Preferred Ship Mortgages definition

Preferred Ship Mortgages means (a) that certain First Preferred Fleet Mortgage dated as of November 12, 1996, executed by Borrower, as owner and mortgagor, to and in favor of BANK ONE, TEXAS, N.A., as mortgagee, which creates a Lien on certain of the Drilling Rigs as security for the Obligations, and any and all amendments, modifications, and supplements, renewals, extensions, or restatements thereof, and (b) and any other mortgage or other security agreement which creates a Lien on any Drilling Rig as security for the Obligations.
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Preferred Ship Mortgages means (i) the preferred ship mortgage on the Tunica Vessel, dated as of the Issue Date, by and between Barden Mississippi Gaming, LLC and the Trustee, and (ii) the preferred ship mortgage on The Majestic Star Casino Vessel, dated as of the Issue Date, by and between the Company and the Trustee.
Sample 1
Preferred Ship Mortgages each of the amended and restated preferred ship mortgages made by any Loan Party in favor of the Administrative Agent for the benefit of the Secured Parties, as described in Schedule 1.1(b), which preferred ship mortgages shall be substantially in the form of Exhibit D, as the same may be further supplemented, modified, amended, extended or supplanted from time to time.
Sample 1

Examples of Preferred Ship Mortgages in a sentence

  • The Borrower lawfully owns and is lawfully possessed of the whole of the Vessel free from any lien whatsoever except the lien of this Mortgage, and liens expressly permitted herein and other Preferred Ship Mortgages in favor of the Government, and covenants that it will warrant and defend the title and possession thereto and every part thereof for the benefit of the Government against the claims and demands of all persons whomever.

  • All written and oral communications shall be through the BPU Contract Manager.

  • Each Collateral Document, including the First Preferred Ship Mortgages and Assignment of Insurances, creates in favor of the Administrative Agent or the Mortgage Trust on behalf of the Secured Parties a Lien that has attached in the Collateral secured thereby.

  • Consent of mortgagee.In the event that the vessel is subject to one or more Preferred Ship Mortgages of the Republic, the written consent of each mortgagee to the foreign bareboat charter registration shall be duly filed prior to issuance of a Certificate of Permission under Section 272 of this Chapter.

  • The foregoing shall be deemed to include the authorization of the Administrative Agent to direct the Mortgage Trustee to take such actions pursuant to the First Preferred Ship Mortgages and the Assignments of Insurances.

  • The Commitment also contemplates the issuance of promissory notes by the Payor (the "Notes") which will be secured by a Deed of Trust and Security Agreement, an Assignment of Lease, a Collateral Mortgage and Assignment of Leases, Preferred Ship Mortgages, and UCC Security Interests (the "Loan Documents"), from the Payor to the Government to be executed and delivered by the Payor to the Government.

  • On January 26, 2010, Branch Banking filed a Verified Complaint against Pair A Dice, in rem, and Marshall, in personam, to: (i) foreclose Preferred Ship Mortgages; (ii) enforce a maritime lien for necessaries under 46 U.S.C. §§ 31301, et seq.; and (iii) recover damages for breach of contract.

  • The execution and delivery of this Waiver and Agreement and the performance thereof and the performance of the Indenture as amended by the Third Supplement, will not affect the validity, perfection, enforceability or priority of the Remaining First Preferred Ship Mortgages.

  • The payment and performance of the Note and all of the other Obligations hereunder and under the Loan Documents shall be secured by a first and superior Lien (subject only to Permitted Liens) against all of the assets (other than Excluded Property) of each Subsidiary other than Inactive Subsidiaries pursuant to the terms of one or more Security Agreements, Mortgages, First Preferred Ship Mortgages, Assignments of Insurances, Aircraft Security Agreements, and other appropriate Collateral Documents.

  • The Partnership Guaranty Agreement and the Notes are also currently secured by separate First Preferred Ship Mortgages from the Partnership, as owner and mortgagor, to the Trustee, as mortgagee, on 25 barges and 19 tugboats (collectively, referred to as "Vessels").


More Definitions of Preferred Ship Mortgages

Preferred Ship Mortgages shall have the meaning ascribed thereto in Section 3.09(a).
Sample 1
Preferred Ship Mortgages means the Preferred Ship Mortgages referred to on Schedule 1.1E, as amended and restated on the Closing Date to be substantially in the form of Exhibit J, and each additional preferred ship mortgage hereafter delivered to the Administrative Agent pursuant to Section 5.10.
Sample 1
Preferred Ship Mortgages means the First Preferred Ship Mortgage on each barge comprising the Casino Vessel to be executed by Premier in favor of the Trustee for the benefit of the Holders of the Notes pursuant to Section 4.24 hereof each in the form attached hereto as EXHIBIT K, or as amended from to time in accordance with Article 9 hereof.
Sample 1
Preferred Ship Mortgages the preferred ship mortgages referred to on Schedule 1.1(c), substantially in the form of Exhibit H, as may be supplemented, modified, amended extended or supplanted from time to time.
Sample 1
Preferred Ship Mortgages. (i) each of the preferred ship mortgages made by any Loan Party in favor of the Administrative Agent for the benefit of the Secured Parties, which preferred ship mortgages shall be amended as of the date hereof by an amendment substantially in the form of Exhibit H-1, as the same may be further supplemented, modified, amended, extended or supplanted from time to time, and (ii) each of the preferred ship mortgages made by a Loan Party in favor of the Administrative Agent for the benefit of the Secured Parties, which preferred ship mortgages shall be substantially in the form of Exhibit H-2, as the same may be further supplemented, modified, amended, extended or supplanted from time to time.
Sample 1

Related to Preferred Ship Mortgages

  • Ship Mortgage means a Ship Mortgage or Additional Ship Mortgage substantially in the form of Exhibit E-2 to the 2008 Credit Agreement (with such changes as are reasonably consented to by the Collateral Agent to account for local law matters) made by the applicable Loan Party in favor of Collateral Agent for the benefit of the Secured Parties, as the same may be amended, supplemented or otherwise modified from time to time, together with an Earnings Assignment and an Insurance Assignment made by the applicable Loan Party for each Mortgaged Vessel, and such other agreements reasonably acceptable to Collateral Agent as shall be necessary to comply with applicable requirements of law and effective to grant in favor of Collateral Agent for the benefit of the Secured Parties a first preferred mortgage within the meaning of the Ship Mortgage Act on the Mortgaged Vessel covered thereby, subject only to Permitted Liens.

  • Existing Mortgages means any mortgage, deed of trust or deed delivered pursuant to the Existing Credit Agreement including any amendments, modifications, restatements or assignments thereof.

  • Mortgage Addendum means the addendum to the Mortgage in the agreed form.

  • Guarantor Security Agreement means any security agreement executed by any Guarantor in favor of Agent securing the Obligations or the Guaranty of such Guarantor, in form and substance satisfactory to Agent.

  • Aircraft Mortgage means each Aircraft and Engine mortgage and security agreement entered into by any Borrower in favor of the Agent evidencing the Liens in respect of such Aircraft Collateral that will secure the Obligations, in each case as amended, modified, restated, supplemented or replaced from time to time.

  • First Mortgage Indenture means a first mortgage indenture pursuant to which any Borrower or any Subsidiary of any Borrower may issue bonds, notes or similar instruments secured by a lien on all or substantially all of such Borrower’s or such Subsidiary’s fixed assets, as the case may be.

  • First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage.

  • Mortgage Amendment means an amendment to an Existing Mortgage or an amendment and restatement of an Existing Mortgage, in each case in form and substance reasonably acceptable to the Collateral Agent.

  • Preferred ’ means any of the above securities that are publicly traded on a recognized securities exchange and the securities have a rating of ‘‘A’’ or above. If the securities are not ‘‘Preferred,’’ they are listed as ‘‘Other.’’

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Bareboat Charter means the bareboat charter agreement to be executed by the Effective Date by the Borrower as owner and the Charterer as bareboat charterer.

  • Senior Security Documents means with respect to any Senior Secured Party, the Security Documents that secure the Senior Obligations.

  • Charter Assignment means a specific assignment of any Extended Employment Contract required to be executed hereunder by either Owner in favour of the Bank (including any notices and/or acknowledgements and/or undertakings associated therewith) in such form as the Bank may require in its sole discretion;

  • First Mortgage Bonds means bonds issued by the Company pursuant to the Indenture.

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • Mortgage Instruments means such title reports, title insurance, opinions of counsel, surveys, appraisals and environmental reports as are requested by, and in form and substance reasonably acceptable to, the Administrative Agent from time to time.

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • Mortgage Amendments as defined in Section 6.11(a).

  • Borrower Security Agreement means the Security Agreement, dated as of the date hereof, between Borrower and the Agent.

  • Series C or "Series C Equipment Notes" means Equipment Notes issued and designated as "Series C" hereunder, in the Principal Amount and maturities and bearing interest as specified in Section 2.02 and Schedule I hereto under the heading "Series C."

  • Share Pledge Agreement has the meaning given such term in the definition of Collateral and Guaranty Requirements.

  • Mortgages means, individually and collectively, one or more mortgages, deeds of trust, or deeds to secure debt, executed and delivered by Borrower or its Subsidiaries in favor of Agent, in form and substance reasonably satisfactory to Agent, that encumber the Real Property Collateral.

  • Series A or “Series A Equipment Notes” means Equipment Notes issued and designated as “Series A Equipment Notes” under the Indenture, in the original principal amount and maturities as specified in Schedule I to the Indenture under the heading “Series A Equipment Notes” and bearing interest at the Debt Rate for Series A Equipment Notes specified in Schedule I to the Indenture.

  • Series Instrument means the series instrument of the Trust, pursuant to which the Administrative Services Agreement, the Coordination Agreement, the Name Licensing Agreement, the Support Agreement, the Terms Agreement and the Trust Agreement are entered into, and certain other documents are executed, in connection with the issuance of the Notes by the Trust.

  • Mortgage Indenture means the Mortgage and Deed of Trust, dated as of April 1, 1932, between SIGECO and Bankers Trust Company (as supplemented from time to time before or after the date hereof by various supplemental indentures thereto).