Common use of Protective action Clause in Contracts

Protective action. The Mortgagee shall, without prejudice to its other rights, powers and remedies under any of the Security Documents, be entitled (but not bound) at any time, and as often as may be necessary, to take any such action as it may in its discretion think fit for the purpose of protecting or maintaining the security created by this Deed and the other Security Documents, and all Expenses attributable thereto shall be payable by the Owner on demand.

Appears in 10 contracts

Samples: Supplemental Agreement (Diana Shipping Inc.), Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)

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Protective action. The Mortgagee (as security agent and trustee on behalf of the Secured Creditors) shall, without prejudice to its other rights, powers and remedies under any of the Security Documents, be entitled (but not bound) at any time, and as often as may be necessary, to take any such action as it may in its discretion think fit for the purpose of protecting or maintaining the security created by this Deed and the other Security Documents, and all Expenses attributable thereto shall be payable by the Owner on demand.

Appears in 6 contracts

Samples: Quadripartite Deed (Top Tankers Inc.), Quadripartite Deed (Top Tankers Inc.), Quadripartite Deed (Top Tankers Inc.)

Protective action. The Mortgagee (as security agent and trustee on behalf of the Creditors) shall, without prejudice to its other rights, powers and remedies under any of the Security Documents, be entitled (but not bound) at any time, and as often as may be necessary, to take any such action as it may in its discretion think fit for the purpose of protecting or maintaining the security created by this Deed and the other Security Documents, and all Expenses attributable thereto shall be payable by the Owner on demand.

Appears in 4 contracts

Samples: Quadripartite Deed (Top Tankers Inc.), Quadripartite Deed (Top Tankers Inc.), Quadripartite Deed (Top Tankers Inc.)

Protective action. The Mortgagee shall, without prejudice to its other rights, powers and remedies under any of the Security Documentsremedies, be entitled (but not bound) at any time, and as often as may be necessary, to take any such action as it may in its discretion think fit for the purpose of protecting or maintaining the security created by this Deed and the other Security Documents, Mortgage and all Expenses attributable thereto shall be payable by the Owner on demand.

Appears in 1 contract

Samples: Facility Agreement (Globus Maritime LTD)

Protective action. The Mortgagee shall, without prejudice to its other rights, powers and remedies under any of the Security Documents, be entitled (but not bound) at any time, and as often as may be necessary, to take any such action as it may the Mortgagee in its discretion may think fit for the purpose of protecting or maintaining the security created by this Deed and the other Security Documents, and all Expenses attributable thereto shall be payable by the Owner on demand.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

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Protective action. The Mortgagee (as security agent and trustee on behalf of the Secured Creditors) shall, without prejudice to its other rights, powers and remedies under any of the Security Documents, be entitled (but not bound) at any time, and as often as may be necessary, 'to take any such action as it may in its discretion think fit for the purpose of protecting or maintaining the security created by this Deed and the other Security Documents, and all Expenses attributable thereto shall be payable by the Owner on demand.

Appears in 1 contract

Samples: Quadripartite Deed (Top Tankers Inc.)

Protective action. The Mortgagee shall, without prejudice to its other rights, powers and remedies under any of the Security Documents, be entitled (but not bound) at any time, and as often as may be necessary, to take any such action as it the Mortgagee may in its discretion think fit for the purpose of protecting or maintaining the security created by this Deed and the other Security Documents, and all Expenses attributable thereto shall be payable by the Owner on demand.

Appears in 1 contract

Samples: Second Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

Protective action. The Mortgagee shall, without prejudice to its other rights, powers and remedies under any of the Security Finance Documents, be entitled (but not bound) at any time, and as often as may be necessary, to take any such action as it may in its discretion think fit for the purpose of protecting or maintaining the security created by this Deed and the other Security Finance Documents, and all Expenses attributable thereto shall be payable by the Owner on demand.

Appears in 1 contract

Samples: On Delivery Buyer Credit Facility Agreement (DryShips Inc.)

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