Arrest. Any Ship is arrested, confiscated, seized, taken in execution, impounded, forfeited, detained in exercise or purported exercise of any possessory lien or other claim or otherwise taken from the possession of the owner of such Ship and the owner of such Ship shall fail to procure the release of such Ship within a period of ten Business Days thereafter.
Appears in 3 contracts
Sources: Facilities Agreement (International Shipping Enterprises, Inc.), Facilities Agreement (Navios Maritime Holdings Inc.), Facilities Agreement (International Shipping Enterprises, Inc.)
Arrest. Any any Ship is arrested, confiscated, seized, taken in execution, impounded, forfeited, detained in exercise or purported exercise of any possessory lien or other claim or otherwise taken from the possession of the owner of such Ship relevant Borrower and the owner of such Ship relevant Borrower shall fail to procure the release of such Ship within a period of ten Business fourteen (14) Banking Days thereafter.; or
Appears in 3 contracts
Sources: Loan Agreement (Seanergy Maritime Holdings Corp.), Loan Agreement (Seanergy Maritime Holdings Corp.), Second Supplemental Agreement (Seanergy Maritime Holdings Corp.)