Further documentation etc. 4.1 The Owner shall execute forthwith any document which the Bank may specify for the purpose of: 4.1.1 supplementing the rights which this Deed confers on the Bank in relation to the Secured Property; or 4.1.2 creating a mortgage of the Secured Property to replace or supplement the charge created in clause 3 above; or 4.1.3 registering or otherwise perfecting this Deed or any mortgage created under clause 4.1.2 above; or 4.1.4 ensuring or confirming the validity of anything done or to be done under this Deed. 4.2 Any such document shall be in the terms specified by the Bank and, in the case of a mortgage of the Secured Property, those terms may include a provision entitling the Bank, on or after a Default, to appropriate, or otherwise deal with, the Secured Property for the purpose of discharging the Outstanding Indebtedness. 4.3 The Owner shall also forthwith do any act and execute any document (including a document which amends or replaces this Deed) which the Bank specifies for the purpose of enabling or assisting the Bank to comply, in relation to the Secured Property and/or the Outstanding Indebtedness, with any requirement (legally binding or not) applicable to the Bank and, in particular, the requirements of any banking supervisory authority with regard to netting of cash collateral. 4.4 For the purpose of securing performance of the Owner’s obligations under clauses 4.1 to 4.3, the Owner irrevocably appoints the Bank as its attorney, on its behalf and in its name or otherwise to sign or execute any document which, in the opinion of the Bank, the Owner is obliged, or could be required, to sign or execute under any of the said clauses, which the Bank considers necessary or convenient for or in connection with any exercise or intended exercise of any rights which the Bank has under this Deed or any other purpose connected with this Deed. 4.5 The Bank may appoint any person or persons as its substitute under that power of attorney referred to in clause 4.4 and may also delegate that power of attorney to any person or persons.
Appears in 3 contracts
Sources: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)
Further documentation etc. 4.1 The Owner Borrowers shall execute forthwith any document which the Bank Security Agent may specify for the purpose of:
4.1.1 supplementing the rights which this Deed confers on the Bank Security Agent in relation to the Secured Property; or
4.1.2 creating a mortgage of the Secured Property to replace or supplement the charge created in clause 3 above; or
4.1.3 registering or otherwise perfecting this Deed or any mortgage created under clause 4.1.2 above; or
4.1.4 ensuring or confirming the validity of anything done or to be done under this Deed.
4.2 Any such The document shall be in the terms specified by the Bank Security Agent and, in the case of a mortgage of the Secured Property, those terms may include a provision entitling the BankSecurity Agent, on or after a Defaultan Event of Default which is continuing, to appropriate, or otherwise deal with, the Secured Property for the purpose of discharging the Outstanding Indebtedness.
4.3 The Owner Borrowers shall also forthwith do any act and execute any document (including a document which amends or replaces this Deed) which the Bank Security Agent specifies for the purpose of enabling or assisting the Bank Security Agent to comply, in relation to the Secured Property and/or the Outstanding Indebtedness, with any requirement (legally binding or not) applicable to the Bank Security Agent and, in particular, the requirements of any banking supervisory authority with regard to netting of cash collateral.
4.4 For the purpose of securing performance of the Owner’s Borrowers' obligations under clauses 4.1 to 4.3, the Owner each Borrower irrevocably appoints the Bank Security Agent as its attorney, on its behalf and in its name or otherwise to sign or execute any document which, in the opinion of the BankSecurity Agent, the Owner relevant Borrower is obliged, or could be required, to sign or execute under any of the said clauses, which the Bank Security Agent considers necessary or convenient for or in connection with any exercise or intended exercise of any rights which the Bank Security Agent has under this Deed or for any other purpose connected with this DeedDeed Provided always that such power of attorney shall not be exercisable by or on behalf of the Security Agent until the happening of an Event of Default.
4.5 The Bank Security Agent may appoint any person or persons as its substitute under that the power of attorney referred to in clause 4.4 and may also delegate its power under that power of attorney to any person or personspersons who will act in compliance with the terms of this Deed.
Appears in 2 contracts
Sources: Ninth Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Second Supplemental Agreement (Aegean Marine Petroleum Network Inc.)
Further documentation etc. 4.1 The Owner Borrower shall execute forthwith any document which the Bank Lender may specify for the purpose of:
4.1.1 (a) supplementing the rights which this Deed confers on the Bank Lender in relation to the Secured Property; or
4.1.2 (b) creating a mortgage of the Secured Property to replace or supplement the charge created in clause Clause 3 above; or
4.1.3 (c) registering or otherwise perfecting this Deed or any mortgage created under clause 4.1.2 paragraph (b) above; or
4.1.4 (d) ensuring or confirming the validity of anything done or to be done under this Deed.
4.2 Any such The document shall be in the terms specified by the Bank Lender and, in the case of a mortgage of the Secured Property, those terms may include a provision entitling the BankLender, on or after a an Event of Default, to appropriate, or otherwise deal with, the Secured Property for the purpose of discharging the Outstanding Secured Indebtedness.
4.3 The Owner Borrower shall also forthwith do any act and execute any document (including a document which amends or replaces this Deed) which the Bank Lender specifies for the purpose of enabling or assisting the Bank Lender to comply, in relation to the Secured Property and/or the Outstanding Secured Indebtedness, with any requirement (legally binding or not) applicable to the Bank Lender and, in particular, the any requirements of any a banking supervisory authority with regard to netting of or cash collateral.
4.4 For the purpose of securing performance of the OwnerBorrower’s obligations under clauses Clauses 4.1 to 4.3, the Owner Borrower irrevocably appoints the Bank Lender as its attorney, on its behalf and in its name or otherwise to sign or execute any document which, in the opinion of the BankLender, the Owner Borrower is obliged, or could be required, to sign or execute under any of the said clausesthose Clauses, which the Bank Lender considers necessary or convenient for or in connection with any exercise or intended exercise of any rights which the Bank Lender has under this Deed or any other purpose connected with this Deed.
4.5 The Bank Lender may appoint any person or persons as its substitute under that power of attorney referred to in clause 4.4 and may also delegate that power of attorney to any person or persons.
4.6 In this clause “mortgage” includes a charge and any other kind of security.
5.1 The Borrower represents and warrants to the Lender as follows:
(a) the Borrower is the sole owner of the Secured Property and has the right to create all Security Interests which this Deed purports to create;
(b) the Borrower has not sold or transferred or (save by this Deed) created any Security Interest over any of its rights, title or interest to or in the Secured Property and no third party has or will have any Security Interest or other interest, right or claim of any kind over, or in relation to, any of the Secured Property;
(c) the Borrower has the corporate power, and has taken all necessary corporate action to authorise it, to execute this Deed, the Loan Agreement and the Master Agreement; and
(d) nothing in this Deed will or might result in the Borrower contravening any law or regulation which is now in force or which has been published but not yet brought into force or any contractual or other obligation which the Borrower now has to a third party.
Appears in 1 contract
Further documentation etc. 4.1 The Owner shall execute forthwith any document which the Bank Lender may specify for the purpose of:
4.1.1 supplementing the rights which this Deed confers on the Bank Lender in relation to the Secured Property; or
4.1.2 creating a mortgage of the Secured Property to replace or supplement the charge created in clause 3 above; or
4.1.3 registering or otherwise perfecting this Deed or any mortgage created under clause 4.1.2 above; or
4.1.4 ensuring or confirming the validity of anything done or to be done under this Deed.
4.2 Any such document shall be in the terms specified by the Bank Lender and, in the case of a mortgage of the Secured Property, those terms may include a provision entitling the BankLender, on or after a Default, to appropriate, or otherwise deal with, the Secured Property for the purpose of discharging the Outstanding Indebtedness.
4.3 The Owner shall also forthwith do any act and execute any document (including a document which amends or replaces this Deed) which the Bank Lender specifies for the purpose of enabling or assisting the Bank Lender to comply, in relation to the Secured Property and/or the Outstanding Indebtedness, with any requirement (legally binding or not) applicable to the Bank Lender and, in particular, the requirements of any banking supervisory authority with regard to netting of cash collateral.
4.4 For the purpose of securing performance of the Owner’s obligations under clauses 4.1 to 4.3, the Owner irrevocably appoints the Bank Lender as its attorney, on its behalf and in its name or otherwise to sign or execute any document which, in the opinion of the BankLender, the Owner is obliged, or could be required, to sign or execute under any of the said clauses, which the Bank Lender considers necessary or convenient for or in connection with any exercise or intended exercise of any rights which the Bank Lender has under this Deed or any other purpose connected with this Deed.
4.5 The Bank Lender may appoint any person or persons as its substitute under that power of attorney referred to in clause 4.4 and may also delegate that power of attorney to any person or persons.
Appears in 1 contract
Sources: Loan Agreement (Safe Bulkers, Inc.)
Further documentation etc. 4.1 The Owner Borrower shall execute forthwith any document which the Bank may specify for the purpose of:
4.1.1 supplementing the rights which this Deed confers on the Bank in relation to the Secured Property; or
4.1.2 creating a mortgage of the Secured Property to replace or supplement the charge created in clause 3 above; or
4.1.3 registering or otherwise perfecting this Deed or any mortgage created under clause 4.1.2 above; or
4.1.4 ensuring or confirming the validity of anything done or to be done under this Deed.
4.2 Any such The document shall be in the terms specified by the Bank and, in the case of a mortgage of the Secured Property, those terms may include a provision entitling the Bank, on or after a an Event of Default, to appropriate, or otherwise deal with, the Secured Property for the purpose of discharging the Outstanding Indebtedness.
4.3 The Owner Borrower shall also forthwith do any act and execute any document (including a document which amends or replaces this Deed) which the Bank specifies for the purpose of enabling or assisting the Bank to comply, in relation to the Secured Property and/or the Outstanding Indebtedness, with any requirement (legally binding or not) applicable to the Bank and, in particular, the requirements of any banking supervisory authority with regard to netting of cash collateral.
4.4 For the purpose of securing performance of the OwnerBorrower’s obligations under clauses 4.1 to 4.3, the Owner Borrower irrevocably appoints the Bank as its attorney, on its behalf and in its name or otherwise to sign or execute any document which, in the opinion of the Bank, the Owner Borrower is obliged, or could be required, to sign or execute under any of the said clauses, which the Bank considers necessary or convenient for or in connection with any exercise or intended exercise of any rights which the Bank has under this Deed or any other purpose connected with this Deed.
4.5 The Bank may appoint any person or persons as its substitute under that power of attorney referred to in clause 4.4 and may also delegate that power of attorney to any person or persons.
Appears in 1 contract
Further documentation etc. 4.1 The Owner Borrower shall execute forthwith any document which the Bank may specify for the purpose of:
4.1.1 supplementing the rights which this Deed confers on the Bank in relation to the Secured Property; or
4.1.2 creating a mortgage of the Secured Property to replace or supplement the charge created in clause 3 above; or
4.1.3 registering or otherwise perfecting this Deed or any mortgage created under clause 4.1.2 above; or
4.1.4 ensuring or confirming the validity of anything done or to be done under this Deed.
4.2 Any such The document shall be in the terms specified by the Bank and, in the case of a mortgage of the Secured Property, those terms may include a provision entitling the Bank, on or after a Default, to appropriate, or otherwise deal with, the Secured Property for the purpose of discharging the Outstanding Indebtedness.
4.3 The Owner Borrower shall also forthwith do any act and execute any document (including a document which amends or replaces this Deed) which the Bank specifies for the purpose of enabling or assisting the Bank to comply, in relation to the Secured Property and/or the Outstanding Indebtedness, with any requirement (legally binding or not) applicable to the Bank and, in particular, the requirements of any banking supervisory authority with regard to netting of cash collateral.
4.4 For the purpose of securing performance of the OwnerBorrower’s obligations under clauses 4.1 to 4.3, the Owner Borrower irrevocably appoints the Bank as its attorney, on its behalf and in its name or otherwise to sign or execute any document which, in the opinion of the Bank, the Owner Borrower is obliged, or could be required, to sign or execute under any of the said clauses, which the Bank considers necessary or convenient for or in connection with any exercise or intended exercise of any rights which the Bank has under this Deed or any other purpose connected with this Deed.
4.5 The Bank may appoint any person or persons as its substitute under that power of attorney referred to in clause 4.4 and may also delegate that power of attorney to any person or persons.
Appears in 1 contract
Sources: Loan Agreement (Safe Bulkers, Inc.)