Covenants Concerning the Vessels. It is hereby undertaken by the Borrowers that, from the date of this Agreement and as long as any money is due and/or owing and/or outstanding under this Agreement, the Master Agreement or any of the other Security Documents, the Borrowers will:
Covenants Concerning the Vessels. 11.07.01.(No Change in Contracts) ensure that each Vessel is constructed in accordance with the terms and specifications of the respective Contract and with the highest standards and rules of a classification society acceptable to the Bank for vessels of the type and specifications of such Vessel, that none of the Contracts will be amended without the Bank's prior consent, and provide the Bank on demand with copies of all documents and evidence in connection with the construction of each Vessel;
Covenants Concerning the Vessels. (a) Title to and Possession of the Vessels. On the date of this Security Agreement, the Shipowner represents and warrants that it lawfully owns each Vessel free from any liens, encumbrances, security interests, charges, or rights in rem (subject only to (1) the equity of the Shipyard under the Construction Contract, if any, (2) liens on any undelivered Vessel which the Shipyard is obligated to discharge under the Construction Contract, (3) any security interest subordinated to the Administrator’s security interest permitted under the Special Provisions hereof, (4) the Administrator’s rights hereunder and (5) the liens permitted by paragraph (d)(3) of this Section). The Shipowner shall, for the Administrator's benefit, warrant and defend the title to, and possession of, each Vessel and every part thereof against the claims and demands of all Persons whomsoever.
Covenants Concerning the Vessels. Each of the Borrowers hereby further undertakes and agrees with the Lenders that it will:
Covenants Concerning the Vessels. The Borrower hereby further undertakes and agrees with the Bank that it will:
Covenants Concerning the Vessels. (a) Title to and Possession of the Vessels 4 (b) Sale, Mortgage, Transfer or Charter of Vessels 4 (c) Taxes and Governmental Charges 4 (d) Liens 4 (e) Compliance with Applicable Laws 5 (f) Vessels' Operation 5 (g) Vessels' Condition and Maintenance 5
Covenants Concerning the Vessels. (A) OWNERSHIP/MANAGEMENT/CONTROL ensure that each of the Vessels will maintain her present ownership, management, control and beneficial ownership;
Covenants Concerning the Vessels
