Acceptable Classification Society definition

Acceptable Classification Society means DNV GL, Lloyds Register, American Bureau of Shipping (ABS) and Bureau Veritas or such other first class vessel classification society that is a member of the International Association of Classification Societies.

Acceptable Classification Society means any of DNV GL, Lloyds Register, American Bureau of Shipping (ABS) and Bureau Veritas, or any other first class vessel classification society that is a member of the International Association of Classification Societies.

Acceptable Classification Society. (or “Class”) means a non-governmental organization that is a member of the International Association of Classification Societies and recognized by the Flag State of a Vessel, which certifies that a Vessel

Examples of Acceptable Classification Society in a sentence

• Each Collateral Vessel is (i) classified in the highest class available for vessels of its age and type by an Acceptable Classification Society, free of any conditions or recommendations, other than as permitted, or as will be permitted, under the Collateral Vessel Mortgages and (ii) flagged in an Acceptable Flag Jurisdiction.

• Each Subsidiary Guarantor that owns a Collateral Vessel shall use reasonable efforts to obtain and to maintain a Class-approved Inventory of Hazardous Materials from an Acceptable Classification Society.

• Each Collateral Vessel Owner shall use reasonable efforts to obtain and to maintain a green passport notification (based on the IHM) for the Collateral Vessels from an Acceptable Classification Society.

• Each Collateral Vessel is (i) or will be, classified in the highest class available for Vessels of its age and type with an Acceptable Classification Society, free of any conditions or recommendations, other than as permitted, or will be permitted, under the Collateral Vessel Mortgage, and (ii) flagged in an Acceptable Flag Jurisdiction.

• Each Collateral Vessel is or will be classified in the highest class available for vessels of its age and type by an Acceptable Classification Society, free of any conditions or recommendations, other than as permitted, or as will be permitted, under the Vessel Mortgages.

• The Shipowner covenants to deliver annually to the Mortgagee a certificate from such Acceptable Classification Society showing such classification to be maintained.

• Each Collateral Rig owned by the Company or a Restricted Subsidiary is operated in compliance with all applicable law, rules and regulations (applicable to such Collateral Rig and as required by an Acceptable Classification Society), except where failure to comply with such law, rules, regulations or other requirements could not reasonably be expected to have a Material Adverse Effect.

• The Collateral Vessel is (i) or will be, classified in the highest class available for Vessels of its age and type with an Acceptable Classification Society, free of any conditions or recommendations, other than as permitted, or will be permitted, under the Collateral Vessel Mortgage, and (ii) flagged in an Acceptable Flag Jurisdiction.

• The Borrower or the relevant Collateral Vessel Owner shall deliver to the Administrative Agent within 45 days of a Scrubber Loan Borrowing Date an International Air Pollution Prevention Certificate or other similar certificate issued by an Acceptable Classification Society evidencing the installation and performance of the scrubbers being financed by such Scrubber Loan Borrowing.

• Each Subsidiary Guarantor that owns a Collateral Vessel shall use reasonable efforts to obtain and to maintain a class-approved Inventory of Hazardous Materials from an Acceptable Classification Society.

More Definitions of Acceptable Classification Society

Acceptable Classification Society. (or “Class”) means a non-governmental organization that is a member of the International Association of Classification Societies and recognized by the Flag State of a Vessel, which certifies that a Vessel complies with certain standards and specifications, and which ensures ongoing compliance with such standards and specifications.

Acceptable Classification Society means American Bureau of Shipping, Nippon Kaiji Kyokai, Lloyd’s Register of Shipping, Bureau Veritas and DNV GL, or such other first class vessel classification society that is a member of the International Association of Classification Societies that the Required Lenders may approve from time to time.

Acceptable Classification Society means DNV GL, Lloyd’s Register, Korean Register of Shipping, American Bureau of Shipping (ABS), Bureau Veritas, Nippon Kaiji Kyokai (ClassNK) and Chinese Classification Society (solely to the extent a dual Class is applied, and the Chinese Classification Society is the Second Class) or such other first class vessel classification society that is a member of the International Association of Classification Societies that the Required Lenders may approve from time to time.

Acceptable Classification Society means DNV, Lloyd’s Register, American Bureau of Shipping (ABS), Bureau Veritas, Nippon Kaiji Kyokai or such other vessel classification society that the Administrative Agent (acting on instructions from the Required Lenders) may approve from time to time.

Acceptable Classification Society. (a) the American Bureau of Shipping, (b) Bureau Veritas, (c) DNV, (d) Lloyd’s Register, (e) Nippon Kaiji Kyokai (ClassNK), (f) such other first-class vessel classification society that is a member of the International Association of Classification Societies (excluding any such societies that exist as of the Effective Date and are not listed in clauses (a) though (e) of this definition) and (g) such other classification society as is selected by the Company with the prior written consent of the Administrative Agent (not to be unreasonably withheld, conditioned or delayed).