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.
Notwithstanding that the right to fly the Flag of the Republic shall have been withdrawn during the period of bareboat charter registration in the foreign State, in the event that the vessel remains subject to one or more Preferred Ship Mortgages recorded under this Title, such mortgage shall, unless satisfied, released or discharged of record, remain in full force and effect and be governed solely and exclusively by the laws of the Republic of the Marshall Islands.
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 Administrative Agent shall have received evidence of recording of the First Preferred Ship Mortgages with the U.S. Coast Guard National Vessel Documentation Center.
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.
The Company shall have the right, from time to time, without any release from or consent by or notice to the Trustee, (a) to sell or otherwise dispose of and to permit any sale or other disposition of, free from the Lien of this Indenture and the First Preferred Ship Mortgages, any Incidental Asset and any investment, security or instrument (other than Capital Stock of a Guarantor) pursuant to Section 4.09(c).
For the second session, questions such as how to determine what type of assistance was appropriate for a particular country, were relevant.
As set forth in the Final DIP Order, such Second Preferred Ship Mortgages and any other Perfection Documents shall be deemed for all purposes and all priorities of the Chapter 11 Cases and, to the extent permitted in the applicable foreign jurisdictions, to have been obtained, entered into, given, recorded, or filed, as of June 20, 2013.
Despite Plaintiff’s averment that it still “heavily dispute[s] the validity of the two Preferred Ship Mortgages [and] entitlement to the subject funds” in the Court’s Registry, neither Party denied that the Librati PSM was extinguished on July 1, 2021.
This Contract, including Parts I and II of this Contract, contains the entire agreement between the parties with respect to the subject matter hereof and all prior or contemporaneous agreements or understandings whether written or oral are merged into this Contract.