Title; negative pledge. Each Borrower will:
Title; negative pledge. Each Borrower will keep its rights under the Shipbuilding Contract and Refund Guarantees to which it is a party, and with effect from the Delivery Date of the Ship, will hold the legal title to, and own the entire beneficial interest in its Ship, its Insurances and Earnings, in each case free from all Security Interests and other interests and rights of every kind, except for Permitted Security Interests.
Title; negative pledge. Each Shipowner will:
Title; negative pledge. The Borrower shall procure that each Guarantor will:
Title; negative pledge. From and after the Drawdown Date and unless a Ship is sold in compliance with this Agreement, the Borrower will procure that each Owner shall hold the legal title to, and own the entire beneficial interest in the Ship owned by that Owner, its Insurances and Earnings, free from all Security Interests and other interests and rights of every kind, except for those created by the Finance Documents and the effect of assignments contained in the Finance Documents and except for Permitted Security Interests.
Title; negative pledge. The Borrower will and will procure that each Owner will:
Title; negative pledge. It will:
Title; negative pledge. The Obligors will:
Title; negative pledge. Each Obligor shall hold the legal title to, and own the entire beneficial interest in any Ship owned by that Obligor, its Earnings and Insurances, free from all Security Interests and other interests and rights of every kind, except for those created by the Finance Documents and the effect of assignments contained in the Finance Documents and except for Permitted Security Interests Provided that an Initial Borrower may transfer any Ship owned by it to Euronav subject to the provisions of Clause 14.15 (Transfer of Ships).
