Common use of Vessels; Maritime Matters Clause in Contracts

Vessels; Maritime Matters. (a) Section 5.14(a) of the Oceanbulk Disclosure Letter contains a list of all vessels owned by any Oceanbulk Company (the “Owned Vessels”) or chartered-in by any Oceanbulk Company pursuant to charter arrangements (the “Leased Vessels”), including the name, registered owner, capacity (gross tonnage or deadweight tonnage, as specified therein), year built, classification society, official number, flag state, and whether such Vessel is currently operating in the spot market or time chartered market, of each Owned Vessel and Leased Vessel. Each Vessel is operated in compliance with all applicable Maritime Guidelines and Laws, except where such failure to be in compliance would not have an Oceanbulk Material Adverse Effect. Each Oceanbulk Company is qualified to own and operate the Owned Vessels under applicable Laws, including the Laws of each Owned Vessel’s flag state, except where such failure to be qualified would not have an Oceanbulk Material Adverse Effect. Each Vessel is seaworthy and in good operating condition, has all national and international operating and trading certificates and endorsements, each of which is valid, that are required for the operation of such Vessel in the trades and geographic areas in which it is operated, except where such failure to be qualified would not have an Oceanbulk Material Adverse Effect.

Vessels; Maritime Matters. (a) Section 5.14(a5.17(a) of the Oceanbulk Parent Disclosure Letter contains a list of all vessels owned as of the date hereof by any Oceanbulk Company Parent or its Subsidiaries (the “Parent Owned Vessels”) or chartered-in as of the date hereof by Parent or any Oceanbulk Company pursuant to charter arrangements of its Subsidiaries (the “Parent Leased Vessels”), including the name, registered owner, capacity (gross tonnage or deadweight tonnage, as specified therein), year built, classification society, official number, flag state, and whether such Parent Vessel is currently operating in the spot market or time chartered market, of each Parent Owned Vessel and Parent Leased Vessel. Each Parent Vessel is operated in compliance with all applicable Maritime Guidelines and Laws, except where such failure to be in compliance would not have an Oceanbulk a Parent Material Adverse Effect. Each Oceanbulk Company Parent or its applicable Subsidiary is qualified to own and operate the Parent Owned Vessels under applicable Laws, including the Laws of each Parent Owned Vessel’s flag state, except where such failure to be qualified would not have an Oceanbulk a Parent Material Adverse Effect. Each Parent Vessel is seaworthy and in good operating condition, has all national and international operating and trading certificates and endorsements, each of which is valid, that are required for the operation of such Parent Vessel in the trades and geographic areas in which it is operated, except where such failure to be qualified would not have an Oceanbulk a Parent Material Adverse Effect.

Vessels; Maritime Matters. (a) Section 5.14(a4.17(a) of the Oceanbulk Company Disclosure Letter contains a list of all vessels owned as of the date hereof by any Oceanbulk the Company or its Subsidiaries (the “"Company Owned Vessels”") or chartered-in as of the date hereof by the Company or any Oceanbulk Company pursuant to charter arrangements of its Subsidiaries (the “"Company Leased Vessels”"), including the name, registered owner, capacity (gross tonnage or deadweight tonnage, as specified therein), year built, classification society, official number, flag state, and whether such Company Vessel is currently operating in the spot market or time chartered charter market, of each Company Owned Vessel and Company Leased Vessel. Each Company Vessel is operated in compliance with all applicable Maritime Guidelines and Laws, except where such failure to be in compliance would not have an Oceanbulk a Company Material Adverse Effect. Each Oceanbulk The Company or its applicable Subsidiary is qualified to own and operate the Company Owned Vessels under applicable Laws, including the Laws of each Company Owned Vessel’s 's flag state, except where such failure to be qualified would not have an Oceanbulk a Company Material Adverse Effect. Each Company Vessel is seaworthy and in good operating condition, has all national and international operating and trading certificates and endorsements, each of which is valid, that are required for the operation of such Company Vessel in the trades and geographic areas in which it is operated, except where such failure to be qualified would not have an Oceanbulk a Company Material Adverse Effect.

Vessels; Maritime Matters. (a) Section 5.14(a5.12(a) of the Oceanbulk TNK Disclosure Letter contains a list of all vessels owned by any Oceanbulk TNK Company (the “TNK Owned Vessels”) or chartered-in by any Oceanbulk TNK Company pursuant to charter arrangements (the “TNK Leased Vessels”), in each case as of the date of this Agreement, including the name, registered owner, capacity (gross tonnage or deadweight tonnage, as specified therein), year built, classification society, official number, flag state, and whether such Vessel vessel is currently operating in the spot market or time chartered market, of each TNK Owned Vessel and TNK Leased Vessel. Each TNK Vessel is operated in compliance with all applicable Maritime Guidelines and Laws, except where such failure to be in compliance would not have an Oceanbulk a TNK Material Adverse Effect. Each Oceanbulk TNK Company is qualified to own and operate the TNK Owned Vessels under applicable Laws, including the Laws of each TNK Owned Vessel’s flag state, except where such failure to be qualified would not have an Oceanbulk a TNK Material Adverse Effect. Each TNK Vessel is seaworthy and in good operating condition, has all national and international operating and trading certificates and endorsements, each of which is valid, that are required for the operation of such TNK Vessel in the trades and geographic areas in which it is operated, except where such failure to be qualified would not have an Oceanbulk a TNK Material Adverse Effect.