Prevention of and release from arrest. Each Guarantor 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 or its Insurances; (b) all taxes, dues and other amounts charged in respect of the Ship owned by it or its Insurances; and (c) all other outgoings whatsoever in respect of the Ship owned by it or its Insurances, and, forthwith 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 Guarantor shall procure its release by providing bail or otherwise as the circumstances may require.
Appears in 3 contracts
Samples: Subordinated Facility Agreement (Diana Shipping Inc.), Facility Agreement (Diana Containerships Inc.), Subordinated Facility Agreement (Diana Containerships Inc.)
Prevention of and release from arrest. Each The Borrower shall procure that each Guarantor 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 its Ship, its Earnings or its Insurances;
(b) all taxes, dues and other amounts charged in respect of the Ship owned by it its Ship, its Earnings or its Insurances; and
(c) all other outgoings whatsoever in respect of its Ship, the Ship owned by it Earnings or its the Insurances, ; and, forthwith upon receiving notice of the arrest of the Ship owned by ita Ship, or of its detention in exercise or purported exercise of any lien or claim, the Borrower shall procure that the relevant Guarantor shall procure its release by providing bail or otherwise as the circumstances may require.
Appears in 2 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Prevention of and release from arrest. Each The Borrower shall procure that each Corporate Guarantor 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 it, the Earnings or its the Insurances;
(b) all taxes, dues and other amounts charged in respect of that Ship, the Ship owned by it Earnings or its the Insurances; and
(c) all other outgoings whatsoever in respect of that Ship, the Ship owned by it Earnings or its the Insurances, and, forthwith upon receiving notice of the arrest of the Ship owned by itthat Ship, or of its detention in exercise or purported exercise of any lien or claim, that Corporate Guarantor shall procure its release by providing bail or otherwise as the circumstances may require.
Appears in 2 contracts
Samples: Loan Agreement (Castor Maritime Inc.), Loan Agreement (Toro Corp.)
Prevention of and release from arrest. Each Guarantor 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 it, its Earnings or its Insurances;
(b) all taxes, dues and other amounts charged in respect of the Ship owned by it it, its Earnings or its Insurances; and
(c) all other outgoings whatsoever in respect of the Ship owned by it it, its Earnings or its Insurances, and, forthwith 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 Guarantor shall procure its release by providing bail or otherwise as the circumstances may require.
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