Common use of Provisions as to Security, Maritime Lien and Right to Arrest Clause in Contracts

Provisions as to Security, Maritime Lien and Right to Arrest. 4.1 The Contractors shall immediately after the termination of the services or sooner notify the Council and where practicable the Owners of the amount for which they demand salvage security (inclusive of costs expenses and interest) from each of the respective Owners. 4.2 Where a claim is made or may be made for special compensation the owners of the vessel shall on the demand of the Contractors whenever made provide security for the claim for special compensation provided always that such demand is made within 2 years of the date of termination of the services. 4.3 The security referred to in clauses 4.1. and 4.2. above shall be demanded and provided in the currency specified in Box 4 or in United States Dollars if no such alternative currency has been agreed. 4.4 The amount of any such security shall be reasonable in the light of the knowledge available to the Contractors at the time when the demand is made and any further facts which come to the attention before security is provided. The arbitrator appointed under clause 5 hereof may, at any stage of the proceedings, order that the amount of security be reduced or increased as the case may be. 4.5 Unless otherwise agreed such security shall be provided (i) to the Council (ii) in a form approved by the Council and

Provisions as to Security, Maritime Lien and Right to Arrest. 4.1 The Contractors shall immediately after the termination of the services or sooner notify the Council and where practicable the Owners of the amount for which they demand salvage security (inclusive of costs expenses and interest) from each of the respective Owners. 4.2 Where a claim is made or may be made for special compensation the owners of the vessel shall on the demand of the Contractors whenever made provide security for the Contractors’ claim for special compensation provided always that such demand is made within 2 years of the date of termination of the services. 4.3 The security referred to in clauses 4.1. and 4.2. above shall be demanded bedemanded and provided in the inthe currency specified in Box 4 or in United States Dollars if no such alternative currency has been agreed. 4.4 The amount of any such security shall be reasonable in the light of the knowledge available to the Contractors at the time when the demand is made and any further facts which come to the Contractors’ attention before security is provided. The arbitrator appointed under clause 5 hereof may, at any stage of the proceedings, order that the amount of security be reduced or increased as the case may be. 4.5 Unless otherwise agreed such security shall be provided (i) to the Council (ii) in a form approved by the Council and

Provisions as to Security, Maritime Lien and Right to Arrest. 4.1 The Contractors shall immediately after the termination of the services or sooner notify the Council and where practicable the Owners of the amount for which they demand salvage security (inclusive of costs expenses and interest) from each of the respective Owners. 4.2 Where a claim is made or may be made for special compensation the owners of the vessel shall on the demand of the Contractors whenever made provide security for the Contractors’ claim for special compensation provided always that such demand is made within 2 years of the date of termination of the services. 4.3 The security referred to in clauses 4.1. and 4.2. above shall be demanded and provided in the currency specified in Box 4 or in United States Dollars if no such alternative currency has been agreed. 4.4 The amount of any such security shall be reasonable in the light of the knowledge available to the Contractors at the time when the demand is made and any further facts which come to the Contractors’ attention before security is provided. The arbitrator appointed under clause 5 hereof may, at any stage of the proceedings, order that the amount of security be reduced or increased as the case may be. 4.5 Unless otherwise agreed such security shall be provided (i) to the Council (ii) in a form approved by the Council and

Provisions as to Security, Maritime Lien and Right to Arrest. 4.1 The Contractors shall immediately after the termination of the services or sooner notify the Council and where practicable the Owners of the amount for which they demand salvage security (inclusive of costs expenses and interest) from each of the respective Owners. 4.2 Where a claim is made or may be made for special compensation the owners of the vessel shall on the demand of the Contractors whenever made provide security for the Contractors’ claim for special compensation provided always that such demand is made within 2 years of the date of termination of the services. 4.3 The security referred to in clauses 4.1. and 4.2. above shall be demanded bedemanded and provided in the currency specified in Box 4 or in United States Dollars if no such alternative currency has been agreed. 4.4 The amount of any such security shall be reasonable in the light of the knowledge available to the Contractors at the time when the demand is made and any further facts which come to the Contractors’ attention before security is provided. The arbitrator appointed under clause 5 hereof may, at any stage of the proceedings, order that the amount of security be reduced or increased as the case may be. 4.5 Unless otherwise agreed such security shall be provided (i) to the Council (ii) in a form approved by the Council and