Approved Flag State definition

Approved Flag State means the Xxxxxxxx Islands, Liberia or any other country in which the Agent, may in its sole and absolute discretion, approve that a Ship be registered;

Approved Flag State means any country in which the Facility Agent may with the authorisation of all the Lenders, approve that a Ship be registered, such approval not to be unreasonably withheld;

Approved Flag State means, in relation to Ship A, Ship B and Ship C, the Republic of the Xxxxxxxx Islands and, in relation to Ship D, the Republic of Malta or, in each case, any other country in which the Majority Lenders may, in their discretion, approve that such Ship be registered;

Examples of Approved Flag State in a sentence

• Approved Flag State means the Republic of the Xxxxxxxx Islands, the Republic of Liberia, the Republic of Vanuatu, the Bahamas, Panama, Malta, Denmark or such other jurisdiction as the Lender may approve at the request of the Owner, such approval not to be unreasonably withheld, conditioned or delayed.

• Each Borrower shall keep the Mortgage registered against its Ship as a valid first priority mortgage and if required by the Approved Flag State, carry on board such Ship a certified copy of the Mortgage and place and maintain in a conspicuous place in the navigation room and the Master’s cabin of such Ship a framed printed notice stating that that Ship is mortgaged by the relevant Owner to the Security Agent.

• Each Collateral Vessel is: (a) registered in the name of the relevant Obligor under the laws and flag of an Approved Flag State; (b) operationally seaworthy and in every way fit for service; (c) classed with the relevant Approved Classification free of all overdue requirements and recommendations of the relevant Approved Classification Society affecting class; and (d) insured in the manner required by the Financing Documents.

• Each Borrower undertakes, in relation to the Ship owned by it, not to employ that Ship, nor allow its employment in connection with any activities of any military nature and to ensure that the Ship operates and maintains its status as a merchant civil ship in accordance with the applicable laws of the relevant Approved Flag State.

• The choice of English law to govern the Finance Documents (other than the choice of (i) the law of the Approved Flag State to govern the Mortgage and (ii) the lex loci to govern the Accounts Pledge) and the submissions by the Security Parties to the jurisdiction of the English courts and the obligations of such Security Parties associated therewith, are valid and binding other than as otherwise provided in any legal opinions delivered to the Agent under Clause 9 (Conditions Precedent).

More Definitions of Approved Flag State

Approved Flag State means The Bahamas, Cyprus, Malta, Xxxxxxxx Islands, Liberia, Panama and Singapore or any other country in which the Agent may, with the consent of the Majority Lenders, approve from time to time in writing that a Ship be registered, such approval not to be unreasonably withheld;

Approved Flag State means any of Greece, Panama, Liberia, the Xxxxxxxx Islands, the Commonwealth of the Bahamas, Malta, Cyprus or Singapore or any other country in which the Lenders may, in their absolute discretion, approve that a Ship may be registered;

Approved Flag State means, in relation to a Ship, the Republic of Liberia, the Republic of the Marshall Islands, the Republic of Malta, the Republic of Panama, the Isle of Man or any other country in which the Agent may approve (such approval not to be unreasonably withheld or delayed) that that Ship is or, as the case may be, shall be registered;

Approved Flag State means, in relation to a Ship (other than a Collateral Ship), the Republic of the Xxxxxxxx Islands and in relation to a Collateral Ship, the Republic of Panama or any other country under which the Agent (acting on the instructions of the Majority Lenders) may approve that that Ship may be registered from time to time;

Approved Flag State means each of the states described in clause 12.3.1 together with any other state or country approved by the Lessor pursuant to clause 12.5.2;

Approved Flag State means the Republic of the Xxxxxxxx Islands, the Commonwealth of the Bahamas, the Republic of Liberia, the Republic of Panama, the Commonwealth of Bermuda, the Cayman Islands, the Isle of Man, Malta, Hong Kong, the United Kingdom, the Commonwealth of Australia, Barbados, Belgium, the Republic of Cyprus, Danish International Ship Register (DIS), Germany, Gibraltar, Greece, Norwegian International Ship Register (NIS), Norway, The Netherlands, Singapore, United States of America and any other flag state approved by the Administrative Agent in writing; provided that the total number of Collateral Vessels that may be registered under the United States of America flag at any one time shall be limited to two and such Collateral Vessels shall not be qualified Xxxxx Act vessels. The Administrative Agent shall, in giving any such approval, act on the instructions of all Lenders, unless no Lender has objected to any such other flag state within 15 days of a request for approval, in which case, the Administrative Agent shall act on the instructions of the Required Lenders.

Approved Flag State means Hong Kong, Singapore, Norway (NIS), Mxxxxxxx Islands, the Bahamas, Panama, Bermuda, Isle of Man, United Kingdom, Malta, Denmark (DIS) or such other jurisdiction as may be requested by the Borrower and approved in writing by the Agent (acting on the instructions of all Lenders with such consent not to be unreasonably withheld or delayed) from time to time.