Free Envoy registered under the flag of the Marshall Islands. Official number 2161, call letters V7GR6. Fulxxx xxxxils are included in the mortgage deed. On this mortgxxx xxe laws of the Marshall Islands will be applicable. As far as possible HBU's Xxxxxxx Conditions applicable to Ship Mortgages are incorporated in the mortgage deed. - Suretyship of USD 500,000, plus interest and costs, from Mr. G.D. Gourdomichalis, residing in Piraeus, Greece and/or Mr. S.D. Gourdomichalis, residing in Piraeus, Greece and/or Mr. I.G. Varouxakis, residing in Piraeus, Greece. As soon as Fxxxxxxx X.A. has got her Stock Exchange quotation, this suretyship shall be replaced by joint and several liability of Freeseas S.A. (NEW)
Free Envoy registered under the flag of the Xxxxxxxx Islands. Xxxxxx details will be included in the mortgage deed. On this mortgage the laws of the Xxxxxxxx Islands will be applicable. As far as possible HBU's General Conditions applicable to Ship Mortgages are incorporated in the mortgage deed. The mortgage deed shall be accompanied by a law firm's legal opinion in form and substance acceptable to the Bank. - Suretyship of USD 500,000, plus interest and costs, from Mr G.D. Gourdomichalis, residing in Piraeus, Greece and/or Mr S.D. Gourdomichalis, residing in Piraeus, Greece and/or Xx X.X. Xxxxxxxxxx, residing in Piraeus, Greece. [HOLLANDSCHE BANK-UNIE N.V. LOGO] - Joint and several liability of One Adventure S.A. - Pledge of rights and earnings under time charter contracts concluded or to be concluded.
Free Envoy or the m.v. “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.
Examples of Free Envoy in a sentence
During the same period ended June 30, 2011, the Company paid the Manager $42 relating to the sale of M/V Free Envoy.
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.
Adventure Three owns the Free Envoy subject to a mortgage securing credit facility in the principal amount of $6 million.
Vessel disposed during the six months ended June 30, 2011 On April 14, 2011, the Company agreed to sell the M/V Free Envoy, a 1984 built 26,318 dwt Handysize dry bulk vessel for a sale price of $4,200.
More Definitions of Free Envoy
Free Envoy. (the “Vessel”) registered in the Marshal Islands’ Ship Register under official number 2161.
(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.
Free Envoy for inspection. The contents, a contract of at least 1 year at a rate of at least USD 25.000 a day, must he acceptable to HBU. (new) — The loan to value ratio must not exceed 70% at any moment. The loan to value ratio means the total outstanding facilities of the Borrower with HBU divided by actual valuation results of the vessels mortgaged in favour of HBU.
Until 1 August 2009 the MV “Free Envoy” and MV “Free Destiny” may be taken into account, after this date however no longer. (amendment)
Free Envoy means the vessel named free envoy, registered under the flag of the Xxxxxxxx Islands with official number 2161, call letters V7GR6.
Free Envoy. (the "Vessel") and HOLLANDSCHE BANK-UNIE N.V., a company incorporated and existing under the laws of the Netherlands, having its corporate seat at Amsterdam, the Netherlands, acting herein through its branch office at Xxxxxxxxxx 000, 0000 XX Xxxxxxxxx, xxx Xxxxxxxxxxx (the "Assignee"), we have assigned to the Assignee all our rights, title, interest and benefits in and to all insurances effected or to be effected in respect of the Vessel, including the insurances constituted by the policy or entry certificate whereon this notice is endorsed. DATED this [...] day of September 2004. For and on behalf of ADVENTURE THREE S.A. _____________________ by:__________________ and by:__________________ as: attorneys-in-fact schedule C: FORM OF LETTER OF UNDERTAKING TO BE DELIVERED BY BROKERS AND/OR UNDERWRITERS AND/OR INSURERS To: Hollandsche Bank-Unie N.V. Xxxxxxxxxx 000 0000 XX XXXXXXXXX the Netherlands Dated [...] Dear Sirs,
Free Envoy. (the "Vessel") We confirm that we have effected insurances for the account of ADVENTURE THREE S.A. of Ajeltake Island, Majuro, Xxxxxxxx Islands (the "Owner") as set out in Appendix "A" attached. Pursuant to instructions received from the Owner, and in consideration of your approving our appointment as [Brokers/Underwriters/Insurers] in connection with the insurances covered by this letter, we hereby undertake:
Free Envoy. (the "Vessel") We note you have taken an assignment of the insurances on the Vessel. So far as this Association is concerned, the Managers do not consent to such assignment for the purposes of Rule____, other than to give efficacy to the Loss Payable Clause set out below and subject always to the Association's rights under Rule_____. We do confirm however that the Vessel is entered in this Association for Protection and Indemnity risk on the terms and conditions set out or to be set out in the Certificate of Entry. Furthermore, in consideration of your agreeing to the entry or continuing entry of the ship in this Association, the Managers agree that:
(a) the Owner 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 Owner 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 Owner 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 Owner or to its order unless and until the Association receives notice from you that the Owner is in default under the mortgage, in which event all recoveries shall thereafter be paid to you for distribution by you to yourselves and/or to your 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 Owner 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 Owner 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. Yours faithfully, schedule E : FORM OF NOTICE OF TIME CHARTER PARTY ASSIGNMENT Date: ______________________________ To: Express Sea Transport Corporation x/x 0 Xxxxxxxxxx Xxxx...
Free Envoy. We refer to the time charterparty (the "Charterparty") dated the 14th day of April 2004, made between us, ADVENTURE THREE S.A., and you, whereby we agreed to let and you agreed to take on time charter for the period and upon the terms and conditions therein mentioned the motor vessel "FREE ENVOY" registered in our name under the Xxxxxxxx Islands flag having Official Number 2161.