Common use of Requisition Compensation; and Clause in Contracts

Requisition Compensation; and. the employment of the Ship pursuant to the provisions of clause 7.1.6, shall be held by it upon trust in the first place to pay or make good the Expenses and the balance shall be applied by the Mortgagee in the manner specified in clause 13.1 of the Loan Agreement.

Appears in 2 contracts

Samples: Loan Agreement (Capital Maritime & Trading Corp.), Loan Agreement (Capital Maritime & Trading Corp.)

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Requisition Compensation; and. the employment of the Ship pursuant to the provisions of clause 7.1.6, shall be held by it upon trust in the first place to pay or make good the Expenses and the balance shall be applied by the Mortgagee in the manner specified in clause 13.1 of the Loan Agreement.shall:

Appears in 1 contract

Samples: Supplemental Agreement (Diana Shipping Inc.)

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Requisition Compensation; and. in respect to the employment of the Ship pursuant to the provisions of clause 7.1.6, shall be held by it upon trust in the first place to pay or make good the Expenses and the balance shall be applied by the Mortgagee in the manner specified in clause 13.1 of the Loan Agreement.shall:

Appears in 1 contract

Samples: Loan Agreement (Capital Maritime & Trading Corp.)

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