Common use of Title; negative pledge Clause in Contracts

Title; negative pledge. Each Borrower will: (a) as from the relevant Delivery Date, hold the legal title to, and own the entire beneficial interest in the Ship owned by it, her Insurances and Earnings, free from all Security Interests and other interests and rights of every kind, except for those created by the Finance Documents and the effect of assignments contained in the Finance Documents and except for Permitted Security Interests; and (b) not create or permit to arise any Security Interest (except for Permitted Security Interests) over any other asset, present or future (including, but not limited to, that Borrower’s rights against the Swap Bank under the Master Agreement or all or any part of that Borrower’s interest in any amount payable to that Borrower by the Swap Bank under the Master Agreement).

Title; negative pledge. Each Borrower will: (a) as from the relevant Delivery Date, hold the legal title to, and own the entire beneficial interest in the Ship owned by it, her Insurances and Earnings, free from all Security Interests and other interests and rights of every kind, except for those created by the Finance Documents and the effect of assignments contained in the Finance Documents and except for Permitted Security Interests; and (b) not create or permit to arise any Security Interest (except for Permitted Security Interests) over any other asset, present or future (including, but not limited to, that Borrower’s 's rights against the Swap eachSwap Bank under the Master relevantMaster Agreement or all or any part of that Borrower’s 's interest in any amount payable to that Borrower by the that Swap Bank under the relevant Master Agreement).

Title; negative pledge. Each Borrower will: (a) as from the relevant Delivery Date, hold the legal title to, and own the entire beneficial interest in the Ship owned by it, her Insurances and Earnings, free from all Security Interests and other interests and rights of every kind, except for those created by the Finance Documents and the effect of assignments contained in the Finance Documents and except for Permitted Security Interests; and (b) not create or permit to arise any Security Interest (except for Permitted Security Interests) over any other asset, present or future (including, but not limited to, that Borrower’s 's rights against the Swap Bank under the Master Agreement or all or any part of that Borrower’s 's interest in any amount payable to that Borrower by the Swap Bank under the Master Agreement).

Title; negative pledge. Each Borrower will: (a) as from the relevant Delivery Date, hold the legal title to, and own the entire beneficial interest in the Ship owned by it, her Insurances and Earnings, free from all Security Interests and other interests and rights of every kind, except for those created by the Finance Documents and the effect of assignments contained in the Finance Documents and except for Permitted Security Interests; and (b) not create or permit to arise any Security Interest (except for Permitted Security Interests) over any other asset, present or future (including, but not limited to, that Borrower’s 's rights against the Swap eachSwap Bank under the Master relevantMaster Agreement or all or any part of that Borrower’s 's interest in any amount payable to that Borrower by the Swap thatSwap Bank under the relevant Master Agreement).