Company Fleet definition
Examples of Company Fleet in a sentence
Except as would not have, individually or in the aggregate, a Company Material Adverse Effect, the drilling units listed in the Company Fleet Report have been maintained consistent with general practice in the offshore drilling industry and are in good operating condition and repair, subject to ordinary wear and tear.
This Agreement shall become effective immediately after the “Effective Time” (as that term is defined in the Agreement and Plan of Merger and Reorganization among the Company, Fleet Merger Corporation and FreeMarkets, Inc.
The Company has made available to Parent true, correct and complete copies of all current class status reports from the relevant class societies relating to Company Fleet Assets.
To the extent consistent with its operating status, each Company Fleet Asset is seaworthy, has all material national and international operating certificates and endorsements, each of which is valid, that are required for the operation of such Company Fleet Asset in the trades and geographic areas in which it is operated.
The Insurance Policies include (A) insurance policies and fidelity bonds covering the Company, its Subsidiaries and their respective businesses, properties, assets, directors, officers or employees, and (B) protection and indemnity, hull and machinery and war risks insurance policies and club entries covering the Company Fleet Assets in such amounts and types as are customary in the industry in which the Company and its Subsidiaries operate.
Prior to Closing, the Company shall prepay any amounts outstanding under, and shall use its reasonable best efforts to terminate, the Loan Agreement dated as of March 19, 1999 between the Company, Fleet National Bank and the other banks party thereto.
In the event that the Agreement for Stock Transfer Agent Services, dated as of March 1, 2001, among the Company, Fleet National Bank, the Rights Agent and EquiServe Limited Partnership, terminates, the Rights Agent will be deemed to resign automatically on the effective date of such termination; and any required notices will be sent by the Company and the Rights Agent.
This Agreement shall have no legal effect unless the merger among the Company, Fleet Merger Corporation and FreeMarkets, as contemplated by the Merger Agreement (the “Merger”), is consummated.
Except as provided in the Amended and Restated Revolving Credit Agreement, dated as of October 28, 2003, among certain subsidiaries of the Company, Fleet National Bank, as Administrative Agent, Fleet Securities, Inc., as Sole Lead Arranger, and other lender parties, (the "Credit Agreement") the outstanding capital stock of each of the Company's subsidiaries is free and clear of any security interest, mortgage, pledge, lien, encumbrance or claim.
The Company and each of its Subsidiaries and Joint Venture Affiliates are qualified in all material respects to own and operate the Company Fleet Assets, as set forth on Section 4.10(a) of the Company Disclosure Letter, under Applicable Law, including the Applicable Laws of each Company Fleet Asset’s flag state.