First Preferred Fleet Mortgage definition

First Preferred Fleet Mortgage means that certain First Preferred Fleet Mortgage of even date herewith executed and delivered by the Grantor in favor of the Secured Party, as such agreement may be amended, restated, supplemented, or otherwise modified from time to time.

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First Preferred Fleet Mortgage means the First Preferred Fleet Mortgage dated as of April 1, 2003 by Midstream Barge Company, L.L.C. in favor of Wilmington Trust Company, as Corporate Trustee and John M. Beeson, Jr., as Individual Trustee, as the same may be ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇ restated, supplemented, replaced or otherwise modified from time to time in accordance with the Loan Documents.

First Preferred Fleet Mortgage. The First Preferred Fleet Mortgage dated as of the date hereof from the Borrower to the Agent and substantially in the form of Exhibit L attached hereto.

Examples of First Preferred Fleet Mortgage in a sentence

• In this First Preferred [Fleet] Mortgage, clause headings are inserted for convenience of reference only and shall be ignored in the interpretation of this First Preferred [Fleet] Mortgage.

• The Mortgagee hereby accepts all of the terms and conditions set forth in this First Preferred Fleet Mortgage and the first preferred mortgage lien granted hereby.

• This Note is one of the promissory notes issued under and pursuant to the Credit Agreement and is secured by, among other things, a U.S. First Preferred Fleet Mortgage on fifteen U.S. flag drilling rigs dated December 17, 1993, as amended, and Bahamian Statutory Mortgages and a Deed of Covenants on three Bahamian flag drilling rigs dated December 17, 1993 in favor of Bankers Trust Company, as Trustee for the Banks (the "Mortgages").

• I further certify that sufficient proof was submitted to me that _______ is duly authorized to sign the foregoing First Preferred [Fleet] Mortgage for and on behalf of the said corporation and that the purposes for which the said instrument is granted are within the scope of the objects and activities of the said corporation.

• So long as any portion of the debt to the First Mortgagee is outstanding, the Mortgagee may not require the Collateral Vessel Owner to comply with the provisions of this Mortgage to the extent that they require different or additional performance than that required by the First Preferred Fleet Mortgage unless the Mortgagee has obtained the prior written consent of the First Mortgagee.

• The notice in Section 2.08(c) shall read as follows with respect to each Vessel: "NOTICE OF MORTGAGE" "This Vessel is owned by K-SEA OPERATING PARTNERSHIP L.P., a Delaware limited partnership (the "Shipowner"), and is covered by a First Preferred Fleet Mortgage in favor of the United States of America, under authority of Chapter ▇▇▇, ▇▇▇▇▇ ▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Code.

• This Rig is covered by a First Preferred Fleet Mortgage to Credit Lyonnais New York Branch, as Collateral Agent and Mortgagee for the benefit of the Term Secured Parties referred to in the said Mortgage under authority of the United States Ship Mortgage Act, as amended and recodified as 46 U.S.C. Section 31301 et seq.

• This Vessel is owned by Wisconsin & Michigan Steamship Company ("Owner") and (i) is covered by a First Preferred Fleet Mortgage dated as of August 1, 2006 (the "Mortgage") between the Owner and National City Commercial Capital Company, LLC, mortgagee, under authority of 46 U.S.C. ss.

• The maximum principal amount that may be outstanding under this Mortgage is ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Dollars (USD 190,000,000.00) and for the purpose of recording this Mortgage, the total amount of this First Preferred Fleet Mortgage is ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Dollars (USD 190,000,000.00), and interest, expenses and performance of mortgage covenants.

• This Vessel is covered by a First Preferred Fleet Mortgage to Credit Lyonnais New York Branch, as Administrative Agent and Mortgagee for the benefit of the Lenders referred to in the said Mortgage under authority of the Maritime Act of Vanuatu [CAP 131], as amended.

More Definitions of First Preferred Fleet Mortgage

First Preferred Fleet Mortgage. (this "Mortgage") dated as of June 20, 2002 is by [OWNER, a _____________________] having its principal offices at 5847 San Felipe, Suite 3300, Houston, Texas 77057 (the "Owner"), in fa▇▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ YORK BRANCH, a French banking association having offices at 1301 Avenue of the Americas, New York, New York 10019, as Collateral A▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ (▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇ "▇▇▇▇▇▇▇▇▇") for the benefit of the Finance Parties (as defined in the Revolving Credit Agreement referred to below).