Common use of Title; Filings and Recordings Clause in Contracts

Title; Filings and Recordings. On or prior to the Closing Date, ----------------------------- (a) title to the Vessel shall have been duly and effectively vested in the Owner Trust pursuant to the Xxxx of Sale, free and clear of all Liens other than Permitted Liens, all filings and recordings or other actions necessary or advisable to establish the Owner Trust's right, title and interest in and to the Vessel Interest, and to perfect the mortgage Lien on and security interest in the Indenture Estate created by the Indenture and the Ship Mortgage (including, without limitation, all filings and recordings necessary to register the Owner Trust's title to the Vessel in the Xxxxxxxx Islands and the filing of the Ship Mortgage in the Office of the Maritime Administrator of the Xxxxxxxx Islands registry), shall have been duly made, subject to requirements for filing continuation statements at appropriate intervals and subject to Permitted Liens, and (b) no other action shall be required to perfect such mortgage Lien and security interest.

Title; Filings and Recordings. On or prior to the Closing Date, ----------------------------- (a) title to the Vessel Interest shall have been duly and effectively vested in the Owner Trust pursuant to the Xxxx of Sale, free and clear of all Liens other than Permitted Liens, all filings and recordings or other actions necessary or advisable to establish the Owner Trust's right, title and interest in and to the Vessel Interest, and to perfect the mortgage Lien on and security interest in the Indenture Estate created by the Indenture and the Ship Mortgage (including, without limitation, all filings and recordings necessary to register the Owner Trust's title to the Vessel in the Xxxxxxxx Islands and the filing of the Ship Mortgage in the Office of the Maritime Administrator of the Xxxxxxxx Islands registry), shall have been duly made, subject to requirements for filing continuation statements at appropriate intervals and subject to Permitted Liens, and (b) no other action shall be required to perfect such mortgage Lien and security interest.