Examples of Permitted Maritime Liens in a sentence
Under the terms of said Preferred Ship Mortgage, neither the Mortgagor, any charterer, the master of this Vessel, nor any other person has any right, power or authority to create, incur or permit to be imposed upon this Vessel any Lien whatsoever other than Permitted Maritime Liens (as defined in such Preferred Ship Mortgage).
All debts, damages, liabilities and outgoings which have given, or may give, rise to maritime, statutory or possessory liens (other than Permitted Maritime Liens) on, or claims enforceable against a Ship, its Earnings or Insurances shall be promptly paid and discharged.
Except for Permitted Maritime Liens, Borrowers shall (i) promptly after becoming aware of the existence thereof, give Lender written notice of any Lien on the Collateral, (ii) promptly, at Borrowers' sole cost and expense, take such action as may be necessary to discharge any such Lien, and (iii) indemnify and hold Lender harmless from and against any loss or damage caused by any such Lien.
It shall not create, incur, assume or suffer to exist any Lien or other encumbrance upon the Vessel (other than Permitted Maritime Liens) or the other Collateral.
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