Tonnage. The Borrower shall procure that, at all times prior to the Final Maturity Date, the tonnage weighted average age of the Vessels (calculated in a manner satisfactory to the Facility Agent), shall not at any time exceed twelve years.
Appears in 1 contract
Samples: Agreement (Seaspan CORP)
Tonnage. The Borrower shall procure that, at all times prior to the Final Maturity Date, the tonnage weighted average age of the Secured Vessels (calculated in a manner satisfactory to the Facility Agent), shall not at any time exceed twelve years.
Appears in 1 contract
Samples: Agreement (Seaspan CORP)
Tonnage. The Borrower shall procure that, at all times prior to the Revolving Credit Final Maturity Date, the tonnage weighted average age of the Vessels (calculated in a manner satisfactory to the Facility Agent), shall not at any time exceed twelve years.
Appears in 1 contract
Samples: Agreement (Seaspan CORP)
Tonnage. The Borrower shall procure that, at all times prior to the Final Maturity Date, the tonnage weighted average age of the Secured Vessels (calculated in a manner satisfactory to the Facility AgentAgent but always excluding the Removed Vessels from such calculation), shall not at any time exceed twelve sixteen years.
Appears in 1 contract
Samples: Credit Agreement (Seaspan CORP)