Flag and Registry Clause Samples

Flag and Registry. The Company shall not, and shall not permit the owner or bareboat charterer (if any) of a Collateral Rig to, change the flag or the vessel registry and/or ship registry of any Collateral Rig; provided that any of the following shall be permitted: (a) in connection with a bareboat charter of a Collateral Rig to a Restricted Subsidiary, as charterer, a registration as a “foreign bareboat”, a temporary bareboat registration or a temporary re-flagging (or equivalent) of such Collateral Rig in the name of such Restricted Subsidiary that is the bareboat charterer thereof in an Acceptable Flag Jurisdiction (and an extension or renewal of any such “foreign bareboat,” temporary bareboat registration or temporary re-flagging (or equivalent)) to the extent and for so long as such “foreign bareboat” or temporary registration or temporary re-flagging (or equivalent) is required for such Collateral Rig in order to comply with local jurisdictional requirements or customs in connection with a charter party agreement, drilling contract or any demise, bareboat, time, voyage, other charter, lease or other right to use of such Collateral Rig (any of the foregoing, a “Relevant Collateral Rig Contract”) (provided that, in the event that the Relevant Collateral Rig Contract has expired or terminated and such Collateral Rig is not subject to, or scheduled to become subject to another Relevant Collateral Rig Contract within the next 270 days (or such later date as may be approved by the Administrative Agent), the Company shall, or shall cause any applicable Restricted Subsidiary to, promptly take such actions necessary to terminate or delete such “foreign bareboat,” temporary bareboat registration or temporary re-flagging (or equivalent) for such Collateral Rig and return or re-flag such Collateral Rig to an Acceptable Flag Jurisdiction), so long as (i) such action is not prohibited by the laws of the jurisdiction of the vessel or ship registry or flag (x) under which such Collateral Rig is then currently registered in the name of the applicable Collateral Rig Owner and (y) under which such Collateral Rig is to have a foreign bareboat or temporary bareboat registration or a temporary flag (or equivalent) pursuant to this clause (a), (ii) the Collateral Rig Mortgage over such Collateral Rig is not prohibited by the laws of such jurisdictions or required to be released in connection therewith and (iii) such Collateral Rig Mortgage shall remain as a legal, valid and binding obligatio...

Flag and Registry. The Borrower shall, and shall cause the Collateral Vessel Owners, to maintain the flag and vessel or ship registry in the United States of America with respect to the Collateral Vessels.

Flag and Registry. The Company shall not, nor shall it permit the owner or bareboat charterer (if any) of a Collateral Vessel to, change the flag or the vessel and/or ship registry of any Collateral Vessel; provided that any change of flag or vessel and/or ship registry to an Acceptable Flag Jurisdiction shall be permitted, subject to the Collateral Vessel Requirements.

Flag and Registry. The Borrower shall, and shall cause its Restricted Subsidiaries to, maintain the flag and vessel or ship registry in an Acceptable Flag Jurisdiction with respect to each Vessel owned by the Borrower or its Restricted Subsidiaries.

Flag and Registry. The Borrower shall not, and shall not permit any Restricted Subsidiary to, change the flag of any Vessel and/or ship registry of any Vessel owned by the Borrower or its Restricted Subsidiaries; provided that the Borrower or any Vessel owner may change the flag or registry of any Vessel if: (a) the new flag or registry jurisdiction is an Acceptable Flag Jurisdiction, (b) to the extent the Vessel is a Collateral Vessel, then a new Collateral Vessel Mortgage shall be granted over such Vessel and (c) the Borrower shall otherwise comply with the requirements of Section 5.12(b)(iii) as if an Additional Vessel Date has occurred.

Flag and Registry. The Borrower shall, and shall cause the Rig Owners, to maintain the flag and vessel or ship registry in an Acceptable Flag Jurisdiction with respect to the Collateral Rigs, except for (i) any such transfers or changes otherwise permitted by this Agreement and (ii) any such transfers or changes consented to in writing by the Administrative Agent (such consent not to be unreasonably withheld, delayed or conditioned).

Flag and Registry. The Vessel will become registered under the Bahamian flag with Freeport, Bahamas as its port of registry, prior to delivery. However, the Owner shall have the right, subject to Charterers' approval which shall not be unreasonably withheld, to change the flag and port of registry of the Vessel at its own discretion, during the Charter Period. Charterer may withhold approval unless Owner agrees to pay any and al▇ ▇▇▇▇▇▇▇ and continuing extra expenses and costs of whatever kind caused by the change of flag.