Common use of DRYDOCK Clause in Contracts

DRYDOCK. On or before March 30, 2002, Borrower agrees to deliver to Lender a first preferred ship mortgage and security interest in the Drydock to secure the payment and performance of the Obligations to be documented upon terms and conditions satisfactory to Lender. V. The Loan Agreement is hereby amended by amending and restating Section 4.01 in its entirety: SECTION

DRYDOCK. On or before March 30, 2002, Borrower agrees to deliver to Lender a first preferred ship mortgage and security interest in the Drydock to secure the payment and performance of the Obligations to be documented upon terms and conditions satisfactory to Lender. V. The Loan Agreement is hereby amended by amending and restating Section 4.01 in its entirety: SECTION.