Status of security. (a) Each Finance Document to which it is a party does now or, as the case may be, will upon execution and delivery (and, where applicable, registration) confer the Security it purports to confer over any assets to which such Security, by its terms, relates subject to any general principles of law limiting its obligations which are specifically referred to in any legal opinion delivered pursuant to Clause 4 (Conditions of Utilisation) or Clause 25 (Changes to the Obligors); and (b) no third party will have any Security (except for Permitted Security) over any asset to which such Security, by its terms, relates.
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Samples: Subordinated Facility Agreement (Diana Shipping Inc.), Subordinated Facility Agreement (Diana Containerships Inc.), Facility Agreement (Diana Containerships Inc.)
Status of security. (a) Each Finance Document to which it is a party does now or, as the case may be, will upon execution and delivery (and, where applicable, registration) confer the Security it purports to confer over any assets to which such Security, by its terms, relates subject to any general principles of law limiting its obligations which are specifically referred to in any legal opinion delivered pursuant to Clause 4 (Conditions of Utilisation) or Clause 25 28 (Changes to the Obligors); and
(b) no third party will have any Security (except for Permitted Security) over any asset to which such Security, by its terms, relates.
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