Common use of Removal of parts Clause in Contracts

Removal of parts. The Borrower shall procure that each Owner 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 that Owner and subject to the security constituted by the relevant Mortgage Provided that 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 it.

Removal of parts. The Borrower No Guarantor shall procure that each Owner 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 the property of that Owner the Guarantor concerned and subject to the security constituted by the relevant Mortgage Provided Mortgage; provided that an Owner 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 No Guarantor shall procure that each Owner 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 Ship, the property of that Owner Guarantor and subject to the security constituted by the relevant Mortgage Provided Mortgage, provided that an Owner 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 Each Guarantor shall procure that in relation to each Owner shall 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 the property of that Owner Guarantor and subject to the security constituted by the relevant Mortgage of that Ship Provided that an Owner 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 No Guarantor shall procure that each Owner 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 Ship, the property of that Owner Guarantor and subject to the security constituted by the relevant Mortgage Provided a Mortgage, provided that an Owner 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 Owner 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 the property of that Owner Guarantor and subject to the security constituted by the relevant Mortgage Provided that an Owner 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 Owner 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 the Ship the property of that Owner the Corporate Guarantor and subject to the security constituted by the relevant Mortgage Provided that an Owner the 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.

Removal of parts. The Borrower shall procure that each Owner Corporate Guarantor shall not remove any material part of the Ship owned by itShip, or any material 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 the Ship the property of that Owner the Corporate Guarantor and subject to the security constituted by the relevant Mortgage Provided that an Owner the 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. This Clause 14.5 shall not apply to any part or item which has been temporarily removed for the purpose of repairs, maintenance, reconditioning or modification.