Covenants for title. The Owner covenants for the benefit of the Mortgagee that: (a) it is the sole absolute legal and beneficial owner of the Vessel and has the right to mortgage and charge the Vessel pursuant to the terms of this Deed and the Mortgage; (b) it is mortgaging and charging the Vessel free from all other encumbrances (save for any Second Priority Security) and free from all rights exercisable by third parties; and (c) it will, at its own cost, do all that it reasonably can to give the Mortgagee the security interest in the Vessel conferred by this Deed and/or the Mortgage.
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Sources: Credit Facility Agreement (Trico Marine Services Inc)
Covenants for title. The Owner Mortgagor covenants for the benefit of the Mortgagee that:
(a) it is the sole absolute legal and beneficial owner of the Vessel and has the right to mortgage and charge the Vessel pursuant to the terms of this Deed and the Mortgage;
(b) it is mortgaging and charging the Vessel free from all other encumbrances (save for any Second Priority Security) and free from all rights exercisable by third parties; and
(c) it will, at its own cost, do all that it reasonably can to give the Mortgagee the security interest in the Vessel conferred by this Deed and/or the Mortgage.
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