Classification society undertaking. Each Borrower shall instruct the classification society referred to in Clause 14.3 (and procure that the classification society undertakes with the Security Trustee) in relation to its Ship:
(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 and any other related records held by the classification society in relation to the Ship owned by that Borrower;
(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 Ship at the offices of the classification society and to take copies of them;
(c) to notify the Security Trustee immediately in writing if the classification society:
(i) receives notification from that Borrower or any person that that Ship’s classification society is to be changed; or
(ii) 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 that 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 thereof, and any remedy period agreed or allowed by the classification society.
Classification society undertaking. If so requested by the Agent, on or before any Drawdown Date, or immediately on any change of Classification Society for any Vessel, irrevocably instruct (in such form as the Agent and the Majority Lenders may require in their sole discretion) the Classification Society of such Vessel to do all or any of the following during the Facility Period (and use reasonable endeavours to procure that the Classification Society undertakes with the Agent at such time):
(a) to send to the Agent, following receipt of a written request from the Agent, certified true copies of all original class records held by the Classification Society in relation to that Vessel;
(b) to allow the Agent (or its agents), at any time and from time to time, to inspect the original class and related records of the relevant Owner and that Vessel at the offices of the Classification Society and to take copies of them;
(c) to notify the Agent immediately by email (xxxxxxx@xxxxxxx.xxx) if the Classification Society:
(i) receives notification from the relevant Owner or any person that that Vessel’s Classification Society is to be changed;
(ii) becomes aware of any facts or matters which may result in or have resulted in a change, suspension, discontinuance, withdrawal or expiry of that Vessel’s class under the rules or terms and conditions of that Owner’s or that Vessel’s membership of the classification society; or
(iii) has imposed any requirements or recommendations in respect of the relevant Vessel which have not been complied with in accordance with their terms;
(d) following receipt of a written request from the Agent:
(i) to confirm that the relevant Owner 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 Owner is in default of any of its contractual obligations or liabilities to the classification society, to specify to the Agent in reasonable detail the facts and circumstances of such default, the consequences thereof, and any remedy period agreed or allowed by the classification society.
Classification society undertaking. Each Borrower shall instruct the classification society referred to in Clause 14.3 (and procure that the classification society undertakes with the Agent) in relation to its Ship:
(a) to send to the Agent, following receipt of a written request from the Agent, certified true copies of all original class records and any other related records held by the classification society in relation to its Ship;
(b) to allow the Agent (or its agents), at any time and from time to time, to inspect the original class and related records of its Ship at the offices of the classification society and to take copies of them;
(c) to notify the Agent immediately in writing if the classification society;
(i) receives notification from a Borrower or any person that its Ship's classification society is to be changed; or
(ii) 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 a Borrower's or its Ship's membership of the classification society;
(d) following receipt of a written request from the Agent:
(i) to confirm that a 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 a Borrower is in default of any of its contractual obligations or liabilities to the classification society, to specify to the Agent in reasonable detail the facts and circumstances of such default, the consequences thereof, and any remedy period agreed or allowed by the classification society.
Classification society undertaking. Each Borrower shall instruct the classification society referred to in Clause 14.3:
(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 its 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 its Ship at the offices of the classification society and to take copies of them;
(c) to notify the Security Trustee immediately in writing if the classification society:
(i) receives notification from that Borrower or any other person that its Ship's classification society is to be changed; or
(ii) 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 its Ship's membership of the classification society; and
(d) following receipt of a written request from the Security Trustee:
(i) to confirm that a 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 a 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 undertaking. The Borrower shall, in respect of the Ship instruct the Approved Classification Society (and procure that the Approved Classification Society undertakes with the Security Agent):
Classification society undertaking. The Borrower shall procure that the Owner shall instruct the classification society of the Ship to do all or any of the following after the occurrence of an Event of Default or an event which with the lapse of time of the giving of notice will constitute an Event of Default (and procure that the classification society undertakes with the Lenders at such time):
(a) to send to the Agent, following receipt of a written request from the Agent, certified true copies of all original class records held by the classification society in relation to the Ship;
(b) to allow the Lenders (or their agents), at any time and from time to time, to inspect the original class and related records of the Owner and the Ship at the offices of the classification society and to take copies of them;
(c) to notify the Agent immediately in writing if the classification society:
(i) receives notification from the Owner or any person that the Ship’s classification society is to be changed; or
(ii) becomes aware of any facts or matters which may result in or have resulted in a change, suspension, discontinuance, withdrawal or expiry of the Ship’s class under the rules or terms and conditions of the Owner’s or the Ship’s membership of the classification society;
(d) following receipt of a written request from the Agent:
(i) to confirm that the Owner 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 the Owner is in default of any of its contractual obligations or liabilities to the classification society, to specify to the Agent in reasonable detail the facts and circumstances of such default, the consequences thereof, and any remedy period agreed or allowed by the classification society.
Classification society undertaking. At any time after an Event of Default has occurred which is continuing, the Borrower (if instructed to do so by the Agent) shall instruct the Ship’s classification society:
Classification society undertaking. Each Borrower shall instruct (by sending a letter in the form set out in Part A of Schedule 9 (Classification Society Undertaking) the Approved Classification Society and procure that the Approved Classification Society undertakes with the Security Agent by entering into an undertaking in the form set out in Part B of Schedule 9 (Classification Society Undertaking):
Classification society undertaking. Each Borrower shall instruct the classification society referred to in Clause 14.3 (and procure that the classification society undertakes with the Security Trustee) in relation to its Ship:
(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 and any other related records held by the classification society in relation to the Ship owned by that Borrower;
(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 Ship at the offices of the classification society and to take copies of them;
(c) to notify the Security Trustee immediately in writing if the classification society: receives notification from that Borrower or any person that that Ship’s classification society is to be changed; or
Classification society undertaking. Each Borrower shall, upon a reasonable written request from the Administrative Agent:
(a) obtain from the American Bureau of Shipping and provide to the Administrative Agent certified true copies of all original class records held by such classification society in relation to the Drilling Unit owned by such Borrower;
(b) arrange for the Administrative Agent (or its agents), at any time and from time to time reasonably requested, to inspect (with the participation of such Borrower) such Borrower’s Drilling Unit’s original class and related records at the offices of such classification society and to take copies of them; and
(c) notify the Administrative Agent immediately in writing if:
(i) such Borrower or, to the best of its knowledge, any other Person notifies such classification society that such Borrower’s Drilling Unit’s classification society is to be changed; or
(ii) such Borrower becomes aware of any facts or matters which may result in, or have resulted in, a change, suspension, discontinuance, withdrawal or expiry of the class of such Borrower’s Drilling class under the rules or terms and conditions of such Borrower’s or its Drilling Unit’s membership in such classification society and shall send to the Administrative Agent any documents, reports and any other information that such Borrower receives from such classification society with respect to such facts or matters.
