XXXX's Maritime Sample Clauses

XXXX's Maritime. Lien against the Vessel for Necessaries. The Commercial Instruments and Maritime Liens Act, Title 46 U.S.C. § 31301 et. seq. (the “Act”), provides XXXX a preferred maritime lien against the vessel, including its engines, tenders, personal watercraft, furniture, furnishings, fishing tackle and appurtenances for work, services and/or supplies (i.e. “necessaries”) provided to the vessel. Under the federal maritime law, XXXX's preferred maritime lien exists the moment this Agreement is signed. CRBY has the statutory right to sue the vessel in rem to foreclose its preferred maritime lien. The in rem suit shall be filed in the federal district court that has jurisdiction over the area where the vessel is physically located. The Act also allows CRBY to sue the Owner to recover the amount due for necessaries provided to the vessel. The Parties agree that XXXX is entitled to recover all of its court costs, including custodia legis expenses, from the vessel in rem and/or the Owner in personam if CRBY recovers a minimum of $1.00 on its claim. As a prevailing party, CRBY shall also be entitled to recover its reasonable attorneys’ fees and litigation expenses from the vessel under a Supplemental Admiralty Rule B attachment. The terms of this paragraph are governed by the Commercial Instruments and Maritime Liens Act, Title 46 U.S.C. § 31301 et. seq, and federal maritime law. INITIAL
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