The Vessel. The Vessel will on the Delivery Date be: (a) in the absolute ownership of the Borrower who will on and after the Delivery Date thereof be the sole, legal and beneficial owner of the Vessel; (b) registered in the name of the Borrower under the laws and flag of the Bahamas; (c) operationally seaworthy and in every way fit for service; and (d) classed with the classification referred to in clause 9.6.3(b) free of any overdue recommendations and conditions affecting the Vessel’s class of the Classification Society.
Appears in 4 contracts
Samples: Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.), Loan Agreement (Teekay LNG Partners L.P.)
