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

Compliance with mortgagee’s instructions. If the Borrowers have not complied with the requirements notified to them by the Agent pursuant to Clause 13.18 to the absolute satisfaction of the Agent within the 20-day period referred to in Clause 13.18, the Agent 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 Agent until the 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 13.18

Compliance with mortgagee’s instructions. If the Borrowers have Borrower has not complied with the requirements notified to them by the Agent pursuant to Clause 13.18 0 to the absolute satisfaction of the Agent Agent, acting reasonably, within 10 days of the 20-day period referred to in Clause 13.18Agent’s notice, the Agent 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 Agent until the Borrowers implement 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 13.180.