Common use of Removal of parts Clause in Contracts

Removal of parts. The Borrower shall procure that each Guarantor shall not remove any material part of the Ship owned by it, or any item of equipment installed on that Ship, unless 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, is free from any Security Interest or any right in favour of any person other than the Lender and becomes on installation on that Ship, the property of the relevant Guarantor, and subject to the security constituted by the Mortgage and the Deed of Covenant relating to that Ship Provided that the relevant Guarantor may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by it.

Removal of parts. The Borrower shall procure that each no Guarantor shall not remove any material part of the Ship owned by it, or any item of equipment installed on that Shipon, the Ship unless 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, is free from any Security Interest or any right in favour of any person other than the Lender Security Trustee and becomes on installation on that Ship, the Ship the property of the relevant Guarantor, that Guarantor and subject to the security constituted by the Mortgage and Mortgage, relative to the Deed of Covenant relating to that Ship Provided that the relevant a Guarantor may install equipment owned by a third party if the equipment can be removed without any material risk of damage to the Ship owned by itShip.

Removal of parts. The Borrower shall procure that each neither Corporate Guarantor shall not remove any material part of the Ship owned by itits Ship, or any item of equipment installed on that Ship, Ship unless 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, is free from any Security Interest or any right in favour of any person other than the Lender and becomes on installation on that Ship, Ship the property of the relevant Guarantor, that Corporate Guarantor and subject to the security constituted by the relevant Mortgage and the Deed of Covenant relating to that Ship Provided that the relevant a Corporate Guarantor may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by it.

Removal of parts. The Borrower shall procure that each No Guarantor shall not remove any material part of the Ship owned by it, or any item of equipment installed on on, that Ship, Ship unless 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, is free from any Security Interest or any right (other than Permitted Security) in favour favor of any person other than the Lender Security Trustee and becomes on installation on that Ship, Ship the property of the relevant Guarantor, Guarantor concerned and subject to the security constituted by the Mortgage and the Deed of Covenant relating to relevant Mortgage; provided that Ship Provided that the relevant a Guarantor may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by it.

Removal of parts. The Borrower shall procure that each No Guarantor shall not remove any material part of the Ship owned by it, or any item of equipment installed on on, that Ship, Ship unless 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, is free from any Security Interest or any right in favour favor of any person other than the Lender Security Trustee and becomes on installation on that Ship, the property of the relevant Guarantor, that Guarantor and subject to the security constituted by the Mortgage and the Deed of Covenant relating to Mortgage, provided that Ship Provided that the relevant a Guarantor may install and remove equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by it.

Removal of parts. The Borrower shall procure that each Each Guarantor shall in relation to each Ship owned by it not remove any material part of the Ship owned by itthat Ship, or any item of equipment installed on on, that Ship, Ship unless 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, is free from any Security Interest or any right in favour of any person other than the Lender Security Trustee and becomes on installation on that Ship, Ship the property of the relevant Guarantor, that Guarantor and subject to the security constituted by the Mortgage and the Deed of Covenant relating to that Ship Provided that the relevant that Guarantor may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by itthat Ship.

Removal of parts. The Borrower shall procure that each No Guarantor shall not remove any material part of the Ship owned by it, or any item of equipment installed on on, that Ship, Ship unless 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, is free from any Security Interest or any right in favour favor of any person other than the Lender Security Trustee and becomes on installation on that Ship, the property of the relevant Guarantor, that Guarantor and subject to the security constituted by the Mortgage and the Deed of Covenant relating to a Mortgage, provided that Ship Provided that the relevant a Guarantor may install and remove equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by it.

Removal of parts. The Borrower shall procure that each no Guarantor shall not remove any material part of the Ship owned by it, or any item of equipment installed on on, that Ship, Ship unless 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, is free from any Security Interest or any right in favour of any person other than the Lender Security Trustee and becomes on installation on that Ship, Ship the property of the relevant Guarantor, that Guarantor and subject to the security constituted by the Mortgage and the Deed of Covenant relating to that Ship Provided that the relevant an Guarantor may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by it.

Removal of parts. The Borrower shall procure that each no Guarantor or Collateral Guarantor shall not remove any material part of the Ship owned by it, or any item of equipment installed on that Shipon, the Ship unless 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, is free from any Security Interest or any right in favour of any person other than the Lender Security Trustee and becomes on installation on that Ship, the Ship the property of the relevant Guarantor, that Guarantor or Collateral Guarantor and subject to the security constituted by the Mortgage and Mortgage, relative to the Deed of Covenant relating to that Ship Provided that the relevant a Guarantor or Collateral Guarantor may install equipment owned by a third party if the equipment can be removed without any material risk of damage to the Ship owned by itShip.

Removal of parts. The Borrower shall procure that each Corporate Guarantor shall not remove any material part of the Ship owned by itShip, or any item of equipment installed on that Shipon, the Ship unless 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, is free from any Security Interest or any right in favour of any person other than the Lender Lenders and becomes on installation on that Ship, the Ship the property of the relevant Guarantor, Corporate Guarantor and subject to the security constituted by the relevant Mortgage and the Deed of Covenant relating to that Ship Provided that the relevant Corporate Guarantor may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by itShip.