Common use of Ship’s name and registration Clause in Contracts

Ship’s name and registration. 20.1.1 The Borrower agrees: (a) not to change the name of the Ship without prior notification to the Agent; and (b) to keep the Ship registered in its name under the laws of an Approved Flag and not to permit its registration under any flag or at any other port without the prior written consent of the Agent and the Lenders. 20.1.2 If the flag State becomes involved in war or civil war or there is a seizure of power in the Flag State by unconstitutional means the Agent may notify the Borrower that it requires the flag and registry of the Vessel to be changed to another Approved Flag whereupon, subject to the consent of the Charterer pursuant to the Charter, the Borrower shall promptly implement such change.