Common use of MARITIME LIEN Clause in Contracts

MARITIME LIEN. Company may pursue all of its rights or remedies under state or federal law to attach the Vessel and sell the Vessel at auction to satisfy a maritime lien arising from the Vessel Owner’s failure to pay for the wharfage services provided to Vessel Owner under this Agreement. Vessel Owner agrees that in the event of a default under this Agreement the Company shall become entitled, without providing advance notice, to chain the Vessel to the Dry-Storage Facility improvements where she lies or move the Vessel to any other location in the water or on land and chain the Vessel at her new location, charging impound fees at the greater of $50 per day and the current market-rate for the storage or wharfage of the Vessel. Vessel Owner specifically agrees that if the Company elects to move or chain the Vessel as herein provided, Vessel Owner shall indemnify, defend and hold the Indemnified Parties (as defined in Section 17) harmless from and against all liability arising from or in any way connected with the chaining or moving of the Vessel. Vessel Owner shall in such event remain liable for the full amount of the Dry-Storage Fees as they become due, notwithstanding that the Vessel has been moved and/or chained.

MARITIME LIEN. Company may pursue all of its rights or remedies under state or federal law to attach the Vessel and sell the Vessel at auction to satisfy a maritime lien arising from the Vessel Owner’s failure to pay for the wharfage services provided to Vessel Owner under this Agreement. Vessel Owner agrees that in the event of a default under this Agreement the Company shall become entitled, without providing advance notice, to chain the Vessel to the Dry-Storage Facility Marina improvements where she lies lies, or move the Vessel to any other location in the water or on land and chain the Vessel at her new location, charging impound fees at the greater of $50 per day and the current market-rate for the storage or wharfage of the Vessel. Vessel Owner specifically agrees that if the Company elects to move or chain the Vessel as herein provided, Vessel Owner shall indemnify, defend and hold the Indemnified Parties (as defined in Section 1718) harmless from and against all liability arising from or in any way connected with the chaining or moving of the Vessel. Vessel Owner shall in such event remain liable for the full amount of the Dry-Storage Slip Fees as they become due, notwithstanding that the Vessel has been moved and/or chained.