Common use of Sundry Provisions Clause in Contracts

Sundry Provisions. SECTION 4.1 The maximum principal amount secured by this Mortgage at any time is Two Billion Six Hundred Seventy Four Million Nine Hundred Ninety Nine Thousand United States Dollars (US$2,674,999,000), and for purposes of recording this Mortgage, the total amount of this Mortgage is Two Billion Six Hundred Seventy Four Million Nine Hundred Ninety Nine Thousand United States Dollars (US$2,674,999,000). In addition to principal, this Mortgage also secures the other Secured Obligations, including interest, costs and expenses of collection and other sums which are deemed to be secured by the relevant laws of the Republic of Panama, as provided in this Mortgage, the Existing Indenture, the 2012 Indenture, the Term Loan Agreement, the Credit Agreement and the other Pari Passu Documents. The maturity date of this Mortgage is November 1, 2019. SECTION 4.2 All of the covenants, promises, stipulations and agreements of the Shipowner in this Mortgage contained shall bind the Shipowner and its successors and permitted assigns and shall be binding on and inure to the benefit of the Mortgagee and its successors and permitted assigns. In the event of any assignment of this Mortgage by the Mortgagee in accordance with the applicable provisions of any Pari Passu Collateral Document, the term “Mortgagee” as used in this Mortgage shall be deemed to mean any such successor or permitted assignee. SECTION 4.3 Wherever and whenever herein any right, power or authority is granted or given to the Mortgagee, such right, power or authority may be exercised in all cases by the Mortgagee or such agent or agents as it may appoint, and the act or acts of such agent or agents when taken shall constitute the act of the Mortgagee hereunder. SECTION 4.4 (a) In the event that any provision of this Mortgage shall be deemed invalid or unenforceable by reason of any present or future law or any decision of any court of competent jurisdiction, the validity and enforceability of any other provision hereof shall not be affected thereby. Any such invalidity or unenforceability of any provision of this Mortgage in any jurisdiction or nation shall not render such provision invalid or unenforceable under the laws of any other jurisdiction or nation.

Sundry Provisions. SECTION 4.1 Section 27. The maximum principal total amount of the direct or contingent obligations secured by this Mortgage at any time is Two Billion Six Hundred Seventy Four Million Nine Hundred Ninety Nine Thousand United States and No/100 Dollars (US$2,674,999,000)US$ ) in principal amount (exclusive of interest, expenses and fees) and interest, expenses, fees and performance of mortgage covenants. The discharge amount is the same as the total amount. It is not intended that this Mortgage shall include property other than the Vessel, and it shall not include property other than the Vessel as the term “vessel” is used in the Ship Mortgage Act. Notwithstanding the foregoing, for purposes of recording property other than the Vessel, if any should be determined to be covered by this Mortgage, the total discharge amount of this Mortgage is Two Billion Six Hundred Seventy Four Million Nine Hundred Ninety Nine Thousand United States Dollars zero point zero one percent (US$2,674,999,000). In addition to principal, this Mortgage also secures the other Secured Obligations, including interest, costs and expenses of collection and other sums which are deemed to be secured by the relevant laws 0.01%) of the Republic of Panama, as provided in this Mortgage, the Existing Indenture, the 2012 Indenture, the Term Loan Agreement, the Credit Agreement and the other Pari Passu Documentstotal amount. Section 28. The maturity date obligations of this Mortgage is November 1, 2019. SECTION 4.2 All of the covenants, promises, stipulations and agreements of the Shipowner in this Mortgage contained shall bind the Shipowner and its successors and permitted assigns and shall be binding on and inure with respect to the benefit indemnification of the Mortgagee and its successors and permitted assigns. In the event of any assignment of this Mortgage by the Mortgagee in accordance with the applicable provisions of any Pari Passu Collateral Document, the term “Mortgagee” as used in this Mortgage shall be deemed to mean any such successor or permitted assigneegoverned by Section 9.05 of the Credit Agreement. SECTION 4.3 Section 29. Wherever and whenever herein any right, power or authority is granted or given to the Mortgagee, such right, power or and authority may be exercised in all cases by the Mortgagee or such agent or agents as it may appoint, and the act or acts of such agent or agents when taken shall constitute the act of the Mortgagee hereunder. SECTION 4.4 Section 30. In the event any one or more of the provisions contained in this Mortgage should be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein shall not in any way be affected or impaired thereby. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. Section 31. All notices and other communications provided for hereunder shall be in writing and shall be mailed, emailed, telecopied or delivered, if to any party, at the following address: if to the Mortgagee, to it at the following address: 00 Xxxxx Xxxxx Xxxxxx, Xxxxx 0000 Xxxxxxxxxxx, XX 00000 Attention: Xxxxxxx Xxxx Email: xxxxx@xxxxxxxxxxxxxxx.xxx Telecopier: 000-000-0000 If to the Shipowner, to it at the following address: c/o VICI Properties, Inc. 0000 X. Xxxxxx Xxxx, Xxxxx 000 Xxx Xxxxx, Xxxxxx 00000 Attention: Xxxx X. Xxxxxxx & Xxx Xxxxx Email: Xxxxxxxx@xxxxxxxxxxxxxx.xxx & Telephone: (000) 000-0000 Fax No.: (000) 000 0000 With a copy to: XXXXXXXX & XXXXX LLP 000 Xxxxx XxXxxxx Xxxxxx Xxxxxxx, Xxxxxxxx 00000 Attn: Xxxxxxxx Xxxxxxxxx, P.C. Email: xxxxxxxxxx@xxxxxxxx.xxx Fax No.: (000) 000-0000 or, as to each party, at such other address as shall be designated by such party in a written notice to the other party complying as to delivery with the terms of this Section 34. All such notices and other communications shall be effective, (a) In if mailed, when received or three Business Days after deposited in the event that any provision of this Mortgage shall be deemed invalid mails, whichever occurs first, (b) if telecopied or unenforceable by reason of any present emailed, when transmitted and confirmation received, or future law or any decision of any court of competent jurisdiction(c) if delivered, the validity and enforceability of any other provision hereof shall not be affected thereby. Any such invalidity or unenforceability of any provision of this Mortgage in any jurisdiction or nation shall not render such provision invalid or unenforceable under the laws of any other jurisdiction or nationupon delivery.

Sundry Provisions. SECTION 4.1 The 1. For the purposes of this Mortgage and Chapter 313, the maximum principal amount of the direct or contingent obligations outstanding at any one time that is or may become secured by this Mortgage at any time is Two Billion Six Hundred Seventy Four Million Nine Hundred Ninety Nine Thousand United States Dollars (US$2,674,999,000)the principal sum of U.S. $200,000,000, and for purposes of recording this Mortgage, the total amount of this Mortgage is Two Billion Six Hundred Seventy Four Million Nine Hundred Ninety Nine Thousand United States Dollars (US$2,674,999,000). In addition to principal, this Mortgage also secures the other Secured Obligations, including plus interest, costs expenses and expenses of collection and other sums which are deemed to be secured by the relevant laws of the Republic of Panama, as provided in this Mortgage, the Existing Indenture, the 2012 Indenture, the Term Loan Agreement, the Credit Agreement and the other Pari Passu Documentsfees. The maturity date of this Mortgage discharge amount is November 1, 2019the same as the maximum amount. SECTION 4.2 2. The names and addresses of each of the parties to this Mortgage are as follows: (a) Mortgagor: Great Lakes Dredge & Dock Company, LLC, 0000 Xxxx Xxxx, Xxx Xxxxx, Xxxxxxxx 00000; (b) Mortgagee: Travelers Casualty and Surety Company and Travelers Casualty and Surety Company of America, Xxx Xxxxx Xxxxxx, 0X0, Xxxxxxxx, Xxxxxxxxxxx 00000. SECTION 3. All of the covenants, promises, stipulations and agreements of the Shipowner Mortgagor contained in this Mortgage contained shall bind the Shipowner Mortgagor and its successors and permitted assigns (including successors by way of merger, acquisition or similar event) and shall be binding on and inure to the benefit of the Mortgagee and its successors and permitted assignsassigns(including successors by way of merger, acquisition or similar event). In the event of any assignment of this Mortgage by the Mortgagee in accordance with the applicable provisions of any Pari Passu Collateral DocumentMortgage, the term “Mortgagee” ”, as used in this Mortgage Mortgage, shall be deemed to mean any such successor or permitted assignee. SECTION 4.3 4. Wherever and whenever herein any right, power or authority is granted or given to the Mortgagee, such right, power or authority may be exercised in all cases by the Mortgagee or such agent or agents as it may appoint, and the act or acts of such agent or agents when taken shall constitute the act of the Mortgagee hereunder. SECTION 4.4 5. This Mortgage may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. SECTION 6. Unless otherwise specifically provided herein, all notices required or permitted by the terms hereof shall be given in the manner and with the effect provided for in the Bonding Agreement. SECTION 7. At the reasonable request of the Mortgagee, to the extent reasonably available to the Mortgagor, the Mortgagor will cause to be delivered to Mortgagee for inspection, copies of any and all material contracts and documents relating to the Vessels, whether on board or not, subject to the confidentiality provisions set forth in the Bonding Agreement. SECTION 8. This Mortgage may be amended or supplemented from time to time, but only by an instrument in writing executed by the Mortgagor and the Mortgagee and duly acknowledged pursuant to Chapter 313. SECTION 9. THIS MORTGAGE AND ALL THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEIR SUCCESSORS AND ASSIGNS SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW BUT EXCLUDING ALL OTHER CHOICE OF LAW AND CONFLICTS OF LAWS, AND EXCEPT TO THE EXTENT PREEMPTED BY APPLICABLE FEDERAL AND MARITIME LAWS OF THE UNITED STATES. SECTION 10. So long as the Intercreditor Agreement remains in effect, any provision set forth in the Intercreditor Agreement (aincluding without limitation any provision limiting the use of the Vessels by the Mortgagee or foreclosure actions by the Mortgagee or prescribing the use or application of proceeds of the Vessels) In the event that which conflicts with any provision of this Mortgage shall be deemed invalid govern. SECTION 11. The Mortgagee may permit the separate discharge of one or unenforceable by reason more Vessels or of any present or future law or any decision of any court of competent jurisdiction, property that is not a vessel from the validity and enforceability of any other provision hereof shall not be affected thereby. Any such invalidity or unenforceability of any provision lien of this Mortgage in as permitted by the Bonding Agreement. SECTION 12. Notwithstanding any jurisdiction or nation other provisions of this Mortgage to the contrary, nothing herein shall not render waive the preferred status of this Mortgage and if any provision herein shall be construed to waive such status, such provision invalid or unenforceable under shall, to the laws extent so construed, be void and of any other jurisdiction or nationno effect.

Sundry Provisions. SECTION Section 4.1 The maximum principal amount secured by this Mortgage at any time is Two Billion Six Hundred Seventy Four Seventy-six Million Nine Hundred Ninety Nine Thousand United States Xxx Xxxxxxx Xxxxxx-xxxx Xxxxxxxx Xxxxxx Xxxxxx Dollars (US$2,674,999,00076,125,000), and for purposes of recording this Mortgage, the total amount of this Mortgage is Two Billion Six Hundred Seventy Four Seventy-six Million Nine Hundred Ninety Nine Thousand United States Xxx Xxxxxxx Xxxxxx-xxxx Xxxxxxxx Xxxxxx Xxxxxx Dollars (US$2,674,999,00076,125,000). In addition to principal, this Mortgage also secures the other Secured Obligations, including interest, costs and expenses of collection and other sums which are deemed to be secured by the relevant laws of the Republic of Panama, as provided in this Mortgage, the Existing Indenture, the 2012 Indenture, the Term Loan Agreement, the Credit Agreement Second Lien Indenture and the any other Pari Passu Second Lien Note Documents. The maturity date of this Mortgage is November 1December 31, 20192020. SECTION Section 4.2 All Subject and subordinate always to the prior rights of the First Mortgagee under the First Mortgage, all of the covenants, promises, stipulations and agreements of the Shipowner in this Mortgage contained shall bind the Shipowner and its successors and permitted assigns and shall be binding on and inure to the benefit of the Mortgagee and its successors and permitted assigns. In the event of any assignment of this Mortgage by the Mortgagee in accordance with the applicable provisions of the Second Lien Indenture, any Pari Passu Collateral Documentother Second Lien Note Documents and the Second Lien Intercreditor Agreement, as applicable, the term “Mortgagee” as used in this Mortgage shall be deemed to mean any such successor or permitted assignee. SECTION Section 4.3 Wherever and whenever herein any right, power or authority is granted or given to the Mortgagee, such right, power or authority may be exercised in all cases by the Mortgagee or such agent or agents as it may appoint, and the act or acts of such agent or agents when taken shall constitute the act of the Mortgagee hereunder. SECTION Section 4.4 (a) In the event that any provision of this Mortgage shall be deemed invalid or unenforceable by reason of any present or future law Legal Requirement or any decision of any court of competent jurisdiction, the validity and enforceability of any other provision hereof shall not be affected thereby. Any such invalidity or unenforceability of any provision of this Mortgage in any jurisdiction or nation shall not render such provision invalid or unenforceable under the laws Legal Requirements of any other jurisdiction or nation.

Sundry Provisions. SECTION 4.1 The 1. For the purposes of this Mortgage and the Act, the maximum principal amount of the direct or contingent obligations outstanding at any one time that is or may become secured by this Mortgage at any time is Two Billion Six Hundred Seventy Four Million Nine Hundred Ninety Nine Thousand United States Dollars (US$2,674,999,000)the principal sum of U.S. $200,000,000, and for purposes of recording this Mortgage, the total amount of this Mortgage is Two Billion Six Hundred Seventy Four Million Nine Hundred Ninety Nine Thousand United States Dollars (US$2,674,999,000). In addition to principal, this Mortgage also secures the other Secured Obligations, including plus interest, costs expenses and expenses of collection and other sums which are deemed to be secured by the relevant laws of the Republic of Panama, as provided in this Mortgage, the Existing Indenture, the 2012 Indenture, the Term Loan Agreement, the Credit Agreement and the other Pari Passu Documentsfees. The maturity date of this Mortgage discharge amount is November 1, 2019the same as the maximum amount. SECTION 4.2 2. The names and addresses of each of the parties to this Mortgage are as follows: (a) Mortgagor: Great Lakes Dredge & Dock Company, LLC, 0000 Xxxx Xxxx, Xxx Xxxxx, Xxxxxxxx 00000; (b) Mortgagee: Travelers Casualty and Surety Company and Travelers Casualty and Surety Company of America, Xxx Xxxxx Xxxxxx, 0X0, Xxxxxxxx, XX 00000. SECTION 3. All of the covenants, promises, stipulations and agreements of the Shipowner Mortgagor contained in this Mortgage contained shall bind the Shipowner Mortgagor and its successors and permitted assigns (including successors by way of merger, acquisition or similar event) and shall be binding on and inure to the benefit of the Mortgagee and its successors and permitted assignsassigns (including successors by way of merger, acquisition or similar event). In the event of any assignment of this Mortgage by the Mortgagee in accordance with the applicable provisions of any Pari Passu Collateral DocumentMortgage, the term “Mortgagee” ”, as used in this Mortgage Mortgage, shall be deemed to mean any such successor or permitted assignee. SECTION 4.3 4. Wherever and whenever herein any right, power or authority is granted or given to the Mortgagee, such right, power or authority may be exercised in all cases by the Mortgagee or such agent or agents as it may appoint, and the act or acts of such agent or agents when taken shall constitute the act of the Mortgagee hereunder. SECTION 4.4 5. This Mortgage may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. SECTION 6. Unless otherwise specifically provided herein, all notices required or permitted by the terms hereof shall be given in the manner and with the effect provided for in the Credit Agreement. SECTION 7. At the reasonable request of the Mortgagee, to the extent reasonably available to the Mortgagor, the Mortgagor will cause to be delivered to Mortgagee for inspection, copies of any and all material contracts and documents relating to the Vessel, whether on board or not, subject to the confidentiality provisions set forth in the Credit Agreement. SECTION 8. This Mortgage may be amended or supplemented from time to time, but only by an instrument in writing executed by the Mortgagor and the Mortgagee and duly acknowledged pursuant to the Act. SECTION 9. GOVERNING LAW; CHOICE OF LAW. THE PARTIES AGREE THAT THIS MORTGAGE SHALL BE GOVERNED BY THE PREFERRED MORTGAGE AND MARITIME LIENS ACT OF THE REPUBLIC OF THE XXXXXXXX ISLANDS AS CODIFIED AT CHAPTER 3 OF THE REPUBLIC OF THE XXXXXXXX ISLANDS MARITIME ACT, 1990, AS AMENDED; PROVIDED HOWEVER THAT EXCEPT TO THE EXTENT PREEMPTED BY SUCH LAW; ALL RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEIR SUCCESSORS AND ASSIGNS WITH RESPECT TO THIS MORTGAGE SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, BUT EXCLUDING ALL OTHER CHOICE OF LAW AND CONFLICTS OF LAWS, AND BY THE MARITIME LAWS OF THE UNITED STATES. SECTION 10. So long as the Intercreditor Agreement remains in effect, any provision set forth in the Intercreditor Agreement (aincluding without limitation any provision limiting the use of the Vessel by the Mortgagee or foreclosure actions by the Mortgagee or prescribing the use or application of proceeds of the Vessel) In the event that which conflicts with any provision of this Mortgage shall be deemed invalid govern. SECTION 11. The Mortgagee may permit the separate discharge of the Vessel or unenforceable by reason of any present or future law or any decision of any court of competent jurisdiction, property that is not a vessel from the validity and enforceability of any other provision hereof shall not be affected thereby. Any such invalidity or unenforceability of any provision lien of this Mortgage in as permitted by the Bonding Agreement. SECTION 12. Notwithstanding any jurisdiction or nation other provisions of this Mortgage to the contrary, nothing herein shall not render waive the preferred status of this Mortgage and if any provision herein shall be construed to waive such status, such provision invalid or unenforceable under shall, to the laws extent so construed, be void and of any other jurisdiction or nationno effect.

Sundry Provisions. SECTION 4.1 The 1. For the purposes of this Mortgage and Chapter 313, the maximum principal amount of the direct or contingent obligations outstanding at any one time that is or may become secured by this Mortgage at any time is Two Billion Six Hundred Seventy Four Million Nine Hundred Ninety Nine Thousand United States Dollars (US$2,674,999,000)the principal sum of U.S. $225,000,000, and for purposes of recording this Mortgage, the total amount of this Mortgage is Two Billion Six Hundred Seventy Four Million Nine Hundred Ninety Nine Thousand United States Dollars (US$2,674,999,000). In addition to principal, this Mortgage also secures the other Secured Obligations, including plus interest, costs expenses and expenses of collection and other sums which are deemed to be secured by the relevant laws of the Republic of Panama, as provided in this Mortgage, the Existing Indenture, the 2012 Indenture, the Term Loan Agreement, the Credit Agreement and the other Pari Passu Documentsfees. The maturity date of this Mortgage discharge amount is November 1, 2019the same as the maximum amount. SECTION 4.2 2. The names and addresses of each of the parties to this Mortgage are as follows: (a) Mortgagor: Great Lakes Dredge & Dock Company, LLC, 0000 Xxxx Xxxx, Xxx Xxxxx, Xxxxxxxx 00000; (b) Mortgagee: Xxxxx Fargo Bank, National Association, as Administrative Agent, 0000 Xxxxxxxxx Xxxxxx, 0xx Xxxxx, Xxxxxxx, Xxxxx 00000-0000. SECTION 3. All of the covenants, promises, stipulations and agreements of the Shipowner Mortgagor contained in this Mortgage contained shall bind the Shipowner Mortgagor and its successors and permitted assigns (including successors by way of merger, acquisition or similar event) and shall be binding on and inure to the benefit of the Mortgagee and its successors and permitted assignsassigns (including successors by way of merger, acquisition or similar event). In the event of any assignment of this Mortgage by the Mortgagee in accordance with the applicable provisions of any Pari Passu Collateral DocumentMortgage, the term “Mortgagee” ”, as used in this Mortgage Mortgage, shall be deemed to mean any such successor or permitted assignee. SECTION 4.3 4. Wherever and whenever herein any right, power or authority is granted or given to the Mortgagee, such right, power or authority may be exercised in all cases by the Mortgagee or such agent or agents as it may appoint, and the act or acts of such agent or agents when taken shall constitute the act of the Mortgagee hereunder. SECTION 4.4 (a) In 5. This Mortgage may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the event same instrument. SECTION 6. Unless otherwise specifically provided herein, all notices required or permitted by the terms hereof shall be given in the manner and with the effect provided for in the Credit Agreement. SECTION 7. At the reasonable request of the Mortgagee, to the extent reasonably available to the Mortgagor, the Mortgagor will cause to be delivered to Mortgagee for inspection, copies of any and all material contracts and documents relating to the Vessels, whether on board or not, subject to the confidentiality provisions set forth in the Credit Agreement. SECTION 8. This Mortgage may be amended or supplemented from time to time, but only by an instrument in writing executed by the Mortgagor and the Mortgagee and duly acknowledged pursuant to Chapter 313. SECTION 9. THIS MORTGAGE AND ALL THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEIR SUCCESSORS AND ASSIGNS SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW BUT EXCLUDING ALL OTHER CHOICE OF LAW AND CONFLICTS OF LAWS, AND EXCEPT TO THE EXTENT PREEMPTED BY APPLICABLE FEDERAL AND MARITIME LAWS OF THE UNITED STATES. SECTION 10. The Mortgagee may permit the separate discharge of one or more Vessels or of property that any provision is not a vessel from the lien of this Mortgage shall be deemed invalid or unenforceable as permitted by reason of any present or future law or any decision of any court of competent jurisdiction, the validity and enforceability of Credit Agreement. SECTION 11. Notwithstanding any other provision hereof shall not be affected thereby. Any such invalidity or unenforceability of any provision provisions of this Mortgage in to the contrary, nothing herein shall waive the preferred status of this Mortgage and if any jurisdiction or nation provision herein shall not render be construed to waive such status, such provision invalid or unenforceable under shall, to the laws extent so construed, be void and of any other jurisdiction or nationno effect.

Sundry Provisions. SECTION Section 4.1 The maximum principal amount secured by this Mortgage at any time is Two Billion Six Seven Hundred Seventy Four Forty-Nine Million Nine Hundred Ninety Nine Eighty-Three Thousand United States Three Hundred Seventy-Two and 99⁄000 Xxxxxx Xxxxxx Dollars (US$2,674,999,000749,983,372.99), and for purposes of recording this Mortgage, the total amount of this Mortgage is Two Billion Six Seven Hundred Seventy Four Forty-Nine Million Nine Hundred Ninety Nine Eighty-Three Thousand United States Three Hundred Seventy-Two and 99⁄000 Xxxxxx Xxxxxx Dollars (US$2,674,999,000749,983,372.99). In addition to principal, this Mortgage also secures the other Secured Obligations, including interest, costs and expenses of collection and other sums which are deemed to be secured by the relevant laws of the Republic of Panama, as provided in this Mortgage, the Existing Indenture, the 2012 Indenture, the Term Loan Agreement, the Credit Agreement Third Lien Indenture and the any other Pari Passu Third Lien Note Documents. The maturity date of this Mortgage is November 1December 31, 20192030. SECTION Section 4.2 All Subject and subordinate always to the prior rights of the First Mortgagee under the First Mortgage and the prior rights of the Second Mortgagee under the Second Mortgage, all of the covenants, promises, stipulations and agreements of the Shipowner in this Mortgage contained shall bind the Shipowner and its successors and permitted assigns and shall be binding on and inure to the benefit of the Mortgagee and its successors and permitted assigns. In the event of any assignment of this Mortgage by the Mortgagee in accordance with the applicable provisions of the Third Lien Indenture, any Pari Passu Collateral Documentother Third Lien Note Documents and the Third Lien Intercreditor Agreement, as applicable, the term “Mortgagee” as used in this Mortgage shall be deemed to mean any such successor or permitted assignee. SECTION Section 4.3 Wherever and whenever herein any right, power or authority is granted or given to the Mortgagee, such right, power or authority may be exercised in all cases by the Mortgagee or such agent or agents as it may appoint, and the act or acts of such agent or agents when taken shall constitute the act of the Mortgagee hereunder. SECTION Section 4.4 (a) In the event that any provision of this Mortgage shall be deemed invalid or unenforceable by reason of any present or future law Legal Requirement or any decision of any court of competent jurisdiction, the validity and enforceability of any other provision hereof shall not be affected thereby. Any such invalidity or unenforceability of any provision of this Mortgage in any jurisdiction or nation shall not render such provision invalid or unenforceable under the laws Legal Requirements of any other jurisdiction or nation.

Sundry Provisions. SECTION 4.1 The 1. For the purposes of this Mortgage and the Act, the maximum principal amount of the direct or contingent obligations outstanding at any one time that is or may become secured by this Mortgage at any time is Two Billion Six Hundred Seventy Four Million Nine Hundred Ninety Nine Thousand United States Dollars (US$2,674,999,000)the principal sum of U.S. $200,000,000, and for purposes of recording this Mortgage, the total amount of this Mortgage is Two Billion Six Hundred Seventy Four Million Nine Hundred Ninety Nine Thousand United States Dollars (US$2,674,999,000). In addition to principal, this Mortgage also secures the other Secured Obligations, including plus interest, costs expenses and expenses of collection and other sums which are deemed to be secured by the relevant laws of the Republic of Panama, as provided in this Mortgage, the Existing Indenture, the 2012 Indenture, the Term Loan Agreement, the Credit Agreement and the other Pari Passu Documentsfees. The maturity date of this Mortgage discharge amount is November 1, 2019the same as the maximum amount. SECTION 4.2 2. The names and addresses of each of the parties to this Mortgage are as follows: (a) Mortgagor: Great Lakes Dredge & Dock Company, LLC, 0000 Xxxx Xxxx, Xxx Xxxxx, Xxxxxxxx 00000; (b) Mortgagee: Travelers Casualty and Surety Company and Travelers Casualty and Surety Company of America, Xxx Xxxxx Xxxxxx, 0X0, Xxxxxxxx, Xxxxxxxxxxx 00000. SECTION 3. All of the covenants, promises, stipulations and agreements of the Shipowner Mortgagor contained in this Mortgage contained shall bind the Shipowner Mortgagor and its successors and permitted assigns (including successors by way of merger, acquisition or similar event) and shall be binding on and inure to the benefit of the Mortgagee and its successors and permitted assignsassigns(including successors by way of merger, acquisition or similar event). In the event of any assignment of this Mortgage by the Mortgagee in accordance with the applicable provisions of any Pari Passu Collateral DocumentMortgage, the term “Mortgagee” ”, as used in this Mortgage Mortgage, shall be deemed to mean any such successor or permitted assignee. SECTION 4.3 4. Wherever and whenever herein any right, power or authority is granted or given to the Mortgagee, such right, power or authority may be exercised in all cases by the Mortgagee or such agent or agents as it may appoint, and the act or acts of such agent or agents when taken shall constitute the act of the Mortgagee hereunder. SECTION 4.4 5. This Mortgage may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument. SECTION 6. Unless otherwise specifically provided herein, all notices required or permitted by the terms hereof shall be given in the manner and with the effect provided for in the Bonding Agreement. SECTION 7. At the reasonable request of the Mortgagee, to the extent reasonably available to the Mortgagor, the Mortgagor will cause to be delivered to Mortgagee for inspection, copies of any and all material contracts and documents relating to the Vessel, whether on board or not, subject to the confidentiality provisions set forth in the Bonding Agreement. SECTION 8. This Mortgage may be amended or supplemented from time to time, but only by an instrument in writing executed by the Mortgagor and the Mortgagee and duly acknowledged pursuant to the Act. SECTION 9. GOVERNING LAW; CHOICE OF LAW. THE PARTIES AGREE THAT THIS MORTGAGE SHALL BE GOVERNED BY THE PREFERRED MORTGAGE AND MARITIME LIENS ACT OF THE REPUBLIC OF THE XXXXXXXX ISLANDS AS CODIFIED AT CHAPTER 3 OF THE REPUBLIC OF THE XXXXXXXX ISLANDS MARITIME ACT, 1990, AS AMENDED; PROVIDED HOWEVER THAT EXCEPT TO THE EXTENT PREEMPTED BY SUCH LAW; ALL RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND THEIR SUCCESSORS AND ASSIGNS WITH RESPECT TO THIS MORTGAGE SHALL BE GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, BUT EXCLUDING ALL OTHER CHOICE OF LAW AND CONFLICTS OF LAWS, AND BY THE MARITIME LAWS OF THE UNITED STATES. SECTION 10. So long as the first preferred ship mortgage on the Vessel in favor of the Lenders remains in effect and constitutes a lien prior to the lien of this Mortgage, the provisions of such first preferred ship mortgage shall take precedence over any conflicting provisions of this Mortgage. References in this Mortgage to the lien hereof being “second” shall not be construed as subordinating this Mortgage to any lien other than the lien of such first preferred ship mortgage, nor as subordinating this Mortgage to the lien of such first preferred ship mortgage for any period except for so long as it constitutes a lien prior to the lien of this Mortgage. SECTION 11. So long as the Intercreditor Agreement remains in effect, any provision set forth in the Intercreditor Agreement (aincluding without limitation any provision limiting the use of the Vessels by the Mortgagee or foreclosure actions by the Mortgagee or prescribing the use or application of proceeds of the Vessels) In the event that which conflicts with any provision of this Mortgage shall be deemed invalid govern. SECTION 12. The Mortgagee may permit the separate discharge of the Vessel or unenforceable by reason of any present or future law or any decision of any court of competent jurisdiction, property that is not a vessel from the validity and enforceability of any other provision hereof shall not be affected thereby. Any such invalidity or unenforceability of any provision lien of this Mortgage in as permitted by the Bonding Agreement. SECTION 13. Notwithstanding any jurisdiction or nation other provisions of this Mortgage to the contrary, nothing herein shall not render waive the preferred status of this Mortgage and if any provision herein shall be construed to waive such status, such provision invalid or unenforceable under shall, to the laws extent so construed, be void and of any other jurisdiction or nationno effect.

Sundry Provisions. SECTION Section 4.1 The maximum principal amount secured by this Mortgage at any time is Two Billion Six Seventy-six Million One Hundred Seventy Four Million Nine Hundred Ninety Nine Twenty-five Thousand United States Dollars (US$2,674,999,00076,125,000), and for purposes of recording this Mortgage, the total amount of this Mortgage is Two Billion Six Seventy-six Million One Hundred Seventy Four Million Nine Hundred Ninety Nine Twenty-five Thousand United States Dollars (US$2,674,999,00076,125,000). In addition to principal, this Mortgage also secures the other Secured Obligations, including interest, costs and expenses of collection and other sums which are deemed to be secured by the relevant laws of the Republic of Panama, as provided in this Mortgage, the Existing Indenture, the 2012 Indenture, the Term Loan Agreement, the Credit Agreement Second Lien Indenture and the any other Pari Passu Second Lien Note Documents. The maturity date of this Mortgage is November 1December 31, 20192020. SECTION Section 4.2 All Subject and subordinate always to the prior rights of the First Mortgagee under the First Mortgage, all of the covenants, promises, stipulations and agreements of the Shipowner in this Mortgage contained shall bind the Shipowner and its successors and permitted assigns and shall be binding on and inure to the benefit of the Mortgagee and its successors and permitted assigns. In the event of any assignment of this Mortgage by the Mortgagee in accordance with the applicable provisions of the Second Lien Indenture, any Pari Passu Collateral Documentother Second Lien Note Documents and the Second Lien Intercreditor Agreement, as applicable, the term “Mortgagee” as used in this Mortgage shall be deemed to mean any such successor or permitted assignee. SECTION Section 4.3 Wherever and whenever herein any right, power or authority is granted or given to the Mortgagee, such right, power or authority may be exercised in all cases by the Mortgagee or such agent or agents as it may appoint, and the act or acts of such agent or agents when taken shall constitute the act of the Mortgagee hereunder. SECTION Section 4.4 (a) In the event that any provision of this Mortgage shall be deemed invalid or unenforceable by reason of any present or future law Legal Requirement or any decision of any court of competent jurisdiction, the validity and enforceability of any other provision hereof shall not be affected thereby. Any such invalidity or unenforceability of any provision of this Mortgage in any jurisdiction or nation shall not render such provision invalid or unenforceable under the laws Legal Requirements of any other jurisdiction or nation.