Common use of Title and Encumbrances Clause in Contracts

Title and Encumbrances. Borrower has good and marketable title to the Vessel and to all of the other Collateral except Collateral owned by Pledgor, Charterer or Allseas. Pledgor has good and marketable title to all of the Equity Interest in Borrower, and all Collateral related thereto. Charterer has good and marketable title to the Time Charter, all other Collateral described in the Charterer's Earnings Assignment Agreement, and all Collateral related thereto. Allseas has good and marketable title to the deposit account described in the Allseas Charge Over Cash Deposit and all Collateral related thereto. None of Borrower's assets or any of the other Collateral are subject to any Encumbrances except (a) Encumbrances in favor of Lender, (b) Encumbrances listed in Schedule 4.9, and (c) Encumbrances expressly permitted in any Loan Documents (each, a "Permitted Encumbrance").

Title and Encumbrances. Borrower has good and marketable merchantable title to the Vessel and to all of the other Collateral except Collateral owned by Pledgor, Charterer Charterer, or Allseas. Pledgor has good and marketable merchantable title to all of the Equity Interest in Borrower, and all Collateral related thereto. Charterer has good and marketable merchantable title to the Time Charter, all other Collateral described in the Charterer's ’s Earnings Assignment Agreement, and all Collateral related thereto. Allseas has good and marketable merchantable title to the deposit account described in the Allseas Charge Over on Cash Deposit Deposit, and all Collateral related thereto. None of Borrower's ’s assets or any of the other Collateral are subject to any Encumbrances except (a) Encumbrances in favor of Lender, (b) Encumbrances listed in Schedule 4.9, and (c) Encumbrances expressly permitted in any Loan Documents (each, a "“Permitted Encumbrance"”).

Title and Encumbrances. Borrower has good and marketable merchantable title to the Vessel and to all of the other Collateral except Collateral owned by Pledgor, Charterer Charterer, or Allseas. Pledgor has good and marketable merchantable title to all of the Equity Interest in Borrower, and all Collateral related thereto. Charterer has good and marketable merchantable title to the Time Charter, all other Collateral described in the Charterer's ’s Earnings Assignment Agreement, and all Collateral related thereto. Allseas has good and marketable merchantable title to the deposit account described in the Allseas Charge Over on Cash Deposit Deposit, and all Collateral related thereto. None of Borrower's ’s assets or any of the other Collateral are subject to any Encumbrances except (a) Encumbrances in favor of Lender, (b) Encumbrances listed in Schedule 4.9, and (c) Encumbrances expressly permitted in any Loan Documents (each, a "“Permitted Encumbrance"”).