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Deed Of Covenant To Accompany Statutory Mortgage Of Ship

Category : Agreements Shipping

THIS DEED OF COVENANT is made the day of between M s AB Co Ltd a company registered under the companies Act 1956 having its registered office at hereinafter called the Mortgagor of the one part and Bank of a banking corporation constituted under the Banking Companies Acquisition and Transfer of Undertaking Act 1970 and having its Head Office at here in after called the Mortgagee of the other part WHEREAS 1 The mortgagor is the absolute and unencumbered owner of all the shares of and in the ship by name and which is more particularly described in the schedule hereunder written and is hereinafter referred to as the said ship 2 The mortgagees have lent to the mortgagor the sum of Rs upon having the same secured by a statutory mortgage of the said ship and upon the terms hereinafter set out and the mortgagor has executed a statutory mortgage of the said ship bearing even date with this dee...