Common use of Removal of parts Clause in Contracts

Removal of parts. The Borrower shall procure that each Guarantor shall not remove any material part of the Ship owned by it, or any item of equipment installed on that Ship, unless the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed, is free from any Security Interest or any right in favour of any person other than the Lender and becomes on installation on that Ship, the property of the relevant Guarantor, and subject to the security constituted by the Mortgage and the Deed of Covenant relating to that Ship Provided that the relevant Guarantor may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by it.

Removal of parts. The Borrower shall procure that each no Guarantor shall not remove any material part of the Ship owned by it, or any item of equipment installed on that Shipon, the Ship unless the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed, is free from any Security Interest or any right in favour of any person other than the Lender Security Trustee and becomes on installation on that Ship, the Ship the property of the relevant Guarantor, that Guarantor and subject to the security constituted by the Mortgage and Mortgage, relative to the Deed of Covenant relating to that Ship Provided that the relevant a Guarantor may install equipment owned by a third party if the equipment can be removed without any material risk of damage to the Ship owned by itShip.

Removal of parts. The Borrower shall procure that each Guarantor shall not remove any material part of the Ship owned by it, or any item of equipment installed on that Ship, unless the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed, is free from any Security Interest or any right in favour of any person other than the Lender and becomes on installation on that Ship, the property of the relevant Guarantor, and subject to the security constituted by the Mortgage and the Deed of Covenant relating to that Ship Provided that PROVIDED THAT the relevant Guarantor may install equipment owned by a third party if the equipment can be removed without any risk of damage to the Ship owned by it.

Removal of parts. The Borrower shall procure that each no Guarantor or Collateral Guarantor shall not remove any material part of the Ship owned by it, or any item of equipment installed on that Shipon, the Ship unless the part or item so removed is forthwith replaced by a suitable part or item which is in the same condition as or better condition than the part or item removed, is free from any Security Interest or any right in favour of any person other than the Lender Security Trustee and becomes on installation on that Ship, the Ship the property of the relevant Guarantor, that Guarantor or Collateral Guarantor and subject to the security constituted by the Mortgage and Mortgage, relative to the Deed of Covenant relating to that Ship Provided that the relevant a Guarantor or Collateral Guarantor may install equipment owned by a third party if the equipment can be removed without any material risk of damage to the Ship owned by itShip.