VALUATION OF SHIPS AND LINKSPANS. The value of each Mortgaged Ship shall be determined as being the mortgage free value thereof after deduction of the aggregate amount of any mortgage debt secured thereon in favour of any creditor other than the Security Agent and, in the case of m.
Appears in 2 contracts
Samples: Facility Agreement (Stena Ab), Facility Agreement (Stena Ab)
VALUATION OF SHIPS AND LINKSPANS. The value of each Mortgaged Ship shall be determined as being the mortgage free value thereof after deduction of the aggregate amount of any mortgage debt secured thereon in favour of any creditor other than the Security Agent and, in the case of m.m.v.'
Appears in 2 contracts
Samples: Loan Agreement (Stena Ab), Loan Agreement (Stena Ab)
