that they understand and accept that the OMTPL, through its website, only facilitates the meeting of lenders and borrowers and that it is in no way responsible or liable for the accuracy of the information provided by lenders and borrowers on the website, the granting of credits or the repayment of credits used by borrowers. In deciding how to remedy that inconsistency, the Court took account of the established principle that, in the event of an inconsistency between the recitals and the content of a contract, the contracting party prevails. As such, the correct design of the Covenant Deed and the mortgage was therefore that the EUR 5 million limit would apply only to the amount of capital due under the loan facility and that the interest, costs and recovery costs guaranteed by the Covenant Deed would not be limited. „loan“ means the amount of the loan or financial assistance indicated in the loan agreement and, if there is more than one lender, the loan in respect of each lender is the amount of the loan or financial assistance indicated against the name of that lender in the loan agreement. In addition, the court looked beyond these two documents and examined the background against which the agreement of the parties and which must be interpreted to support this construction, in particular the court looked at a secondary letter in which it was said: „The yacht mortgage is now limited to a nominal amount of € 5,000,000“. This is another indication of the parties` intention that the limit applies only to the principal amount and not to the amount or costs and expenses of collection. „trust agreement“ means the agreement of June 30, 2017, which was entered into between OMTPL, the agent and the trustee for the purpose of creating the trust account. Often, for contracts, loan documents or security documents, the recitals preceded the operational provisions. They are usually not automatically part of the legally binding operational agreement between the parties, but may be considered useful by a third party (e.g. B a court) to determine the true intent of the parties, as in this case. However, it is important to consider all the documents and circumstances as a whole, as the court did, in order to have as accurate an idea as possible of the parties` intentions. Lenders are entitled to the deposit and set-off that lenders may use at any time, without prejudice to their specific rights of other agreements, at their discretion and without informing the borrower, to use all funds that belong to the borrower and that are/deposited with the lenders or that are due by the lenders to the borrower. for all contributions and outstanding amounts of lenders under or in respect of a credit facility, including all fees/charges/fees payable under this loan agreement.

B. The borrower has applied for a loan on the website and the lenders have agreed to finance an amount as mentioned above, based on the borrower`s commitments and the insurance and guarantees it contains. (b) This loan agreement constitutes, together with the transaction documents, the entire agreement between the parties. OMTPL results from breaches under clause 7 of this Loan Agreement and/or breach/breach of transaction documents by the Borrower and/or breach/breach of the Terms and Conditions of Sale by the Borrower and/or the Borrower`s failure to comply with applicable laws, rules and regulations or agreements in force. One of the discussions in the context of the judgment, which was ultimately blurred by the Admiralty Tribunal at its conclusion, concerned the apparent contradiction between the provisions of the recitals in the mortgage and the operational provisions of the security documentation as a whole in the deed. . . .