Common use of Vessel Delivery Clause in Contracts

Vessel Delivery. The Facility Agent shall be satisfied that satisfactory arrangements have been made for (x) the registration of the relevant Vessel in the name of the applicable Borrower under the United States or Panamanian flag (as applicable), (y) the execution of its Mortgage or Mortgages (as applicable) and (z) the recordation of its Mortgage or Mortgages (as applicable) with the National Vessel Documentation Center of the United States Coast Guard or the appropriate authorities in the Republic of Panama (as applicable).

Vessel Delivery. The Facility Agent shall be satisfied that satisfactory arrangements have been made for (x) the registration of the relevant Vessel in the name of the applicable Borrower under the Panamanian or United States or Panamanian flag (as applicable)flag, (y) the execution of its the Mortgage or Mortgages (as applicable) and (z) the recordation of its the Mortgage or Mortgages (as applicable) with the National Vessel Documentation Center of the United States Coast Guard or the appropriate authorities in the Republic of Panama or the Republic of the Marshall Islands (as applicable), in each case on the opening of business on the Banking Day immediately following the d▇▇▇▇▇▇▇ of the Vessel to the Borrower.