Cure Vessel definition

Cure Vessel means an otherwise unencumbered vessel (other than a Vessel) in respect of which a first priority mortgage is provided by the Group in favour of the Bond Trustee as additional security as per Clause 13.5.
Sample 1Sample 2Sample 3
Cure Vessel means an otherwise unencumbered vessel (other than a Vessel) in respect of which a first priority mortgage and other security based on the existing Transaction Security Documents is provided by the Group in favour of the Security Agent (on behalf of the Secured Parties) as additional security.
Sample 1
Cure Vessel means an otherwise unencumbered vessel (other than a Vessel) in respect of which a first priority mortgage and other security based on the existing Security Documents is provided by the Group in favour of the Security Agent (on behalf of the Secured Parties) as additional security.
Sample 1

Examples of Cure Vessel in a sentence

  • To refurbish the ADC car park to comply with modern day structural and safety standards and to provide a car park that is aesthetically attractive to encourage increased use and to meet the car parking needs of the city.

  • If a Cure Vessel or cash collateral has been provided in accordance with this Clause 20.3, the security arrangement or relevant cash deposit amount shall be released, or, as the case may be in respect of the cash collateral, partly-released, by the Security Agent at the request of the Company, if the Company to the satisfaction of the Agent has demonstrated that following such release or part-release, it will be in compliance with the maximum Leverage Ratio covenant.

Related to Cure Vessel

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

  • 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.

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

  • 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:

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

  • 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.

  • 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”);

  • storage vessel means a pressure vessel as defined in the Regulations for Pressure Vessels made under the Occupational Health and Safety Act;

  • 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;

  • Passenger vessel means any boat, ship, vessel,

  • 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.

  • Delivery vessel means tank trucks or trailers equipped with a storage tank and used for the transport of gasoline from sources of supply to stationary tanks of gasoline dispensing facilities.

  • 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;

  • 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.

  • fishing vessel means a vessel used for catching fish, whales, seals, walrus or other living resources of the sea;

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

  • 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.

  • Rig means, collectively, offshore drilling rigs, including, semisubmersibles, drillships, xxxx-ups, semisubmersible tender assist vessels and submersible rigs, owned by the Borrower and/or any Subsidiary of the Borrower, and, individually, any of such rigs.

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

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

  • Berth means the berth to be constructed in the new inner harbour including the supporting structure for the shiploader, to be constructed by the Company pursuant to Clause 4(2)(a) hereof and includes the land approaches and ancillary equipment thereto;

  • Barge means a vessel that is not self-propelled.

  • co-operative society means a body registered in India under the Co-operative Societies Act, 1912;

  • 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.

  • 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.

  • Relevant Ship means the Ships and any other vessel from time to time (whether before or after the date of this Agreement) owned, managed or crewed by, or chartered to, any Relevant Party;