Common use of DRYDOCKING Clause in Contracts

DRYDOCKING. The Borrower shall procure that the Vessel is drydocked as often as may be required to ensure that the Vessel maintains its Classification with its relevant Classification Society and otherwise in accordance with good commercial practice. If the Borrower fails to comply with the requirements of the relevant Classification Society, the Agent may inspect the Vessel in accordance with clause 9.

Appears in 4 contracts

Samples: Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.)

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DRYDOCKING. The Borrower shall procure that the Vessel is drydocked as often as may be required to ensure that the Vessel maintains its Classification classification with its relevant Pre-Approved Classification Society and otherwise in accordance with good commercial practice. If the Borrower fails to comply with the requirements of the relevant Pre-Approved Classification Society, the Agent may shall have the right to inspect the Vessel in accordance with clause 9.

Appears in 1 contract

Samples: Facility Agreement (Teekay LNG Partners L.P.)

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