Replacement vessels. A Contractor may replace an MSP vessel under an MSP Operating Agreement with an- other vessel that is eligible to be in- cluded in the MSP under section 296.11(a), if the Secretary, in conjunc- tion with the Secretary of Defense, ap- proves the replacement vessel.
Replacement vessels. With the exception of any ferry service which Government may contract with a private operator, should Government permanently replace an existing vessel on a service presently covered by the bargaining unit, a permanent Ferry Captain who is displaced as a result of the permanent replacement of a vessel and who is qualified and able to assume the Captain’s position on the replacement vessel will be offered the position on the replacement vessel.
Replacement vessels. A contractor may replace a vessel under an operating agreement with another vessel that is eligible to be in- cluded in the Fleet under section 53102(b), if the Secretary, in conjunction with the Secretary of Defense, approves the replacement of the vessel.
Replacement vessels. (a)(i) In the event that Acquiror, in connection with the Due Diligence Inspection of each Transferor Vessel to be transferred by Clipper Bulk pursuant to Section 6.09(a), concludes, in its reasonable discretion, that either such Transferor Vessel is not of sound condition relative to other vessels of similar age, size and type operated by prudent and commercially reputable shipowners in similar trades, free of average damage and free of recommendations affecting class (such condition hereinafter called the “Required Condition”), then Acquiror may reject the delivery of such Transferor Vessels hereunder pursuant to a written notice to Clipper Bulk (the “Clipper Rejection Notice”) delivered no later than fifteen (15) days after the final Due Diligence Inspection. In such case, Clipper Bulk shall be obligated either (x) at its expense to place both of the Transferor Vessels to be transferred by it in the Required Condition and to deliver both such Transferor Vessels to the Acquiror or its nominee on or before the Outside Delivery Date, or (y) to deliver, on or before one hundred and twenty (120) days from the First Closing Date, Substitute Vessel A or Substitute Vessel B and Substitute Vessel C, as described on Schedule IV attached hereto (each vessel described therein, a “Substitute Vessel”); provided, however, any obligation of Clipper Bulk to deliver such Substitute Vessel under this Section 6.11(a) shall terminate upon an actual, constructive or compromised total loss of such Substitute Vessel.
Replacement vessels. MARAD may approve the replacement of an Eligible Vessel in a MSP Operating Agreement provided the replacement vessel is xxx- gible under § 295.10.
