Common use of No Securities Clause in Contracts

No Securities. permit any Financial Indebtedness of the Borrower to any person (other than the Lender) to be guaranteed by any person (save, in the case of the Borrower, for guarantees or indemnities from time to time required in the ordinary course of business, the operation, maintenance and repair of the Vessel or by any protection and indemnity or war risks association with which the Vessel is entered, guarantees required to procure the release of the Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of the Vessel);

No Securities. permit any Financial Indebtedness of the Borrower to any person (other than the Lender) to be guaranteed by any person (save, in the case of the Borrower, for guarantees or indemnities from time to time required in the ordinary course of business, the operation, maintenance and repair of the Vessel or by any protection and indemnity or war risks association with which the its Vessel is entered, guarantees required to procure the release of the its Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of the its Vessel);

No Securities. permit any Financial Indebtedness of the Borrower to any person (other than the Lender) to be guaranteed by any person (save, in the case of the Borrower, save for guarantees or indemnities from time to time required in the ordinary course of business, the operation, maintenance and repair of the Vessel business or by any protection and indemnity or war risks association with which the Vessel is entered, guarantees required to procure the release of the Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of the Vessel);

No Securities. permit any Financial Indebtedness of the Borrower Borrowers (or any of them) to any person (other than the Lender) to be guaranteed by any person (save, in the case of the any Borrower, for guarantees or indemnities from time to time required in the ordinary course of business, the operation, maintenance and repair of the Vessel business or by any protection and indemnity or war risks association with which the its Vessel is entered, guarantees required to procure the release of the its Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of the its Vessel);

No Securities. permit any Financial Indebtedness of the Borrower to any person (other than the Lender) to be guaranteed by any person (save, in the case of the Borrower, for guarantees or indemnities from time to time required in the ordinary course of business, the operation, maintenance and repair of the Vessel or by any protection and indemnity or war risks association with which the Vessel is entered, guarantees required to procure the release of the Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of the Vessel);