Securitisation. Each Borrower shall, and the Borrowers shall procure that each Security Party will, assist the Agent and/or any Lender in achieving a successful securitisation (or similar transaction) in respect of the Loan and the Finance Documents and such Security Party’s reasonable costs for providing such assistance shall be met by the relevant Lender.
Securitisation. A Lender may include all or any part of the Loan in a securitisation or similar transaction without the consent of, or consultation with, but after giving 45-day notice to, the Borrower or any Security Party or any charterer. The Borrowers will assist the Lenders as necessary to achieve a successful securitisation (or similar transaction) Provided that the Borrowers shall not be required to bear any third party costs related to any such securitisation and need only provide such information which any third parties may reasonably request.
Securitisation. The Lender may disclose the size and term of the Loan and the name of each of the Obligors to any investor or potential investor in a securitisation (or similar transaction of broadly equivalent economic effect) of the Lender’s rights or obligations under the Finance Documents.
Securitisation. The Lender may include all or any part of the Loan in a securitisation (or similar transaction) pursuant to Law 3156/2003, or any other relevant legislation introduced or enacted after the date of this Agreement, without the consent of, or consultation with, but with notice to the Borrower. The Borrower will assist the Lender as necessary to achieve a successful securitisation (or similar transaction) provided that the Borrower shall not be required to bear any third party costs related to any such securitisation (or similar transaction) and that such securitisation (or similar transaction) shall not result in an increase of the Borrower’s obligations under this Agreement and the other Security Documents and need only provide any such information which any third parties may reasonably require.
Securitisation. The Agent or the Lenders may include the Loan in a securitisation or similar transaction without the consent of, or any consultation with the Borrowers and/or the Guarantor. The Agent and/or the Lenders (as the case may be) shall have full right of disclosure of information in connection with or in contemplation of such securitisation (or similar transaction). The Borrowers and the Guarantor shall assist the Agent as necessary to achieve a successful securitisation (or similar transaction), hereunder inter alia the following:
(a) Keep bank accounts where requested by the Agent and procure that the Earnings are paid to any such account; and
(b) Procure that the Insurances according to Clause 23.2 (Insurance – Vessels) are placed with insurers of the requisite rating; provided however that the Borrowers and/or the Guarantor shall not be required to bear any costs related to any such securitisation.
Securitisation. 14.1 The Borrower(s) expressly recognizes and accepts that VWFPL shall be absolutely entitled to, and has full power and authority to sell, assign or otherwise transfer in any manner whatsoever, in whole or in part, and in such manner and on such terms as VWFPL may decide (including if deemed appropriate by VWFPL reserving a right to VWFPL to retain its power to proceed against the Borrower(s) on behalf of the purchaser, assignee or transferee) any or all outstanding and dues of the Borrower(s), to any third party of VWFPL choice without any further reference or intimation or notice to the Borrower(s), and without seeking any consent of the Borrower(s). Any such action and any such sale, assignment or transfer shall bind the Borrower(s) to accept such third party as creditor exclusively or as a joint creditor with VWFPL or any other person, as the case may be. Any costs in this behalf, whether on account of such sale, assignment or transfer or enforcement of rights and recovery of outstanding and dues, shall be to the account of the Borrower(s). The Borrower(s) shall not assign this Agreement or any of the rights, duties or obligations of the Borrower(s) hereunder, except with prior written consent of VWFPL.
14.2 Without prejudice to the aforesaid provisions of Clause 14.1, VWFPL may (at its sole discretion), without notice to the Borrower(s), share the credit risk of the whole or a part of the Loan or Borrower(s) Dues with any other person by way of participation. Notwithstanding such participation, all rights, title, interests, special status, and other benefits and privileges enjoyed or conferred upon or held by VWFPL under this Agreement and the other Transaction Documents shall remain valid, effective and enforceable by VWFPL on the same terms and conditions and the Borrower(s) shall continue to discharge in full all its obligations under this Agreement and the other Transaction Documents to VWFPL.
14.3 Any cost in this behalf, whether on account of such sale, assignment, transfer, or enforcement of rights and recovery of outstanding dues shall be to the account of the Borrower(s).
Securitisation. 17.1 The Borrower expressly recognizes and accepts that the Lender shall be absolutely entitled and have full power and authority to sell, assign or transfer in any manner, in whole or in part, and in such manner and on such terms as the Lender may decide, including reserving a right to the Lender to retain its power hereunder to proceed against the Borrower on behalf of the purchaser, assignee or transferee, any or all outstanding and dues of the Borrower , to any third party of the Lender’s choice without reference to or without written intimation to the Borrower. Any such action and any such sale, assignment or transfer shall bind the Borrower to accept such third party as creditor exclusively or as a joint creditor with the Lender, or as creditor exclusively with the right to the Lender to continue to exercise all powers hereunder on behalf of such third party and to pay over such outstandings and dues to such third party and or to the Lender as the Lender may direct. The Borrower acknowledges and undertakes to pay to third parties the difference between the loan amount outstanding and the amount received by the Lender in the event of transfer of the portfolio to a third party. The third party shall have authority of the Borrower (s) to collect the due amounts.
Securitisation. A Lender may include all or any part of the Loan in a securitisation or similar transaction after consultation with, and after giving 45-day notice to, the Borrower but without the consent of the Borrower or any Security Party or any charterer of a Vessel. The Borrower will assist the Lenders as necessary to achieve a successful securitisation (or similar transaction) Provided that the Borrower shall not be required to bear any third party costs related to any such securitisation and need only provide such information which any third parties may reasonably request. Provided that a Lender may only give, divulge and reveal such information as the Borrower would be authorised to disclose in accordance with the rules and regulations of the public stock exchange in which it is listed and the recipient of such information shall execute a confidentiality agreement in relation to such information.
Securitisation. Each Obligor shall, assist the Facility Agent and/or any Lender in achieving a successful securitisation (or similar transaction) in respect of the Facility and the Finance Documents and such Obligor's reasonable costs for providing such assistance shall be met by the relevant Lender. The Borrower, if requested by the Facility Agent, shall provide documentation evidencing the purchase price of the Vessel when acquired by the Borrower.
Securitisation. 16.3.1 The Borrower agrees to:
(i) co-operate with the Bank to facilitate the rating of any of the Bank’s interest in any of the Finance Documents by internationally recognised ratings agencies nominated by the Bank (including providing access to the Property and the management of the Borrower); and
(ii) provide such information as the Bank may reasonably require in connection with the sale and transfer of the Bank’s interest in any of the Finance Documents in connection with any securitisation of the Loan whether alone or in conjunction with any other loan or loans, including any information that needs to be disclosed in any offering circular and/or to any internationally recognised ratings agency and its professional advisers, in each case, in connection with the assignment, transfer or disposal of any Bank’s interest in any of the Finance Documents in relation to any securitisation of all or part of the may, in its sole discretion, subdivide, split, sever, modify or retranche the Facility into one or more parts subject to the overall cost of the Facility remaining unchanged if such changes are necessary in order to achieve a successful execution of the loan facility of the securitisation whether alone or in conjunction with any other loan or loans.
16.3.2 The Bank may withhold consent to matters where it could have an adverse impact on ratings for the securitisation or similar transaction.
