Common use of Barges Clause in Contracts

Barges. The Grantor will not do, or suffer or permit to be done, anything that will impair the lien of the Secured Parties against the Barges. Grantor will not document any collateral as a vessel under the flag of the United States of America without the written consent of the Required Lenders. Grantor will not operate any Barge outside the navigational limits of the insurance policy or outside the State of New York without receiving the written consent of the Administrative Agent, which consent shall not be unreasonably withheld, conditioned or delayed. [Astoria Agreement only.]

Barges. The Grantor will not do, or suffer or permit to be done, done anything that will impair the lien of the Secured Parties against the Barges. Grantor will not document any collateral as a vessel under the flag of the United States of America without the written consent of the Required Lenders. Grantor will not operate any Barge outside the navigational limits of the insurance policy or outside the State of New York without receiving the written consent of the Administrative Agent, which consent shall not be unreasonably withheld, conditioned or delayedRequired Lenders. [Astoria Agreement only.]