Removal of Liens. Except for the lien of this Mortgage, the Shipowner will not suffer to be continued any lien, encumbrance or charge on the Rig, and in due course the Shipowner will pay or cause to be discharged or make adequate provision for the satisfaction or discharge of all claims or demands, and will cause the Rig to be released or discharged from any lien, encumbrance or charge therefor, other than Permitted Collateral Liens.
Appears in 4 contracts
Samples: Indenture (Transocean Ltd.), Account Pledge Agreement (Transocean Ltd.), Share Pledge Agreement (Transocean Ltd.)
Removal of Liens. Except for the lien of security interest created by this Mortgage, the Shipowner will not suffer to be continued exist any lien, encumbrance or charge on the RigVessel, which is not a Permitted Lien and in due course the Shipowner will pay or cause to be discharged or make adequate provision for the satisfaction or discharge of all claims or demands, and will cause the Rig Vessel to be released or discharged from any lien, encumbrance or charge therefor, other than Permitted Collateral Lienstherefor in accordance with the terms of the Credit Agreement.
Appears in 2 contracts
Samples: Global Assignment Agreement (Gener8 Maritime, Inc.), Global Assignment Agreement (Gener8 Maritime, Inc.)
Removal of Liens. Except for the lien of security interest created by this MortgageDeed, the Shipowner will not suffer to be continued exist any lien, encumbrance or charge on the RigVessel, which is not a Permitted Lien and in due course the Shipowner will pay or cause to be discharged or make adequate provision for the satisfaction or discharge of all claims or demands, and will cause the Rig Vessel to be released or discharged from any lien, encumbrance or charge therefor, other than Permitted Collateral Lienstherefor in accordance with the terms of the Credit Agreement.
Appears in 1 contract
Samples: Global Assignment Agreement (Gener8 Maritime, Inc.)
