ISM Company definition
ISM Company means, at any given time, the company responsible for a Vessel's compliance with the ISM Code under paragraph 1.1.2 of the ISM Code.
ISM Company means, at any given time, the company responsible for the Vessel’s compliance with the ISM Code under paragraph 1.1.2 of the ISM Code.
ISM Company means the owner of the ship or any other organisation or person such as the manager, or the bareboat charterer, who has assumed the responsibility for operation of the ship from the ship owner and who, on assuming such responsibility, has agreed to take over all duties and responsibility imposed by the ISM Code;
Examples of ISM Company in a sentence
The bareboat charterer of the Vessel identified in paragraph (2) below (the “Bareboat Charterer”) declares that the organisation identified in paragraph (3) below (being the Vessel’s technical manager and ISM Company) (the “Organisation) is duly authorised by the Bareboat Charterer, as authorised by NML OASEA LLC, being the Registered Shipowner of the Vessel (the “Registered Shipowner”), to take all steps necessary to ensure compliance of the Vessel with the MRV and EU ETS Obligations.
When the Crew/Employee(s) are working on-board the Vessel, they shall be bound by the rules and guidelines laid down by HCOL and the ISM Company.
More Definitions of ISM Company
ISM Company means the legal entity managing the Vessel in compliance with the International Safety Management (ISM) and International Ship and Port Facility (ISPS) Codes.
ISM Company means, at any given time, the company responsible for a Vessel's compliance with the ISM Code under paragraph
ISM Company means: (a) where a person who is not the owner of the ship has assumed responsibility for the operation of the ship and has agreed with the owner to take over all the duties and responsibilities imposed by the ISM Code, that person; or (b) in all other cases, the owner of the ship.
ISM Company means, at any given time, the company responsible for a Collateral Vessel's compliance with the ISM Code under paragraph 1.1.2 of the ISM Code. "ISPS Code" means the International Ship and Port Facility Security Code. "ISPS Company" means, at any given time, the company responsible for a Collateral Vessel's compliance with the ISPS Code. "ISSC" means a valid international ship security certificate for a Collateral Vessel issued under the ISPS Code. "law" or "Law" means any law, statute, treaty, convention, regulation, instrument or other subordinate legislation or other legislative or quasi-legislative rule or measure, or any order or decree of any government, judicial or public or other body or authority, or any directive, code of practice, circular, guidance note or other direction issued by any competent authority or agency (whether or not having the force of law). "Loan" means the aggregate amount of the reducing revolving credit facility advanced or to be advanced by the Lenders to the Borrower under Clause 2 (being the aggregate of the Drawings) or, where the context permits, the amount advanced and for the time being out-standing. "Loan Outstanding" means the total of all Drawings made at that time, to the extent not reduced by repayments, prepayments, cancellations and voluntary reductions. "Majority Lenders" means a Lender or Lenders whose Commitments aggregate equal to or greater than 662/3% of the Total Commitments (or, if the Total Commitments have been reduced to zero, aggregated more than 662/3% of the Total Commitments immediately prior to the reduction). "Management Agreements" means the agreement(s) for the commercial and/or technical management of the Collateral Vessels entered into between (i) the Collateral Owners and (ii) the Approved Managers (unless the Approved Manager is the Borrower, Teekay, Teekay Marine (Singapore) Pte. Ltd. or any other member of the Borrower Group or the Teekay Group). "Managers' Confirmations" means the written confirmations of the Approved Managers (unless the Approved Managers are the Borrower, Teekay, Teekay Marine (Singapore) Pte. Ltd. or any other member of the Borrower Group or the Teekay Group) that throughout the Facility Period unless otherwise agreed by the Agent: (a) they will not, without the prior written consent of the Agent, subcontract or delegate the commercial or technical management of the Collateral Vessels (as the case may be) to any third party; and (b) following the occurrence of an Eve...