Consolidation, Merger or Sale. (a) Nothing in this Security Agreement or the Mortgage shall prevent any lawful consolidation or merger of the Shipowner with or into any other Person, or any sale of a Vessel or Vessels to any other Person lawfully entitled to acquire and operate such Vessel or Vessels, or any sale by the Shipowner of all or substantially all of its assets to any other Person; provided that, the Secretary shall have given its prior written consent to such succession, merger, consolidation or sale.
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Samples: Security Agreement (Ensco International Inc), Security Agreement (Chiles Offshore Inc/New/), Security Agreement (American Classic Voyages Co)
Consolidation, Merger or Sale. (a) Nothing in this Security Agreement or the Mortgage shall prevent any lawful consolidation or merger of the Shipowner with or into any other Person, or any sale of a the Vessel or Vessels to any other Person lawfully entitled to acquire and operate such Vessel or Vesselsthe Vessel, or any sale by the Shipowner of all or substantially all of its assets to any other Person; provided thatPROVIDED THAT, the Secretary shall have given its prior written consent to such succession, merger, consolidation or sale.
Appears in 2 contracts
Samples: Security Agreement (Pride International Inc), Security Agreement (Pride International Inc)
Consolidation, Merger or Sale. (a) Nothing in this Security Agreement or the Mortgage shall prevent any lawful consolidation or merger of the Shipowner with or into any other Person, or any sale of a Vessel or Vessels to any other Person lawfully entitled to acquire and operate such Vessel or Vessels, or any sale by the Shipowner of all or substantially all of its assets to any other Person; provided that, the Secretary Administrator shall have given its prior written consent to such succession, merger, consolidation or sale.
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Samples: www.maritime.dot.gov
Consolidation, Merger or Sale. (a) Nothing in this Security Agreement or the Mortgage shall prevent any lawful consolidation or merger of the Shipowner with or into any other Person, or any sale of a Vessel or Vessels to any other Person lawfully entitled to acquire and operate such Vessel or Vessels, or any sale by the Shipowner of all or substantially all of its assets to any other Person; provided thatPROVIDED THAT, the Secretary shall have given its prior written consent to such succession, merger, consolidation or sale.
Appears in 1 contract
Samples: Security Agreement (K-Sea Tranportation Partners Lp)
Consolidation, Merger or Sale. (a) Nothing in this Security Agreement or the Mortgage shall prevent any lawful consolidation or merger of the Shipowner with or into any other Person, or any sale of a Vessel or Vessels to any other Person lawfully entitled to acquire and operate such Vessel or Vessels, or any sale by the Shipowner of all or substantially all of its assets to any other Person; provided provide that, the Secretary shall have given its prior written consent to such succession, merger, consolidation or sale.
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