Common use of Representations on the Delivery Date Clause in Contracts

Representations on the Delivery Date. The Borrower further represents and warrants to each of the Lenders that on the Delivery Date the Ship was: (a) in its absolute and unencumbered ownership save as contemplated by the Finance Documents; (b) registered in its name under the laws and flag of the Maritime Registry; (c) classed with the highest classification available for a Ship of its type free of all recommendations and qualifications with Lloyd’s Register, RINA or Bureau Veritas; (d) operationally seaworthy and in compliance with all relevant provisions, regulations and requirements (statutory or otherwise) applicable to ships registered under the laws and flag of the Maritime Registry; (e) in compliance with the ISM Code, the ISPS Code and Annex VI; (f) insured in accordance with the provisions of Clause 13.20 and in compliance with the requirements therein in respect of such insurances; and (g) managed by the Approved Manager and, in the event that the Approved Manager is not a member of the Group, on and subject to the terms set out in the External Management Agreement.

Representations on the Delivery Date. The Borrower further represents and warrants to each of the Lenders that on the Delivery Date the Ship waswill be: (a) in its absolute and unencumbered ownership save as contemplated by the Finance Documents; (b) registered in its name under the laws and flag of the Maritime Registry; (c) classed with the highest classification available for a Ship of its type free of all recommendations and qualifications with Lloyd’s Register, RINA or Bureau Veritas; (d) operationally seaworthy and in compliance with all relevant provisions, regulations and requirements (statutory or otherwise) applicable to ships registered under the laws and flag of the Maritime Registry; (e) in compliance with the ISM Code, the ISPS Code and Annex VI; (f) insured in accordance with the provisions of Clause 13.20 and in compliance with the requirements therein in respect of such insurances; and (g) managed by the Approved Manager and, in the event that the Approved Manager is not a member of the Group, on and subject to the terms set out in the External Management Agreement.

Representations on the Delivery Date. The Borrower further represents and warrants to each of the Lenders that on the Delivery Date the Ship waswill be: (a) in its absolute and unencumbered ownership save as contemplated by the Finance Documents; (b) registered in its name under the laws and flag of the Maritime Registry; (c) classed with the highest classification available for a Ship of its type free of all recommendations and qualifications with Lloyd’s Register, RINA RMA or Bureau Veritas; (d) operationally seaworthy and in compliance with all relevant provisions, regulations and requirements (statutory or otherwise) applicable to ships registered under the laws and flag of the Maritime Registry; (e) in compliance with the ISM Code, the ISPS Code and Annex VI; (f) insured in accordance with the provisions of Clause 13.20 and in compliance with the requirements therein in respect of such insurances; and (g) managed by the Approved Manager and, in the event that the Approved Manager is not a member of the Group, on and subject to the terms set out in the External Management Agreement.