PROTECTION OF OWNER’S RIGHTS Sample Clauses

PROTECTION OF OWNER’S RIGHTS. (a) The Hirer shall not re-hire, sell, mortgage, charge, pledge, part with possession of or otherwise deal with the Plant except as provided under clause 15 and shall protect the same against distress, execution or seizure and shall indemnify the Owner against all losses, damage, costs, charges and expenses arising as a direct result of any failure to observe and perform this condition except in the event of Government requisition. (b) The Owner may terminate the Contract forthwith by written notice to the Hirer if one or more of the following events occur: (i) The Hirer defaults in punctual payment of any sum due to the Owner for hire of Plant or other charges payable pursuant to these conditions; (ii) The Hirer fails to observe and perform the terms and conditions of the Contract; (iii) The Hirer suffers, or the Owner reasonably believes that the Hirer shall suffer, any distress or execution to be levied against him; (iv) The Hirer makes or proposes to make any arrangement with his creditors or becomes insolvent within the meaning of Section 113 of the Housing Grants, Construction and Regeneration Xxx 0000 or any amendment or re-enactment thereof for the time being in force; or (v) The Hirer does or causes to be done or permit or suffer any act or thing whereby the Owner’s rights in the Plant may be prejudiced or put into jeopardy. (c) In the event of termination under sub-paragraph (b) above: (i) The Hirer must give the Owner or his agents, immediate unobstructed access to recover the Plant. (ii) The Owner shall be entitled to claim the hire charges outstanding as at the date of termination of the hire under this clause and return transport charges under clause 31. (d) The rights under sub-paragraph (b) and (c) above: (i) May be exercised notwithstanding that the Owner may have waived some previous default or matter of the same or a like nature. (ii) Shall not affect the Owner’s right to claim damages for breach of Contract or recover any sums due under the Contract as a debt. (e) If the Hirer does not make payment of a sum by the final date on which payment is due to be made, the Owner has the right to suspend performance of its obligations under the Contract. The right to suspend may not be exercised without first giving to the Hirer at least 7 days notice in writing of the Owner’s intention to suspend performance, stating the ground or grounds on which the Owner intends to suspend performance. The right to suspend performance will cease when the Hire...

PROTECTION OF OWNER’S RIGHTS. The Hirer shall not re-hire, sell, mortgage, charge, pledge, part with possession of or otherwise deal with the Plant except as provided under clause 15 and shall protect the same against distress, execution or seizure and shall indemnify the Owner against all losses, damage, costs, charges, and expenses arising as a direct result of any failure to observe and perform this condition except in the event of Government requisition.

PROTECTION OF OWNER’S RIGHTS. It will take no action, nor omit to take any action, which could reasonably be expected to materially impair the rights of the Administrative Agent and the Owners in the Transferred Receivables and the Related Rights granted pursuant to this Agreement, or materially adversely affect the collectability of the Transferred Assets, or reschedule, revise or defer payments due on any Transferred Receivable, or amend, modify or waive in any material respect any term or condition relating to payments due on any Transferred Receivable, or modify the terms of any Transferred Receivable in a manner that would result in the dilution of such Transferred Receivable or that would otherwise prevent such Transferred Receivable from being an Eligible Receivable, except (i) in accordance with the Credit and Collection Policies (ii) as ordered by a court of competent jurisdiction or other Governmental Authority, (iii) such Transferred Receivable is deemed not to be an Eligible Receivable and such event does not result in an Asset Base Deficiency, (iv) with the prior consent of the Required Owners, (v) as otherwise stated herein, or (vi) pursuant to Requirements of Law.

PROTECTION OF OWNER’S RIGHTS. Xxxxx shall take no action, nor omit to take any action, which could reasonably be expected to materially impair the rights of the Owners in the Transferred Receivables or materially adversely affect the collectability of the Transferred Assets.

PROTECTION OF OWNER’S RIGHTS. If the Hirer fails to pay any sum due to the Owner for the hire of Plant or other charges or fails to observe and perform the terms and conditions of this Contract, or if the Hirer shall suffer any distress or execution to be levied against him or make or propose to make any arrangement with his creditors or becomes insolvent within the meaning of Section 113 of the Housing Grants, Construction and Regeneration Xxx 0000 or any amendment or re-enactment thereof for the time being in force; or shall do or cause to be done or permit or suffer any act or thing whereby the Owner’s rights in the Plant may be prejudiced, this Contract shall forthwith be determined by notice from the Owner to the Hirer. The Contract shall thereupon be determined and the Hirer agrees that the Owner may enter into or upon any premises where the Plant may be and the determination of the hiring under this condition shall not affect the right of the Owner to recover from the Hirer any monies due to the Owner under the Contract or any of the Owner’s rights and remedies. In particular, without limitation, the Owner shall be entitled to claim the hire charges outstanding as at the date of determination of the hire under this clause, return transport charges under clause 20, and damages for the Hirer’s breach of the Contract under this clause.

PROTECTION OF OWNER’S RIGHTS. Xxxxx shall take no action, nor omit to take any action, which could reasonably be expected to materially impair the rights of the Owners in the Transferred Receivables or materially adversely affect the collectability of the Transferred Assets, except with respect to (x) any COVID Deferring Receivable in accordance with the COVID Deferral Program or (y) any Force Majeure Assisted Receivable in accordance with the Force Majeure Assistance Program related thereto.

PROTECTION OF OWNER’S RIGHTS. The Hirer hereby further undertakes with the Owner that throughout the Hire Period it will: (a) Disposal of the Ship not attempt or hold itself out as having any power to sell, agree to sell other than following exercise of the option under Clause 31.1, transfer or otherwise dispose of or abandon the Ship, or any share or interest therein. The Hirer acknowledges that it has no right to sell the Ship; (b) Encumbrances not create or agree or purport to create any Encumbrance over the Ship, any share or interest therein or in the Sub-Earnings or in the Insurances or Requisition Compensation or any part thereof (other than for Permitted Encumbrances). The Hirer acknowledges that it has no right to mortgage the Ship; (c) Notification of arrest notify the Owner promptly by telex of any arrest or detention of the Ship or any exercise or purported exercise of a lien or other claim on the Ship or the Sub-Earnings or the Insurances or any part thereof; (d) Prevention of and release from arrest promptly pay and discharge all debts, damages, liabilities and outgoings whatsoever which have given or may give rise to maritime, statutory or possessory liens on, or claims enforceable against, the Ship, the Sub-Earnings or the Insurances or any part thereof and, in the event of a writ or libel being filed against the Ship or the Sub-Earnings or the Insurances or any part thereof, or of any of the same being arrested, attached or levied upon pursuant to legal process or purported legal process or in the event of detention of the Ship in exercise or purported exercise of any such lien or claim as aforesaid, procure the release of the Ship, the Sub-Earnings and the Insurances from such arrest, detention, attachment or levy or, as the case may be, the discharge of the writ or libel within five (5) Business Days of receiving notice thereof by providing bail or procuring the provision of security or otherwise as the circumstances may require; (e) No pledging of Owner's Credit not pledge the credit of the Owner for any maintenance, service, repairs, drydocking, or modifications to, or changes or alterations in, the Ship or for any other purpose whatsoever; (f) Protection of Owner's Rights in the Ship not do or permit to be done any act or thing which might jeopardise the title, rights and interest of the Owner in the Ship and/or omit or permit to be omitted to be done any act which might prevent that title and those rights and interest from being jeopardised; and (g) Notice of Own...

PROTECTION OF OWNER’S RIGHTS. 12.1 The Customer irrevocably appoints the Owner and every director, manager, branch manager, and secretary of the Owner severally as an agent of the Customer. 12.2 Any such agent may do anything in the name of the Customer which is necessary or desirable in the Owner’s opinion to: (a) ensure performance of the Customer’s obligations under this agreement; or (b) protect the Equipment for the value of the Owner’s interest in it. 12.3 The Owner reserves the right to enter onto the premises on which the Equipment is kept to inspect the Equipment at any time and to terminate this agreement if in the opinion of the Owner the Equipment is not being adequately used or maintained.

PROTECTION OF OWNER’S RIGHTS. 11.1 The Customer irrevocably appoints the Owner and every director, manager, branch manager, and secretary of the Owner severally as an agent of the Customer. 11.2 Any such agent may do anything in the name of the Customer which is necessary or desirable in the Owner’s opinion to: (a) ensure performance of the Customer’s obligations under this agreement; or (b) protect the Equipment for the value of the Owner’s interest in it.

PROTECTION OF OWNER’S RIGHTS a. Restrictions on Equipment Handling: The Hirer cannot re-hire, sell, or deal with the Equipment except as specified. Failure to comply may result in financial liability.