Ship Mortgages definition

Ship Mortgages means the Original Closing Date Ship Mortgage, the ATB Ship Mortgage and any first preferred fleet mortgage in substantially the same form as the Original Closing Date Ship Mortgage.

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Ship Mortgages means all such instruments, collectively.

Ship Mortgages means all of such mortgages;

Examples of Ship Mortgages in a sentence

• In order to grant the Collateral Agent a Lien for the benefit of the Secured Parties in all Vessel Related Collateral to the fullest extent permitted by applicable law, the Borrower and the Subsidiary Loan Parties have agreed to grant Liens and security interests in the Vessel Related Collateral to the Collateral Agent for the benefit of the Secured Parties under various types of Security Documents, including the Mortgages, the Collateral Agreement and the Ship Mortgages, notwithstanding such uncertainty.

• Unless waived by the Collateral Agent, with respect to each such Additional Ship Mortgage, the Borrower shall deliver to the Collateral Agent contemporaneously therewith vessel and, alternatively, UCC title insurance policies and otherwise comply with the Collateral Requirements applicable to Ship Mortgages and Mortgaged Vessels.

• This Agreement and each of the other Loan Documents, other than the Ship Mortgages, shall be governed by and construed in accordance with the laws of the State of New York and the applicable laws of the United States of America.

• 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.

• The Borrower, the Administrative Agent, the Lenders and the other parties thereto have executed and delivered the Credit Agreement and the other Loan Documents; the Lenders have made Advances to the Borrower; and to secure the Obligations of the Loan Parties under the Credit Agreement and the other Loan Documents, the Collateral Documents have been executed and delivered and the Ship Mortgages have been duly recorded in the relevant ship registries in accordance with applicable law.

More Definitions of Ship Mortgages

Ship Mortgages means, collectively, those certain Preferred Ship Mortgages relating to ferryboats owned by either El Con Mortgage Borrower or Ferryboat Affiliate as more particularly described on Schedule 1.7 hereto.

Ship Mortgages means collectively and “Ship Mortgage” shall mean separately all ship mortgages or any ship mortgage, in a form acceptable to the Administrative Agent, with respect to vessels registered by the Loan Parties with the U.S. Coast Guard, executed and delivered by certain of the Loan Parties to the Collateral Trustee for the benefit of the Secured Parties.

Ship Mortgages means both of, and “Ship Mortgage” means each of, the First Preferred Fleet Mortgages and the Second Preferred Fleet Mortgages.

Ship Mortgages means, collectively, the Rapallo Ship Mortgage and the Additional Collateral Vessel Ship Mortgages.

Ship Mortgages means, collectively, (i) the First Preferred Fleet Mortgage of even date herewith, as amended, restated, supplemented, replaced (including in accordance with Section 4.3(c)) or otherwise modified from time to time, executed and delivered by the Borrower and any other applicable Credit Party in favor of the Administrative Agent, for the benefit of the Secured Parties, granting, upon the occurrence of a Perfection Trigger Event, a first priority lien on and security interest in certain United States flag vessels, (ii) the First Preferred Fleet Mortgage of even date herewith, as amended, restated, supplemented, replaced (including in accordance with Section 4.3(c)) or otherwise modified from time to time, executed and delivered by the Borrower and any other applicable Credit Party in favor of the Administrative Agent, for the benefit of the Secured Parties, granting, upon the occurrence of a Perfection Trigger Event, a first priority lien on and security interest in certain Republic of the Marshall Islands flag vessels and (iii) any other first preferred fleet or ship mortgages hereafter executed and delivered by any Credit Party in favor of the Administrative Agent, for the benefit of the Lender Secured Parties, in each case, in substantially the form attached as Exhibit I or any other form reasonably acceptable to the Administrative Agent.

Ship Mortgages means the preferred ship mortgages of even date herewith covering the Delta Queen and the Mississippi Queen, executed by the Borrower or the Subsidiary of the Borrower, as applicable, in favor of the Agent as trustee for the benefit of itself and the Holders of Secured Obligations, as the same may be amended, supplemented or otherwise modified from time to time.

Ship Mortgages means, collectively, the statutory mortgages and collateral deeds of covenant and the first naval mortgages over the Vessels, each duly registered in the Bahamian or Panamanian Ship registry, respectively, in favor of the Pari Passu Collateral Agent, as the same may be amended, supplemented or modified from time to time, in form and substance reasonably acceptable to the Administrative Agent.