Challenge to registration. The registration of the Vessel or the Mortgage is contested or becomes void or voidable or liable to cancellation or termination, or the validity or priority of the Mortgage is contested. This Clause 23.1.18 shall not apply to any challenge or contest which is frivolous or vexatious and is discharged, stayed or dismissed within five days of commencement.
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Sources: Loan Agreement (Scorpio Bulkers Inc.), Secured Loan Agreement (Scorpio Bulkers Inc.)
Challenge to registration. The registration of the a Vessel or the a Mortgage is contested or becomes void or voidable or liable to cancellation or termination, or the validity or priority of the a Mortgage is contested. This Clause 23.1.18 23.1.17 shall not apply to any challenge or contest which is frivolous or vexatious and is discharged, stayed or dismissed within five days of commencement.
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