Operational Certificates Clause Samples
The Operational Certificates clause defines the requirements and procedures for issuing, maintaining, and verifying certificates that authorize specific operational activities or access within an organization or system. Typically, this clause outlines who is responsible for generating and distributing certificates, the criteria for their validity, and the process for revocation or renewal. For example, it may apply to digital certificates used to authenticate users or devices in a secure network. Its core practical function is to ensure that only authorized parties can perform certain operations, thereby enhancing security and accountability.
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Operational Certificates. Lender has received true correct and complete copies of the following operational certificates with respect to the Vessel to be refinanced with the proceeds of the Advance, if required for the operation of the Vessel under the laws of the Republic of the M▇▇▇▇▇▇▇ Islands or other applicable law, and such certificates are in full force and effect, without exception (i) a Provisional Load Line Certificate issued by the American Bureau of Shipping ("ABS"); (ii) all ISM Code Documentation; (iii) all ISPS Code Documentation; (iv) an International Tonnage Certificate issued for the Vessel by the ABS; (v) all Ship Safety Certificates required for the Vessel; and (vi) an International Oil Pollution Prevention Certificate (and all applicable annexes and supplements thereto);
Operational Certificates. Purchaser and Participants have received true and correct copies of each of the following certificates (collectively, “Operational Certificates”): (i) a copy of the current Certificate of Documentation for the Vessel, issued by the NVDC, in the name of W▇▇▇▇▇▇▇ and endorsed for registry; (b) the Tonnage Certificate issued by the American Bureau of Shipping or other authorized classification society with respect to the Vessel; (iii) a Confirmation of Class Certificate issued by the American Bureau of Shipping or other applicable classification society showing the Vessel as in class with respect to all applicable classes, without exception, together with copies of the current classification certificates issued with respect to the Vessel; (iv) if the Vessel is an inspected vessel, or subject to load line regulations on the Closing Date, a copy of the current Certificate of Inspection and/or Load Line Certificate, and such certificates shall be in full force and effect, without exception; (v) the Certificate of Financial Responsibility with respect to the Vessel; and (vi) the Safety Management Certificate with respect to W▇▇▇▇▇▇▇ and/or the Vessel issued pursuant to the International Safety Management Code and the International Ship Security Certificate with respect to the Vessel issued pursuant to International Ship and Port Facility Security Code, as such codes have been adopted by the International Maritime Organization;