Collateral Ships definition

Collateral Ships means any or all of them.
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Collateral Ships means, together, “BETA” and “OMICRON” and, in the singular, means either of them;
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Collateral Ships means, together, Destiny and Envoy and:
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Examples of Collateral Ships in a sentence

  • The Ship covenants in this Clause 14 which relate to the Collateral Ships shall prevail in the case of any inconsistency with the provisions in the mortgage in respect of the Collateral Ships which is the subject of the Pledge of Mortgage.

  • The insurance provisions in this Clause 13 which relate to the Collateral Ships shall prevail in the case of any inconsistency with the insurance provisions in the mortgage in respect of the Collateral Ships which is the subject of the Pledge of Mortgage.

  • The Borrower acknowledges and agrees that the Agent may obtain valuations of the Ship and the Collateral Ships at such times as the Lenders shall, acting reasonably, deem necessary and, in any event, with the first such valuations to be obtained no later that the date falling 6 months after the Drawdown Date, not less often than once during each 12-month period of the Security Period.

  • The Borrowers confirm, and procure that the Corporate Guarantor and the Collateral Charterers confirm, that the use of the Ships and the Collateral Ships is in compliance with the Russian Price Cap Framework and any other restrictions on Russian Oil Products.

  • The Lender may at any time by notice in writing request that any New Ships purchased pursuant to a Standby Facility Agreement become Collateral Ships.


More Definitions of Collateral Ships

Collateral Ships means the 9 ships listed as ships 1 to 9 (inclusive) in Schedule 6 which are owned by the relevant Owner at the date of this Agreement and are registered on the flag as indicated in that schedule (and which are sometimes referred to in this Agreement by their individual names listed in Schedule 6);
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Collateral Ships means, together, the Platon Ship, the Rea Ship, the Kronos Ship, the Socrates Ship and the Zeus Ship and, in the singular, means any of them;
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Collateral Ships means, together "OOCL CHINA" and "OOCL HONG KONG" and, in the singular, means either of them;
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Related to Collateral Ships

  • Mortgaged Vessel means, at any relevant time, any Vessel which is at such time subject to a Mortgage and a Vessel shall, for the purposes of this Agreement, be regarded as a Mortgaged Vessel as from the date on which the Mortgage of that Vessel has been executed and registered in accordance with this Agreement until whichever shall be the earlier of (i) the payment in full of the amount required to be paid to the Agent pursuant to clause 4.3 or 4.5 following the Total Loss or sale respectively of such Vessel and (ii) the end of the Facility Period;

  • Mortgaged Ship means a Ship which is subject to a Mortgage at the relevant time and, in the plural, means all of them;

  • Security Assets means any asset which is the subject of a Security Interest created by a Security Document.

  • Relevant Property means property of a kind affected by the transfer order, whether it is an estate or interest in land or any other property.

  • Fleet Vessels means all of the vessels (including, but not limited to, the Ships) from time to time wholly owned by members of the Group (each a “Fleet Vessel”);

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

  • Portfolio Assets means the portion of the net assets of the Fund managed by the Sub-Adviser pursuant to the following investment strategy as agreed to by the Adviser and the Sub-Adviser in a separately negotiated investment mandate: Emerging Markets (each a “Strategy”).

  • Authorised Investments means investments authorised by the instrument, if any, creating the trust for the investment of money subject to the trust, or by law;

  • Finance Leases means any finance leases, to the extent the arrangement is or would have been treated as a finance or a capital lease in accordance with the Accounting Principles applicable on the First Issue Date (a lease which in the accounts of the Group is treated as an asset and a corresponding liability), and for the avoidance of doubt, any leases treated as operating leases under the Accounting Principles as applicable on the First Issue Date shall not, regardless of any subsequent changes or amendments of the Accounting Principles, be considered as a finance lease.

  • Earnings Accounts means the bank accounts of each of the Obligors from time to time each of which shall be held with the Agent or any of the Agent’s corresponding banks and to which all the Earnings and any proceeds of the Insurances shall be paid.

  • Collateral Security Documents Any document or instrument given to secure or guaranty the Mortgage Loan, including without limitation, the Mortgage, each as amended, supplemented, assigned, extended or otherwise modified from time to time.

  • Receivables Facility Assets means presently existing and hereafter arising or originated Accounts, Payment Intangibles and Chattel Paper (as each such term is defined in the Uniform Commercial Code in effect in the State of New York from time to time) owed or payable to any Participating Receivables Grantor, and to the extent related to or supporting any Accounts, Chattel Paper or Payment Intangibles, or constituting a receivable, all General Intangibles and other forms of obligations and receivables owed or payable to any Participating Receivables Grantor, including the right to payment of any interest, finance charges, late payment fees or other charges with respect thereto (the foregoing, collectively, being “receivables”), all of such Participating Receivables Grantor’s rights as an unpaid vendor (including rights in any goods the sale of which gave rise to any receivables), all security interests or liens and property subject to such security interests or liens from time to time purporting to secure payment of any receivables or other items described in this definition, all guarantees, letters of credit, security agreements, insurance and other agreements or arrangements from time to time supporting or securing payment of any receivables or other items described in this definition, all customer deposits with respect thereto, all rights under any contracts giving rise to or evidencing any receivables or other items described in this definition, and all documents, books, records and information (including computer programs, tapes, disks, data processing software and related property and rights) relating to any receivables or other items described in this definition or to any obligor with respect thereto, and all proceeds of the foregoing.

  • Foreign flag vessel means any vessel that is not a U.S.-flag vessel.

  • existing vessel means a vessel that is not a new fishing vessel.

  • Sale Assets is defined in Section 5.2(a)(ii).

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Collateral has the meaning set forth in Section 2.

  • Debt bondage means the status or condition of a debtor arising from a pledge by the debtor of his or her personal services or of those of a person under his or her control as a security for debt, if the value of those services as reasonably assessed is not applied

  • U.S.-flag vessel means a vessel of the United States or belonging to the United States, including any vessel registered or having national status under the laws of the United States.

  • Hedge Collateral Defined in Section 5.3(b).

  • Collateral Security means security, other than a security interest in a motor vehicle that is the subject of an installment sale contract, that is given to secure performance of an obligation of the buyer, or of any surety or guarantor for the buyer, under an installment sale contract. The term includes the undertakings of any surety or guarantor for the buyer and any interest in, encumbrance on, or pledge of real or personal property other than the motor vehicle that is the subject of the installment sale contract.

  • Collateral savings, as used in this clause, means those measurable net reductions resulting from a VECP in the agency’s overall projected collateral costs, exclusive of acquisition savings, whether or not the acquisition cost changes.