INSW Business definition

INSW Business means at any time prior to the effective time of the Distribution on the Distribution Date (the “Effective Time”), the ownership and operation of a fleet of oceangoing vessels engaged primarily in (a) the transportation of crude oil and petroleum products in the International Flag trades as operated through two segments: (i) international crude tankers and (ii) international product carriers vessel operations, (b) International Flag lightering in the Caribbean, Panama, the Gulf of Mexico and the West Coast of the United States and (c) the LNG joint venture and the FSO joint venture, in each case as owned and operated by any of INSW, OSG and any member of the INSW Group or OSG Group, as applicable. “OSG Business” means, at any time prior to the Effective Time, the operation of that certain U.S. Flag fleet of oceangoing vessels engaged primarily in the transportation of crude oil and petroleum products and operating either under the Jones Act or internationally in the U.S. Maritime Security Program, as operated by any member of the OSG Group. “INSW Group” means INSW, OSG Ship Management Manila, Inc. and each person that is or becomes a subsidiary of INSW at or after the Effective Time. “OSG Group” means OSG, Alaska Tanker Company L.L.C. and each person that is or becomes a subsidiary of OSG (other than INSW and any other member of the INSW Group) at or after the Effective Time.
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INSW Business shall have the meaning set forth in the Separation and Distribution Agreement.
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INSW Business means, at any time prior to the Effective Time, the ownership and operation of a fleet of oceangoing vessels engaged primarily in (a) the transportation of crude oil and petroleum products in the International Flag trades as operated through two segments: (i) international crude tankers and (ii) international product carriers vessel operations and (b) International Flag lightering in the Caribbean, Panama, the Gulf of Mexico and the West Coast of the U.S. and (c) the INSW JVs, in each case as owned and operated by either Party or any member of its Group.
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Examples of INSW Business in a sentence

  • Relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission of a material fact relates to information supplied by the INSW Business or a member of the INSW Group, on the one hand, or the OSG Business or a member of the OSG Group, on the other hand.

  • At the Effective Time, the members of the INSW Group shall have in effect all insurance programs required to comply with the INSW Group’s contractual obligations and such other insurance policies required by Law or as reasonably necessary or appropriate for companies operating a business similar to the INSW Business.

Related to INSW Business

  • Micro Business means a company which either:

  • home business means a business, service or profession carried out in a dwelling or on land around a dwelling by an occupier of the dwelling which —

  • Business has the meaning set forth in the Recitals.

  • New Business as used herein, shall mean any matter not known about or which could not have been reasonably foreseen prior to the time of posting. (25 O.S. 311a(9))

  • food business means any undertaking, whether for profit or not and whether public or private, carrying out any of the activities related to any stage of production, processing and distribution of food;

  • Company Business means the business of the Company as presently conducted.

  • Cannabis business means any business activity involving cannabis, including but not limited to cultivating, transporting, distributing, manufacturing, compounding, converting, processing, preparing, storing, packaging, delivering, testing, dispensing, retailing and wholesaling of cannabis, of cannabis products or of ancillary products and accessories, whether or not carried on for gain or profit.

  • the Business means the usual work and activities carried on by the Insured pertaining to his business as specified in the Schedule and no others.

  • Branch business means any insurance business transacted by a branch captive insurance company in this State.

  • Parent Business has the meaning set forth in the Separation and Distribution Agreement.

  • Subject Business means the policy or policies that are the subject of the Insurance Business Transfer Plan.

  • Former Business means any corporation, partnership, entity, division, business unit, business or set of business operations that has been sold, conveyed, assigned, transferred or otherwise disposed of or divested (other than solely in connection with the Restructuring), in whole or in part, or the operations, activities or production of which has been discontinued, abandoned, liquidated, completed or otherwise terminated, in whole or in part, in each case, by either Group prior to the Distribution Time.

  • Auto business means the business or occupation of selling, repairing, servicing, storing or parking "autos".

  • Supply Business means the licensed business of the Licensee and anyaffiliate or related undertaking of the Licensee as a Supplier but shall not include the business carried out by the Board in its capacity as public electricity supplier;

  • Business activity means that term as defined in section 3(2) of the former single business tax act, 1975 PA 228, or in section 105 of the Michigan business tax act, 2007 PA 36, MCL 208.1105.

  • Licensed Business means the activities connected with the conveyance of

  • Authorized business means 1 of the following:

  • Other Business(es means any business activity we or our Affiliates engage in, other than the licensing of the Hotel.

  • Separate Business means each of the activities of the Licensee connected

  • Business Activities shall be deemed to include any activities which are included in the Company's Business now or during the effective period of this Agreement.

  • Core Business means any material line of business conducted by the Company and its Subsidiaries as of the Closing Date and any business directly related thereto.

  • Relevant Business means any business or part thereof howsoever carried on involving the supply of Restricted Goods and/or Services;

  • Associated Business means a business that owns at least 50% of and controls, directly or indirectly, an authorized business.

  • Minority Business means a business: