Examples of Deed of Covenants in a sentence
The Collateral Agent shall be entitled, at any time and as often as may be expedient, to delegate all or any of the powers and discretions vested in it by this Deed, the Credit Agreement, the Mortgage (including the power vested in it by clause 13 of the Deed of Covenants) or any of the other Security Documents in such manner, upon such terms, and to such persons as the Collateral Agent in its absolute discretion may think fit.
Section 1.1 For purposes of this Deed of Covenants, the following terms shall have the respective meanings given to them below.
Within ninety (90) days following the Closing Date, (i) a Bahamian Statutory Mortgage in favor of the Collateral Agent, (ii) a transcript of register evidencing the recording of the Bahamian Statutory Mortgage, (iii) a Bahamian Deed of Covenants in favor of the Collateral Agent, (iv) a letter to the master of such vessel, enclosing a copy of the Mortgage, (v) an Assignment of Earnings and Charterparties in favor of the Collateral Agent and (vi) an Assignment of Insurances in favor of the Collateral Agent.
The relevant Mortgage, the relevant Deed of Covenants and the relevant General Assignment and all ancillary documents to be delivered pursuant thereto, each duly executed by the relevant Borrower.
In the event of any assignment of the Mortgage or this Deed of Covenants by the Mortgagee in accordance with the applicable provisions of the Third Lien Indenture, any other Third Lien Note Documents and the Third Lien Intercreditor Agreement, as applicable, the term “Mortgagee” as used in this Deed of Covenants shall be deemed to mean any such successor or permitted assignee.