Classification Society instructions and undertaking Sample Clauses
The 'Classification Society instructions and undertaking' clause establishes the requirement for a vessel owner or operator to comply with the rules, instructions, and recommendations issued by the vessel's classification society. In practice, this means the owner must ensure that the ship is maintained and operated in accordance with the standards set by the classification society, including following any specific instructions for repairs, surveys, or modifications. This clause serves to ensure the vessel remains in class, which is essential for its seaworthiness, insurance coverage, and legal compliance, thereby reducing operational and legal risks for all parties involved.
Classification Society instructions and undertaking. Each Borrower shall instruct the Classification Society referred to in Clause 14.3(b) and procure that the Classification Society undertakes with the Security Trustee:
(a) to send to the Security Trustee, following receipt of a written request from the Security Trustee, certified true copies of all original class records held by the Classification Society in relation to that Borrower’s Ship;
(b) to allow the Security Trustee (or its agents), at any time and from time to time, to inspect the original class and related records of that Borrower and the Ship owned by it either (i) electronically (through the Classification Society directly or by way of indirect access via the Borrowers’ account manager and designating the Security Trustee as a user or administrator of the system under its account) or (ii) in person at the offices of the Classification Society, and to take copies of them electronically or otherwise;
(c) to notify the Security Trustee immediately by Email to n▇▇▇.▇▇▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇.▇▇▇ and t▇▇▇▇▇▇@▇▇▇▇▇▇▇.▇▇▇ if the Classification Society:
(i) receives notification from that Borrower or any other person that such Ship’s Classification Society is to be changed;
(ii) imposes a condition of class or issues a class recommendation in respect of that Ship; or
(iii) becomes aware of any facts or matters which may result in or have resulted in a change, suspension, discontinuance, withdrawal or expiry of that Ship’s class under the rules or terms and conditions of that Borrower’s or that Ship’s membership of the Classification Society;
(d) following receipt of a written request from the Security Trustee:
(i) to confirm that such Borrower is not in default of any of its contractual obligations or liabilities to the Classification Society and, without limiting the foregoing, that it has paid in full all fees or other charges due and payable to the Classification Society; or
(ii) if that Borrower is in default of any of its contractual obligations or liabilities to the Classification Society, to specify to the Security Trustee in reasonable detail the facts and circumstances of such default, the consequences of such default, and any remedy period agreed or allowed by the Classification Society.
Classification Society instructions and undertaking. The Borrower shall instruct the Classification Society referred to in Clause 14.3(b) and procure that the Classification Society undertakes with the Security Trustee:
Classification Society instructions and undertaking. The Borrower shall instruct the Classification Society through a letter sent by the Borrower to the Classification Society in the form attached hereto as Exhibit H-1 (and procure that the Classification Society undertakes with the Security Trustee through a letter in the form attached hereto as Exhibit H-2):
Classification Society instructions and undertaking. Each Shipowner shall instruct the Classification Society referred to in Section 2(b) above (and procure that the Classification Society undertakes with the Common Security Agent or relevant Existing Security Agent, as applicable,):