Examples of Barge in a sentence
Each Obligor shall ensure that the Barge remains registered in the Finnish ship registry.
No Restricted Obligor shall make any investments or capital expenditures other than solely related to the ownership of the Barge, and only where such investments or capital expenditures are in the ordinary course of business or otherwise fully pre-funded by equity or loans subordinated under the Subordination Agreement.
Upon request of the Agent, the Obligors shall arrange for the Agent, and/or any persons appointed by the Agent, to undertake a technical inspection of the Barge without interference of the daily operation of the Barge and at the expense of the Issuer (however limited to one yearly inspection at the expense of the Issuer unless an Event of Default has occurred and is continuing).
No Obligor shall cause any substantial modifications, refurbishment and upgrade to the Barge or its dimensions, functions, machinery and equipment if such modification is likely to have a material adverse impact on the value of the Barge.
No Obligor shall cause the flag, name or registry of the Barge to be changed, or register the Barge simultaneously in more than one registry, without the prior written consent of the Agent.