(Repairs-Works Sample Clauses

(Repairs-Works. (i) not without the prior written consent of the Bank (and then only subject to such conditions as the Bank may impose), purchase, acquire or otherwise agree to purchase or acquire on credit terms or with a reservation of ownership any item used to substitute any part of the Vessel having a value in excess of Dollars Four Hundred Thousand ($ 400,000.00) or the equivalent in any other currency, (ii) not without the previous consent in writing of the Bank, to put the Vessel in possession of any person for the purpose of alterations or repairs or other work being done thereon in an amount exceeding or likely to exceed Dollars Four Hundred Thousand ($ 400,000.00) or the equivalent in any other currency unless such person shall first have given to the Bank, and in terms satisfactory to it, a written undertaking not to exercise any lien or special privilege on the Vessel or its Earnings for the cost of such work or otherwise, and (ii) upon the Bank's request, promptly and in an event within seven (7) days from request, provide the Bank with receipts evidencing payment or settlement of all repair costs of the Vessel;