Common use of Securitisation Clause in Contracts

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. 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 Borrower 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 Borrower 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 – VesselsVessel) are placed with insurers of the requisite rating; provided however that the Borrowers Borrower and/or the Guarantor shall not be required to bear any costs related to any such securitisation.