EVENT OF ARREST OR DETENTION Sample Clauses

EVENT OF ARREST OR DETENTION. In the event that the Vessel shall be arrested or detained by any officer of any court or by any other authority of any kind or in the event that the Mortgagee may become entitled to proceed as provided for in Clause 21 hereof, the Mortgagor hereby irrevocably appoints the Mortgagee and its officers or representatives (coupled with the interest of the Mortgagee in this security) to do any and all acts and things which they may deem necessary or convenient, as if they were the Mortgagor, including without limitation, to receive or take possession and appoint receivers, managers or other agents of and for the Vessel, to sell and dispose of the Vessel, to defend any action, to pay any debt, to negotiate, settle, accept and produce a partial or full discharge on recovery under any Insurances, and to settle and compromise or otherwise discharge any lien or claim affecting the Vessel.
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Related to EVENT OF ARREST OR DETENTION

  • Default or Event of Default No Default or Event of Default hereunder has occurred or is continuing or will occur as a result of the giving effect hereto.

  • REMEDIES IN CASE OF AN EVENT OF DEFAULT If there shall have occurred and be continuing an Event of Default, then and in every such case, the Pledgee shall be entitled to exercise all of the rights, powers and remedies (whether vested in it by this Agreement, any other Secured Debt Agreement or by law) for the protection and enforcement of its rights in respect of the Collateral, and the Pledgee shall be entitled to exercise all the rights and remedies of a secured party under the Uniform Commercial Code as in effect in any relevant jurisdiction and also shall be entitled, without limitation, to exercise the following rights, which each Pledgor hereby agrees to be commercially reasonable:

  • Remedies Upon an Event of Default (a) Upon the occurrence and during the continuance of an Event of Default described in subsection 15(g) hereof, all of the Liabilities shall immediately and automatically become due and payable, without notice of any kind. Upon the occurrence of any other Event of Default, all Liabilities may, at the option of Lender, and without demand, notice or legal process of any kind, be declared, and immediately shall become, due and payable.

  • Remedies Upon Event of Default If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions:

  • Notification of Event of Default Borrower shall notify Agent immediately of the occurrence of any Event of Default.

  • Default Events (a) Any material breach of the Funding Agreement by the Recipient, including those set out below, will be an event of default (“Default Event”):

  • No Default or Event of Default No Default or Event of Default shall have occurred and be continuing on such date or after giving effect to the Extension of Credit to be made on such date unless such Default or Event of Default shall have been waived in accordance with this Agreement.

  • Not to Prevent Events of Default The failure to make a payment on account of principal of or premium, if any, or interest on the Securities by reason of any provision of this Article Fifteen will not be construed as preventing the occurrence of an Event of Default.

  • Actions following an Event of Default On, or at any time after, the occurrence of an Event of Default:

  • Default or Breach A default or breach may be declared with or without termination. The following shall constitute a default or breach:

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