Responsible Ship Recycling. If a Ship is sold for scrapping, the Borrower owning that Ship shall ensure that that Ship shall be dismantled in a safe, sustainable and socially and environmentally responsible way.
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Samples: Amending and Restating Agreement (Poseidon Containers Holdings Corp.), Loan Agreement (Diana Shipping Inc.), Loan Agreement (Diana Shipping Inc.)
Responsible Ship Recycling. If a Ship is sold for scrapping, the Borrower owning that Ship shall ensure that that Ship is sold on the basis of a memorandum of agreement that contains language that ensures that the Ship shall be dismantled in a safe, sustainable and socially and environmentally responsible wayway and that Borrower shall use its best endeavours to ensure performance and observance by the buyer of that Ship of its obligations and liabilities under such memorandum of agreement.
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Samples: Facility Agreement (Okeanis Eco Tankers Corp.), Facility Agreement (Okeanis Eco Tankers Corp.)
Responsible Ship Recycling. If a Ship is sold for scrapping, the Borrower owning that Ship shall use its best endeavours to ensure that that Ship shall be dismantled in a safe, sustainable and socially and environmentally responsible wayway (the requirements for that Ship to dismantled in a safe, sustainable, socially and environmentally responsible way shall be determined by the Agent in consultation with the relevant Borrower at the relevant time).
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Responsible Ship Recycling. If a Ship or Collateral Ship is sold for scrapping, the Borrower owning that Ship Guarantor shall use its best endeavours to ensure that that such Ship or Collateral Ship shall be dismantled in a safe, sustainable and socially and environmentally responsible way.
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Responsible Ship Recycling. If a Ship is sold for scrapping, the Borrower Owner owning that Ship shall ensure that such Ship is sold on the basis of a memorandum of agreement that contains language that ensures that that Ship shall be dismantled in a safe, sustainable and socially and environmentally responsible wayway and that Owner shall use its best endeavours to ensure performance and observance by the buyer of such Ship of its obligations and liabilities under such memorandum of agreement.
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Responsible Ship Recycling. If a Ship or a Collateral Ship is sold for scrapping, the each Borrower owning that Ship shall use its best endeavours to ensure that that such Ship or Collateral Ship shall be dismantled in a safe, sustainable and socially and environmentally responsible way.
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Responsible Ship Recycling. If a Ship is sold for scrapping, the each Borrower owning that Ship shall use its best endeavours to ensure that that Ship shall be dismantled in a safe, sustainable and socially and environmentally responsible way.";
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Responsible Ship Recycling. If a Ship is sold for scrapping, scrapping (including indirectly to a cash buyer) the Borrower owning that Ship shall Borrowers shall:
(a) ensure that such Ship is sold on the basis of a memorandum of agreement (or equivalent) that contains language that ensures that the Ship shall be dismantled in accordance with the Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships in a safe, sustainable and socially and environmentally responsible way; and
(b) use best endeavours to ensure that that Ship is so dismantled.
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