Common use of Collateral Vessel Classification Clause in Contracts

Collateral Vessel Classification. The Collateral Vessel is classified in the highest class available for vessels of its age and type with a classification society listed on Schedule 8.21 hereto or another internationally recognized classification society reasonably acceptable to the Collateral Agent, free of any overdue conditions or recommendations.

Collateral Vessel Classification. The Each Collateral Vessel is classified -------------------------------- classed in the highest class available for vessels of its age and type with a classification society listed on Schedule 8.21 hereto the American Bureau of Shipping or another internationally recognized classification society reasonably acceptable to the Collateral Agent, free of any overdue conditions or recommendations, other than those permitted under the Mortgage with respect to such Collateral Vessel.