Common use of Compliance with mortgagee’s instructions Clause in Contracts

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the 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 12.19.

Appears in 9 contracts

Samples: Agreement (NewLead Holdings Ltd.), Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Box Ships Inc.)

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Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Borrower Owner implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.19.

Appears in 7 contracts

Samples: Loan Agreement, Agreement (Star Bulk Carriers Corp.), Loan Agreement (Box Ships Inc.)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the a Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Borrower relevant Owner implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.1912.18 and the Borrower shall procure that the Owners comply with such requirement within a reasonable period or time in the context of the then prevailing circumstances.

Appears in 3 contracts

Samples: Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp), Loan Agreement (Danaos Corp)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the a Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Borrower relevant Owner implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.19.

Appears in 3 contracts

Samples: Loan Agreement (Paragon Shipping Inc.), Loan Agreement (Box Ships Inc.), Loan Agreement (StealthGas Inc.)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Borrower Owner implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.1912.18 and the Borrower shall procure that the Owner complies with any such requirement.

Appears in 2 contracts

Samples: Loan Agreement (Tsakos Energy Navigation LTD), Loan Agreement (Tsakos Energy Navigation LTD)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the either Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Borrower which is the owner of that Ship implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.19.

Appears in 2 contracts

Samples: Loan Agreement (Oceanfreight Inc.), Loan Agreement (DryShips Inc.)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the any Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Borrower which is the owner of that Ship implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.19.

Appears in 2 contracts

Samples: Loan Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the any Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Borrower Owner of that Ship implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.19.

Appears in 2 contracts

Samples: Loan Agreement (Star Bulk Carriers Corp.), Loan Agreement (DryShips Inc.)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the a Mortgaged Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Borrower Owner of that Ship implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.1911.19.

Appears in 2 contracts

Samples: Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Borrower Owner implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.1913.18.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the any Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Borrower which is the owner of such Ship implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.19.

Appears in 1 contract

Samples: Agreement (Diana Shipping Inc.)

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Compliance with mortgagee’s instructions. The Lender Lenders shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender Lenders until the Borrower Owner implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.1913.18 and the Borrower shall procure that the Owner complies with any such requirement.

Appears in 1 contract

Samples: Loan Agreement (Tsakos Energy Navigation LTD)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the any Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Owner of Borrower owning that Ship implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.19.

Appears in 1 contract

Samples: Agreement (DryShips Inc.)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Borrower relevant Owner implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.19.

Appears in 1 contract

Samples: Agreement (Star Bulk Carriers Corp.)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the a Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Borrower owing that Ship, implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.1912.17.

Appears in 1 contract

Samples: Loan Agreement (EuroDry Ltd.)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the Financed Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the 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 12.19.

Appears in 1 contract

Samples: Loan Agreement (Euroseas Ltd.)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the either Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the Borrower Owner of that Ship implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 12.19.

Appears in 1 contract

Samples: Loan Agreement (DryShips Inc.)

Compliance with mortgagee’s instructions. The Lender shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require the a Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Lender until the relevant 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 12.1913.19.

Appears in 1 contract

Samples: Loan Agreement (Pyxis Tankers Inc.)

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