Common use of Registration of Vessels Clause in Contracts

Registration of Vessels. On the Closing Date, each Vessel owned by the Company or the Guarantors has been duly registered in the name of the Company or the relevant Guarantor (as applicable) under the laws and regulations and flag of the nation of its registration and no other action is necessary to establish and perfect such entity’s title to and interest in any of the vessels as against any charterer or third party; and all such vessels are owned directly by the Company or such Guarantor free and clear of all material liens, claims, security interests or other encumbrances, other than Permitted Liens.