Group Vessel definition

Group Vessel means a vessel which is either:
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Group Vessel means any ship (including, but not limited to, the Ship) from time to time wholly owned by a member of the Group (directly or indirectly) including chartered-in vessels for which a member of the Group has a purchase obligation but excluding, for the avoidance of doubt, any newbuilding vessels not delivered to the relevant member of the Group at the relevant time.
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Group Vessel means any vessel owned by, leased by under a financial lease or constructed for (in the case of a newbuilding under construction) the account of any member of the Group.
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Examples of Group Vessel in a sentence

  • Valuations issued in respect of a Group Vessel which is encumbered with a mortgage, shall be addressed to the mortgagee or relevant lender of that Group Vessel, and in respect of a Group Vessel which is not encumbered with a mortgage, shall be addressed to the relevant owner or managers of that Group Vessel.

  • Motorhomes and Caravans must correspond to following criteria in order to be accepted for loading on board a Grimaldi Group Vessel.

  • All valuations pursuant to this Clause 17.11 (Market Value Determination) shall be made for the purposes of Clause 17.10 (Additional security) on the basis of a sale of a Vessel or a Group Vessel (as applicable) for prompt delivery for cash at arm’s length on normal commercial terms by a willing seller to a willing buyer free of the value of any existing charter or of any other contract of employment.

  • If there is a difference between the two valuations obtained either pursuant to sub-paragraph (a) or (b) in excess of ten per cent of the lowest valuation, then the Agent shall select a third firm of Approved Shipbrokers and the Market Value of a Vessel or a Group Vessel shall be determined by the average of the three valuations.

  • If there is a difference between the two valuations in excess of ten per cent, then the Agent shall select a third firm of Approved Shipbrokers and the market value of a Vessel or a Group Vessel shall be determined by the average of the three valuations.

  • For the purpose of the Security Documents, the aggregate Market Value of the Vessels or, as the context may require, a Group Vessel, shall be the average value certified by two Approved Shipbrokers.

  • For the purpose of the Security Documents, the Borrower irrevocably and unconditionally agrees to accept any and all valuations determining the market value of a Vessel or any other Group Vessel obtained pursuant to this Clause 17.11 (Market Value Determination) and such determination shall be conclusive evidence of a Vessel’s or any other Group Vessel’s (as the case may be) market value at the date of such valuation.

  • Vessel Name* Ownership interest - not fully owned by Group** Vessel fully owned by Group - see "8.

  • All valuations pursuant to this Clause 17.11 (Market Value determination) shall be made for the purposes of Clause 17.10 (Additional Security) on the basis of a sale of a Vessel or a Group Vessel (as applicable) for prompt delivery for cash at arm’s length on normal commercial terms by a willing seller to a willing buyer free of the value of any existing charter or of any other contract of employment.

  • For the purpose of the Security Documents, the aggregate market value of the Vessels or, as the context may require, a Group Vessel, shall be the value certified by one Approved Shipbroker, or, if the Agent requires, the average value certified by two Approved Shipbrokers.


More Definitions of Group Vessel

Group Vessel has the meaning given to it in Clause 22.1 (Definitions).
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Group Vessel and “Group Vessels” in Schedule 3 to the Danaos Guarantee shall be amended by deleting the words “collectively the Vessels and any other vessels including vessels under construction or owned or, in the case of a vessel under construction, ordered by” and inserting the words “the vessels owned by and registered (or to be owned by and registered) in the name of”;
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Related to Group Vessel

  • 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.

  • 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:

  • 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”);

  • 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;

  • Passenger vessel means any boat, ship, vessel,

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

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

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

  • Covered vessel means a tank vessel, cargo vessel, or passenger 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 fishing vessel means any fishing vessel other than a local fishing vessel;

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

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

  • Mortgaged Ship means a Ship which is subject to a Mortgage at the relevant time and, in the plural, means all of them;

  • Recreational vessel means a vessel—

  • The Vessel means the vessel named in Box 5 and with particulars as stated in Boxes 6 to 12.

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

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

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

  • existing vessel means a vessel that is not a new fishing vessel.

  • 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.

  • Ship means a vessel of any type whatsoever operating in the marine environment and includes hydrofoil boats, air-cushion vehicles, submersibles, floating craft and fixed or floating platforms.

  • Relevant Ship means the Ships and any other vessel from time to time (whether before or after the date of this Agreement) owned, managed or crewed by, or chartered to, any Relevant Party;

  • 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.