Eligible Vessel definition

Eligible Vessel means any vessel which is participating in the Pool pursuant to a Pool Agreement and which is not an Ineligible Vessel;

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Eligible Vessel means any pleasure craft not exceeding 65 feet in length overall excluding tenders. Tenders may be separately registered if they themselves are an eligible vessel.

Eligible Vessel means any inland river barge or towboat which is duly documented pursuant to the laws of the United States as a vessel of the United States under the United States flag, the whole of which vessel is lawfully owned and lawfully possessed by the Mortgagor, free from any Lien other than the Liens permitted by Section 2.7 hereof.

Examples of Eligible Vessel in a sentence

• At the written request of Borrowing Agent, Agent shall release its Lien on any Release Eligible Vessel so long as the Release Conditions are satisfied after giving effect to such release.

• Upon execution of the Supplement by the Mortgagee, the Mortgagor shall cause such Supplement to be recorded and shall otherwise take all steps necessary in order to subject the Eligible Vessel or Eligible Vessels named therein to the Lien of this Fleet Mortgage, subject to all of the terms and provisions hereof.

• MARAD may approve the replacement of an Eligible Vessel in a MSP Operating Agreement provided the replacement vessel is ▇▇▇- gible under § 295.10.

• The Grantors hereby covenant and undertake with Ambra that, from the date hereof and for the duration of the ROFR Period, they will not and they will ensure that no Owner will appoint a technical and crew ship manager for any ROFR Eligible Vessel unless it has (i) delivered an Offer Notice to Ambra and (ii) Ambra has declined (or is deemed to have declined) to agree to act as the technical and crew managers of the ROFR Eligible Vessel referred to in the Offer Notice.

• To the extent that appropriated funds are available after applying the first and second priority, any other Eligible Vessel.

• The Administrative Agent shall have received a duly authorized, executed and delivered Mortgage Trust Agreement, together with a trust receipt, as such term is defined therein, for a First Preferred Ship Mortgage and an Assignment of Insurances with respect to each Vessel that is an Eligible Vessel.

• For the purpose of the deemed appointment, the Grantors shall be deemed to have full authority to appoint Ambra as technical and crew ship managers of the ROFR Eligible Vessel on behalf of the Owner of such ROFR Eligible Vessel.

• Any Vessel Mortgage Trustee retiring or proposing to retire in such capacity shall, subject to the provisions set forth in Section 9.09, assign its rights as Mortgagee under the Vessel Mortgages in fact and of record with the United States Coast Guard to a successor Collateral Agent (selected with the approval of the Collateral Agent in accordance with the procedures specified in Section 9.09) that is an Eligible Vessel Trustee, which shall thereafter act as Mortgagee under the Vessel Mortgages.

• The Administrative Agent shall promptly notify each Lender following the addition of each new Eligible Vessel.

• Any Inter Company Charters whether now existing or entered into after the date hereof shall be subject and subordinate in all respects to (i) the lien of the Ship Mortgage in respect of the Eligible Vessel that is the subject of such Inter Company Charter and (ii) the rights of the Collateral Agent as trustee under such Ship Mortgage.

More Definitions of Eligible Vessel

Eligible Vessel of a qualified corporation means a vessel in respect of which a qualification certificate was issued to the corporation by the Minister of Economy and Innovation for the purposes of this division;”.

Eligible Vessel of a qualified corporation means a vessel constructed or converted in Québec by the corporation under a project in respect of which the Minister of Economic Development, Innovation and Export Trade has issued a qualification certificate, for the purposes of this division, attesting that the vessel will be a prototype vessel, or the first, second or third vessel constructed or converted, as the case may be, as part of a production run;

Eligible Vessel. , means a sea-going vessel that has been, is being or is to be built in Fiji by or on behalf of that person at a cost of not less than $250,000;