Requisition Compensation shall be held by it upon trust in the first place to pay or make good the Expenses and the balance shall be applied in the manner specified in clause 14.1 of the Loan Agreement.
Requisition Compensation to provide that Requisition Compensation is applied in accordance with Section 8 hereof as if received in respect of the sale of the Vessel;
Requisition Compensation shall (subject to the First General Assignment) be held by it upon trust in the first place to pay or make good the Expenses and the balance shall be applied by the Mortgagee in the manner specified in clause 2.10 of the Corporate Guarantee.
Requisition Compensation shall be held by it upon trust in the first place to pay or make good the Expenses and the balance shall be applied by the Mortgagee in the manner specified in clause 2.10 of the Corporate Guarantee.
Requisition Compensation includes all compensation or other moneys payable by reason of any act or event such as is referred to in paragraph of the definition of " Total Loss ". " Resolution Authority " means any body which has authority to exercise any Write -down and Conversion Powers. "
Requisition Compensation. In the event of the requisition for title or other compulsory acquisition of the Vessel by any government the Owner undertakes to execute any assignment of the Requisition Compensation requested by the Mortgagee and if such Requisition Compensation is paid to the Owner to hold all amounts so received on trust for the Mortgagee.
Requisition Compensation. Subject to the rights of the First Mortgagee under the First Mortgage and the First Deed of Assignment, in the event that the title or ownership of the Vessel shall be requisitioned, purchased or taken by any government of any country or any department, agency or representative thereof, pursuant to any present or future law, proclamation, decree, order or otherwise, the lien of this Second Mortgage shall be deemed to attach to the claim for compensation therefore, and the compensation is hereby agreed to be payable to the Second Mortgagee, who shall be entitled to receive the same and shall apply it as provided in Section 9 of this Article III. In the event of any such requisition, purchase or taking, the Owner shall promptly execute and deliver to the Second Mortgagee such documents, if any, as in the opinion of the Second Mortgagee may be necessary or useful to facilitate or expedite the collection by the Second Mortgagee of such compensation, purchase price, reimbursement or award as is payable to them hereunder.
Requisition Compensation includes all compensation or other moneys payable by reason of any act or event such as is referred to in paragraph
Requisition Compensation shall be paid over to the Agent who shall hold them upon trust in the first place to pay or make good the Expenses and the balance shall be applied in the manner specified in clause 2.10 of the Collateral Guarantee.
