Examples of TBS Worldwide in a sentence
The Owner, the Bareboat Charterer, Pacific Rim and TBS Worldwide each hereby waives the entitlement conferred by section 93 of the Law of Property Xxx 0000 and agrees that section 103 of that Act shall not apply to the security created by this Deed.
The Owner, the Bareboat Charterer, Pacific Rim and TBS Worldwide each shall comply with the following provisions of this Clause 9 at all times during the Security Period (or, where applicable, the Charter Period) except as the Lender may otherwise permit.
The Lender may, for the purpose of claiming or proving in a bankruptcy of the Owner, the Bareboat Charterer, Pacific Rim, TBS Worldwide or any other Security Party, place any sum received or recovered under or by virtue of this Deed or any Security Interest connected with it on a separate suspense or other interest bearing nominal account without applying it in satisfaction of the Owner’s obligations under the Loan Agreement.
The Ship has been delivered to, and accepted by, TBS Worldwide and complies with all requirements of and relating to TBS Worldwide Time Charter.
TBS Worldwide is duly incorporated and validly existing and in good standing under the laws of the Xxxxxxxx Islands.
TBS Worldwide does not have its chief executive office in any part of the United States of America.
Each of the Owner, the Bareboat Charterer, Pacific Rim and TBS Worldwide shall not knowingly do or fail to do or knowingly cause or permit another person to do or omit to do anything which is liable to jeopardise the effectiveness or priority, in relation to any Assigned Property, of any Security Interest created by this Deed.
The Owner, the Bareboat Charterer, Pacific Rim and TBS Worldwide shall each comply with a notice under Clause 11.1 by the date specified in the notice.
Any settlement or discharge under this Deed between the Lender and any of the Owner, the Bareboat Charterer, Pacific Rim or TBS Worldwide shall be conditional upon no security or payment to the Lender by the Owner, the Bareboat Charterer, Pacific Rim or TBS Worldwide or any other person being set aside, adjusted or ordered to be repaid, whether under any insolvency law or otherwise.
Each of the Owner, the Bareboat Charterer, Pacific Rim and TBS Worldwide shall forthwith, upon receipt by it (or by any person acting on its behalf), pay over or transfer to the Lender (or as the Lender may direct) any moneys or other property which it (or any person acting on its behalf) may receive or recover in connection with any Assigned Contract to which it is a party and all property which may, directly or indirectly, represent, accrue on or be derived from any such moneys or property.