PARTICULAR COVENANTS OF THE MORTGAGOR. The Mortgagor covenants and agrees as follows:
PARTICULAR COVENANTS OF THE MORTGAGOR. The Mortgagor covenants with the Mortgagee as follows:
PARTICULAR COVENANTS OF THE MORTGAGOR. The Mortgagor covenants with the Mortgagee and the holders of notes secured hereby (hereinafter sometimes collectively called the "noteholders") and each of them as follows:
PARTICULAR COVENANTS OF THE MORTGAGOR. The Mortgagor covenants, agrees, represents and warrants in particular as hereinafter in this Article set forth:
PARTICULAR COVENANTS OF THE MORTGAGOR. The Mortgagor covenants with the Mortgagees and the holders of notes secured hereby (hereinafter sometimes collectively called the "noteholders") and each of them as follows:
PARTICULAR COVENANTS OF THE MORTGAGOR. The Mortgagor covenants and agrees as follows: 1. Mortgagor is and shall continue to be entitled to own the Vessel out of the home port of Panama City, the Republic of Panama. All action necessary for the execution, delivery and validity hereof and of the Promissory Note and the Loan Agreement has been duly taken; and the Mortgagor agrees to faithfully comply with the provisions hereof and thereof in all material respects. Mortgagor is duly organized and is and shall continue in good standing under the laws of the Delaware and authorized to do business and in good standing.
PARTICULAR COVENANTS OF THE MORTGAGOR. 1.1 Performance of the Note and Mortgage and the other Loan Documents. This Mortgage is given as security for the performance and observance of the covenants and agreements contained herein and in any other agreement executed by the Mortgagor to a Mortgagee in connection with any Secured Obligation, present and future, including but not limited to the principal of, interest on and other sums from time to time owing in connection with any present or future indebtedness and obligations of the Mortgagor to the Secured Parties and the indebtedness evidenced by or arising in connection with the Loan, the Note and the other Loan Documents and any and all extensions, renewals, increases, modifications, amendments, restatements and replacements, as applicable, of any of the Secured Obligations. The Mortgagor will perform, observe and comply with all provisions of the Note and this Mortgage and the other Loan Documents secured hereby and will duly and timely pay, without relief from any valuation or appraisement law, to Mortgagee, for the benefit of the Secured Parties, the sums of money expressed in the Note with interest thereon at the applicable rate set forth in the Note and all other sums required to be paid by the Mortgagor pursuant to the other Secured Obligations, all without any deductions or credit for taxes or other similar charges paid by the Mortgagor. Without limiting the generality of the foregoing, in the event the Mortgagor and Mortgagee, or any of its Affiliates, enter into any Derivative Contract, the Mortgagor shall be responsible for any and all obligations, contingent or otherwise, whether now existing or hereafter arising, of the Mortgagor to Mortgagee, or to any of its Affiliates or successors arising under or in connection with any such Derivative Contract, all of which obligations shall be secured by this Mortgage and entitled to all of the benefits and protections afforded to Mortgagee under or pursuant to this Mortgage. The Mortgagor agrees that for purposes of this Mortgage, any indebtedness and obligations which the Mortgagor may have to any Affiliate of Mortgagee in connection with any Derivative Contract or any Bank Product Debt shall be deemed to be indebtedness and obligations owed directly to such Lender and shall be secured by this Mortgage and may be collected and recovered by Mortgagee, for the benefit of such Affiliate, in any action to enforce this Mortgage as if such indebtedness and obligations were directly owed to Mortgag...
PARTICULAR COVENANTS OF THE MORTGAGOR. The Mortgagor covenants with the Mortgagees and the holders of notes secured hereby (hereinafter sometimes collectively called the "noteholders") and each of them as follows: SECTION 1. The Mortgagor is duly authorized under its articles of incorporation and by-laws and the laws of the State of its incorporation and all other applicable provisions of law to execute and deliver and assume the Current REA Note, the Outstanding REA Notes, the Mortgagor/McLoud Assumption REA Notes, the Mortgagor/McLoud Assumption Bank Notes and this Mortgage and to execute and deliver Additional Notes; and all corporate action on its part for the execution and delivery and assumption of the Current REA Note, the outstanding REA Notes, the Mortgagor/McLoud Assumption REA Notes, the Mortgagor/McLoud Assumption Bank Notes and this Mortgage has been duly and effectively taken; and the Current REA Note, the Outstanding REA Notes, the Mortgagor/McLoud Assumption REA Notes, the Mortgagor/McLoud Assumption Bank Notes and this Mortgage are, or when executed and delivered will be, the valid and enforceable obligations of the Mortgagor in accordance with their respective terms.
