Common use of Ships' names and registration Clause in Contracts

Ships' names and registration. The Borrower and each Guarantor shall, in respect of the Ship owned by it: (a) keep that Ship registered in its name under the Approved Flag from time to time at its port of registration; (b) not do or allow to be done anything as a result of which such registration might be suspended, cancelled or imperilled; (c) not enter into any dual flagging arrangement in respect of that Ship, without the consent of the Majority Lenders; and (d) not change the name of that Ship, provided that any agreed change of name or flag of a Ship shall be subject to: (i) that Ship remaining subject to Security securing the Secured Liabilities created by a first priority or preferred ship mortgage on that Ship and, if appropriate, a first priority deed of covenant collateral to that mortgage (or equivalent first priority Security) on substantially the same terms as the Mortgage on that Ship and if relevant related Deed of Covenant and on such other terms and in such other form as the Facility Agent, acting with the authorisation of the Majority Lenders, shall approve or require; and (ii) the execution of such other documentation amending and supplementing the Finance Documents as the Facility Agent, acting with the authorisation of the Majority Lenders, shall approve or require.

Ships' names and registration. The Each Borrower and each Guarantor shall, in respect of the Ship owned by it: (a) keep that Ship registered in its name under the Approved Flag from time to time at its port of registration; ; (b) not do or allow to be done anything as a result of which such registration might be suspended, cancelled or imperilled; ; (c) not enter into any dual flagging arrangement in respect of that Ship, without the consent of the Majority Lenders; and and (d) not change the name of that Ship, provided Provided that any agreed change of name or flag of a Ship shall be subject to: : (i) that Ship remaining subject to Security securing the Secured Liabilities created by a first priority or preferred ship mortgage on that Ship and, if appropriate, a first priority deed of covenant collateral to that mortgage (or equivalent first priority Security) on substantially the same terms as the Mortgage on that Ship and and, if relevant applicable, related Deed of Covenant and on such other terms and in such other form as the Facility Agent, acting with the authorisation of the Majority Lenders, shall approve or require; and ; (ii) the issuance of legal opinions in respect of such new flag, the enforceability of the new Finance Documents and the capacity of the Transaction Obligors signing those Finance Documents each in a form and substance satisfactory to the Lenders; and (iii) the execution of such other documentation amending and supplementing the Finance Documents as the Facility Agent, acting with the authorisation of the Majority Lenders, shall approve or require.

Ships' names and registration. The Each Borrower and each Guarantor shall, in respect of the Ship owned by it: (a) keep that Ship registered in its name under the Approved Flag from time to time at its port of registration; ; (b) not do or allow to be done anything as a result of which such registration might be suspended, cancelled or imperilled; ; (c) not enter into any dual flagging arrangement in respect of that Ship, without the consent of the Majority Lenders; and and (d) not change the name of that ShipShip without the prior written consent of the Facility Agent (such written consent not to be unreasonably withheld), provided that any agreed change of name or flag of a Ship shall be subject to: : (i) that Ship remaining subject to Security securing the Secured Liabilities created by a first priority or preferred ship mortgage on that Ship and, if appropriate, a first priority deed of covenant collateral to that mortgage (or equivalent first priority Security) on substantially the same terms as the Mortgage on that Ship and if relevant related Deed of Covenant and on such other terms and in such other form as the Facility Agent, acting with the authorisation of the Majority Lenders, shall approve or require; and and (ii) the execution of such other documentation amending and supplementing the Finance Documents as the Facility Agent, acting with the authorisation of the Majority Lenders, shall approve or require.