Company Vessel definition
Examples of Company Vessel in a sentence
With respect to each documented or registered Company Vessel owned by the Company or by any of the Company Subsidiaries, the Company or such Company Subsidiary, as applicable, has valid and marketable title to such Company Vessel, free and clear of all Liens, other than Permitted Liens, except as would not, individually or in the aggregate, reasonably be expected to be material to the Company and the Company Subsidiaries, taken as a whole.
Each Company Vessel that has been documented under the Laws of the United States with a coastwise endorsement as of January 1, 2023 has maintained such coastwise endorsement.
As of the date of this Agreement, since January 1, 2023, there has been no suit, claim, action, proceeding, arbitration or governmental investigation (collectively, “Proceeding”) to which the Company, any Company Subsidiary, or any Company Vessel (in rem) is a party pending or, to the knowledge of the Company, threatened in writing that, individually or in the aggregate, would reasonably be expected to be material to the Company and the Company Subsidiaries, taken as a whole.
Each material Company Vessel that is eligible to be, or is required to be, documented under the Laws of the United States is eligible for a coastwise endorsement.
Neither the Company nor any Company Subsidiary nor any Company Vessel is subject to any outstanding or unsatisfied Judgment of any Governmental Entity or arbitrator or any settlement agreement that, individually or in the aggregate, would reasonably be expected to be material to the Company and the Company Subsidiaries, taken as a whole.
With respect to each Company Vessel that the Company or any of the Company Subsidiaries leases on a bareboat (i.e., demise) basis from third parties, as of the date hereof, each such lease is valid and subsisting in all material respects, and such leasehold interests are free and clear of Liens, other than Permitted Liens.