Common use of Repair and classification Clause in Contracts

Repair and classification. Each Borrower shall keep the Ship owned by it in a good and safe condition and state of repair: (a) consistent with first-class ship ownership and management practice; (b) so as to maintain the highest class for that Ship with the Classification Society, free of overdue recommendations and conditions; and (c) so as to comply with all laws and regulations applicable to vessels registered under the law of the Approved Flag on which that Ship is registered or to vessels trading to any jurisdiction to which that Ship may trade from time to time, including but not limited to the ISM Code and the ISPS Code, and the Borrowers shall notify the Creditor Parties of the class and the Classification Society of each Ship not less than 15 days prior to the relevant Drawdown Date.

Repair and classification. Each Borrower shall keep the Ship owned by it in a good and safe condition and state of repair: (a) consistent with first-class ship ownership and management practice; (b) so as to maintain the highest class for that Ship with the Classification Society, free of overdue recommendations and conditions; and (c) so as to comply with all laws and regulations applicable to vessels registered under the law of the Approved Flag on which that Ship is registered or to vessels trading to any jurisdiction to which that Ship may trade from time to time, including but not limited to the ISM Code and the ISPS Code, and the Borrowers shall notify the Creditor Parties of the class and the Classification Society of each Ship not less than 15 days prior to the relevant Drawdown Date.

Repair and classification. Each Borrower shall keep the Ship owned by it in a good and safe condition and state of repair: (a) consistent with first-class ship ownership and management practice; (b) so as to maintain the highest class for that Ship with the Classification Society, free of overdue recommendations and conditions; and (c) so as to comply with all laws and regulations applicable to vessels registered under the law of the Approved Flag on which that Ship is registered or to vessels trading to any jurisdiction to which that Ship may trade from time to time, including but not limited to the ISM Code and the ISPS Code, and the Borrowers shall notify the Creditor Parties of the class and the Classification Society of each a Ship not less than 15 days prior to the relevant Drawdown DateDate in respect of the Advance relating to such Ship.

Repair and classification. Each Borrower shall keep the Ship owned by it in a good and safe condition and state of repair: (a) consistent with first-class first‑class ship ownership and management practice; (b) so as to maintain the highest class for that Ship with the Classification Society, free of overdue recommendations and conditions; and (c) so as to comply with all laws and regulations applicable to vessels registered under the law of the Approved Flag on which that Ship is registered or to vessels trading to any jurisdiction to which that Ship may trade from time to time, including but not limited to the ISM Code and the ISPS Code, and the Borrowers shall notify the Creditor Parties of the class and the Classification Society of each Ship not less than 15 days prior to the relevant Drawdown Date.

Repair and classification. Each The Borrower shall keep the Ship owned by it in a good and safe condition and state of repair: (a) consistent with first-class ship ownership and management practice; (b) so as to maintain the highest class for that the Ship with the Classification Society, free of any material or overdue recommendations and conditionsconditions affecting the Ship’s class; and (c) so as to comply with all laws and regulations applicable to vessels registered under the law of the Approved Flag on which that the Ship is registered or to vessels trading to any jurisdiction to which that the Ship may trade from time to time, including but not limited to the ISM Code and the ISPS Code, and the Borrowers Borrower shall notify the Creditor Parties of the class and the Classification Society of each Ship not less than 15 five (5) days prior to the relevant Drawdown Date.

Repair and classification. Each The Borrower shall keep the Ship owned by it in a good and safe condition and state of repair: (a) consistent with first-class first‑class ship ownership and management practice; (b) so as to maintain the highest class for that the Ship with the Classification Society, free of overdue recommendations and conditions; and (c) so as to comply with all laws and regulations applicable to vessels registered under the law of the Approved Flag on which that the Ship is registered or to vessels trading to any jurisdiction to which that the Ship may trade from time to time, including but not limited to the ISM Code and the ISPS Code, and the Borrowers Borrower shall notify the Creditor Parties of the class and the Classification Society of each the Ship not less than 15 days prior to the relevant Drawdown Date.