Common use of Title to and Possession of the Vessels Clause in Contracts

Title to and Possession of the Vessels. On the date of this Security Agreement, the Shipowner represents and warrants that it lawfully owns each Vessel free from any liens, encumbrances, security interests, charges, or rights in rem (subject only to (1) the equity of the Shipyard under the Construction Contract, if any; (2) liens on any undelivered Vessel which the Shipyard is obligated to discharge under the Construction Contract; (3) any security interest subordinated to the Secretary's security interest permitted under the Special Provisions hereof; (4) the Secretary's rights hereunder; and (5) the liens permitted by paragraph (d)(3) of this Section). The Shipowner shall, for the Secretary's benefit, warrant and defend the title to, and possession of, each Vessel and every part thereof against the claims and demands of all Persons whomsoever.

Title to and Possession of the Vessels. On the date of this Security Agreement, the Shipowner represents and warrants that it lawfully owns each Vessel free from any liens, encumbrances, security interests, charges, or rights in rem (subject only to (1) the equity of the Shipyard under the Construction Contract, if any; , (2) liens on any undelivered Vessel which the Shipyard is obligated to discharge under the Construction Contract; , (3) any security interest subordinated to the Secretary's security interest permitted under the Special Provisions hereof; , (4) the Secretary's rights hereunder; hereunder and (5) the liens permitted by paragraph (d)(3) of this Section)section. The Shipowner shall, for the Secretary's benefit, warrant and defend the title to, and possession of, each Vessel and every part thereof against the claims and demands of all Persons whomsoever.

Title to and Possession of the Vessels. On the date of this Security Agreement, the Shipowner represents and warrants that it lawfully owns each Vessel free from any liens, encumbrances, security interests, charges, or rights in rem IN REM (subject only to (1) the equity of the Shipyard under the Construction Contract, if any; , (2) liens on any undelivered Vessel which the Shipyard is obligated to discharge under the Construction Contract; , (3) any security interest subordinated to the Secretary's security interest permitted under the Special Provisions hereof; , (4) the Secretary's rights hereunder; hereunder and (5) the liens permitted by paragraph (d)(3) of this Section). The Shipowner shall, for the Secretary's benefit, warrant and defend the title to, and possession of, each Vessel and every part thereof against the claims and demands of all Persons whomsoever.

Title to and Possession of the Vessels. On the date of this Security Agreement, the Shipowner Shipowner’s represents and warrants that it lawfully owns each Vessel free from any liens, encumbrances, security interests, charges, or rights in rem (subject only to (1) the equity of the Shipyard under the Construction Contract, if any; , (2) liens on any undelivered Vessel which the Shipyard is obligated to discharge under the Construction Contract; , (3) any security interest subordinated to the Secretary's ’s security interest permitted under the Special Provisions hereof; , (4) the Secretary's ’s rights hereunder; hereunder and (5) the liens permitted by paragraph (d)(3) of this Section). The Shipowner Shipowner’s shall, for the Secretary's ’s benefit, warrant and defend the title to, and possession of, each Vessel and every part thereof against the claims and demands of all Persons whomsoever.

Title to and Possession of the Vessels. On the date of this Security Agreement, the Shipowner represents and warrants that it lawfully owns each Vessel free from any liens, encumbrances, security interests, charges, or rights in rem (subject only to (1) the equity of the Shipyard under the Construction Contract, if any; , (2) liens on any undelivered Vessel which the Shipyard is obligated to discharge under the Construction Contract; , (3) any security interest subordinated to the Secretary's security interest permitted under the Special Provisions hereof; , (4) the Secretary's rights hereunder; hereunder and (5) the liens permitted by paragraph (d)(3) of this Section). The Shipowner shall, for the Secretary's benefit, warrant and defend the title to, and possession of, each Vessel and every part thereof against the claims and demands of all Persons whomsoever.

Title to and Possession of the Vessels. On the date of this Security Agreement, the Shipowner represents and warrants that it lawfully owns each Vessel free from any liens, encumbrances, security interests, charges, or rights in rem (subject only to (1) the equity of the Shipyard under the Construction Contract, if any; , (2) liens on any undelivered Vessel which the Shipyard is obligated to discharge under the Construction Contract; , (3) any security interest subordinated to the Secretary's ’s security interest permitted under the Special Provisions hereof; , (4) the Secretary's ’s rights hereunder; hereunder and (5) the liens permitted by paragraph (d)(3) of this Section). The Shipowner shall, for the Secretary's ’s benefit, warrant and defend the title to, and possession of, each Vessel and every part thereof against the claims and demands of all Persons whomsoever.