Common use of Repair of the Vessels Clause in Contracts

Repair of the Vessels. The Borrower will not and will procure that the Manager will not, at any time after the Delivery Date of a Vessel put such Vessel into the possession of any person for the purpose of work being done upon her beyond the amount of US$5,000,000 (or equivalent), other than for classification or scheduled dry docking unless such person shall have given an undertaking to the Facility Agent not to exercise any lien on that Vessel or Obligatory Insurances for the cost of that work or otherwise.

Repair of the Vessels. The Borrower will not and will procure that the Manager will not, at any time after the Delivery Date Applicable Time, put any of a Vessel put such Vessel the Secured Vessels into the possession of any person for the purpose of work being done upon her beyond the amount of US$5,000,000 (or equivalent), other than for classification or scheduled dry docking unless such person shall have given an undertaking to the Facility Agent not to exercise any lien on that Vessel or Obligatory Insurances for the cost of that work or otherwise.

Repair of the Vessels. The Each Borrower will not and will procure that the Manager Manager, the Owners and the Bareboat Charterer will not, at any time after the Delivery Date Date, of a relevant Vessel put such Vessel either of the Vessels into the possession of any person for the purpose of work being done upon her beyond the amount of US$5,000,000 3,000,000 (or equivalent), other than for classification or scheduled dry docking unless such person shall have given an undertaking to the Facility Agent Lender not to exercise any lien on that Vessel or Obligatory Insurances for the cost of that work or otherwise.

Repair of the Vessels. The Borrower Guarantor will not and will procure that the Manager will not, at any time after the Delivery Date of a Vessel Vessel, put such Vessel into the possession of any person for the purpose of work being done upon her beyond the amount of US$5,000,000 (or equivalent), other than for classification or scheduled dry docking unless such person shall have given an undertaking to the Facility Agent not to exercise any lien on that Vessel or Obligatory Insurances for the cost of that work or otherwise.

Repair of the Vessels. The Borrower will not and will procure that the Manager will not, at any time after the Delivery Date Applicable Time, put any of a Vessel put such Vessel the Vessels into the possession of any person for the purpose of work being done upon her beyond the amount of US$5,000,000 (or equivalent), other than for classification or scheduled dry docking unless such person shall have given an undertaking to the Facility Agent not to exercise any lien on that Vessel or Obligatory Insurances for the cost of that work or otherwise.