Common use of Operation of the Vessel Clause in Contracts

Operation of the Vessel. (a) The Borrower will comply, or procure compliance in all material respects with the ISM Code and ISPS Code, all Environmental Laws and all other laws or regulations relating to the Vessel, its ownership, operation and management or to the business of the Borrower and shall not employ the Vessel nor allow its employment: (i) in any manner contrary to any law or regulation in any relevant jurisdiction including but not limited to the ISM Code and ISPS Code; or (ii) in the event of hostilities in any part of the world (whether war is declared or not), in any zone which is declared a war zone by any government or by the war risks insurers of the Vessel unless the Borrower has (at its expense) effected any special, additional or modified insurance cover which shall be necessary or customary for first class shipowners trading vessels within the territorial waters of such country at such time and has provided evidence of such cover to the Lender. (b) Without limitation to the generality of Clause 8.4.6(a), the Borrower in respect of the Vessel, shall comply or procure compliance, with, as applicable, all requirements of the International Convention for the Safety of Life at Sea (SOLAS) 1974 as adopted, amended or replaced from time to time including, but not limited to, the STCW 95, the ISM Code or the ISPS Code.

Operation of the Vessel. (a) The Borrower will shall comply, or procure the compliance in all material respects with the ISM Code and the ISPS Code, all Environmental Laws and all other laws or regulations relating to the Vessel, its ownership, operation and management or to the business of the Borrower and shall not employ the Vessel nor allow its employment: (ia) in any manner contrary to any law or regulation in any relevant jurisdiction including but not limited to the ISM Code and ISPS Codeany EU, UN, UK and/or US sanctions (if applicable); orand (iib) in the event of hostilities in any part of the world (whether war is declared or not), in any zone which is declared a war zone by any government or by the war risks risk insurers of the Vessel unless the Borrower has (at its expense) effected any special, additional or modified insurance cover which shall be necessary or customary for first class shipowners trading vessels within the territorial waters of such country at such time and has provided evidence of such cover to the Lender. (b) Agent. Without limitation to the generality of this Clause 8.4.6(a)23.6, the Borrower in respect of the Vessel, shall comply or procure compliance, with, as applicable, all requirements of the International Convention for the Safety of Life at Sea (SOLAS) 1974 as adopted, amended or replaced from time to time including, but not limited to, the STCW 95, the ISM Code or the ISPS Code.