Covered vessel means a tank vessel, cargo vessel, or passenger 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.
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:
Vessel means every description of watercraft, other than a seaplane on the water, used or capable of being used as a means of transportation on water.
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;