Common use of The Vessels Clause in Contracts

The Vessels. In respect of each Vessel: a) The Charterparties (if any); b) Evidence (by way of transcript of registry) that the Vessel is, or will be, registered in the name of the relevant Borrower in the Hong Kong Registry, that the relevant Mortgage has been, or will in connection with the utilisation of the relevant Loan be, executed and recorded with its intended first priority against the Vessel and that no other encumbrances, maritime liens, mortgages or debts whatsoever are registered against the Vessel; c) An updated class certificate related to the Vessel from the relevant classification society, confirming that the Vessel is classed with the highest class in accordance with Clause 25.3 (Classification and repairs), free of extensions and overdue recommendations; d) Copies of insurance policies/cover notes documenting that insurance cover has been taken out in respect of the Vessel in accordance with Clause 25.2 (Insurance), and evidencing that the Agent's (on behalf of the Finance Parties and the Hedging Bank) Security Interest in the insurance policies have been noted in accordance with the relevant notices as required under the Assignment Agreement; e) The Vessel's current SMC; f) A copy of the ISSC; and g) The Technical Manager's current DOC.

The Vessels. In respect of each Vesselof the Vessels: a) The Charterparties (if any); b) Evidence (by way of transcript of registry) that the Vessel is, or will be, registered in the name of the relevant Borrower in the Hong Kong relevant Approved Ship Registry, that the relevant Mortgage has been, or will in connection with the utilisation of the relevant Loan be, executed and recorded with its intended first priority against the Vessel and that no other encumbrances, maritime liens, mortgages or debts whatsoever are registered against the Vessel; c) An updated class certificate related to the Vessel from the relevant classification society, confirming that the Vessel is classed with the highest class in accordance with Clause 25.3 243 (Classification and repairs), free of extensions and overdue recommendations; d) Copies of insurance policies/cover notes documenting that insurance cover has been taken out in respect of the Vessel in accordance with Clause 25.2 24.2 (Insurance), and evidencing that the Agent's ’s (on behalf of the Finance Parties and the Hedging BankSwap Banks) Security Interest in the insurance policies have been noted in accordance with the relevant notices as required under the Assignment Agreement; e) The Vessel's ’s current SMC; f) A copy of the ISSC; and g) The Technical Manager's ’s current DOC.