Remedy of defaults. Without prejudice to the generality of the provisions of clause 9.1:
9.2.1 if the Charterer fails to comply with any of the provisions of clause 8.
1.1 the Mortgagee shall be entitled (but not bound) to effect and thereafter to maintain all such insurances upon the Ship as in its discretion it may think fit in order to procure the compliance with such provisions or alternatively, to require the Ship (at the Charterer's risk) to remain in, or to proceed to and remain in a port designated by the Mortgagee until such provisions are fully complied with;
9.2.2 if the Charterer fails to comply with any of the provisions of clauses 8.1.3, 8.1.5 or 8.1.6, the Mortgagee shall be entitled (but not bound) to arrange for the carrying out of such repairs, changes or surveys as it may deem expedient or necessary in order to procure the compliance with such provisions; and
9.2.3 if the Charterer fails to comply with any of the provisions of clause 8.1.8, the Mortgagee shall be entitled (but not bound) to pay and discharge all such debts, damages, liabilities and outgoings as are therein mentioned and/or to take any such measures as it may deem expedient or necessary for the purpose of securing the release of the Ship in order to procure the compliance with such provisions, and the Expenses attributable to the exercise by the Mortgagee of any such powers shall be payable by the Owner to the Mortgagee on demand.
Remedy of defaults. Without prejudice to the generality of the provisions of clause 4.1, if the Owner fails to comply with the provisions of clause 6.1.1
(a) of the Deed of Covenant, the Mortgagee shall become forthwith entitled (but not bound) to effect and thereafter to maintain all such insurances upon the Ship as in its discretion it may think fit in order to procure the compliance with such provisions or alternatively, to require the Ship (at the Owner’s risk) to remain in, or to proceed to and remain in, a port designated by the Mortgagee until such provisions are fully complied with and the Expenses attributable to the exercise by the Mortgagee of any such powers shall be payable by the Owner on demand.
Remedy of defaults. Without prejudice to the generality of the provisions of clause 7.1:
7.2.1 if the Owner fails to comply with any of the provisions of clause 6.
1.1 the Mortgagee shall be entitled (but not bound) to effect and thereafter to maintain all such insurances upon the Ship as in its discretion it may think fit in order to procure the compliance with such provisions or alternatively, to require the Ship (at the Owner’s risk) to remain in, or to proceed to and remain in a port designated by the Mortgagee until such provisions are fully complied with;
7.2.2 if the Owner fails to comply with any of the provisions of clauses 6.1.3, 6.1.5 or 6.1.6, the Mortgagee shall be entitled (but not bound) to arrange for the carrying out of such repairs, changes or surveys as it may deem expedient or necessary in order to procure the compliance with such provisions; and
7.2.3 if the Owner fails to comply with any of the provisions of clause 6.
Remedy of defaults. Without prejudice to the generality of the provisions of clause 4.1, if the Owner fails to comply with the provisions of clause 5 of the Deed of Covenants, the Collateral Agent shall become forthwith entitled (but not bound) to effect and thereafter to maintain all such insurances upon the Ship as in its discretion it may think fit in order to procure the compliance with such provisions or alternatively, to require the Ship (at the Owner’s risk) to remain in, or to proceed to and remain in, a port designated by the Collateral Agent until such provisions are fully complied with and the Expenses attributable to the exercise by the Collateral Agent of any such powers shall be payable by the Owner on demand.
Remedy of defaults. Without prejudice to the generality of the provisions of clause 9.1:
9.2.1 if the Charterer fails to comply with any of the provisions of clause 8.
1.1 the Mortgagee shall be entitled (but not bound) to effect and thereafter to maintain all such insurances upon the Ship as in its discretion it may think fit in order to procure the compliance with such provisions or alternatively, to require the Ship (at the Charterer's risk) to remain in, or to proceed to and remain in a port designated by the Mortgagee until such provisions are fully complied with;
9.2.2 if the Charterer fails to comply with any of the provisions of clauses 8.1.3, 8.1.5 or 8.1.6, the Mortgagee shall be entitled (but not bound) to arrange for the carrying out of such repairs, changes or surveys as it may deem expedient or necessary in order to procure the compliance with such provisions; and
9.2.3 if the Charterer fails to comply with any of the provisions of clause 8.
Remedy of defaults. Without prejudice to the provisions of clause 5.1 or the generality of the powers and remedies vested in the Security Agent by virtue of the assignment herein contained, upon the happening of any Event of Default (whether or not the Agent shall have given any notice in accordance with the provisions of clause 10.2 of the Loan Agreement) the Security Agent shall become forthwith entitled, as and when it may see fit, to exercise in relation to the Assigned Property or any part thereof all or any of the rights, powers and remedies possessed by it as assignee of the Assigned Property (whether at law, by virtue of this Deed or otherwise) and in particular (without limiting the generality of the foregoing):
Remedy of defaults. Without prejudice to the provisions of clause 5.1 or the generality of the powers and remedies vested in the Bank by virtue of the assignment herein contained, upon the happening of any Event of Default (whether or not the Bank shall have given any notice in accordance with the provisions of clause 10.2 of the Agreement), the Bank shall become forthwith entitled, as and when it may see fit, to exercise in relation to the Assigned Property or any part thereof all or any of the rights, powers and remedies possessed by it as assignee of the Assigned Property (whether at law, by virtue of this Deed or otherwise) and in particular (without limiting the generality of the foregoing):
5.2.1 to implement the Contract and take delivery and possession of the Ship as the Bank may see fit;
5.2.2 to agree with the Builders to determine the Contract on such terms and conditions as the Bank and the Builders may mutually agree;
5.2.3 to assign all the Assigned Property or to sell the Ship on or after its delivery under the Contract or otherwise and upon such terms (including free of or subject to any charter) as the Bank shall in its absolute discretion determine and with power, where the Bank purchases the Ship and/or takes an assignment of the Assigned Property, to make payment of the price by making an equivalent reduction in the amount of the Outstanding Indebtedness in the manner referred to in clause 6.1;
5.2.4 to undertake the further supervision of the construction of the Ship;
5.2.5 to collect, recover, compromise and give a good discharge for all claims then outstanding or thereafter arising in respect of the Assigned Property or any part thereof and moneys payable to the Buyer or any damages recoverable by the Buyer under the Assigned Documents in connection therewith and to take over or institute (if necessary using the name of the Buyer) all such proceedings in connection therewith as the Bank in its absolute discretion thinks fit;
5.2.6 to implement any Refund Guarantee and to agree with the Refund Guarantor any compromise of the obligations of the Refund Guarantor or grant any release or discharge of the Refund Guarantor;
5.2.7 following delivery of the Ship to manage, insure, maintain and repair the Ship and to employ, sail or lay up the Ship in such manner and for such period as the Bank, in its absolute discretion, deems expedient, accounting only for net profits arising from any such employment; and
Remedy of defaults. Without prejudice to the generality of the provisions of clause 4.1, if the Owner fails to comply with the provisions of clause 5.1.1 of the Mortgage, the Mortgagee shall (subject to the First General Assignment) become forthwith entitled (but not bound) to effect and thereafter to maintain all such insurances upon the Ship as in its discretion it may think fit in order to procure the compliance with such provisions or alternatively, to require the Ship (at the Owner's risk) to remain in, or to proceed to and remain in, a port designated by the Mortgagee until such provisions are fully complied with and the Expenses attributable to the exercise by the Mortgagee of any such powers shall be payable by the Owner on demand.
Remedy of defaults. Without prejudice to the generality of the provisions of clause 10.1:
10.2.1 if the Owner fails to comply with any of the provisions of clause 9.
1.1 the Security Agent shall be entitled (but not bound) to effect and thereafter to maintain all such insurances upon the Ship as the Security Agent may in its discretion think fit in order to procure the compliance with such provisions or alternatively, to require the Ship (at the Owner’s or, during the Charter Period, the Charterer’s risk) to remain in, or to proceed to and remain in a port designated by the Security Agent until such provisions are fully complied with;
10.2.2 if the Owner or the Charterer fails to comply with any of the provisions of clauses 9.1.2, 9.1.4 or 9.1.5, the Security Agent shall be entitled (but not bound) to arrange for the carrying out of such repairs, changes or surveys as the Security Agent may deem expedient or necessary in order to procure the compliance with such provisions; and
10.2.3 if the Owner or the Charterer fails to comply with any of the provisions of clause 9.
Remedy of defaults. Without prejudice to the generality of the foregoing provisions of clause 7.1:
7.2.1 if the Owner fails to comply with any of the provisions of clause 6.
1.1 the Mortgagees shall be entitled (but not bound) to effect and thereafter to maintain all such insurances upon the Ship as the Agent (acting on the instructions of the Majority Banks) may in its discretion think fit in order to procure the compliance with such provisions or alternatively, to require the Ship (at the Owner's risk) to remain in, or to proceed to and remain in a port designated by the Agent (acting on the instructions of the Majority Banks) until such provisions are fully complied with;
7.2.2 if the Owner fails to comply with any of the provisions of clauses 6.1.3, 6.1.5 or 6.1.6, the Mortgagees shall be entitled (but not bound) to arrange for the carrying out of such repairs, changes or surveys as the Agent (acting on the instructions of the Majority Banks) may deem expedient or necessary in order to procure the compliance with such provisions; and
7.2.3 if the Owner fails to comply with any of the provisions of clause 6.
