ISM Code. The Owner shall, and shall procure that the Manager shall: (a) at all times after the Delivery Date comply, and be responsible for compliance by itself and by the Vessel, with the mandatory requirements of the ISM Code; (b) at all times after the Delivery Date ensure that the Vessel has a valid Safety Management Certificate (or, following delivery until a final certificate is issued, a valid interim Safety Management Certificate) which is held on board the Vessel and that the Manager holds a valid Document of Compliance for the Vessel, a copy of which is held on board the Vessel; (c) promptly notify the Facility Agent of any actual or, upon becoming aware of the same, threatened withdrawal of an applicable Safety Management Certificate or Document of Compliance; (d) promptly notify the Facility Agent of the identity of the person ashore designated for the purposes of paragraph 4 of the ISM Code and of any change in the identity of that person; and (e) promptly upon becoming aware of the same notify the Facility Agent of the occurrence of any accident or major non-conformity requiring action under the ISM Code.
Appears in 5 contracts
Samples: Credit Facility Agreement (Ocean Rig UDW Inc.), Credit Facility Agreement (DryShips Inc.), Credit Facility Agreement (DryShips Inc.)
ISM Code. The Owner Borrower shall, and shall procure that the Manager shall:
(a) at all times after the Delivery Date comply, and of a Vessel be responsible for compliance by itself and by the Vessel, such Vessel with the mandatory requirements of the ISM Code;
(b) at all times after the Delivery Date of a Vessel ensure that that:
(i) the Vessel has a valid Safety Management Certificate (or, following delivery until as defined in the ISM Code);
(ii) the Vessel is subject to a final certificate safety management system (as defined in the ISM Code) which complies with the ISM Code; and
(iii) there is issued, a valid interim Safety Management CertificateDocument of Compliance (as defined in the ISM Code) which is held on board the Vessel Vessel, and that shall deliver to the Manager holds Facility Agent, on or before the Delivery Date of a Vessel, a copy of a valid Safety Management Certificate and a valid Document of Compliance for in respect of the relevant Vessel, a copy in each case duly certified by an officer of which is held on board the VesselBorrower;
(c) promptly notify the Facility Agent of any actual or, upon becoming aware of the same, threatened withdrawal of an applicable Safety Management Certificate or Document of Compliance;
(d) promptly notify the Facility Agent of the identity of the person ashore designated for the purposes of paragraph 4 of the ISM Code and of any change in the identity of that person; and
(e) promptly upon becoming aware of the same notify the Facility Agent of the occurrence of any accident or major non-conformity (as defined in the ISM Code) requiring action under the ISM Code.
Appears in 2 contracts
Samples: Reducing Revolving Credit Facility (Seaspan CORP), Credit Facility (Seaspan CORP)
ISM Code. The Owner Borrower shall, and shall procure that the Manager shall:
(a) at all times after the Delivery Date comply, and be responsible for compliance by itself and by the Vessel, with the mandatory requirements of the ISM Code;
(b) at all times after the Delivery Date ensure that the Vessel has a valid Safety Management Certificate (or, following delivery until a final certificate is issued, a valid interim Safety Management Certificate) which is held on board the Vessel and that the Manager holds a valid Document of Compliance for the Vessel, a copy of which is held on board the Vessel;
(c) promptly notify the Facility Agent of any actual or, upon becoming aware of the same, threatened withdrawal of an applicable Safety Management Certificate or Document of Compliance;
(d) promptly notify the Facility Agent of the identity of the person ashore designated for the purposes of paragraph 4 of the ISM Code and of any change in the identity of that person; and
(e) promptly upon becoming aware of the same notify the Facility Agent of the occurrence of any accident or major non-conformity requiring action under the ISM Code.
Appears in 2 contracts
Samples: Facility Agreement (Ocean Rig UDW Inc.), Facility Agreement (DryShips Inc.)
ISM Code. The Owner shall, and shall procure that the Bareboat Charterer during the Bareboat Charter Period and the Manager shall:
(a) at all times after the Delivery Date comply, and be responsible for compliance by itself and by the Vessel, with the mandatory requirements of the ISM Code;
(b) at all times after the Delivery Date ensure that the Vessel has a valid Safety Management Certificate (or, following delivery until a final certificate is issued, a valid interim Safety Management Certificate) which is held on board the Vessel and that the Manager holds a valid Document of Compliance for the Vessel, a copy of which is held on board the Vessel;
(c) promptly notify the Facility Agent of any actual or, upon becoming aware of the same, threatened withdrawal of an applicable Safety Management Certificate or Document of Compliance;
(d) promptly notify the Facility Agent of the identity of the person ashore designated for the purposes of paragraph 4 of the ISM Code and of any change in the identity of that person; and
(e) promptly upon becoming aware of the same notify the Facility Agent of the occurrence of any accident or major non-conformity requiring action under the ISM Code.
Appears in 1 contract
ISM Code. The Owner shall, and shall procure that the Manager and any other relevant entity shall:
(a) at all times after the Delivery Date comply, and be responsible for compliance by itself and by the Vessel, with the mandatory requirements of the ISM Code;
(b) at all times after the Delivery Date ensure that the Vessel has a valid Safety Management Certificate (or, following delivery until a final certificate is issued, a valid interim Safety Management Certificate) which is held on board the Vessel and that the Manager holds a valid Document of Compliance for the Vessel, a copy of which is held on board the Vessel;
(c) promptly notify the Facility Agent of any actual or, upon becoming aware of the same, threatened withdrawal of an applicable Safety Management Certificate or Document of Compliance;
(d) promptly notify the Facility Agent of the identity of the person ashore designated for the purposes of paragraph 4 of the ISM Code and of any change in the identity of that person; and
(e) promptly upon becoming aware of the same notify the Facility Agent of the occurrence of any accident or major non-conformity requiring action under the ISM Code.
Appears in 1 contract