Collateral Vessel Owner definition

Collateral Vessel Owner means, at any time, a Subsidiary Guarantor which owns a Collateral Vessel.
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Collateral Vessel Owner means any Person that owns a Collateral Vessel.
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Collateral Vessel Owner has the meaning ascribed thereto in the Preamble to this Agreement;
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Examples of Collateral Vessel Owner in a sentence

  • Except as provided in Section 6 of this Article IV, no amendment or waiver of or consent to any departure from any provision of this Mortgage shall be effective unless it is in writing and signed by the Security Trustee and the Collateral Vessel Owner.

  • The Collateral Vessel Owner is a limited liability company formed and existing under the laws of Delaware.

  • The Administrative Agent, the Security Trustee and each of their respective successors and assigns shall not be responsible for any premiums, club calls, if any, assessments or any other obligations or for the representations and warranties made therein by any Collateral Vessel Owner, the Borrower, any of the Borrower’s Subsidiaries or any other Person.

  • The relevant Collateral Vessel Owner shall have received or shall receive substantially simultaneously with funding of the Loans with respect to the relevant Collateral Vessel, title to the relevant Collateral Vessel, and such Collateral Vessel Owner shall at such time be the record and beneficial owner of such Collateral Vessel free and clear of all liens other than the Permitted Liens.

  • This Mortgage is and will be the legal, valid and binding obligation of the Collateral Vessel Owner enforceable in accordance with its terms, subject as to enforcement only to bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and equitable principles.

  • Each Collateral Vessel Owner shall use reasonable efforts to obtain and to maintain a green passport notification (based on the IHM) for the Collateral Vessels from an Acceptable Classification Society.

  • The Borrower will, and will cause each Collateral Vessel Owner to, keep each Vessel owned by such Collateral Vessel Owner (except for any Vessel that is laid up) in such condition as will entitle such Vessel to maintain its classification, as is applicable for Vessels of comparable age and type, by the American Bureau of Shipping or another internationally recognized classification society reasonably acceptable to the Administrative Agent.

  • Each Collateral Vessel Owner shall have received or shall receive substantially simultaneously with funding of the Loans with respect to the relevant Collateral Vessel, title to the relevant Collateral Vessel, and such Collateral Vessel Owner shall at such time be the record and beneficial owner of such Collateral Vessel free and clear of all liens other than the Permitted Liens.

  • All of the covenants, promises, stipulations and agreements of the Collateral Vessel Owner contained in this Mortgage shall bind the Collateral Vessel Owner and its successors and assigns and shall inure to the benefit of the Mortgagee and its successors and assigns.

  • Lender shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in any Debtor, Collateral Vessel Owner or Pledgor, which right or equity is hereby expressly released to the extent permitted by applicable law.


More Definitions of Collateral Vessel Owner

Collateral Vessel Owner means each Person that directly holds an ownership interest in a Collateral Vessel.
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Collateral Vessel Owner means, at any time, a Subsidiary Guarantor which owns a Collateral Vessel. “ Commercial Management Agreements ” shall mean, collectively (a) that certain Commercial Management Agreement, dated as of the Closing
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Related to Collateral Vessel Owner

  • 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;

  • 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”);

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

  • 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.

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

  • foreign vessel means any vessel other than a coastal vessel.

  • Coastal vessel means any vessel exclusively employed in trading between any port or place in India to any other port or place in India having a valid coastal license issued by the competent authority.

  • Foreign-going vessel means any vessel other than coastal vessel.

  • foreign fishing vessel means any fishing vessel other than a local fishing vessel;

  • Vessel means the vessel/craft belonging to the Contractor for carrying out the work.

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

  • Cargo vessel means a self-propelled ship in commerce, other than a tank vessel or a passenger vessel, three hundred or more gross tons, including but not limited to, commercial fish processing vessels and freighters.

  • Vessels shall have the meaning set forth in the recitals.

  • Public vessel ’ means a vessel owned or bareboat chartered and operated by the United States, by a State or political subdivision thereof, or by a foreign nation, except when such vessel is engaged in commerce;

  • The Vessel means the vessel named in Box 5 and with particulars as stated in Boxes 6 to 12.

  • Ship Mortgage means a Ship Mortgage or Additional Ship Mortgage substantially in the form of Exhibit E-2 to the 2008 Credit Agreement (with such changes as are reasonably consented to by the Collateral Agent to account for local law matters) made by the applicable Loan Party in favor of Collateral Agent for the benefit of the Secured Parties, as the same may be amended, supplemented or otherwise modified from time to time, together with an Earnings Assignment and an Insurance Assignment made by the applicable Loan Party for each Mortgaged Vessel, and such other agreements reasonably acceptable to Collateral Agent as shall be necessary to comply with applicable requirements of law and effective to grant in favor of Collateral Agent for the benefit of the Secured Parties a first preferred mortgage within the meaning of the Ship Mortgage Act on the Mortgaged Vessel covered thereby, subject only to Permitted Liens.

  • Tank vessel means a ship that is constructed or adapted to carry, or that carries, oil in bulk as cargo or cargo residue, and that:

  • Charterer means a person, firm, corporation, association, partnership, or other legal entity who contracts for the transportation of passengers and baggage, or goods and/or property from a specified origin to a specified destination, for a particular itinerary, agreed upon in advance.

  • Bareboat Charter means the bareboat charter agreement to be executed by the Effective Date by the Borrower as owner and the Charterer as bareboat charterer.

  • Approved Manager means, in relation to each Ship, Allseas Marine S.A. a corporation organised and existing under the laws of the Republic of Liberia, having its registered office at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxx and maintaining a ship management office at Voula Center, Xxxxxxxx Xxxxxx Xxxxxx 000-000, 000 00 Xxxxx, Xxxxxx or any other company which the Agent may, with the authorisation of the Majority Lenders, approve from time to time as the technical and/or commercial manager of a Ship;

  • foreign ship means a ship which—

  • U.S.-flag air carrier means an air carrier holding a certificate under 49 U.S.C. Chapter 411.

  • Covered vessel means a tank vessel, cargo vessel, or passenger vessel.

  • Real Property Security Documents means the Landlord Consent and any mortgage or deed of trust or any other real property security document executed or required hereunder to be executed by any Obligor and granting a security interest in real Property owned or leased (as tenant) by any Obligor in favor of the Lenders.

  • Passenger vessel means any boat, ship, vessel,

  • Property Owner means any person shown as the owner of land on the last equalized assessment roll or otherwise known to be the owner of land by the city council. “Business owner” means any person recognized by the city as the owner of the business. “Owner” means either a business owner or a property owner. The city council has no obligation to obtain other information as to the ownership of land or businesses, and its determination of ownership shall be final and conclusive for the purposes of this part. Wherever this part requires the signature of the property owner, the signature of the authorized agent of the property owner shall be sufficient. Wherever this part requires the signature of the business owner, the signature of the authorized agent of the business owner shall be sufficient.