Challenge to registration Clause Samples

Challenge to registration if the registration of any Vessel or any Mortgage becomes void or voidable or liable to cancellation or termination; or

Challenge to registration. The registration of the Vessel or the Mortgage is contested or becomes void or voidable or liable to cancellation or termination, or the validity or priority of the Mortgage is contested. This Clause 23.1.18 shall not apply to any challenge or contest which is frivolous or vexatious and is discharged, stayed or dismissed within five days of commencement.

Challenge to registration. The registration of a Delivered Vessel or the Mortgage or the Collateral Mortgage is contested or becomes void or voidable or liable to cancellation or termination, or the validity or priority of the Mortgage or the Collateral Mortgage is contested. This Clause 23.1.18 shall not apply to any release of the Collateral Mortgage permitted by Clause 17.15 (Release of Collateral Security Documents).

Challenge to registration. The registration of a Vessel or a Mortgage is contested or becomes void or voidable or liable to cancellation or termination, or the validity or priority of a Mortgage is contested. No Event of Default under this Clause 15.1.16 will occur if any contesting of the Vessel or Mortgage ceases within ten (10) Business Days of its commencement or the voidability, or liability to cancellation or termination of the Mortgage is remedied within ten (10) Business Days of the date that such voidability or liability to cancellation or termination arose or if the registration of a Vessel or Mortgage becomes void and the relevant Borrower and the Security Agent have effected the re-registration of the Vessel and its Mortgage under another register acceptable to the Agent in its discretion and the Borrowers have provided the Agent with such equivalent additional documents and evidence mutatis mutandis to those specified at Part I, 1(a) to (h) inclusive, and Part I, 2 (a) to (f) (inclusive), (g), (h) and 3 (a) of Schedule 2 as the Agent may require in its discretion.

Challenge to registration. If the registration of any Collateral Vessel or any Original Fleet Mortgage (or replacement mortgage) becomes void or voidable or liable to cancellation or termination.

Challenge to registration. The registration of a Vessel or a Mortgage is cancelled or terminated without the prior written consent of the Agent.