Common use of Removal and installation of parts Clause in Contracts

Removal and installation of parts. (a) Subject to paragraph (b) below, no Borrower shall remove any material part of any Ship, or any item of equipment installed on any Ship unless: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security in favour of any person other than the Security Agent; and (iii) the replacement part or item becomes, on installation on that Ship, the property of that Borrower and subject to the security constituted by the Mortgage on that Ship and, if applicable, the related Deed of Covenant. (b) A Borrower may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that Borrower.

Removal and installation of parts. (a) Subject to paragraph (b) below, no Borrower shall remove any material part of any Ship, or any item of equipment installed on any Ship unless: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security in favour of any person other than the Security Agent; and (iii) the replacement part or item becomes, on installation on that Ship, the property of that Borrower and subject to the security constituted by the Mortgage on that Ship and, if applicable, the related Deed of CovenantShip. (b) A Borrower may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that Borrower.

Removal and installation of parts. (a) Subject to paragraph (b) below, no Borrower Owner shall remove any material part of any Ship, or any item of equipment installed on any Ship unless: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security in favour of any person other than the Security Agent; and (iii) the replacement part or item becomes, on installation on that Ship, the property of that Borrower Owner and subject to the security constituted by the Mortgage on that Ship and, if applicable, the related Deed of CovenantShip. (b) A Borrower An Owner may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that BorrowerOwner.

Removal and installation of parts. (a) Subject to paragraph (b) below, no Borrower shall remove any material part of any Ship, or any item of equipment installed on any Ship Ship, which would materially reduce its value, unless: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security in favour of any person other than the Security Agent; and (iii) the replacement part or item becomes, on installation on that Ship, the property of that Borrower and subject to the security constituted by the Mortgage on that Ship and, if applicable, the related Deed of CovenantShip. (b) A Borrower may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that Borrower.

Removal and installation of parts. (a) Subject to paragraph (b) below, no the Borrower shall not remove any material part of any the Ship, or any item of equipment installed on any the Ship unless: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security in favour of any person other than the Security Agent; and (iii) the replacement part or item becomes, on installation on that the Ship, the property of that the Borrower and subject to the security constituted by the Mortgage on that Ship and, if applicable, the related Deed of CovenantMortgage. (b) A The Borrower may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that BorrowerShip.

Removal and installation of parts. (a) Subject to paragraph (b) below, no Borrower the Borrowers shall not remove any material part of any the Ship, or any item of equipment installed on any a Ship unless: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security in favour of any person other than the Security Agent; and (iii) the replacement part or item becomes, on installation on that the Ship, the property of that the Owning Borrower and subject to the security constituted by the Mortgage on that Ship and, if applicable, the related Deed in respect of Covenantsuch Ship. (b) A Borrower The Borrowers may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that Borrowerconcerned.

Removal and installation of parts. (a) Subject to paragraph (b) below, no Borrower Debtor shall remove any material part of any Collateral Ship, or any item of equipment installed on any Collateral Ship unless: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security lien in favour favor of any person other than the Security Agent; and (iii) the replacement part or item becomes, on installation on that Collateral Ship, the property of that Borrower Debtor and subject to the security constituted by the Collateral Ship Mortgage on that Collateral Ship and, if applicable, and the related Deed of Covenant. (b) A Borrower Debtor may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Collateral Ship owned by that BorrowerDebtor.

Removal and installation of parts. (a) Subject to paragraph (b) below, no Borrower shall remove any material part of any Ship, or any item of equipment installed on any Ship unless: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security in favour of any person other than the Security AgentLender; and (iii) the replacement part or item becomes, on installation on that Ship, the property of that Borrower and subject to the security constituted by the Mortgage on that Ship and, if applicable, the related Deed of CovenantShip. (b) A Borrower may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that Borrower.

Removal and installation of parts. (a) Subject to paragraph (b) below, no the Borrower shall not remove any material part of any Shipthe Vessel, or any item of equipment installed on any Ship the Vessel unless: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security in favour of any person other than the Security Agent; and (iii) the replacement part or item becomes, on installation on that Shipthe Vessel, the property of that the Borrower and subject to the security constituted by the Mortgage on that Ship and, if applicableMortgage, the related Deed of CovenantCovenant and/or the New Zealand Security Deed. (b) A The Borrower may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that BorrowerVessel.

Removal and installation of parts. (a) Subject to paragraph (b) below, no Borrower shall remove any material part of any Ship, or any item of equipment installed on any Ship unless: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security in favour of any person other than the Security Agent; and (iii) the replacement part or item becomes, on installation on that Ship, the property of the relevant Borrower owning that Borrower Ship and subject to the security constituted by the Mortgage on that Ship and, if applicable, the related Deed of CovenantMortgage. (b) A Borrower may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that Borrower.

Removal and installation of parts. (a) Subject to paragraph (b) below, no Borrower shall remove any material part of any Ship, or any item of equipment installed on any Ship unless: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security in favour of any person other than the Security Agent; and (iii) the replacement part or item becomes, on installation on that Ship, the property of that Borrower and subject to the security constituted by the Mortgage on that Ship and, if applicable, the related Deed of Covenant. (b) A Each Borrower may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that Borrower.

Removal and installation of parts. (a) Subject to paragraph (b) below, no Borrower shall remove any material part of any Ship, or any item of equipment installed on any Ship unlessunless the part or item so removed: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security in favour of any person other than the Security Agent; and (iii) the replacement part or item becomes, on installation on that Ship, the property of that Borrower Xxxxxxxx and subject to the security constituted by the Mortgage on that Ship and, if applicable, the related Deed of CovenantShip. (b) A Borrower may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that Borrower.

Removal and installation of parts. (a) Subject to paragraph (b) below, no Borrower shall remove any material part of any Shipthe Vessel owned by it, or any item of equipment installed on any Ship that Vessel unless: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security in favour of any person other than the Security Agent; and (iii) the replacement part or item becomes, on installation on that ShipVessel, the property of that Borrower and subject to the security constituted by the First Mortgage on that Ship and, if applicable, the related Vessel and any relevant First Deed of Covenant. (b) A Borrower may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that Borrower.

Removal and installation of parts. (a) Subject to paragraph (b) below, no neither Borrower shall remove any material part of any Ship, or any item of equipment installed on any Ship unless: (i) the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed; (ii) the replacement part or item is free from any Security in favour of any person other than the Security AgentLender; and (iii) the replacement part or item becomes, on installation on that Ship, the property of that Borrower and subject to the security constituted by the Mortgage on that Ship and, if applicable, the related Deed of CovenantShip. (b) A Borrower may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by that Borrower.