Free Destiny definition

Free Destiny. (the “Vessel”) registered in the Marshal Islands’ Ship Register under official number 2077. (B) Pursuant to an amended and restated facilities agreement dated on or about the date hereof (the “Restated Facilities Agreement”) between, amongst others, the Lender and the Borrower, the Lender has agreed to continue to make certain facilities available to the Borrower.
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Free Destiny the Borrower shall make an additional repayment of USD 2,000,000 without prejudice to the provisions contained in section b. (i) and (ii) of this Article. In this event no compensation as referred to in section b.(iv) of this Article shall be payable by the Borrower. d. Upon giving notice of an intended early repayment referred to in section b.(i) and/or in section c of this Article, the Borrower shall be obliged to make such early repayment. Early repayments shall be applied in reduction of the contractual repayments referred to in section a. of this Article in reverse order of their due dates.
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Free Destiny any outstanding balance under Borrower’s — the corresponding overdraft facility I or II will be fully repaid, — the balance will be repaid on the overdraft facility IV. and — any remaining balance will be repaid on the rollover loan. (amendment) — The vessels will be safely operated and maintained and will in any case always be in class (acceptable IACS members) during the loan period. — Borrower will give HBU a time charter agreement with respect to the new vessel for inspection. The contents, a contract of at least 1 year at a rate of at least USD 30,000 a day. must be acceptable to HBU. (new) — Borrower will give HBU the time charter agreements for inspection. The contents thereof must be acceptable to HBU.
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Examples of Free Destiny in a sentence

  • Adventure Holdings S.A. Adventure Two S.A. Adventure Three S.A. Free Envoy Free Destiny None.

  • All facilities bear interest at the rate of 1.3% over LIBOR and are secured by mortgages on the M/V Free Destiny, M/V Free Envoy and M/V Free Knight.

  • The dry docking and special survey costs of $135 and $630, respectively, relate to the special survey and dry-docking of the M/V Free Destiny which was completed in October 2007 and its amortization commenced as of the date of completion.

  • Vessel disposed during the year ended December 31, 2010 On July 30, 2010, the Company agreed to sell the M/V Free Destiny, a 1982 built 25,240 dwt Handysize dry bulk vessel for a consideration of $3,213.

  • Manager All vessels listed in Note 1 (except M/V Free Fighter and M/V Free Destiny which were sold in April 2007 and August 2010, respectively) receive management services from the Manager, pursuant to ship management agreements between each of the ship-owning companies and the Manager.

  • Network connectedness in vertical and horizontal manufacturing joint venture formations: A power perspective.

  • Pursuant to the Agreement, Free Bulkers is responsible for all of the day-to-day management of Adventure Two, and the Free Destiny.

  • The $27,000 was drawn on March 18, 2008 to finance a portion of the purchase price of the M/V Free Knight.As of March 31, 2009, the outstanding loan balances under the amended HBU facility amounts to $20,000 for the M/V Free Knight, $29,600 for the M/V Free Maverick and $nil for the M/V Free Destiny.

  • In this respect, the Company paid Free Bulkers $32 relating to the sale of M/V Free Destiny (Note 5) and $488 relating to the signing of shipbuilding contracts for the construction of two handysize vessels (Note 6) in 2010 and $110 relating to the acquisition of M/V Free Neptune in 2009.

  • Adventure Two S.A. Adventure Three S.A. Adventure Four S.A. Adventure Five S.A. Adventure Six S.A. Adventure Seven S.A. Adventure Eight S.A. The two drybulk carriers that were owned at June 30, 2007, the M/V Free Destiny and the M/V Free Envoy, owned respectively by Adventure Two S.A. and Adventure Three S.A. were purchased by these vessel-owning subsidiaries on August 3, 2004 and September 20, 2004, respectively, from unrelated third parties.


More Definitions of Free Destiny

Free Destiny means the vessel named free destiny, registered under the flag of the Xxxxxxxx Islands with IMO number 0000000, call letters V7GD9.
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Free Destiny flying under the Flag and Laws of The Republic of Xxxxxxxx Islands together with the engines, boats, masts, tackle and other appurtenances to her belonging. And the Underwriters are obliged to:
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Free Destiny. (the “Vessel”)
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Free Destiny. (the “Vessel”) (a) the Assignor shall not cease to be insured by the Association in respect of the Vessel by reason of such assignment (see Rule ); and (b) notwithstanding that the Vessel has been mortgaged to you and that no undertaking or guarantee has been given to the Association to pay all contributions due in respect of the Vessel, the Assignor does not cease to be insured by reason of the operation of Rule . It is further agreed that the following Loss Payable Clause will be included in the Certificate of Entry: “Payment of any recovery the Assignor is entitled to make out of the funds of the Association in respect of any liability, costs or expenses incurred by it shall be made to the Assignor or to its order unless and until the Association receives notice from the Bank that the Assignor is in default under the mortgage, in which event all recoveries shall thereafter be paid to you for distribution by the Bank to itself and/or to its order provided always that no liability whatsoever shall attach to the Association its Managers or their agents for failure to comply with the latter obligation until after the expiry of two clear business days from the receipt of such notice”. The Association undertakes: (a) to inform you if the Association gives the Assignor notice under Rule that its insurances in the Association in respect of such ship is to cease at the end of the then current policy year; (b) to give 14 days’ notice of the Association’s intention to cancel the insurance of the Assignor by reason of his failure to pay when due and demanded any sum due from him to the Association; and (c) to advise you promptly if the Vessel ceases to be entered in the Association.
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Free Destiny means the vessel named free destiny, registered, or to be registered, under the flag of Liberia with IMO number 8128157.
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Related to Free Destiny

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