Extract to table

This is a fundamental issue: a New York law ship mortgage may not be recordable in the Greek, Cypriot, or marshall Islands ship registries, and the governing law of each mortgage must correspond to the law of the flag state of the relevant vessel to ensure enforceability and recordability

The form must accommodate both jurisdictional frameworks

The Mortgagee under each ship mortgage in the Mortgage Suite must be Pinnacle Trust, acting as Collateral Agent — not Meridian Atlantic, acting as Administrative Agent

1 Defined Terms Unless otherwise defined herein, capitalized terms used in this Mortgage shall have the meanings ascribed to such terms in the Credit Agreement

9 [Conforming]: We request inclusion of a defined term for "Required Lenders" with a cross-reference to the Credit Agreement: "'Required Lenders' shall have the meaning ascribed to such term in the Credit Agreement

If the Lenders' counsel prefers to retain earnings in the granting clause, we request insertion of a clarification that, as between this Mortgage and the Assignment of Earnings, the Assignment of Earnings shall have priority with respect to the assignment of earnings and that the provisions of this Mortgage shall not be construed to modify or supersede the terms of the Assignment of Earnings