Common use of Removal of parts Clause in Contracts

Removal of parts. Except with approval, no material part of the Ship or any equipment shall be removed from the Ship if to do so would materially reduce its value (unless at the same time it is replaced with equivalent parts or equipment owned by the relevant Owner free of any Security Interest except under the Security Documents).

Removal of parts. Except with approvalapproval of the Majority Lenders, no material part of the Ship or any equipment shall be removed from the Ship if to do so would materially reduce its value (unless at the same time it is replaced with equivalent parts or equipment owned by the relevant Owner Borrower free of any Security Interest except under the Security Documents).

Removal of parts. Except with approvalapproval by the Majority Lenders, no material part of the Ship or any equipment shall be removed from the Ship if to do so would materially reduce its value (unless at the same time it is replaced with equivalent parts or equipment owned by the relevant Owner free of any Security Interest except under the Security Documents).

Removal of parts. Except with approvalapproval (which shall not be unreasonably withheld or delayed), no material part of the a Ship or any equipment shall be removed from the that Ship if to do so would materially reduce its value (unless at the same time it is replaced with equivalent parts or equipment owned by the relevant Owner free of any Security Interest except under the Security Documents).

Removal of parts. Except with approvalapproval of the Required Lenders, no material part of the a Ship or any equipment shall be removed from the a Ship if to do so would materially reduce its value result in a Material Adverse Change (unless at the same time it is replaced with equivalent parts or equipment owned by the relevant Owner Upstream Guarantor free of any Security Interest except under the Security Documents), provided, however, equipment fitted to a Ship by such Ship’s Acceptable Charterer which is not owned by the relevant Upstream Guarantor may be removed.

Removal of parts. Except with approvalapproval of the Required Lenders, no material part of the a Ship or any equipment shall be removed from the a Ship if to do so would materially reduce its value result in a Material Adverse Change (unless at the same time it is replaced with equivalent parts or equipment owned by the relevant Owner Upstream Guarantor free of any Security Interest except under the Security Documents), provided, however, equipment fitted to a Ship by such Ship's Acceptable Charterer which is not owned by the relevant Upstream Guarantor may be removed.

Removal of parts. Except with approval, no material part of the Ship or any equipment shall be removed from the Ship if to do so would materially reduce its value (unless at the same time it is replaced with equivalent parts or equipment owned by the relevant Owner Borrower free of any Security Interest except under the Security Documents).

Removal of parts. Except with approval, no material part of the Ship or any equipment Vessel shall be removed from the Ship Vessel if to do so would materially reduce its value (unless for repair or if at the same time it is replaced with equivalent parts or equipment owned by the relevant Owner Borrower free of any Security Interest except under the Permitted Security DocumentsInterests).