Excluded Vessel definition

Excluded Vessel means, at any time, a marine vessel subject to a Lien permitted under Section 8.2(d), 8.2(e) or 8.2(m).
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Excluded Vessel means a vessel which—
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Excluded Vessel means any Vessel owned by a Loan Party that constitutes Excluded Collateral. The Excluded Vessels as of the Closing Date are identified as such on Schedule 1.01(a), which Schedule also sets forth the basis for each such Vessel being an Excluded Vessel.
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Examples of Excluded Vessel in a sentence

  • Schedule 13 hereto sets forth the name of each Vessel owned by any Pledgor, the official number of such Vessel, a description of such Vessel, the name of the documented owner of such Vessel, whether such Vessel constitutes a Collateral Vessel or an Excluded Vessel, and for each Collateral Vessel, the appropriate filing office for the Collateral Vessel Mortgage in respect of such Collateral Vessel.

  • Schedule 13 hereto sets forth the name of each Vessel owned by any Pledgor, the official number of such Vessel, a description of such Vessel, the name of the documented owner of such Vessel, whether such Vessel constitutes an ABL Priority Collateral Vessel, a Term Loan Priority Collateral Vessel or an Excluded Vessel, and for each Collateral Vessel, the appropriate filing office for the Collateral Vessel Mortgage in respect of such Collateral Vessel.

  • Within 15 Business Days following the Closing Date, the Administrative Agent shall cause the Mortgage Trustee to release of record each Excluded Vessel and each Ineligible Vessel which is subject to any First Preferred Ship Mortgage as of the Closing Date.

  • None of the Borrower or the Owner Guarantors shall acquire any capital assets (including any vessel other than a Vessel) by purchase, charter or otherwise, provided that for the avoidance of doubt nothing in this Clause 11.2(k) shall prevent or be deemed to prevent capital improvements being made to a Vessel or an Excluded Vessel.

  • No Loan Party shall be required to xxxxx x Xxxx in any Excluded Vessel to the Collateral Agent for the benefit of the Secured Parties; provided, however, any Loan Party or Restricted Subsidiary may elect to xxxxx x Xxxx in any Excluded Vessel to the Collateral Agent for the benefit of the Secured Parties, including for purposes of including any such Vessel in the calculation of the Collateral Coverage Ratio and the RCF Collateral Coverage Ratio.

  • None of the Borrower or the Owner Guarantors shall acquire any capital assets (including any vessel other than a Vessel) by purchase, charter or otherwise, 73 ‌ provided that for the avoidance of doubt nothing in this Clause 11.2(k) shall prevent or be deemed to prevent capital improvements being made to a Vessel or an Excluded Vessel.

  • In deciding whether to award fees, the court may consider several factors, including: (1) the insurer’s good faith, or lack thereof; (2) excessiveness of the plaintiff’s demands; (3) bona fides of one or both of the parties; (4) the insurer’s justification in litigating the issue; (5) the insured’s conduct in contributing to the necessity oflitigation; (6) the general conduct of the parties; and (7) the totality of the circumstances.

  • In the event any Loan Party or Restricted Subsidiary makes such election, such Loan Party or Restricted Subsidiary shall satisfy the requirements of this Section 6.11(d) in respect of such Vessels (assuming, for such purpose, that such Vessel does not constitute an Excluded Vessel).

  • Schedule 4.16 identifies (i) each Vessel owned on the date hereof that secures NMFFP Financing permitted by clause (b) of Section 6.04, and (ii) each Vessel owned on the date hereof that is to be an Excluded Vessel because it is to be scrapped or sold within the next twelve (12) months.


More Definitions of Excluded Vessel

Excluded Vessel means any vessel owned by an Excluded Subsidiary.
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Excluded Vessel means (a) the Non-Core Vessels and (b) any Vessel acquired or constructed after the Issue Date that is not required by the Credit Agreement to be mortgaged to secure the Senior Secured Credit Facility Obligations, provided, in each case, that such Vessels are not pledged to secure any First Lien Obligations.
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Excluded Vessel means any Vessel owned from time to time by the Borrower or any Guarantor (i) that is an Excluded Foreign Flag Vessel, (ii) that is under construction and has not been delivered to the Borrower or a Guarantor, (iii) that is a Low-Spec Vessel or (iv) that is an Excluded Asset, other than any such Vessel that the Borrower has elected to cause to become Collateral.
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Excluded Vessel shall have the meaning given to it in clause 2.16.7;
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Excluded Vessel means any Vessel owned by a Loan Party that constitutes Excluded Collateral. The Excluded Vessels as of the Closing Date are identified as such on Schedule 1.01(a) , which Schedule also sets forth the basis for each such Vessel being an Excluded Vessel.
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Related to Excluded Vessel

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

  • 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;

  • Documented vessel means a vessel documented under chapter 121, title 46, United States Code or a vessel for which an application for such docu- mentation is pending.

  • 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:

  • 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.

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

  • Foreign-going vessel means any vessel other than coastal vessel.

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

  • Passenger vessel means any boat, ship, vessel, barge, or other floating craft of any kind carrying passengers for compensation.

  • 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”);

  • 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;

  • foreign vessel means any vessel other than a coastal vessel.

  • existing vessel means a vessel which is not a new vessel;

  • 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.

  • 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.

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

  • foreign ship means a ship which—

  • Commercial vessel means any vessel not owned and operated by the United States military or the United States Coast Guard.

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

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

  • 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.

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

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

  • Domestic Transportation means air transportation between points in Canada, from and to the same point in Canada or between Canada and a point outside Canada that is not in the territory of another country.

  • Certified Minority Business Enterprise means a business which has been certified by the certifying organization or jurisdiction in accordance with s. 287.0943(1) and (2).

  • Qualified machinery and equipment means all new industrial