Approved Flag Jurisdiction means Vanuatu, the Xxxxxxxx Islands, Mexico, Canada, Liberia and Panama. In connection with re-flagging any Fleet Assets from the United States to any Approved Flag Jurisdiction, Borrowers shall have delivered to Agent and Lenders an updated Acceptable Appraisal giving effect to such re-flagging before any such Fleet Asset may be an Eligible Fleet Asset.
Approved Flag Jurisdiction means the Republic of Xxxxxxxx Islands, the United States, Mexico (solely with respect to XXXXXX XXXXXX, SEACOR MIXTECA and XXX XXXXXXX XXXXXX), Nigeria (solely with respect to the bareboat registration of XXX X. XXXXXX and SEACOR CHEETAH) or such other jurisdiction as may be approved by the Security Trustee (acting at the direction of the Majority Lenders);
Approved Flag Jurisdiction means (x) the United States of America, Mexico, Brazil, Vanuatu, Xxxxxxxx Islands, Guyana, Colombia, and (y) any other flag state constituting an internationally recognized open ship registry used by U.S. shipping companies (as determined in good faith by the Borrower) or other flag state instituting a cabotage regime, which in the Borrower’s or any Restricted Subsidiary’s good faith judgment is necessary or desirable in order to pursue customer opportunities in such non-U.S. jurisdictions, in each case under this clause (y) subject to the approval of the Administrative Agent, such approval not to be unreasonably withheld, conditioned or delayed.
Examples of Approved Flag Jurisdiction in a sentence
To execute and deliver in favor of the Security Trustee on the date which the Vessel is reflagged under the laws of another Approved Flag Jurisdiction, a Mortgage, an Earnings Assignment, Insurances Assignment and, if applicable, a Charter Assignment, and arrange for the delivery of all such documents required thereunder.
More Definitions of Approved Flag Jurisdiction
Approved Flag Jurisdiction means Norway (either registry), Cyprus, Vanuatu, Mexico, Indonesia, Singapore, Isle of Man, Argentina, Brazil, the United Kingdom or any other jurisdiction reasonably acceptable to the Facility Agent (with the consent of the Majority Lenders);
Approved Flag Jurisdiction means Vanuatu, the Marshall Islands, Mexico, Canada, Liberia and Panama. In connection with re-flagging any Fleet Assets from the United States to any Approved Flag Jurisdiction, Borrowers shall have delivered to Agent and Lenders an updated Acceptable Appraisal giving effect to such re-flagging before any such Fleet Asset may be an Eligible Fleet Asset.
Approved Flag Jurisdiction means the Republic of Marshall Islands, the United States, or such other jurisdiction as may be approved by the Security Trustee (acting at the direction of the Majority Lenders);
Approved Flag Jurisdiction means the Republic of Xxxxxxxx Islands, the United States, or such other jurisdiction as may be approved by the Security Trustee (acting at the direction of the Majority Lenders);