Common use of Documentation/Registration and Condition of Vessel Clause in Contracts

Documentation/Registration and Condition of Vessel. A current copy of the California Vessel Registration (D.M.V.) or United States Coast Guard Documentation must be on file in the Manager’s office, together with a current photograph of the Vessel. Vessel registration/documentation shall list the Vessel Owner(s) and all Company approved partners or equity owners. Vessel Owner shall tender to the Company on a yearly basis, with or without prior demand therefore, a true and correct copy of the Vessel’s then current state registration or federal documentation. Vessel Owner warrants that the Vessel is properly documented or registered pursuant to the laws of the United States and/or the State of California and that the Vessel is in compliance with all applicable U.S. Coast Guard safety regulations. Vessel Owner shall maintain the Vessel in a Seaworthy manner (as that term is defined in Exhibit B). Company shall be the sole judge of the adequacy of the Vessel’s Seaworthiness.