Validity, effectiveness and ranking 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 create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective.
Appears in 8 contracts
Samples: Facilities Agreement (Ardmore Shipping Corp), Assignment Agreement (Ardmore Shipping Corp), Assignment Agreement (Castor Maritime Inc.)
Validity, effectiveness and ranking 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 as provided for in that Finance Document create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective.
Appears in 5 contracts
Samples: Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.), Assignment Agreement (Ardmore Shipping Corp)
Validity, effectiveness and ranking 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 andcreate, where applicablesubject to the Perfection Requirements, registration create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective.
Appears in 5 contracts
Samples: Facility Agreement (United Maritime Corp), Facility Agreement (Seanergy Maritime Holdings Corp.), Facility Agreement (Seanergy Maritime Holdings Corp.)
Validity, effectiveness and ranking 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 create as provided for in that Finance Document create, the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective.
Appears in 5 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Validity, effectiveness and ranking 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 andcreate, where applicablesubject to the Legal Reservations and the Perfection Requirements, registration create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective.
Appears in 5 contracts
Samples: Agreement (Global Ship Lease, Inc.), Agreement (Okeanis Eco Tankers Corp.), Banks and Financial Institutions (Okeanis Eco Tankers Corp.)
Validity, effectiveness and ranking 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 create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, subject to the Legal Reservations which may be applicable at any relevant time, when created or intended to be created, be valid and effective.
Appears in 2 contracts
Samples: Assignment Agreement (Global Ship Lease, Inc.), Junior Facility Agreement (Global Ship Lease, Inc.)
Validity, effectiveness and ranking 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 create as provided for in that Finance Document create, subject to the Legal Reservations, the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective.
Appears in 2 contracts
Samples: Facility Agreement (Grindrod Shipping Holdings Pte. Ltd.), Assignment Agreement (Star Bulk Carriers Corp.)
Validity, effectiveness and ranking 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 create or recording as provided for in that Finance Document create, the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective.
Appears in 1 contract
Samples: Assignment Agreement (DryShips Inc.)
Validity, effectiveness and ranking of Security. (a) Each Finance Document to which it each Transaction Obligor is a party does now or, as the case may be, will upon execution and delivery and, where applicable, registration create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective.
Appears in 1 contract
Validity, effectiveness and ranking 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 andcreate, where applicable, registration create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective.
Appears in 1 contract
Samples: Assignment Agreement (Euroseas Ltd.)
Validity, effectiveness and ranking 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 create the Security it purports to β β create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective.
Appears in 1 contract
Validity, effectiveness and ranking 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 as provided for in that Finance Document create the Security it purports to create over any assets to which such Security, by its terms, relates, and such Security will, when created or intended to be created, be valid and effective.
Appears in 1 contract
