Common use of Revenues and proceeds of Vessel; Prior Liens Clause in Contracts

Revenues and proceeds of Vessel; Prior Liens. (i) The Mortgagee is hereby irrevocably appointed attorney-in- fact of the Mortgagor, with the power, among other things in the name of the Mortgagor to demand, collect, receive, compromise and xxx for, so far as may be permitted by law, all freights, hire, earnings, issues, revenues, income and profits of the Vessel, and all amounts due from underwriters under any insurance thereon as payment of losses or as return premiums or otherwise, salvage awards and recoveries, recoveries in general average or otherwise, and all other sums due or to become due in respect of the Vessel or in respect of any insurance thereon from any person whomsoever, and to make, give and execute in the name of the Mortgagor acquittances, receipts, releases or other discharges for the same, whether under seal or otherwise, and to endorse and accept in the name of the Mortgagor all checks, notes, drafts, warrants, agreements and all other instruments in writing with respect to the foregoing, the Mortgagor hereby confirming and ratifying the same.

Revenues and proceeds of Vessel; Prior Liens. (i) The Mortgagee is hereby irrevocably appointed attorney-in- in-fact of the Mortgagor, with the power, among other things things, so long as an Event of Default has occurred and is continuing, in the name of the Mortgagor to demand, collect, receive, compromise and xxx forsue xxx, so far as may be permitted by law, all freights, hire, earnings, issues, revenues, income and profits of the Vessel, and all amounts due from underwriters under any insurance thereon as payment of losses or as return premiums or otherwise, salvage awards and recoveries, recoveries in general average or otherwise, and all other sums due or to become due in respect of the Vessel or in respect of any insurance thereon from any person whomsoever, and to make, give and execute in the name of the Mortgagor acquittances, receipts, releases or other discharges for the same, whether under seal or otherwise, and to endorse and accept in the name of the Mortgagor all checks, notes, drafts, warrants, agreements and all other instruments in writing with respect to the foregoing, the Mortgagor hereby confirming and ratifying the same.

Revenues and proceeds of Vessel; Prior Liens. (i) The Mortgagee is hereby irrevocably appointed attorney-in- in-fact of the Mortgagor, with the power, among other things things, so long as an Event of Default has occurred and is continuing, in the name of the Mortgagor to demand, collect, receive, compromise and xxx sue for, so far as may be permitted by law, all freights, hire, earnings, issues, revenues, income and profits of the Vessel, and all amounts due from underwriters under any insurance thereon as payment of losses or as return premiums or otherwise, salvage awards and recoveries, recoveries in general average or otherwise, and all other sums due or to become due in respect of the Vessel or in respect of any insurance thereon from any person whomsoever, and to make, give and execute in the name of the Mortgagor acquittances, receipts, releases or other discharges for the same, whether under seal or otherwise, and to endorse and accept in the name of the Mortgagor all checks, notes, drafts, warrants, agreements and all other instruments in writing with respect to the foregoing, the Mortgagor hereby confirming and ratifying the same.

Revenues and proceeds of Vessel; Prior Liens. (i) The Mortgagee is hereby irrevocably appointed attorney-in- in-fact of the Mortgagor, with the power, among other things things, so long as an Event of Default has occurred and is continuing, in the name of the Mortgagor to demand, collect, receive, compromise and xxx sue for, so far as may be permitted by law, all freightsfrexxxts, hire, earnings, issues, revenues, income and profits of the Vessel, and all amounts due from underwriters under any insurance thereon as payment of losses or as return premiums or otherwise, salvage awards and recoveries, recoveries in general average or otherwise, and all other sums due or to become due in respect of the Vessel or in respect of any insurance thereon from any person Person whomsoever, and to make, give and execute in the name of the Mortgagor acquittances, receipts, releases or other discharges for the same, whether under seal or otherwise, and to endorse and accept in the name of the Mortgagor all checks, notes, drafts, warrants, agreements and all other instruments in writing with respect to the foregoing, the Mortgagor hereby confirming and ratifying the same.