Substitute Vessels Sample Clauses

Substitute Vessels. It is agreed and acknowledged that the Borrower may request amendments to the list of Vessels set out at Schedule 2. Any such request shall be considered by the Banks acting reasonably, and subject to: 2.10.1 the Banks being satisfied that the replacement vessels are: (i) offshore PSVs or AHTSs of the Borrower's usual standard and quality; (ii) registered in an acceptable registry and classed with a Pre-Approved Classification Society; (iii) built no earlier than 2000 and being no more than two (2) years older than the Vessel it is to replace; (iv) have a Valuation no less than eighty per cent (80%) of the Valuation of the Vessel to be replaced; 2.10.2 the Borrower, as owner of the replacement vessel, granting security over such replacement vessel equivalent to the other Security Documents; and 2.10.3 the Agent receiving such conditions precedent (including but not limited to corporate papers and legal opinions) as it may reasonably require, the Banks shall consent to such substitutions and the definition of "Vessels" shall be amended accordingly.
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Substitute Vessels. It is agreed and acknowledged that the Borrower may request amendments to the list of Vessels set out at Schedule 2, by substituting one or more of the Vessels set out therein (the “Original Vessel”) with a new vessel (the “New Vessel”) for any purpose, including without limitation for purposes of compliance with Clause 22.1.12 hereof. Any such request shall be considered by the Agent (on behalf of the Finance Parties) acting reasonably, and subject to the Agent (on behalf of the Finance Parties) being satisfied that the New Vessel: (a) is an offshore PSV or AHTS vessel of the applicable Loan Party’s usual standard and quality; (b) is registered in an acceptable registry and classed with an acceptable classification society; (c) is not built before 2009 nor more than 2 years older than the Original Vessel for which it substitutes; and (d) has a Market Value that is not less than 90% of the Market Value of the Original Vessel for which it substitutes. Further, the Borrower shall (or shall cause the applicable Loan Party to), as owner of the New Vessel, grant security over the New Vessel (including mortgage and assignment of insurances) equivalent to the other Security Documents, and the Agent (on behalf of the Finance Parties) shall be entitled to satisfaction of such conditions precedent (including corporate authorizations, legal opinions and vessel documentation) as it may reasonably require. Upon satisfaction of the foregoing in this Clause 21.1.12, the Agent (on behalf of the Finance Parties) shall consent to such substitution and the definition of the “Vessels” shall be amended accordingly.
Substitute Vessels. If the contractor chooses to accept the substitute vessels, the CO may request, and the contractor shall furnish, a cost proposal detailing the cost and schedule impacts (if any) of the changes and a request for equitable adjustment, should costs increase or decrease. A bilateral modification to this contract shall be executed to incorporate any changes to the number and names of vessels managed by the Ship Manager, and to incorporate any resultant changes to the contract price.
Substitute Vessels. It is agreed and acknowledged that the Borrower may request amendments to the list of Vessels set out at Schedule 2, by substituting one or more of the Vessels set out therein (the "Original Vessel") with a new vessel (the "New Vessel"). Any such request shall be considered by the Agent (on behalf of the Finance Parties) acting reasonably, and subject to the Agent (on behalf of the Finance Parties) being satisfied that the New Vessel is; (i) an offshore PSV or AHTS vessel of the Borrower's usual standard and quality; (ii) registered in an acceptable registry and classed with an acceptable classification society; (iii) not built before 2007 nor older than 2 years compared to the Original Vessel it substitutes; and (iv) have a Market Value that is not less than 90% of the Market Value of the Original Vessel it substitutes. Further, the Borrower, as owner of the New Vessel shall grant security over the New Vessel (including mortgage and assignment of insurances) equivalent to the other Security Documents, and the Agent (on behalf of the Finance Parties) shall receive such conditions precedent (including corporate authorizations, legal opinions and vessel documentation) as it may reasonably require. Upon satisfaction of the foregoing in this Clause 21.1.12 the Agent (on behalf of the Finance Parties) shall consent to such substitution and the definition of the "Vessels" shall be amended accordingly.

Related to Substitute Vessels

  • Substitute Teachers 21.01 A substitute teacher is employed by the Division either to replace a regular teacher or fulfill an assignment which is less than twenty (20) consecutive days in duration. 21.02 Upon commencement of the sixth (6th) day of substitute teaching in the same assignment, a substitute teacher shall be paid for each day taught at the per diem rate (to be calculated as 1/x of the salary to which a teacher of the same qualifications and experience would be entitled under the basic salary schedule of the current collective agreement, where x equals the number of days in the current school year). This rate of pay shall be retroactive to the first day of the teaching assignment and shall continue in effect until the end of that specific teaching assignment. In-service days, administrative days and school closure days shall not constitute a break in the consecutive days for that specific teaching assignment. 21.03 Substitute teachers shall be paid as follows: Daily Rate (including vacation pay) 165.66 ** **Substitute Teacher rates for the 2021/2022 school year will be effective on the date the parties confirm the amount of the COLA adjustment (in January 2022 or as soon as possible thereafter.) Pay relating to the salary earned by substitute teachers during any month shall be forwarded to those teachers not later than the fifteenth (15th) day of the following calendar month. 21.04 Manitoba Teachers’ Society fees and Xxxxxxx Teachers’ Association fees shall be deducted from a substitute teacher’s pay. The Association shall indemnify and save harmless the Division from any and all losses, costs, liabilities or expenses suffered or sustained by the Division as a result of any claim or legal action arising from the deduction of local Association fees or Manitoba Teachers’ Society Fees. 21.05 A substitute teacher who has been employed for at least nine (9) consecutive days of substitute teaching in the same assignment in a school year shall be entitled to one (1) day of sick leave with pay for each nine (9) days taught in that assignment. Sick leave shall not accumulate from assignment to assignment. The use of sick leave with pay shall not constitute an interruption of the substitute teaching assignment. 21.06 If a substitute teacher is absent from a period of substitute teaching on account of bereavement leave granted in accordance with Board practice or policy, and that substitute teacher returns to the same substitute teaching assignment immediately following the period of bereavement, the period of leave shall not constitute an interruption of the substitute teaching assignment. 21.07 The provisions of the Collective Agreement do not apply to substitute teachers except as expressly provided for in Article 21 – Substitute Teachers: Article 1 – Obligation To Act Fairly Article 2 – Purpose

  • Substitute Teaching An adjunct faculty member who is interested in a substitute teaching assignment may be assigned to teach as a substitute in a course section for which the adjunct faculty member is qualified to teach. Each semester an adjunct faculty member may submit to the appropriate Xxxx a written request, on a form provided by the College, which shall indicate his/her willingness and availability to act as a substitute teacher and a reliable means by which to contact the adjunct faculty member on short notice. An adjunct faculty member who is selected to substitute teach shall be paid in accordance with Article 8.4.

  • Substitution of Equipment In the event the Computer is inoperable, ASL has a limited number of spare laptops for use while the Computer is being repaired or replaced. This agreement remains in effect for such a substitute. The Student may NOT opt to keep a broken Computer or to avoid using the Computer due to loss or damage.

  • Substitute Checks You agree not to deposit any substitute check or similar item that you have created, or for which no financial institution has provided any substitute check warranties and indemnity. If you do so, you agree to indemnify us for all losses we incur in connection with the substitute check or item. You agree not to deposit any substitute check without our consent.

  • Substitute Precautions Forest Service may authorize substitute measures or equipment, or waive specific requirements by written notice, if substitute measures or equipment will afford equal protection or some of the required measures and equipment are un- necessary.

  • Tandem Transit Traffic ‌ 12.1 As used in this Section, Tandem Transit Traffic is Telephone Exchange Service traffic that originates on Onvoy's network, and is transported through Frontier’s Tandem to the subtending End Office or its equivalent of another carrier (CLEC, ILEC other than Frontier, Commercial Mobile Radio Service (CMRS) carrier, or other LEC (“Other Carrier”). Neither the originating nor terminating customer is a Customer of Frontier. Subtending End Offices shall be determined in accordance with and as identified in the Local Exchange Routing Guide (LERG). For the avoidance of any doubt, under no circumstances shall Frontier be required to transit traffic through a Frontier Tandem to a Central Office that the LERG does not identify as subtending that particular Frontier Tandem. Switched Exchange Access Service traffic is not Tandem Transit Traffic. 12.2 Tandem Transit Traffic Service provides Onvoy with the transport of Tandem Transit Traffic as provided below. 12.3 Tandem Transit Traffic may be routed over the Interconnection Trunks described in Sections 2 through 6 of this Attachment. Onvoy shall deliver each Tandem Transit Traffic call to Frontier’s Tandem with CCS and the appropriate Transactional Capabilities Application Part (“TCAP”) message to facilitate full interoperability of CLASS Features and billing functions. 12.4 Onvoy may use Tandem Transit Traffic Service only for traffic that originates on Onvoy’s network and only to send traffic to an Other Carrier with whom Onvoy has a reciprocal traffic exchange arrangement (either via written agreement or mutual tariffs) that provides for the Other Carrier, to terminate or complete traffic originated by Onvoy and to bill Onvoy, and not to bill Frontier, for such traffic. Onvoy agrees not to use Frontier’s Tandem Transit Traffic Service to send traffic to an Other Carrier with whom Onvoy does not have such a reciprocal traffic exchange arrangement or to send traffic that does not originate on Onvoy’s network. 12.5 Onvoy shall pay Frontier for Tandem Transit Traffic Service at the rates specified in the Pricing Attachment. Frontier will not be liable for compensation to any Other Carrier for any traffic that is transported through Frontier’s Tandem and Frontier reserves the right to assess to Onvoy any additional charges or costs any Other Carrier imposes or levies on Frontier for the delivery or termination of such traffic, including any Switched Exchange Access Service charges. If Frontier is billed by any Other Carrier for any traffic originated by Onvoy, Frontier may provide notice to Onvoy of such billing. Upon receipt of such notice, Onvoy shall immediately stop using Frontier’s Tandem Transit Traffic Service to send any traffic to such Other Carrier until it has provided to Frontier certification that the Other Carrier has removed such billed charges from its bill to Frontier and that the Other Carrier will not bill Frontier for any traffic originated by Onvoy. Such certification must be signed by an authorized officer or agent of the Other Carrier and must be in a form acceptable to Frontier. 12.6 If Onvoy uses Tandem Transit Traffic Service for traffic volumes that exceed the Centum Call Seconds (Hundred Call Seconds) busy hour equivalent of 200,000 combined minutes of use per month (a DS1 equivalent) to the subtending End Office of a particular Other Carrier for any month (the “Threshold Level”). Onvoy shall use good faith efforts to establish direct interconnection with such Other Carrier and reduce such traffic volumes below the Threshold Level. If Frontier believes that Xxxxx has not exercised good faith efforts promptly to obtain such direct interconnection, either Party may use the Dispute Resolution processes of this Agreement. 12.7 If Onvoy fails to comply with Section 12 of this Attachment, such failure shall be a material breach of a material provision of this Agreement and Frontier may exercise any and all remedies under this Agreement and Applicable Law for such breach. 12.8 If or when a third party carrier plans to subtend an Onvoy switch, then Onvoy shall provide written notice to Frontier at least ninety (90) days before such subtending service arrangement becomes effective so that Frontier may negotiate and establish direct interconnection with such third party carrier. Upon written request from Frontier, Onvoy shall offer to Frontier a service arrangement equivalent to or the same as Tandem Transit Traffic Service provided by Frontier to Onvoy as defined in this Section such that Frontier may terminate calls to a Central Office or its equivalent of a CLEC, ILEC other than Frontier, CMRS carrier, or other LEC, that subtends an Onvoy Central Office or its equivalent (“Reciprocal Tandem Transit Service”). Onvoy shall offer such Reciprocal Transit Service arrangements under terms and conditions of an amendment to this Agreement or a separate agreement no less favorable than those provided in this Section. 12.9 Neither Party shall take any actions to prevent the other Party from entering into a direct and reciprocal traffic exchange arrangement with any carrier to which it originates, or from which it terminates, traffic.

  • Substitute Employees Employees replacing another on leave of absence from the position shall be known as substitute employees. Those substitutes who exceed 194 workdays in the fiscal year shall not gain permanent employment rights with the District. However, the agency shop provisions of this contract shall cover the employee.

  • Accessories, Spare Parts and Tools Accessories, spare parts and tools dispatched with a piece of equipment, machine, apparatus or vehicle, which are part of the normal equipment and included in the price thereof or which are not separately invoiced, shall be regarded as one with the piece of equipment, machine, apparatus or vehicle in question.

  • Condition of Equipment Each Grantor will maintain or cause to be maintained and preserved in good condition, repair and working order, ordinary wear and tear excepted, the Equipment (necessary or useful to its business) and will forthwith, or in the case of any loss or damage to any Equipment of any Grantor within a commercially reasonable time after the occurrence thereof, make or cause to be made all repairs, replacements and other improvements in connection therewith which are necessary or desirable, consistent with past practice, or which the Collateral Agent may request to such end. Any Grantor will promptly furnish to the Collateral Agent a statement describing in reasonable detail any such loss or damage in excess of $25,000 per occurrence to any Equipment.

  • Tool Replacement Personal tools worn out and/or broken on the job will be replaced on a like- for-like basis by the Employer, provided the tool is turned in to the Employer and the Employer had knowledge the tool was being used on the job. If an employee has his/her tools stolen from a state vehicle, the Employer will replace those tools, as long as no employee negligence has occurred.

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