Common use of Execution of Guarantees Clause in Contracts

Execution of Guarantees. The Borrower shall, or shall cause each of the Collateral Vessel-Owning Subsidiaries to, promptly arrange for the execution and delivery of such guarantees in respect of the Collateral Rigs as may from time to time be required by any protection and indemnity or war risks association in accordance with its rules or the terms of entry of the Collateral Rigs.

Execution of Guarantees. The Borrower shall, or shall cause each of the Collateral Vessel-Owning Subsidiaries Subsidiary(-ies) to, promptly arrange for the execution and delivery of such guarantees in respect of the Collateral Rigs Rig as may from time to time be required by any protection and indemnity or war risks association in accordance with its rules or the terms of entry of the Collateral RigsRig.