Termination of the Title XI Reserve Fund. (a) The Title XI Reserve Fund shall terminate at such time as the Secretary's Note shall have been satisfied and discharged and the Company shall have paid or caused to be paid all sums secured under the Security Agreement or the Mortgage.
Appears in 7 contracts
Samples: Fund and Financial Agreement (Pride International Inc), Fund and Financial Agreement (American Classic Voyages Co), Fund and Financial Agreement (Chiles Offshore Inc/New/)
Termination of the Title XI Reserve Fund. (a) The Title XI Reserve Fund shall terminate at such time as the Secretary's Note shall have been satisfied and discharged and the Company Partnerships shall have paid or caused to be paid all sums secured under the Security Agreement or and the Mortgage.
Appears in 2 contracts
Samples: Fund and Financial Agreement (K-Sea Tranportation Partners Lp), Fund and Financial Agreement (K-Sea Transportation Partners Lp)
Termination of the Title XI Reserve Fund. (a) The Title XI Reserve Fund shall terminate at such time as the Secretary's ’s Note shall have been satisfied and discharged and the Company Assuming Shipowner shall have paid or caused to be paid all sums secured under the Security Agreement or and the Mortgage.
Appears in 1 contract
Samples: Fund and Financial Agreement (Ambassadors International Inc)
Termination of the Title XI Reserve Fund. (a) The Title XI Reserve Fund shall terminate at such time as the Secretary's ’s Note shall have been satisfied and discharged and the Company Partnerships shall have paid or caused to be paid all sums secured under the Security Agreement or and the Mortgage.
Appears in 1 contract
Samples: Fund and Financial Agreement (K-Sea Tranportation Partners Lp)
