Common use of Flag State Clause in Contracts

Flag State. the registration of a Ship or a Mortgage under the laws and flag of the relevant Flag State is cancelled or terminated without the prior written consent of the Security Trustee; or

Flag State. the registration of a Ship any of the Mortgaged Ships or a Mortgage any of the Mortgages under the laws and flag of the relevant Flag State is cancelled or terminated without the prior written consent of the Security TrusteeMajority Lenders; or