Common use of Vessel Acquisition Agreements Clause in Contracts

Vessel Acquisition Agreements. (a) On or prior to the Amendment and Restatement Effective Date, the Administrative Agent shall have received copies of the material documentation in existence on the date of this Agreement for the acquisition of each Collateral Vessel (such contracts and agreements listed on Schedule XVI hereto, the “Vessel Acquisition Agreements”), and all shall be in full force and effect. (b) On or prior to the Amendment and Restatement Effective Date, the Borrower shall have (x) duly authorized, executed and delivered the Vessel Acquisition Agreements Assignment in the form of Exhibit N hereto (as modified, supplemented or amended from time to time, the “Vessel Acquisition Agreements Assignment”) (it being understood that such assignments shall become effective only when the requisite consents thereto shall have become effective), (y) taken all actions necessary or advisable to perfect the Lien on the collateral described therein and (z) used its commercially reasonable efforts to obtain and deliver the consents substantially in the form of Exhibit A to Exhibit N (as modified, supplemented or amended from time to time, each a “Consent to Assignment of Vessel Acquisition Agreements”) required for the assignment of each of the Vessel Acquisition Agreements to the Collateral Agent pursuant to an Assignment of the Vessel Acquisition Agreements. (c) If at any time prior to or after the Amendment and Restatement Effective Date the Borrower obtains a Refund Guarantee with respect to any Vessel Acquisition Agreement, the Borrower shall (x) duly authorize, execute and deliver a Refund Guarantee Assignment substantially in the form of Exhibit O hereto (as modified, supplemented or amended from time to time, the “Refund Guarantee Assignment”) (it being understood that such assignments shall becomes effective only when the requisite consents thereto shall have become effective), (y) take all actions necessary or advisable to perfect the Lien on the collateral described therein and (z) use its commercially reasonable efforts to obtain and deliver all necessary consents required for the assignment of each Refund Guarantee to the Collateral Agent.

Vessel Acquisition Agreements. (a) On or prior to the Amendment and Restatement Effective Initial Borrowing Date, the Administrative Agent shall have received copies of the material documentation in existence on the date of this Agreement for the acquisition of each Collateral Trico Subsea AS Vessel (such contracts and agreements listed on Schedule XVI IV hereto, the “Vessel Acquisition Agreements”), and all shall be in full force and effect. (b) On or prior to the Amendment and Restatement Effective Initial Borrowing Date, the Borrower shall have (x) duly authorized, executed and delivered the Vessel Acquisition Agreements Assignment in the form of Exhibit N J hereto (as modified, supplemented or amended from time to time, the “Vessel Acquisition Agreements Assignment”) (it being understood that such assignments shall become effective only when the requisite consents thereto shall have become effective), (y) taken all actions necessary or advisable to perfect the Lien on the collateral described therein and (z) used its commercially reasonable efforts to obtain obtained and deliver delivered the consents substantially in the form of Exhibit A to Exhibit N J (as modified, supplemented or amended from time to time, each a “Consent to Assignment of Vessel Acquisition Agreements”) required for the assignment of each of the Vessel Acquisition Agreements to the Collateral Agent pursuant to an Assignment of the Vessel Acquisition Agreements. (c) If at any time prior to or after On the Amendment and Restatement Effective Date the Borrower obtains a Refund Guarantee with respect to any Vessel Acquisition AgreementInitial Borrowing Date, the Borrower each Credit Party shall have (x) duly authorizeauthorized, execute executed and deliver a delivered the Refund Guarantee Assignment substantially in the form of Exhibit O F hereto (as modified, supplemented or amended from time to time, the “Refund Guarantee AssignmentAssignments”) (it being understood that such assignments shall becomes effective only when the requisite consents thereto shall have become effective), (y) take all actions necessary or advisable to perfect the Lien on the collateral described therein and (z) use its commercially reasonable efforts to obtain obtained and deliver delivered all necessary consents required for the assignment of each Refund Guarantee to the Collateral Agent.

Vessel Acquisition Agreements. (a) On or prior to the Amendment and Restatement Effective Date, the Administrative Agent shall have received copies of the material documentation in existence on the date of this Agreement for the acquisition of each Collateral Vessel the Construction Vessels (such contracts and agreements listed on Schedule XVI IV hereto, the “Vessel Acquisition Agreements”), and all shall be in full force and effect. (b) On or prior to the Amendment and Restatement Effective Date, the Borrower Trico Subsea shall have (xi) duly authorized, executed and delivered the Amended and Restated Vessel Acquisition Agreements Assignment substantially in the form of Exhibit N J hereto (as modified, supplemented or amended from time to time, the “Vessel Acquisition Agreements Assignment”) (it being understood that such assignments shall become effective only when the requisite consents thereto shall have become effective), (yii) taken all actions necessary or advisable to perfect the Lien on the collateral described therein and (ziii) used its commercially reasonable efforts to obtain and deliver the consents substantially in the form of Exhibit A to Exhibit N J hereto (as modified, supplemented or amended from time to time, each a “Consent to Assignment of Vessel Acquisition AgreementsAgreements Assignment”) required for the assignment of each of the Vessel Acquisition Agreements to the Collateral Agent pursuant to an Assignment of the a Vessel Acquisition AgreementsAgreements Assignment. (c) If at any time prior to or after On the Amendment and Restatement Effective Date the Borrower obtains a Refund Guarantee with respect to any Vessel Acquisition AgreementDate, the Borrower Trico Subsea shall have (x) duly authorizeauthorized, execute executed and deliver a delivered the Amended and Restated Refund Guarantee Assignment substantially in the form of Exhibit O E hereto (as modified, supplemented or amended from time to time, the “Refund Guarantee AssignmentAssignments”) (it being understood that such assignments shall becomes become effective only when the requisite consents thereto shall have become effective), (y) take all actions necessary or advisable to perfect the Lien on the collateral described therein and (z) use its commercially reasonable efforts subject to obtain Section 13.24, obtained and deliver delivered all necessary consents required for the assignment of each Refund Guarantee to the Collateral Agent.

Vessel Acquisition Agreements. (a) On or prior to the Amendment and Restatement Effective Initial Borrowing Date, the Administrative Agent shall have received copies of the material documentation in existence on the date of this Agreement for the acquisition of each Collateral Vessel Sapphire (such contracts and agreements listed on Schedule XVI IV hereto, the “Vessel Acquisition Agreements”), and all shall be in full force and effect. (b) On or prior to the Amendment and Restatement Effective Initial Borrowing Date, the Borrower shall have (x) duly authorized, executed and delivered the Vessel Acquisition Agreements Assignment substantially in the form of Exhibit N J hereto (as modified, supplemented or amended from time to time, the “Vessel Acquisition Agreements Assignment”) (it being understood that such assignments shall become effective only when the requisite consents thereto shall have become effective), (y) taken all actions necessary or advisable to perfect the Lien on the collateral described therein and (z) used its commercially reasonable efforts to obtain and deliver the consents substantially in the form of Exhibit A to Exhibit N J (as modified, supplemented or amended from time to time, each a “Consent to Assignment of Vessel Acquisition Agreements”) required for the assignment of each of the Vessel Acquisition Agreements to the Collateral Agent pursuant to an Assignment of the Vessel Acquisition Agreements. (c) If at any time prior to or after On the Amendment and Restatement Effective Date the Borrower obtains a Refund Guarantee with respect to any Vessel Acquisition AgreementInitial Borrowing Date, the Borrower shall have (x) duly authorizeauthorized, execute executed and deliver a delivered the Refund Guarantee Assignment substantially in the form of Exhibit O F hereto (as modified, supplemented or amended from time to time, the “Refund Guarantee AssignmentAssignments”) (it being understood that such assignments shall becomes effective only when the requisite consents thereto shall have become effective), (y) take all actions necessary or advisable to perfect the Lien on the collateral described therein and (z) use used its commercially reasonable efforts to obtain and deliver all necessary consents required for the assignment of each Refund Guarantee to the Collateral Agent.