Class and International Regulations. (a) The Borrower shall procure that the Vessel is classified and maintained in class with the highest possible class notation, free of overdue recommendations, with a classification society that is a member of the International Association of Classification Societies, and at all times comply with the rules and regulations of the relevant class society. Furthermore, the Borrower shall at all times ensure Compliance with all requirements of the International Convention for Safety of Life at Sea (SOLAS) 1974 as adopted, amended or replaced from time to time including, but not limited to, the STCW 95, the ISM Code and/or the ISPS Code (as each is defined in the respective amendments to SOLAS). Upon receipt of the Agent’s written request, the Borrower shall instruct the classification society to send to the Agent, copies of all information, documents and class records held by the classification society in relation to the Vessel. (b) The Borrower shall not change the Vessel’s class without the prior written consent of the Lenders.
Appears in 4 contracts
Samples: Loan and Guarantee Facility Agreement (KNOT Offshore Partners LP), Loan and Guarantee Facility Agreement (KNOT Offshore Partners LP), Loan and Guarantee Facility Agreement (KNOT Offshore Partners LP)
Class and International Regulations. (a) The Borrower shall procure that the Vessel is classified and maintained in class with the highest possible class notation, free of overdue recommendations, with a classification society that is a member of the International Association of Classification Societies, and at all times comply with the rules and regulations of the relevant class society. Furthermore, the Borrower shall at all times ensure Compliance with all requirements of the International Convention for Safety of Life at Sea (SOLAS) 1974 1874 as adopted, amended or replaced from time to time including, but not limited to, the STCW 95, the ISM Code and/or the ISPS Code (as each is defined in the respective amendments to SOLAS). Upon receipt of the Agent’s written request, the Borrower shall instruct the classification society to send to the Agent, copies of all information, documents and class records held by the classification society in relation to the Vessel.
(b) The Borrower shall not change the Vessel’s class without the prior written consent of the Lenders.
Appears in 3 contracts
Samples: Term Loan Facility Agreement (KNOT Offshore Partners LP), Second Supplemental Agreement, Second Supplemental Agreement (KNOT Offshore Partners LP)
