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

Prevention of and release from arrest. Each Borrower shall promptly discharge (or, in the case of paragraph (a) below, shall provide evidence satisfactory to the Agent that such liabilities are being contested by that Borrower in good faith by appropriate steps and in respect of which appropriate reserves have been made): (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 outgoings whatsoever in respect of the Ship owned by it, the Earnings or the Insurances, and, within 25 days (or such longer period as may be requested by the Borrowers and approved by the Agent acting with the authorisation of the Majority Lenders) from receiving notice of the arrest of the Ship owned by it, or of its detention in exercise or purported exercise of any such 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 procure that each Owner shall (or, in the case of paragraph the Ship owned by it), promptly discharge before the same becomes overdue (a) below, shall provide evidence satisfactory to the Agent that such liabilities are unless being contested by that Borrower in good faith by appropriate steps proceedings promptly instituted and in respect of which diligently pursued where appropriate reserves have been madeestablished): (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 in relation to that Ship; (b) all taxes, dues and other amounts charged in respect of the Ship owned by itShip, the Earnings or the InsurancesInsurances in relation to that Ship; and (c) all other outgoings whatsoever in respect of the Ship owned by itShip, the Earnings or the InsurancesInsurances in relation to that Ship, and, within 25 days (or such longer period as may be requested by the Borrowers and approved by the Agent acting with the authorisation of the Majority Lenders) from forthwith upon receiving notice of the arrest of the Ship owned by itShip, or of its detention in exercise or purported exercise of any such 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 Borrower shall promptly discharge (or, in the case of paragraph (a) below, shall provide evidence satisfactory to the Agent that such liabilities are being contested by that Borrower in good faith by appropriate steps and in respect of which appropriate reserves have been made): (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 outgoings whatsoever in respect of the Ship owned by it, the Earnings or the Insurances, and, within 25 days (or such longer period as may be requested by the Borrowers and approved by the Agent acting with the authorisation of the Majority Lenders) from forthwith upon receiving notice of the arrest of the Ship owned by it, or of its detention in exercise or purported exercise of any such lien or claim, that Borrower shall procure its release by providing bail or otherwise as the circumstances may require.