Legal validity; effective Security Interests. The Finance Documents to which the Borrower is a party, do now or, as the case may be, will, upon execution and delivery (and, where applicable, registration as provided for in the Finance Documents):
Legal validity; effective Security Interests. Subject to any relevant insolvency laws affecting creditors’ rights generally:
Legal validity; effective Security Interests. The Finance Documents and the Master Agreement to which it is a party, do now or, as the case may be, will, upon execution and delivery (and, where applicable, registration as provided for in the Finance Documents):
Legal validity; effective Security Interests. This Deed and the Assigned Contracts to which the Bareboat Charterer is a party:
Legal validity; effective Security Interests. This Deed and the Assigned Contracts to which Pacific Rim is a party:
Legal validity; effective Security Interests. This Deed and the Assigned Contracts to which TBS Worldwide is a party:
Legal validity; effective Security Interests. The Guarantor’s Documents do now, or, as the case may be, will upon execution and delivery (and, where applicable, registration as provided for in the Finance Documents):
Legal validity; effective Security Interests. (a) Each Bareboat Charter and Finance Document to which each Obligor is a party do now or, as the case may be, will, upon execution and delivery (and, where applicable, registration as provided for in the Finance Documents) constitute such Obligor’s legal, valid and binding obligations enforceable against it in accordance with their respective terms (subject, in the case of each Bareboat Charter, to the relevant Memorandum of Three Party Agreement); and
Legal validity; effective Security Interests. This Agreement constitutes, and each other of the Transaction Documents to which any Obligor is or will be a party, upon execution and delivery thereof will constitute, the legal, valid and binding obligations of the Obligor which is a party thereto, enforceable in accordance with its terms except as such enforcement may be limited by any applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.
Legal validity; effective Security Interests. The Finance Documents to which that Borrower is a party, do now or, as the case may be, will, upon execution and delivery (and, where applicable, registration as provided for in the Finance Documents): constitute that Borrower’s legal, valid and binding obligations enforceable against that Borrower in accordance with their respective terms; and create legal, valid and binding Security Interests enforceable in accordance with their respective terms over all the assets to which they, by their terms, relate, subject to any relevant insolvency laws affecting creditors’ rights generally. No third party Security Interests Without limiting the generality of Clause 10.6, at the time of the execution and delivery of each Finance Document to which a Borrower is a party: each Borrower will have the right to create all the Security Interests which that Finance Document purports to create; and no third party will have any Security Interest (except for Permitted Security Interests) or any other interest, right or claim (other than in relation to the Indenture) over, in or in relation to any asset to which any such Security Interest, by its terms, relates. No conflicts The execution by a Borrower of each Finance Document to which it is a party, and the borrowing by that Borrower of the Loan, and its compliance with each Finance Document to which it is a party will not involve or lead to a contravention of: any law or regulation; or the constitutional documents of that Borrower; or any contractual or other obligation or restriction which is binding on that Borrower or any of its assets. No withholding taxes All payments which each Borrower is liable to make under the Finance Documents to which it is a party may be made without deduction or withholding for or on account of any tax payable under any law of any Pertinent Jurisdiction.
