MARAD Approval Sample Clauses

MARAD Approval. All insurance certificates submitted in sections 1 and 2 to MARAD shall include the name of the Obsolete Vessel being insured. Insurance certificates shall be submitted to the COTR and approved by the Division of Marine Insurance. Insurance certificates required in Section 1 shall be due to the COTR not later than 10 days after contract award. Towers insurance required in section 2 shall be due to the COTR and shall be approved by Division of Marine Insurance not later than five (5) days prior to the departure of the Obsolete Vessel from the Reserve Fleet. Any delay or additional costs of the tow resulting from non-compliance with the required insurance requirements shall be the responsibility of the Buyer. Said certificates shall be subject to the approval of the Division of Marine Insurance, Maritime Administration, and will contain thirty (30) calendar days advance notice of cancellation (without disclaimer) or of any non-renewal which is the option of the insurer, said notice to be provided to the U.S. Department of Transportation, Maritime Administration, Office of Marine Insurance, MAR-780, 0000 Xxx Xxxxxx Xxxxxx, XX, X00-000, Xxxxxxxxxx, XX 00000.
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MARAD Approval. The Perforadora Parties shall use their best efforts to obtain the consent and approval of The United States of America, acting by and through the Secretary of Transportation, represented by the Maritime Administrator (the "MARITIME ADMINISTRATOR"), as soon as practicable, to (a) the assumption by Tonala Delaware of the obligations under the Title XI Bonds and the Title XI Documents upon the transfer of ownership of the Rig to Tonala Delaware as contemplated hereby and (b) the release of any liability of all other parties with respect thereto upon such assumption such that Tonala Delaware shall be the sole obligor under the Title XI Documents (such consent and approval being referred to herein as "MARAD APPROVAL"), such approval to be satisfactory to the Perforadora Parties and Chiles. Such best efforts obligation includes, without limitation, xxx xxeparation of documentation with respect to the Intermediate Transactions for the review by the Maritime Administrator (or its designee) and consent of the Maritime Administrator thereto, obtaining the consent of all other parties required in connection therewith and the provision to the Maritime Administrator (or its designee) of such other documents and information that may be requested thereby. Chiles shall cooperate and provide assistance to the Perforadora Paxxxxx in connection therewith and agrees that, to the extent the Maritime Administrator requires Tonala Delaware to comply with the financial requirements of Section 8(b) of the Title XI Reserve Fund and Financial Agreement (I.E., positive working capital, long-term debt to equity ratio not to exceed two to one, and minimum net worth of $43,575,031), Chiles will cause Tonala Delaware to comply with such requirements xx xxx Effective Date and provide evidence thereof to the Maritime Administrator in connection with the completion of the Merger.
Sample 1
MARAD Approval. Seller shall have delivered to Buyer from the U.S. Maritime Administration either written advice that Section 37 of the Shipping Act, 1916 (46 U.S.C. App. 835) is not operative as of the Closing Date or written approval under such statute of the transactions contemplated by this Agreement.
Sample 1
MARAD Approval. The following actions shall be subject to approval by MARAD:
Sample 1
MARAD Approval. The Agent shall have received copies of MARAD documentation approving the increase in the Line of Credit and the amendment to the 900 Foot Floating Drydock Mortgage reflecting such increase.
Sample 1
MARAD Approval. On or prior to the Closing Date, the Initial Purchasers shall have received all consents, approvals, authorizations or other orders of or registration or filing with the MarAd required or, in the reasonable judgment of Banc of America Securities LLC, advisable in connection with the Recapitalization, including either (i) a confirmation by MarAd that upon completion of the Recapitalization and receipt of executed Supplemental Affidavits of U.S. Citizenship of American Seafoods L.P., ASC Management, Inc. and Holdings, MarAd will issue a renewed determination that each of the vessel owing companies of Group set forth in Schedule E hereto (the "Vessel Owning ---------- Companies") (a) is qualified as a United States Citizen within the meaning of Section 2(c) of the Shipping Act, 1916 and (b) is eligible to document its corresponding vessel with a fishery endorsement under the new requirements of 46 U.S.C. (S) 12102(c) which became effective on October 1, 2001 ((a) and (b) shall be collectively referred to herein as a "Favorable MarAd Determination") and the favorable opinion of Xxxxxxx Xxxxx Xxxxx & Rouvelas Xxxxx LLP, regulatory counsel for the Companies and the Guarantors, dated as of such Closing Date, the form of which is attached as Exhibit E hereto or (ii), in the event MarAd has not delivered a Favorable MarAd Determination on or prior to the Closing Date, the favorable opinion of Xxxxxxx Xxxxx Xxxxx & Rouvelas Xxxxx LLP, regulatory counsel for the Companies and the Guarantors, dated as of such Closing Date, the form of which is attached as Exhibit F hereto (it being understood and agreed that (i) the affidavits supporting opinion 4 in Exhibit F shall be substantially identical to the affidavits supporting the opinion delivered by Xxxxxxx Xxxxx Xxxxx & Rouvelas Xxxxx LLP to the Initial Purchasers on April 2, 2002 (the "Pre-Pricing Opinion") and (2) any affidavits in the Pre-Pricing Opinion that were delivered in draft form shall be executed, in the same form, on the Closing Date).
Sample 1
MARAD Approval. Purchaser has received written approval of the United States Maritime Administration (“MARAD”) to the sale of the Vessel by Wxxxxxxx to Purchaser, and to the charter or lease-back of the Vessel to Wxxxxxxx, under the terms of this Agreement and the Charter;
Sample 1
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Related to MARAD Approval

  • HSR Approval The applicable waiting period under the HSR Act shall have expired or been terminated.

  • Required Approval Any indemnification under this Article shall be made by the Trust if authorized in the specific case on a determination that indemnification of the Agent is proper in the circumstances by (i) a final decision on the merits by a court or other body before whom the proceeding was brought that the Agent was not liable by reason of Disqualifying Conduct (including, but not limited to, dismissal of either a court action or an administrative proceeding against the Agent for insufficiency of evidence of any Disqualifying Conduct) or, (ii) in the absence of such a decision, a reasonable determination, based upon a review of the facts, that the Agent was not liable by reason of Disqualifying Conduct, by (1) the vote of a majority of a quorum of the Trustees who are not (x) “interested persons” of the Trust as defined in Section 2(a)(19) of the 1940 Act, (y) parties to the proceeding, or (z) parties who have any economic or other interest in connection with such specific case (the “disinterested, non-party Trustees”); or (2) by independent legal counsel in a written opinion.

  • FCC Approval Notwithstanding anything to the contrary contained in this Agreement or in the other Loan Documents, neither the Administrative Agent nor any Lender will take any action pursuant to this Agreement or any of the other Loan Documents, which would constitute or result in a change in control of the Borrower or any of its Subsidiaries requiring the prior approval of the FCC without first obtaining such prior approval of the FCC. After the occurrence of an Event of Default, the Borrower shall take or cause to be taken any action which the Administrative Agent may reasonably request in order to obtain from the FCC such approval as may be necessary to enable the Administrative Agent to exercise and enjoy the full rights and benefits granted to the Administrative Agent, for the benefit of the Lenders by this Agreement or any of the other Loan Documents, including, at the Borrower’s cost and expense, the use of the Borrower’s best efforts to assist in obtaining such approval for any action or transaction contemplated by this Agreement or any of the other Loan Documents for which such approval is required by Law.

  • Required Approvals and Consents (a) All action required by law and otherwise to be taken by the shareholders of the Company to authorize the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby will have been duly and validly taken.

  • Consents and Approval Except where expressly provided as being in the sole discretion of a Party, where agreement, approval, acceptance, consent, confirmation, notice or similar action by either Party is required under this Agreement, such action shall not be unreasonably delayed or withheld. An approval or consent given by a Party under this Agreement shall not relieve the other Party from responsibility for complying with the requirements of this Agreement, nor shall it be construed as a waiver of any rights under this Agreement, except as and to the extent otherwise expressly provided in such approval or consent.

  • Antitrust Approval The Company and the Purchaser acknowledge that one or more filings under the HSR Act or foreign antitrust laws may be necessary in connection with the issuance of shares of Company Common Stock upon conversion of the Notes. The Purchaser will promptly notify the Company if any such filing is required on the part of the Purchaser. To the extent reasonably requested, the Company, the Purchaser and any other applicable Purchaser Affiliate will use reasonable efforts to cooperate in timely making or causing to be made all applications and filings under the HSR Act or any foreign antitrust requirements in connection with the issuance of shares of Company Common Stock upon conversion of Notes held by the Purchaser or any Purchaser Affiliate in a timely manner and as required by the law of the applicable jurisdiction; provided that, notwithstanding in this Agreement to the contrary, the Company shall not have any responsibility or liability for failure of Purchaser or any of its Affiliates to comply with any applicable law. For as long as there are Notes outstanding and owned by Purchaser or its Affiliates, the Company shall as promptly as reasonably practicable provide (no more than four (4) times per calendar year) such information regarding the Company and its Subsidiaries as the Purchaser may reasonably request in order to determine what foreign antitrust requirements may exist with respect to any potential conversion of the Notes. The Purchaser shall be responsible for the payment of the filing fees associated with any such applications or filings.

  • NASDAQ Approval The Company shall have filed with Nasdaq a Notification Form: Listing of Additional Shares for the listing of the Shares.

  • Authorization, Approval, etc No authorization, approval, or other action by, and no notice to or filing with, any governmental authority, regulatory body or any other Person is required either

  • Required Approvals For so long as twenty-five percent (25%) of the principal amount of the Note is outstanding, the Company, without the prior written consent of the Purchaser, shall not, and shall not permit any of its Subsidiaries to:

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