Additional Ship definition

Additional Ship means any ship which is, or is to be, purchased by an Additional Ship Owner, each of which (unless all of the Lenders acting in their absolute discretion agree otherwise) must satisfy all the Additional Ship Requirements;
Additional Ship means any of them;
Additional Ship means each of “SAMATAN” and “PACHINO” and, in the plural, means both of them;

Examples of Additional Ship in a sentence

  • The payment by the Facility Agent under Clause 4.7 to an Additional Ship Seller or any other third party shall constitute the making of the Advance and the Borrower shall thereupon become indebted, as principal and direct obligor, to each Lender in an amount equal to that Lender’s Contribution.

  • Unless waived by the Collateral Agent, with respect to each such Additional Ship Mortgage, the Borrower shall deliver to the Collateral Agent contemporaneously therewith vessel and, alternatively, UCC title insurance policies and otherwise comply with the Collateral Requirements applicable to Ship Mortgages and Mortgaged Vessels.

  • Accordingly, the parties, by mutual agreement, may add the m.v. Meridian to this Agreement as an Additional Ship, whereupon SeaVision shall install and operate the System on-board the m.

  • The obligation of the Banks to make any Advance of Facility B for an Additional Ship which is a newbuilding constituting in part Expected Project Costs shall be subject to the further condition that the Agent, or its duly authorised representative, shall have received invoices or pro-forma invoices itemised in a written inventory which properly and accurately represents the Expected Project Costs to the satisfaction of the Agent in its sole discretion.

  • The obligation of the Bank to make available the first Advance to be drawn down under the Additional Tranche, shall be subject to the condition that the Bank or its duly authorised representative shall have received, on or prior to the drawdown of such Advance, the documents and evidence specified in Part 4 of schedule 2 in respect of the Additional Ship in form and substance satisfactory to the Bank.


More Definitions of Additional Ship

Additional Ship means any vessel which is:
Additional Ship means each of “MYSTIC” and “OREGON” and, in the plural, means both of them;
Additional Ship means each of “STAR DELTA”, STAR EPSILON”, “STAR GAMMA”, “STAR THETA” and “STAR ZETA and, in the plural, means all of them;
Additional Ship means any product tanker of not less than approximately 35,000 metric tons deadweight, nominated by the Borrowers and approved by the Lenders pursuant to Clause 11.21 as an “Additional Ship” for the purposes of this Agreement, which on the date of the Lenders’ approval is not more than 6 years old, to be registered in the ownership of Additional Owner under an Approved Flag pursuant to the terms of an Approved MOA (or through the acquisition by LR Holding of the whole of the issued share capital of that Additional Owner pursuant to the terms of an Approved SPA), and, in the plural, means any all of them;
Additional Ship means a newbuilding vessel approved by the Lender in its sole discretion which is being constructed pursuant to the relevant Additional Ship Contract and which shall be financed under either Tranche pursuant to the terms and this Loan Agreement and, in the plural, means all of them;
Additional Ship means each ship of the Approved Type registered or (as the context may require) to be registered in the name of an Additional Borrower under the laws and flag of the relevant Flag State through the relevant Registry, following the Agent’s approval of a relevant Request pursuant to clause 2.5.9 and, in relation to an Additional Borrower, it means the Borrower owning or (as the context may require) intended to own such Additional Ship and “Additional Ships” means either or both of them;
Additional Ship means a containership of 1,500 TEU to 8,500 TEU owned by a company which becomes, or is to become, an Additional Guarantor and which has been approved for such purposes by the Agent pursuant to Clause 4.2 (Availability of Loans for Additional Ships).