Common use of Title; negative pledge Clause in Contracts

Title; negative pledge. Each Borrower will: (a) hold the legal title to, and own the entire beneficial interest in the Ship owned by it, her Insurances and Earnings, free from all Security Interests and other interests and rights of every kind, except for Permitted Security Interests; and (b) not create or permit to arise any Security Interest (except for Permitted Security Interests) over any other asset, present or future (including, but not limited to, the Borrowers’ rights against a Swap Counterparty under any Master Agreement or all or any part of the Borrowers’ interest in any amount payable to the Borrowers by a Swap Counterparty under a Master Agreement),

Appears in 4 contracts

Samples: Loan Agreement, Loan Agreement (Product Shipping Ltd.), Loan Agreement (Dynagas LNG Partners LP)

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Title; negative pledge. Each Borrower will: (a) hold the legal title to, and own the entire beneficial interest in the Ship owned by it, her Insurances and Earnings, free from all Security Interests and other interests and rights of every kind, except for Permitted Security Interests; and (b) not create or permit to arise any Security Interest (except for Permitted Security Interests) over any other asset, present or future (including, but not limited to, the Borrowers' rights against a Swap Counterparty under any Master Agreement or all or any part of the Borrowers' interest in any amount payable to the Borrowers by a Swap Counterparty under a Master Agreement),

Appears in 3 contracts

Samples: Loan Agreement, Loan Agreement (Dynagas LNG Partners LP), Loan Agreement (Dynagas LNG Partners LP)

Title; negative pledge. Each The Borrower will: (a) hold the legal title to, and own the entire beneficial interest in the Ship owned by itShip, her the Insurances and Earnings, free from all Security Interests and other interests and rights of every kind, except for Permitted Security Intereststhose created by the Finance Documents and the effect of assignments contained in the Finance Documents; and (b) not create or permit to arise any Security Interest (except for Permitted Security Interests) over any other asset, present or future (including, but not limited to, the Borrowers’ Borrower’s rights against a the Swap Counterparty Bank under any the Master Agreement or all or any part of the Borrowers’ Borrower’s interest in any amount payable to the Borrowers Borrower by a the Swap Counterparty Bank under a the Master Agreement),.

Appears in 1 contract

Samples: Loan Agreement (StealthGas Inc.)

Title; negative pledge. Each The Borrower will: (a) hold the legal title to, and own the entire beneficial interest in the Ship owned by itShip, her its Insurances and Earnings, free from all Security Interests and other interests and rights of every kind, except for Permitted Security Intereststhose created by the Finance Documents and the effect of assignments contained in the Finance Documents; and (b) not create or permit to arise any Security Interest (except for Permitted Security Interests) over any other asset, present or future (including, but not limited to, to the Borrowers’ Borrower's rights against a Swap Counterparty the Lender under any the Master Agreement or all or any part of the Borrowers’ Borrower's interest in any amount payable to the Borrowers Borrower by a Swap Counterparty the Lender under a the Master Agreement),.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

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Title; negative pledge. Each Borrower will: (a) hold the legal title to, and own the entire beneficial interest in the Ship owned by it, her the Insurances and Earnings, free from all Security Interests and other interests and rights of every kind, except for Permitted Security Intereststhose created by the Finance Documents and the effect of assignments contained in the Finance Documents; and (b) not create or permit to arise any Security Interest (except for Permitted Security Interests) over any other asset, present or future (including, but not limited to, the Borrowers’ that Borrower's rights against a Swap Counterparty Bank under any a Master Agreement or all or any part of the Borrowers’ such Borrower's interest in any amount payable to the Borrowers such Borrower by a Swap Counterparty Bank under a Master Agreement),.

Appears in 1 contract

Samples: Loan Agreement (Dynagas LNG Partners LP)

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