Fleet Mortgages definition
Fleet Mortgages means, collectively, (i) the Preferred Fleet Mortgage, dated as of the Closing Date, as further amended, restated, modified or supplemented from time to time, given by Grand River in favor of Agent on Grand River's U.S. Flag Vessels named the Invincible, the Manistee, the Calumet, the Manitowoc, the Defiance and the Ashtabula, respectively, and (ii) the Preferred Fleet Mortgage, dated as of the Closing Date, as amended, restated, modified or supplemented from time to time, given by Black Creek in favor of Agent on Black Creek’s U.S. Flag Vessels named the J▇▇▇▇ ▇. ▇▇▇▇▇, the L▇▇▇▇ ▇. ▇▇▇▇▇, the Victory and the M▇▇▇▇, respectively.
Fleet Mortgages means the first preferred fleet mortgages attached hereto as Exhibit E-2 or delivered pursuant to Section 5.10, as supplemented from time to time pursuant to the terms thereof.
Fleet Mortgages means, collectively, (i) the First Preferred Fleet Mortgage, dated as of the Closing Date, as amended, restated, modified or supplemented from time to time, given by Grand River in favor of Agent, for the benefit of itself and the other Secured Parties, on Grand River’s U.S. Flag Vessels named the Invincible, the Manistee, the Calumet, the Manitowoc, the Defiance and the Ashtabula, respectively, and (ii) the First Preferred Fleet Mortgage, dated as of the Closing Date, as amended, restated, modified or supplemented from time to time, given by Black Creek in favor of Agent, for the benefit of itself and the other Secured Parties, on Black Creek’s U.S. Flag Vessels named the J▇▇▇▇ ▇. ▇▇▇▇▇, the L▇▇▇▇ ▇. ▇▇▇▇▇, the Victory and the M▇▇▇▇, respectively.
Examples of Fleet Mortgages in a sentence
Collectively, the several First Preferred Vessel or Fleet Mortgages, whether dated on or after the Closing Date, entered into or to be entered into between the Borrower and/or the Guarantors and the Documentation Agent.
Promptly after the Closing Date, Agent shall have received a Coast Guard form CG-1330, Certificate of Ownership, covering the Vessels subject to the Vessel Fleet Mortgages, evidencing recordation of the Vessel Fleet Mortgage in favor of Agent and copies of each Vessel Fleet Mortgage certified by the U.S. Coast Guard National Vessel Documentation Center.
Borrowers shall take any actions reasonably required by Agent to ensure and demonstrate that the Liens granted by the Loan Documents continue to be perfected under the Code or otherwise after giving effect to the establishment of any such new Revolver Commitments and Maximum Revolver Amount (including, without limitation, any necessary supplements to the Mortgages and the Fleet Mortgages).
Such declaration shall be final, conclusive and binding upon all parties to the Credit Agreement, the Guaranty and Collateral Agreement and the Fleet Mortgages for all purposes.
Each member of the Lender Group authorizes and directs (a) Agent to enter into this Agreement and the other Loan Documents and (b) Security Trustee to enter into the Fleet Mortgages.
More Definitions of Fleet Mortgages
Fleet Mortgages means, collectively, the Fleet Mortgage (Additional Collateral) and the Fleet Mortgage (Sea Coast).
Fleet Mortgages means the First Preferred Fleet Mortgages made by the Borrower in favor of the Agent securing the Credit Obligations.
Fleet Mortgages means the First Preferred Fleet Mortgages of even date herewith executed by the Guarantors in favor of the Collateral Agent covering the respective United States flagged Mortgaged Rigs of each Guarantor, the First Naval Fleet Mortgage of even date herewith executed by Management Co. in favor of the Collateral Agent covering the Panamanian flagged Mortgaged Rigs and the First Preferred Fleet Mortgage of even date herewith executed by Management Co. in favor of the Collateral Agent covering the Vanuatuan flagged Mortgaged Rigs, as same may be amended, supplemented, restated or otherwise modified from time to time.
Fleet Mortgages means, collectively, (i) the Fourth Amended and Restated First Preferred Fleet Mortgage, dated as of the Restatement Closing Date, as further amended, restated, modified or supplemented from time to time, given by Grand River in favor of GE Capital on Grand River's U.S. Flag Vessels named the Invincible, the Manistee, the Calumet, the Manitowoc, the Defiance and the Ashtabula, respectively, and (ii) the Amended and Restated First Preferred Fleet Mortgage, dated as of the Restatement Closing Date, as further amended, restated, modified or supplemented from time to time, given by Black Creek in favor of GE Capital on Black Creek’s U.S. Flag Vessels named the ▇▇▇▇▇ ▇. ▇▇▇▇▇, the ▇▇▇▇▇ ▇. ▇▇▇▇▇, the Victory and the ▇▇▇▇▇, respectively.
Fleet Mortgages means (a) the Amended and Restated First Preferred Fleet Mortgages and Amended and Restated First Naval Mortgages of even date herewith executed by the Guarantors in favor of the Collateral Agent for the benefit of the Bank Group covering the rigs described on Exhibit 1.01 and (b) any other First Preferred Fleet Mortgage (or other ship mortgage, fleet mortgage, naval mortgage or other agreement, document or instrument evidencing a grant of liens in a rig or vessel) executed after the date of this Agreement by the Borrower or any of its Subsidiaries which pledges a rig or vessel owned by the Borrower or any of its Subsidiaries to the Collateral Agent for the benefit of the Bank Group as collateral for the Obligations owing to the Bank Group, in each case as the same may be amended, supplemented, restated or otherwise modified from time to time.
Fleet Mortgages means the Fleet Mortgages, dated as of the closing date, among each of American Commercial Lines LLC and ACL Transportation LLC, respectively, and The Bank of New York Mellon Trust Company, N.A. as collateral agent and security trustee, as amended, amended and restated or otherwise modified from time to time, and any other fleet mortgage executed by the Company or a Guarantor in favor of an agent under the Credit Agreement and The Bank of New York Mellon Trust Company, N.A., as security trustee, or any successor thereto, for the benefit of Holders of the Notes.
Fleet Mortgages means, collectively, (i) the Third Amended and Restated First Preferred Fleet Mortgage, dated as of the Restatement Closing Date, as further amended, restated, modified or supplemented from time to time, given by Grand River in favor of GE Capital on Grand River's U.S. Flag Vessels named the Invincible, the Manistee, the Calumet, the Manitowoc, the Defiance and the Ashtabula, respectively, and (ii) the First Preferred Fleet Mortgage, dated as of the Restatement Closing Date, as amended, restated, modified or supplemented from time to time, given by Black Creek in favor of GE Capital on Black Creek’s U.S. Flag Vessels named the J▇▇▇▇ ▇. ▇▇▇▇▇, the L▇▇▇▇ ▇. ▇▇▇▇▇, the Victory and the M▇▇▇▇, respectively.