Common use of W I T N E S E T H Clause in Contracts

W I T N E S E T H. That under the provisions of Title XI of the Merchant Marine Act, 1936, as amended and in effect on the date hereof (said provisions, as so amended and in effect on the date hereof, being called "Title XI") and in consideration of (i) the covenants of the Shipowner contained herein, (ii) the payment by the Shipowner to the Secretary of the charges for this Guarantee Commitment pursuant to Section 1104(f) of Title XI, and (iii) other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Secretary hereby commits itself as herein provided. The following executed documents are annexed to each counterpart of this Guarantee Commitment: the Security Agreement, the Title XI Reserve Fund and Financial Agreement, and the Depository Agreement. Annexed to each counterpart of this Guarantee Commitment are forms of the Consent of Shipyard, the Credit Agreement, the Indenture, the Obligations, the Authorization Agreement, the Mortgage, and the Secretary's Note. As used herein, the "Closing Date" refers to the date for the execution and delivery of the Obligations as provided in the Credit Agreement annexed hereto, subject to the conditions contained in Article V hereof. The Consent of Shipyard, the Credit Agreement, the Indenture, the Obligations, the Authorization Agreement, and the Secretary's Note (except as otherwise required by the Secretary), shall be executed and delivered substantially in the respective forms annexed hereto, except that the blanks, if any, therein shall be filled in as contemplated therein and herein and, except further that the maturity dates and interest rates of the Obligations must be further approved by the Secretary. The Mortgage shall be executed and delivered substantially in the form annexed hereto on the Delivery Date.

W I T N E S E T H. That under the provisions IN CONSIDERATION OF TEN DOLLARS AND OTHER GOOD AND VALUABLE CONSIDERATION; THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY ACKNOWLEDGED, AND FOR THE PURPOSE OF SECURING in favor of Title XI of the Merchant Marine Act, 1936, as amended and in effect on the date hereof Beneficiary (said provisions, as so amended and in effect on the date hereof, being called "Title XI") and in consideration of (i1) the covenants of the Shipowner contained herein, Obligations; (ii2) the payment of such additional loans or advances as hereafter may be made to Trustor (individually or jointly and severally with any other Person) or its successors or assigns, when evidenced by a promissory note or notes reciting that they are secured by this Deed of Trust; provided, however, that any and all future advances by Beneficiary to Trustor made for the Shipowner to the Secretary improvement, protection or preservation of the charges for this Guarantee Commitment pursuant Trust Estate, together with interest at the rate applicable to Section 1104(f) of Title XI, and (iii) other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Secretary hereby commits itself as herein provided. The following executed documents are annexed to each counterpart of this Guarantee Commitment: the Security Agreement, the Title XI Reserve Fund and Financial Agreement, and the Depository Agreement. Annexed to each counterpart of this Guarantee Commitment are forms of the Consent of Shipyard, overdue principal set forth in the Credit Agreement, shall be automatically secured hereby unless such a note or instrument evidencing such advances specifically recites that it is not intended to be secured hereby and (3) the Indenturepayment of all sums expended or advanced by Beneficiary under or pursuant to the terms hereof or to protect the security hereof (including Protective Advances as such term is defined in Section 4.2 hereof), together with interest thereon as herein provided, Trustor, in consideration of the Obligations, the Authorization Agreement, the Mortgagepremises, and the Secretary's Note. As used herein, the "Closing Date" refers to the date for the execution and delivery purposes aforesaid, does hereby ASSIGN, BARGAIN, CONVEY, PLEDGE, RELEASE, HYPOTHECATE, WARRANT, AND TRANSFER WITH POWER OF SALE UNTO TRUSTEE IN TRUST FOR THE BENEFIT OF BENEFICIARY AND THE BANKS each of the Obligations as provided in the Credit Agreement annexed hereto, subject to the conditions contained in Article V hereof. The Consent of Shipyard, the Credit Agreement, the Indenture, the Obligations, the Authorization Agreement, and the Secretary's Note (except as otherwise required by the Secretary), shall be executed and delivered substantially in the respective forms annexed hereto, except that the blanks, if any, therein shall be filled in as contemplated therein and herein and, except further that the maturity dates and interest rates of the Obligations must be further approved by the Secretary. The Mortgage shall be executed and delivered substantially in the form annexed hereto on the Delivery Date.following:

W I T N E S E T H. That under IN CONSIDERATION OF TEN DOLLARS AND OTHER GOOD AND VALUABLE CONSIDERATION; THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY ACKNOWLEDGED, AND FOR THE PURPOSE OF SECURING in favor of Beneficiary (1) the provisions Obligations; (2) the payment of Title XI such additional loans or advances as hereafter may be made to Trustor (individually or jointly and severally with any other Person) or its successors or assigns, when evidenced by a promissory note or notes reciting that they are secured by this Deed of Trust; provided, however, that any and all future advances by Beneficiary to Trustor made for the improvement, protection or preservation of the Merchant Marine ActTrust Estate, 1936together with interest at the rate applicable to overdue principal set forth in the Mortgage Notes Indenture, as amended shall be automatically secured hereby unless such a note or instrument evidencing such advances specifically recites that it is not intended to be secured hereby and in effect on (3) the date payment of all sums expended or advanced by Beneficiary under or pursuant to the terms hereof or to protect the security hereof (said provisionsincluding Protective Advances as such term is defined in Section 4.2 hereof), together with interest thereon as so amended and in effect on the date hereofherein provided, being called "Title XI") and Trustor, in consideration of (i) the covenants premises, and for the purposes aforesaid, does hereby ASSIGN, BARGAIN, CONVEY, PLEDGE, RELEASE, HYPOTHECATE, WARRANT, AND TRANSFER WITH POWER OF SALE UNTO TRUSTEE IN TRUST FOR THE BENEFIT OF BENEFICIARY AND THE SECOND MORTGAGE NOTE HOLDERS each of the Shipowner contained herein, (ii) the payment by the Shipowner to the Secretary of the charges for this Guarantee Commitment pursuant to Section 1104(f) of Title XI, and (iii) other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Secretary hereby commits itself as herein provided. The following executed documents are annexed to each counterpart of this Guarantee Commitment: the Security Agreement, the Title XI Reserve Fund and Financial Agreement, and the Depository Agreement. Annexed to each counterpart of this Guarantee Commitment are forms of the Consent of Shipyard, the Credit Agreement, the Indenture, the Obligations, the Authorization Agreement, the Mortgage, and the Secretary's Note. As used herein, the "Closing Date" refers to the date for the execution and delivery of the Obligations as provided in the Credit Agreement annexed hereto, subject to the conditions contained in Article V hereof. The Consent of Shipyard, the Credit Agreement, the Indenture, the Obligations, the Authorization Agreement, and the Secretary's Note (except as otherwise required by the Secretary), shall be executed and delivered substantially in the respective forms annexed hereto, except that the blanks, if any, therein shall be filled in as contemplated therein and herein and, except further that the maturity dates and interest rates of the Obligations must be further approved by the Secretary. The Mortgage shall be executed and delivered substantially in the form annexed hereto on the Delivery Date.following:

W I T N E S E T H. That under IN CONSIDERATION OF TEN DOLLARS AND OTHER GOOD AND VALUABLE CONSIDERATION; THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY ACKNOWLEDGED, AND FOR THE PURPOSE OF SECURING in favor of Beneficiary (1) the provisions of Title XI due and punctual payment of the Merchant Marine Actindebtedness evidenced by the Notes; (2) the performance of each covenant and agreement of Trustor contained in the Mortgage Notes Indenture, 1936herein, in the Mortgage Notes Indenture Security Documents, each other Security Document granting a security interest for the benefit of the Beneficiary is a party and the Funding Agents' Disbursement and Administration Agreement; (3) the payment of such additional loans or advances as amended hereafter may be made to Trustor (individually or jointly and severally with any other Person) or its successors or assigns, when evidenced by a promissory note or notes reciting that they are secured by this Deed of Trust; provided, however, that any and all future advances by Beneficiary to Trustor made for the improvement, protection or preservation of the Trust Estate, together with interest at the rate applicable to overdue principal set forth in effect on Section 4.01 of the date Mortgage Notes Indenture, shall be automatically secured hereby unless such a note or instrument evidencing such advances specifically recites that it is not intended to be secured hereby and (4) the payment of all sums expended or advanced by Beneficiary under or pursuant to the terms hereof or to protect the security hereof (said provisionsincluding Protective Advances as such term is defined in Section 4.2 hereof), together with interest thereon as so amended and in effect on the date hereofherein provided, being called "Title XI") and Trustor, in consideration of (ithe premises, and for the purposes aforesaid, does hereby ASSIGN, BARGAIN, CONVEY, PLEDGE, RELEASE, HYPOTHECATE, WARRANT, AND TRANSFER WITH POWER OF SALE UNTO TRUSTEE IN TRUST FOR THE BENEFIT OF BENEFICIARY, AND THE MORTGAGE NOTE HOLDER(S) the covenants each of the Shipowner contained herein, (ii) the payment by the Shipowner to the Secretary of the charges for this Guarantee Commitment pursuant to Section 1104(f) of Title XI, and (iii) other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Secretary hereby commits itself as herein provided. The following executed documents are annexed to each counterpart of this Guarantee Commitment: the Security Agreement, the Title XI Reserve Fund and Financial Agreement, and the Depository Agreement. Annexed to each counterpart of this Guarantee Commitment are forms of the Consent of Shipyard, the Credit Agreement, the Indenture, the Obligations, the Authorization Agreement, the Mortgage, and the Secretary's Note. As used herein, the "Closing Date" refers to the date for the execution and delivery of the Obligations as provided in the Credit Agreement annexed hereto, subject to the conditions contained in Article V hereof. The Consent of Shipyard, the Credit Agreement, the Indenture, the Obligations, the Authorization Agreement, and the Secretary's Note (except as otherwise required by the Secretary), shall be executed and delivered substantially in the respective forms annexed hereto, except that the blanks, if any, therein shall be filled in as contemplated therein and herein and, except further that the maturity dates and interest rates of the Obligations must be further approved by the Secretary. The Mortgage shall be executed and delivered substantially in the form annexed hereto on the Delivery Date.following:

W I T N E S E T H. That under the provisions IN CONSIDERATION OF TEN DOLLARS AND OTHER GOOD AND VALUABLE CONSIDERATION; THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY ACKNOWLEDGED, AND FOR THE PURPOSE OF SECURING in favor of Title XI of the Merchant Marine Act, 1936, as amended and in effect on the date hereof Beneficiary (said provisions, as so amended and in effect on the date hereof, being called "Title XI") and in consideration of (i1) the covenants of the Shipowner contained herein, Obligations; (ii2) the payment of such additional loans or advances as hereafter may be made to Trustor (individually or jointly and severally with any other Person) or its successors or assigns, when evidenced by a promissory note or notes reciting that they are secured by this Deed of Trust; provided, however, that any and all future advances by Beneficiary to Trustor made for the Shipowner to the Secretary improvement, protection or preservation of the charges for this Guarantee Commitment pursuant Trust Estate, together with interest at the rate applicable to Section 1104(f) of Title XI, and (iii) other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Secretary hereby commits itself as herein provided. The following executed documents are annexed to each counterpart of this Guarantee Commitment: the Security Agreement, the Title XI Reserve Fund and Financial Agreement, and the Depository Agreement. Annexed to each counterpart of this Guarantee Commitment are forms of the Consent of Shipyard, overdue principal set forth in the Credit Agreement, shall be automatically secured hereby unless such a note or instrument evidencing such advances specifically recites that it is not intended to be secured hereby and (3) the Indenturepayment of all sums expended or advanced by Beneficiary under or pursuant to the terms hereof or to protect the security hereof (including Protective Advances as such term is defined in Section 4.2 hereof), together with interest thereon as herein provided (without limiting the Obligationsgenerality of the protections afforded by NRS Chapter 106, funds disbursed that, in the Authorization Agreementreasonable exercise of Beneficiary's judgment, are needed to complete Improvements to the MortgageLand or to protect Beneficiary's security interest in the Trust Estate are to be deemed obligatory advances hereunder and will be added to the total indebtedness secured by this Deed of Trust and such indebtedness shall be increased accordingly), Trustor, in consideration of the premises, and the Secretary's Note. As used herein, the "Closing Date" refers to the date for the execution and delivery purposes aforesaid, does hereby ASSIGN, BARGAIN, CONVEY, PLEDGE, RELEASE, HYPOTHECATE, WARRANT, AND TRANSFER WITH POWER OF SALE UNTO TRUSTEE IN TRUST FOR THE BENEFIT OF BENEFICIARY AND THE BANKS each of the Obligations as provided in the Credit Agreement annexed hereto, subject to the conditions contained in Article V hereof. The Consent of Shipyard, the Credit Agreement, the Indenture, the Obligations, the Authorization Agreement, and the Secretary's Note (except as otherwise required by the Secretary), shall be executed and delivered substantially in the respective forms annexed hereto, except that the blanks, if any, therein shall be filled in as contemplated therein and herein and, except further that the maturity dates and interest rates of the Obligations must be further approved by the Secretary. The Mortgage shall be executed and delivered substantially in the form annexed hereto on the Delivery Date.following: