Closing and Delivery. The closing of the delivery of, and transfer of title to, the Vessel by the Seller to the Buyer shall take place on the Delivery Date after payment is received by Seller and is confirmed to be received in accordance with Clause 3, at a place designated by OSG Ship Management, Inc. The Seller's obligation to sell the Vessel and the Buyer's obligation to purchase the Vessel shall be conditioned upon delivery of (i) a time charter agreement and related charter framework agreement as described in the prospectus related to the initial public offering of shares by DHT by each of the parties thereto and (ii) a final underwriting agreement related to the initial public offering of shares of DHT by each of Overseas Shipholding Group, Inc., DHT and the underwriters party thereto. The Seller shall keep the Buyer informed about the Vessel’s schedule. At such closing: A. Seller shall deliver to Buyer the following documents: 1. Original notarized xxxx of sale in triplicate, in proper form for recording with the Xxxxxxxx Islands authorities, transferring title to the vessel and everything belonging to her (unless excluded herein) to the Buyer free from all debts, claims, encumbrances, mortgages, and maritime liens and warranting such title. 2. Certificate of ownership and encumbrance issued by the Xxxxxxxx Islands authorities dated on the Delivery Date evidencing ownership of the vessel by the Seller free and clear from all liens and encumbrances of record. 3. Permission from the Xxxxxxxx Islands authorities to transfer the Vessel to the Buyer for re-registration under Xxxxxxxx Islands flag. 4. Copies of Seller’s Articles of Incorporation and By-laws and an incumbency certificate of the Seller.
Appears in 6 contracts
Samples: Memorandum of Agreement (Double Hull Tankers, Inc.), Memorandum of Agreement (Double Hull Tankers, Inc.), Memorandum of Agreement (Double Hull Tankers, Inc.)
Closing and Delivery. The closing of the delivery of, and transfer of title to, the Vessel by the Seller to the Buyer shall take place on the Delivery Date after payment is received by Seller and is confirmed to be received in accordance with Clause 3, at a place designated by OSG Ship Management, Inc. The Seller's obligation to sell the Vessel and the Buyer's obligation to purchase the Vessel shall be conditioned upon delivery of (i) a time charter agreement and related charter framework agreement as described in the prospectus related to the initial public offering of shares by DHT by each of the parties thereto and (ii) a final underwriting agreement related to the initial public offering of shares of DHT by each of Overseas Shipholding Group, Inc., DHT and the underwriters party thereto. The Seller shall keep the Buyer informed about the Vessel’s schedule. At such closing:
A. Seller shall deliver to Buyer the following documents:
1. Original notarized xxxx of sale in triplicate, in proper form for recording with the Xxxxxxxx Islands authorities, transferring title to the vessel and everything belonging to her (unless excluded herein) to the Buyer free from all debts, claims, encumbrances, mortgages, and maritime liens and warranting such title.
2. Certificate of ownership and encumbrance issued by the Xxxxxxxx Islands authorities dated on the Delivery Date evidencing ownership of the vessel by the Seller free and clear from all liens and encumbrances of record.
3. Permission from the Xxxxxxxx Islands authorities to transfer the Vessel to the Buyer for re-registration under Xxxxxxxx Islands flag.
4. Copies of Seller’s Articles of Incorporation and By-laws and an incumbency certificate of the Seller.
Appears in 1 contract
Samples: Memorandum of Agreement (Double Hull Tankers, Inc.)
Closing and Delivery. The closing of the delivery of, and transfer of title to, the Vessel by the Seller to the Buyer shall take place on the Delivery Date after payment is received by Seller and is confirmed to be received in accordance with Clause 3, at a place designated by OSG Ship Management, Inc. The Seller's obligation to sell the Vessel and the Buyer's obligation to purchase the Vessel shall be conditioned upon delivery of (i) a time charter agreement and related charter framework agreement as described in the prospectus related to the initial public offering of shares by of DHT by each of the parties thereto and (ii) a final underwriting agreement related to the initial public offering of shares of DHT by each of Overseas Shipholding Group, Inc., DHT and the underwriters party thereto. The Seller shall keep the Buyer informed about the Vessel’s schedule. At such closing:
A. Seller shall deliver to Buyer the following documents:
1. Original notarized xxxx of sale in triplicate, in proper form for recording with the Xxxxxxxx Islands authorities, transferring title to the vessel and everything belonging to her (unless excluded herein) to the Buyer free from all debts, claims, encumbrances, mortgages, and maritime liens and warranting such title.
2. Certificate of ownership and encumbrance issued by the Xxxxxxxx Islands authorities dated on the Delivery Date evidencing ownership of the vessel by the Seller free and clear from all liens and encumbrances of record.
3. Permission from the Xxxxxxxx Islands authorities to transfer the Vessel to the Buyer for re-registration under Xxxxxxxx Islands flag.
4. Copies of Seller’s Articles of Incorporation and By-laws and an incumbency certificate of the Seller.
Appears in 1 contract
Samples: Memorandum of Agreement (Double Hull Tankers, Inc.)