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.