by itShip, the Earnings or the Insurances, and, forthwith (and in no event more than 30 days) upon receiving notice of the arrest of the Ship owned by itShip, or of its detention in exercise or purported exercise of any lien or claim, that the Borrower shall procure its release by providing bail or otherwise as the circumstances may require.