Restrictions on employment. Neither Borrower shall employ its Ship, nor shall permit it to be employed, outside the cover provided by any obligatory insurances.
Appears in 4 contracts
Samples: Loan Agreement (Pyxis Tankers Inc.), Loan Agreement (Diana Shipping Inc.), Loan Agreement (Box Ships Inc.)
Restrictions on employment. Neither The Borrower shall not employ its the Ship, nor shall permit it to be employed, outside the cover provided by any obligatory insurancesinsurances without first obtaining the consent of the insurers and complying with any requirements (as to extra premium or otherwise) which the insurers specify.
Appears in 3 contracts
Samples: Loan Agreement (EuroDry Ltd.), Loan Agreement (EuroDry Ltd.), Loan Agreement (Euroseas Ltd.)
Restrictions on employment. Neither Borrower shall employ its Ship, Ship nor shall permit it her to be employed, outside the cover provided by any obligatory insurances.
Appears in 3 contracts
Samples: Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios Maritime Holdings Inc.), Agreement (Navios Maritime Holdings Inc.)
Restrictions on employment. Neither Borrower shall, and shall procure that the Collateral Owner shall not, employ its Shipthe Ship owned by it, nor shall permit it her to be employed, outside the cover provided by any obligatory insurances.
Appears in 2 contracts
Samples: Agreement (DryShips Inc.), Loan Agreement (DryShips Inc.)
Restrictions on employment. Neither Borrower shall employ its Shipthe Ship owned by it, nor shall permit it her to be employed, outside the cover provided by any obligatory insurances.
Appears in 1 contract
Samples: Loan Agreement (Oceanfreight Inc.)
Restrictions on employment. Neither The Borrower shall not employ its Shipthe Ship owned by it, nor shall permit it to be employed, outside the cover provided by any obligatory insurances.
Appears in 1 contract
Samples: Loan Agreement (EuroDry Ltd.)
Restrictions on employment. Neither Borrower shall employ its the Ship, nor shall permit it her to be employed, outside the cover provided by any obligatory insurances.
Appears in 1 contract
Samples: Dynagas LNG Partners LP
