Additional Vessels. Where the Borrower wishes to borrow an Advance of Tranche C in relation to the proposed purchase of a vessel by a Guarantor, the Borrower shall notify the Lender (i) the name of such vessel, (ii) the general description and deadweight tonnage (which shall not be less than 45,000 deadweight tons), (iii) the age of such vessel (which on the Final Payment Date would not be more than 15 years old), (iv) the identity of the current owner, (v) the identity of the Guarantor, (vi) the purchase price of such vessel paid or to be paid by such Guarantor, and (vii) such further information as the Lender may require. If available, the Borrower shall also provide the Lender with a true and complete copy of the relevant Memorandum of Agreement or equivalent agreement for such vessel. The Lender shall, as soon as reasonably practical, notify the Borrower of the Lender’s acceptance or rejection of such vessel for the purposes of an Advance of Tranche C, which acceptance or rejection shall be in the absolute discretion of the Lender, taking into account, among other things, (a) the employment of such vessel, (b) the ability of forecast earnings of such vessel being able to amortize the debt incurred with respect thereto for the period from the fifth anniversary of the date of the drawdown of the first Advance through the Final Payment Date, including the balloon, within an acceptable percentage of historical averages and (c) the Lender’s satisfaction in its sole discretion as to the Borrower’s ability to raise additional capital via the equity markets of an amount acceptable to the Lender. In the absence of any acceptance of a vessel being notified, the Lender shall be under no obligation to make any Advance for such vessel.
Additional Vessels. Upon the acquisition by any Borrower after the Amendment Effective Date of any vessel documented under the Laws of the United States of America, promptly provide to the Administrative Agent a duly executed preferred ship mortgage in the form of the Preferred Ship Mortgage covering such vessel, and upon the acquisition after the Amendment Effective Date of any vessel that is not so documented, promptly provide to the Administrative Agent such other appropriate Collateral Documents with respect thereto as the Administrative Agent may request, together in each case with such related legal opinions, certificates and other documentation as the Administrative Agent or Requisite Lenders may reasonably request.
Additional Vessels. Borrower shall cause any vessel, which for the avoidance of doubt shall include any rig or barge, not listed in Schedule 4.01(w), and which is owned by Borrower, any of its Subsidiaries or any Subsidiary Guarantor, to become subject to a Barge Mortgage and to become Collateral hereunder, subject to delivery to the Administrative Agent of the following items:
(i) a Barge Mortgage or a supplement to an existing Barge Mortgage for such newly acquired vessel, together with evidence that each such Barge Mortgage or supplement has been duly filed for recordation with the National Vessel Documentation Center or any successor thereto and is in full force and effect as of the date of addition of such vessel.
(ii) an assignment of insurance for such vessel.
(iii) an assignment of earnings for such vessel.
(iv) Appraisal of the value of such vessel as determined in accordance with the appraisal procedures set forth in the applicable Barge Mortgage.
(v) Certificate of each Loan Party, signed on behalf of such Loan Party by a duly authorized officer of such Loan Party, stating that:
(A) the representations and warranties contained in each Loan Document are correct on and as of the date of addition of such vessel, before and after giving effect to addition of such vessel; and
(B) no event has occurred and is continuing, or would result from the addition of such vessel, that constitutes a Default.
(vi) Favorable opinion of counsel for the Loan Parties as to such other matters as the Administrative Agent may reasonably request.
(vii) a Guaranty Supplement and a Security Agreement duly executed by each Person who, prior to such execution, was not a Guarantor or not a Grantor under the Security Agreement, and who has any ownership interest in such vessel.
(viii) Acknowledgement copies or stamped receipt of credit under the Uniform Commercial Code and similar filings of all jurisdictions that the Administrative Agent may deem necessary or desirable in order to perfect and protect the second priority liens (subject only to Permitted Priority Liens) and security interests created under the applicable Assignments of Insurance, Assignment of Earnings and other applicable Collateral Documents relating to such vessel, and such other items and legal opinions as the Administrative Agent may reasonably require, as are referred to in Section 3.01(a).
Additional Vessels. Upon the acquisition by Parent or any Restricted Subsidiary after the Closing Date of any vessel documented under the Laws of the United States of America, promptly provide to the Administrative Agent a duly executed preferred ship mortgage in the form of the Preferred Ship Mortgage covering such vessel, and upon the acquisition after the Closing Date of any vessel that is not so documented, promptly provide to the Administrative Agent such other appropriate Collateral Documents with respect thereto as the Administrative Agent may request, together in each case with such related legal opinions, certificates and other documentation as the Administrative Agent or Requisite Lenders may reasonably request.
Additional Vessels. Where the Borrower wishes to borrow an Advance of Tranche C in relation to the proposed purchase of a vessel by a Guarantor, the Borrower shall notify the Lender (i) the name of such vessel (ii) the general description and deadweight tonnage (which shall be between 25,000 and 85,000 deadweight tons), (iii) the age of such vessel (which shall not be greater than ten years at the date of the proposed purchase), (iv) the identity of the current owner, (v) the identity of the Guarantor, (vi) the purchase price of such vessel paid or to be paid by such Guarantor, and (vii) such further information as the Lender may require. If available, the Borrower shall also provide the Lender with a true and complete copy of the relevant Memorandum of Agreement for such vessel. The Lender shall, as soon as reasonably practical, notify the Borrower of the Lender’s acceptance or rejection of such vessel for the purposes of an Advance of Tranche C, which acceptance or rejection shall be in the absolute discretion of the Lender, taking into account, among other things, (a) the employment of such vessel, and (b) the Lender’s satisfaction in its sole discretion as to the Borrower’s ability to raise additional capital via the equity markets of an amount acceptable to the Lender. In the absence of any acceptance of a vessel being notified, the Lender shall be under no obligation to make any Advance for such vessel.
Additional Vessels a) Grandeur and Enchantment. RCCL has the option to add its vessels, ------------------------ GRANDEUR OF THE SEAS (delivery scheduled for December 1996) and ENCHANTMENT OF THE SEAS (delivery scheduled for July 4, 1997), or either one of them, as additional vessels under this Agreement. Such additional vessels shall be governed by the same terms and conditions contained in this Agreement and, if added, shall be considered a "Vessel" as said term is defined in this Agreement. Either party may cancel this Agreement, without cause, as to those additional vessels upon six (6) months prior written notice to the other party; provided, -------- however, such notice cannot be given as to such vessels until at least ------- one (1) year after installation of the System on the vessel. RCCL shall give SEAVISION notice of its desire to add the System on these vessels at least fourteen (14) weeks in advance of the required installation date.
Additional Vessels a) Grandeur and Enchantment. RCCL has the option to add its vessels, ------------------------ GRANDEUR OF THE SEAS (delivery scheduled for December 1996) and ENCHANTMENT OF THE SEAS (delivery scheduled for July 4, 1997), or either one of them, as additional vessels under this Agreement. Such additional vessels shall be governed by the same terms and conditions contained in this Agreement and, if added, shall be considered a "Vessel" as said term is defined in this Agreement. [Redacted - confidential treatment requested]
b) [Redacted - confidential treatment requested]
c) [Redacted - confidential treatment requested]
Additional Vessels. Except in the case of a Fleet Acquisition, when STX acquires additional vessels calling at U.S Ports and STX Pos Ship Management assumes technical management of the vessels, it shall perform an audit of the environmental capabilities of each vessel within 60 days of acquisition or assumption of technical management in accordance with the same audit requirements contained in Section VII of this ECP.
Additional Vessels. The Borrowers shall not and shall procure that the New Corporate Guarantor or any of its subsidiaries do not purchase any additional vessels without the prior written consent of the Agent acting on the instructions of the Majority Lenders.
Additional Vessels. 57 5.13 [Intentionally Omitted]....................................................................58 5.14
