Common use of Compliance with Instructions Clause in Contracts

Compliance with Instructions. The Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require a Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee until the relevant Security Party implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18.

Appears in 11 contracts

Samples: Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Scorpio Tankers Inc.), Loan Agreement (Eagle Bulk Shipping Inc.)

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Compliance with Instructions. The Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require a Ship Collateral Vessel to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee until the relevant Security Party Guarantor implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18.

Appears in 2 contracts

Samples: Credit Agreement (Scorpio Bulkers Inc.), Credit Agreement (Scorpio Bulkers Inc.)

Compliance with Instructions. The Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require a the Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee until the relevant Security Party Corporate Guarantor implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.1813.19.

Appears in 2 contracts

Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Paragon Shipping Inc.)

Compliance with Instructions. The Upon notice to the Borrowers, the Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Transaction Document) to require a Ship any Mortgaged Vessel to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee IFC until the relevant Security Party implements Borrowers implement any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18Section 5.05 (n) (Modification of Insurance Covenants).

Appears in 2 contracts

Samples: Loan Agreement (Ultrapetrol Bahamas LTD), Loan Agreement (Ultrapetrol Bahamas LTD)

Compliance with Instructions. The Upon notice to the Borrower, the Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Transaction Document) to require a Ship any Mortgaged Vessel to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee IFC until the relevant Security Party Borrower implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18Section 5.05 (n) (Modification of Insurance Covenants).

Appears in 1 contract

Samples: Loan Agreement (Ultrapetrol Bahamas LTD)

Compliance with Instructions. The Security Trustee shall be entitled but will not be bound to (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require a effect the insurances of the Ship in the amount and in terms acceptable to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee until from time to time at the relevant cost and on behalf of the Borrower and/ to the extent applicable or any other Security Party implements any amendments to or other entity in all cases if named as co-assured in the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18insurance policies.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Compliance with Instructions. The Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require a any Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee Facility Agent until the relevant Security Party implements Obligors implement any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.1811.18.

Appears in 1 contract

Samples: Loan Agreement (Ultrapetrol Bahamas LTD)

Compliance with Instructions. The Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require a Ship Vessel to remain at any safe port 80 ‌ or to proceed to and remain at any safe port designated by the Security Trustee until the relevant Security Party implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18.

Appears in 1 contract

Samples: Loan Agreement (Dorian LPG Ltd.)

Compliance with Instructions. The Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require a Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee until the relevant Security Party Borrower implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

Compliance with Instructions. The Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require a the Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee until the relevant Security Party Borrower implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18.

Appears in 1 contract

Samples: Loan Agreement (Scorpio Tankers Inc.)

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Compliance with Instructions. The Upon notice to the Borrowers, the Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Transaction Document) to require a Ship any Mortgaged Vessel to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee OFID until the relevant Security Party implements Borrowers implement any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18Section 5.05 (n) (Modification of Insurance Covenants).

Appears in 1 contract

Samples: Loan Agreement (Ultrapetrol Bahamas LTD)

Compliance with Instructions. The Security Trustee shall be entitled but will not be bound to (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require a Ship effect the insurances of the Ships in the amount and in terms acceptable to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee until from time to time at the relevant cost and on behalf of the Borrowers and/ to the extent applicable or any other Security Party implements any amendments to or other entity in all cases if named as co-assured in the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18insurance policies.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Compliance with Instructions. The Security Trustee shall be entitled but will not be bound to (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require effect the insurances of a Ship in the amount and in terms acceptable to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee until from time to time at the relevant Security Party implements any amendments to the terms cost and on behalf of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18Borrowers.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Compliance with Instructions. The Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require a Ship Vessel to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee until the relevant Security Party implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18.

Appears in 1 contract

Samples: Loan Agreement (Dorian LPG Ltd.)

Compliance with Instructions. The Upon notice to the Borrower, the Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Transaction Document) to require a Ship any Mortgaged Vessel to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee OFID until the relevant Security Party Borrower implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18Section 5.05 (n).

Appears in 1 contract

Samples: Loan Agreement (Ultrapetrol Bahamas LTD)

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