Company Vessels definition

Company Vessels means Company Owned Vessels and Company Leased Vessels.
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Company Vessels shall have the meaning ascribed to such term in Section 4.13(a). "Construction Contract" shall have the meaning ascribed to such term in Section 4.10(c).
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Company Vessels shall have the meaning set forth in Section 5.1(p)(i).
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Examples of Company Vessels in a sentence

  • There is no unsatisfied judgment, penalty or award against the Company, any of its Subsidiaries or any Company Vessels (including in connection with any pool in which a Company Vessel is entered).

  • Except as set forth in Section 4.16 of the Company Disclosure Letter or as would not reasonably be expected to be material to the Company and its Subsidiaries, taken as a whole, as of the date of this Agreement, there is no Action pending or, to the Knowledge of the Company, threatened against the Company, any of its Subsidiaries or any Company Vessels (including in connection with any pool in which a Company Vessel is entered).

  • No Company Entity owns, operates, leases or charters any vessels other than the Company Vessels set forth on Section 3.20(a) of the Company Disclosure Letter.

  • The Parties shall each cooperate and consult with each other in connection with obtaining the release and discharge of the current mortgages and other Liens on the Company Vessels and such other matters as may be necessary or desirable in order to effectuate the transfer of ownership and operation of the Company Vessels to Cal Dive, and the assumption, repayment, refinancing, or satisfaction of the Company’s existing funded Indebtedness by Cal Dive.

  • The Company and its Subsidiaries maintain (i) insurance policies and fidelity bonds covering the Company, its Subsidiaries or their respective businesses, properties, assets, directors, officers or employees, and (ii) protection and indemnity, hull and machinery and war risks insurance policies and club entries covering the Company Vessels in such amounts and types as are customary in the shipping industry (collectively, the "Policies").

  • Each Company Vessel is lawfully documented and each Company Vessel and owner of such Company Vessel complies with all applicable Legal Requirements of the United States of America or any jurisdiction to which the Company Vessels may in addition be subject, in each case, except as would not be material to the Company and its Subsidiaries taken as a whole.

  • Each of the Company and its Subsidiaries is, and at the Effective Time will be, a citizen of the United States, within the meaning of Section 2 of the Shipping Act of 1916, 46 U.S.C. §50501, as amended, eligible to own and operate the Company Vessels in the trade of the United States in which they operate.

  • For purposes hereof, the "Adjusted Net Current Assets" for the Companies shall mean an amount, calculated as of the date of determination, equal to the aggregate current assets of the Companies other than inventory (including all spare parts, stores and supplies relating to Company Vessels) reduced by the aggregate liabilities (both current and long-term, if any) of the Companies.

  • The Company and each of its Subsidiaries that owns or operates Company Vessels in the coastwise trade of the United States of America is a citizen of the United States of America pursuant to Section 2 of the Shipping Act of 1916, as amended, and is fully qualified to own and operate vessels in the coastwise trade of the United States of America.

  • Except with respect to Taxes, Environmental Laws and ERISA, which are the subjects of Section 4.9, Section 4.12 and Section 4.13, each of the Company and its Subsidiaries has materially complied with since the Company Inception Date, and is now complying with, and has not received any written notice alleging any violation with respect to, all Laws, Orders and Maritime Guidelines applicable to it or its business, properties or assets (including the Company Vessels).


More Definitions of Company Vessels

Company Vessels has the meaning set forth in Section 3.1(mm)(i).
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Company Vessels means a vessel owned by the Company or any Subsidiary of the Company, excluding any Newbuildings.
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Related to Company Vessels

  • 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.

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

  • 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”);

  • 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:

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

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

  • Pressure vessel means containers for the containment of pressure, either internal or external. This pressure may be obtained from an external source or by the application of heat from a direct or indirect source, or any combination thereof.

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

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

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

  • Tanker in relation to chapter 4 means an oil tanker as defined in MARPOL Annex I, regulation 1 or a chemical tanker or an NLS tanker as defined in MARPOL Annex II, regulation 1.

  • 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;

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

  • Rig means any mobile offshore drilling unit (including without limitation any jack-up rig, semi-submersible rig, drillship, and barge rig).