Common use of Sureties Clause in Contracts

Sureties. permit any Indebtedness of any Borrower to any person (other than the Creditors pursuant to the Security Documents) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship is entered, guarantees required to procure the release of such Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Ship);

Sureties. permit any Indebtedness of any Borrower the Borrowers to any person (other than the Creditors pursuant to the Security DocumentsBank) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship is entered, guarantees required to procure the release of such a Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such a Ship);

Sureties. permit any Indebtedness of any the Borrower to any person (other than the Creditors pursuant to the Security DocumentsBank) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a the Ship is entered, guarantees required to procure the release of such the Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such the Ship);

Sureties. permit any Indebtedness of any either Borrower to any person (other than the Creditors Banks pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business and in the ordinary course by any protection and indemnity or war risks association with which a Ship Vessel is entered, guarantees required to procure the release of such Ship Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipa Vessel);

Sureties. permit any Indebtedness of any the Borrower to any person (other than the Creditors pursuant to the Security DocumentsBanks) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a any Ship is entered, guarantees required to procure the release of such a Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Ship);

Sureties. permit any Indebtedness of any Borrower to any person (other than the Creditors Banks pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business and in the ordinary course by any protection and indemnity or war risks association with which a Ship Vessel is entered, guarantees required to procure the release of such Ship Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipa Vessel and guarantees in favour of the Builder in respect of any Shipbuilding Contract);; or

Sureties. permit any Indebtedness of any Borrower to any person (other than the Creditors Banks pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business and in the ordinary course by any protection and indemnity or war risks association with which a Ship Vessel is entered, guarantees required to procure the release of such Ship Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipa Vessel);

Sureties. permit any Indebtedness of any the Borrower to any person (other than the Creditors Banks pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business and in the ordinary course by any protection and indemnity or war risks association with which a Ship the Vessel is entered, guarantees required to procure the release of such Ship the Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipthe Vessel);

Sureties. permit any Indebtedness of any Borrower to any person (other than the Creditors pursuant to the Security Documents) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship is entered, guarantees required to procure the release of such a Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such a Ship);

Sureties. permit any Indebtedness of any either Borrower to any person (other than the Creditors pursuant to the Security DocumentsCreditors) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship is entered, guarantees required to procure the release of such a Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such a Ship);

Sureties. permit any Indebtedness of any either Borrower to any person (other than the Creditors Bank pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business and in the ordinary course by any protection and indemnity or war risks association with which a Ship Vessel is entered, guarantees required to procure the release of such Ship Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipa Vessel and guarantees in favour of the Builder in respect of either Shipbuilding Contract);; or

Sureties. permit any Indebtedness of any a Borrower to any person (other than the Creditors Finance Parties pursuant to the Security Finance Documents) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a the relevant Ship is entered, guarantees required to procure the release of the such Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Ship);

Sureties. permit any Indebtedness of any either Borrower to any person (other than the Creditors Banks pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business and in the ordinary course by any protection and indemnity or war risks association with which a Ship Vessel is entered, guarantees required to procure the release of such Ship Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipa Vessel or guarantees given under the Term B Loan);

Sureties. permit any Indebtedness of any Borrower to any person (other than the Creditors pursuant to the Security DocumentsCreditors) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship is entered, guarantees required to procure the release of such a Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such a Ship);

Sureties. permit any Indebtedness of any the Borrower to any person (other than the Creditors pursuant to the Security Documents) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a the Ship is entered, guarantees required to procure the release of such the Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such the Ship);

Sureties. permit any Indebtedness of any Borrower to any person (other than the Creditors Creditor Parties pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business and in the ordinary course by any protection and indemnity or war risks association with which a Ship Vessel is entered, guarantees required to procure the release of such Ship Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipa Vessel);

Sureties. permit any Indebtedness of any either Borrower to any person (other than the Creditors pursuant to the Security Documents) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship is entered, guarantees required to procure the release of such a Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such a Ship);

Sureties. permit any Indebtedness of any the Borrower to any person (other than the Creditors Banks pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship the Vessel is entered, guarantees required to procure the release of such Ship the Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipthe Vessel and guarantees in favour of the Builder in respect of the Shipbuilding Contract);

Sureties. permit any Indebtedness of any Borrower Owner to any person (other than the Creditors Banks pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship Vessel is entered, guarantees required to procure the release of such Ship Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipa Vessel);; or

Sureties. permit any Indebtedness of any Borrower to any person (other than the Creditors pursuant to the Security Documents) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course of business by any protection and indemnity or war risks association with which a Ship is entered, guarantees required to procure the release of such Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such a Ship);

Sureties. permit any Indebtedness of any the Borrower to any person (other than the Creditors Bank pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business and in the ordinary course by any protection and indemnity or war risks association with which a Ship the Vessel is entered, guarantees required to procure the release of such Ship the Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipthe Vessel);

Sureties. permit any Indebtedness of any such Borrower to any person (other than the Creditors Finance Parties pursuant to the Security Documents) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a the relevant Ship is entered, entered and guarantees required to procure the release of such Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Ship);; or

Sureties. permit any Indebtedness of any either Borrower to any person (other than the Creditors Lender pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Borrower’s Ship is entered, guarantees required to procure the release of such Borrower’s Ship from any arrest, arrest detention, attachment or levy or guarantees or undertakings required for the salvage of such a Borrower’s Ship);

Sureties. permit any Indebtedness of any Borrower to any person (other than the Creditors Bank pursuant to the Security Documents or under the Senior Security Documents) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a New Ship is entered, guarantees required to procure the release of such a New Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such a Ship);

Sureties. permit any Indebtedness of any Borrower to any person (other than to the Creditors Lender pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business and/or by any protection and indemnity or war risks association with which a Ship the Vessel owned by it is entered, guarantees required to procure the release of such Ship that Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipthat Vessel);; or

Sureties. permit any Indebtedness of any Borrower to any person (other than to the Creditors Lender pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business by any protection and indemnity or war risks association with which a Ship Vessel is entered, guarantees required to procure the release of such Ship Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipa Vessel);; or

Sureties. permit any Indebtedness of any such Borrower to any person (other than the Creditors pursuant to the Security DocumentsBank) to be guaranteed by any person (save save, in the case of the Borrower, for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship the Vessel is entered, guarantees required to procure the release of such Ship the Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipthe Vessel);

Sureties. permit any Indebtedness of any the Borrower to any person (other than the Creditors pursuant to the Security DocumentsBank) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a the Ship is entered, guarantees required to procure the release of such the Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such the Ship);; or

Sureties. permit any Indebtedness of any either Borrower to any person (other than the Creditors pursuant to the Security Documents) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship is entered, guarantees required to procure the release of such Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Ship);

Sureties. permit any Indebtedness of any such Borrower to any person (other than the Creditors pursuant to the Security DocumentsBank) to be guaranteed by any person (save save, in the case of the Borrower, for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship its Vessel is entered, guarantees required to procure the release of such Ship its Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipits Vessel);

Sureties. permit any Indebtedness of any Borrower to any person (other than the Creditors Bank pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business and in the ordinary course by any protection and indemnity or war risks association with which a Ship Vessel is entered, guarantees required to procure the release of such Ship Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipa Vessel);; or

Sureties. permit any Indebtedness of any the Borrower to any person (other than to the Creditors Lender pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business by any protection and indemnity or war risks association with which a Ship the Vessel is entered, guarantees required to procure the release of such Ship the Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipthe Vessel);; or

Sureties. permit any Indebtedness of any Borrower the Borrowers to any person (other than the Creditors pursuant to the Security DocumentsBank) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship is entered, guarantees required to procure the release of such Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Ship);

Sureties. permit any of their Indebtedness of any Borrower to any person (other than the Creditors pursuant to the Security Documents) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship is entered, guarantees required to procure the release of such Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such a Ship);

Sureties. permit any Indebtedness of any the Borrower to any person (other than to the Creditors Lender pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of trading up to USD350,000 or such higher amount as agreed with the Lender or by any protection and indemnity or war risks association with which a Ship the Vessel is entered, guarantees required to procure the release of such Ship the Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipthe Vessel);; or

Sureties. permit any Indebtedness of any either Borrower to any person (other than the Creditors Bank pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business and in the ordinary course by any protection and indemnity or war risks association with which a Ship Vessel is entered, guarantees required to procure the release of such Ship Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipa Vessel);

Sureties. permit any Indebtedness of any such Borrower to any person (other than the Creditors pursuant to the Security DocumentsFinance Parties) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a the relevant Ship is entered, guarantees required to procure the release of such the relevant Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipthe relevant Ship or guarantees of trade debt incurred by a Borrower in the ordinary course of business);; or

Sureties. permit any Indebtedness of any the Borrower to any person (other than to the Creditors Lender pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship the Vessel is entered, guarantees required to procure the release of such Ship the Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipthe Vessel);; or

Sureties. permit any Indebtedness of any Borrower to any person (other than the Creditors pursuant to the Security Documents) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship is entered, guarantees required to procure the release of such Ship their Ships from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shiptheir Ships);

Sureties. permit any Indebtedness of any Borrower to any person (other than the Creditors pursuant to the Security Documents) to be guaranteed by any person (save for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship is entered, guarantees required to procure the release of such a Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such a Ship);

Sureties. permit any Indebtedness of any either Borrower to any person (other than the Creditors Banks pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course of business and in the ordinary course by any protection and indemnity or war risks association with which a Ship Vessel is entered, guarantees required to procure the release of such Ship Vessel from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such Shipa Vessel);; 49

Sureties. permit any Indebtedness of any Borrower Owner to any person (other than the Creditors pursuant to the Security Documents) to be guaranteed by any person (save except for guarantees or indemnities from time to time required in the ordinary course by any protection and indemnity or war risks association with which a Ship is entered, guarantees required to procure the release of such Ship from any arrest, detention, attachment or levy or guarantees or undertakings required for the salvage of such a Ship);