Maritime Laws has the meaning set forth in the Company’s Charter.
Maritime Laws means the Foreign Dredge Act of 1906, 46 U.S.C. section 55109, as amended; the Merchant Marine Act of 1920, 46 U.S.C. section 55101, et seq., as amended; the Shipping Act of 1916, 46 U.S.C. section 50501, as amended; and any other U.S. maritime, shipping, and vessel statutes, common laws, regulations and binding publications requiring or relating to the ownership or control of the Corporation for purposes of qualifying to own and operate vessels in coastwise trade as a U.S. Citizen, as the same may be amended or modified from time to time.
Maritime Laws has the meaning assigned to such term in Section 4.10(a).
Examples of Maritime Laws in a sentence
Any amendments to the Maritime Laws or the regulations relating to the citizenship of U.S. vessel owners or operators of coastwise trade vessels are deemed to be incorporated herein by reference.
The purpose of this Article FIVE is to limit the ownership and control of the Corporation by Non-U.S. Citizens to ensure that the Corporation remains qualified to own and operate vessels engaged in coastwise trade as a U.S. Citizen under the Maritime Laws.
No individual shall be appointed to an officer position if the consequence of such appointment is to cause the corporation to cease to qualify as a U.S. Citizen (as defined in the certificate of incorporation) and, therefore, cease to be qualified under the Maritime Laws (as defined in the certificate of incorporation) to own and operate vessels that may engage in dredging in the navigable waters of the United States and to transport dredged material between points in the United States.
To the extent that the Services are performed offshore, these Terms shall be governed by the General Maritime Laws of the United States.
If the Work is performed offshore or on inland waters, notwithstanding the place of execution hereof or the place for performance of any covenant, promise or agreement herein made, this Agreement and the validity hereof, the agreements evidenced hereby, and all matters and issues arising hereunder, shall be construed pursuant to and governed by the General Maritime Laws of the United States.
More Definitions of Maritime Laws
Maritime Laws means collectively the Merchant Marine Act, 1920, as amended, the Shipping Act, 1916, as amended, 46 U.S.C. app. §292 and any other statute regulating or authorizing dredging in the navigable waters of the United States and any successor statutes thereto, and the regulations promulgated thereunder, in each case as amended or supplemented from time to time. The “Market Price” of a share of a class or series of capital stock of the Corporation for a particular day shall mean: (A) the last reported sales price, regular way, on such day, or, in case no sale takes place on such day, the average of the reported closing bid and asked prices, regular way, on such day, in either case as reported in the principal consolidated transaction reporting system with respect to securities listed or admitted for unlisted trading privileges on the principal National Securities Exchange on which such class or series of capital stock is then listed or admitted for unlisted trading privileges; or (B) if such class or series of capital stock is not then listed or admitted for unlisted trading privileges on any National Securities Exchange, the last quoted price on such day, or, if not so quoted, the average of the closing bid and asked prices on such day in the over-the-counter market, as reported by The Nasdaq Stock Market or such other system then in use; or (C) if on any such day such class or series of capital stock is not quoted by any such organization, the average of the bid and asked prices on such day as furnished by a professional market maker making a market in such capital stock selected by the Corporation; or (D) if on any such day no market maker is making a market in such capital stock, the fair value of a share of such class or series of capital stock on such day as determined in good faith by the Board (or a duly authorized committee thereof).
Maritime Laws means, collectively and without duplication, Chapters 121 and 505 of Title 46 of the United States Code and any successor or replacement statute thereto, and the regulations promulgated under such Title or successor or replacement statute or, to the extent remaining in force, under any predecessor statute, in each case as amended or supplemented from time to time. The Company represents and warrants that, assuming the accuracy of any factual information regarding Dealer that is provided by Dealer to the Company upon the Company’s request, any Shares delivered by the Company to Dealer pursuant to the Transaction shall not be Excess Shares, and the issuance and delivery of such Shares shall have been approved by the board of directors of the Company. If Dealer designates any person to receive any Shares pursuant to Section 9(t), clauses (iii), (iv) and (v) of this Section 9(k) shall apply as if such person were Dealer. If the Company is unable to deliver any Shares to Dealer as a result of this Section 9(k), notwithstanding Company’s continuing obligation to deliver such Shares as described herein, the Company may at any time following the Settlement Date, upon one Exchange Business Day’s prior written notice to Dealer, elect to deliver cash in lieu of any or all such Shares, in which case the Shares for which cash delivery has been so elected shall be valued by the Calculation Agent in a commercially reasonable manner over such time period as the Calculation Agent reasonably determines appropriate in light of the liquidity of the Shares at such time and applicable law and related regulations, policies and procedures. The Company’s right to elect cash pursuant to the foregoing sentence shall be subject to the Company giving representations, warranties and covenants customary for transactions under Rule 10b5-1 under the Exchange Act and satisfactory to Dealer. The Company shall promptly notify Dealer if at any time either (i) any purported transfer of any shares of any class or series of capital stock of the Company is void and ineffective pursuant to Section 2 of Article Twelve of the Certificate or (ii) any shares of any class or series of capital stock of the Company are “Excess Shares” pursuant to Section 3 of Article Twelve of the Certificate. The Company covenants that it shall provide prompt written notice to Dealer upon having actual knowledge that more than 10% of the aggregate Shares outstanding are owned by persons other than citizens of the United...
Maritime Laws means the Shipping Act, 1916, Merchant Marine Act, 1920, and the Merchant Marine Act, 1936, all as amended, and the regulations promulgated thxxxxxxxx, xxxxxxtively.
Maritime Laws means, collectively and without duplication, Chapters 121 and 505 of Title 46 of the United States Code and any successor statute thereto, and the regulations promulgated under such Title or successor statute or, to the extent remaining in force, under any predecessor statute, in each case as amended or supplemented from time to time, or any “Maritime Laws” as defined in the Certificate. Counterparty shall promptly notify Dealer if at any time either (i) any purported transfer of any shares of any class or series of capital stock of Counterparty is void and ineffective pursuant to paragraph 4(a) of Article V of the Certificate or (ii) any shares of any class or series of capital stock of Counterparty are “Excess Shares” pursuant to paragraph 5 of Article V of the Certificate. Counterparty shall provide Dealer with a copy of any filings submitted to any regulatory authority relating to Counterparty’s or Counterparty’s stockholders’ citizenship under the Maritime Laws so long as Dealer (or any assignee of Dealer) has agreed to keep any such filings and the information contained therein confidential on terms reasonably acceptable to Counterparty and Dealer. Counterparty acknowledges that it will not treat Dealer (or any affiliate of Dealer) as the owner, for purposes of the Maritime Laws or Article V of the Certificate, of any Shares by virtue of any swap transactions relating to Shares that Dealer (or any affiliate of Dealer) may enter into in connection with its hedging activities in respect of the Transaction or otherwise in the course of its business, so long as such swap transactions may only be cash settled and do not require any party to such swap transactions to own or hold any Shares according to their terms and do not provide Dealer (or any such affiliate) with any contractual rights to acquire Shares or exercise voting rights with respect to any Shares.
Maritime Laws means, collectively and without duplication, Chapters 121 and 505 of Title 46 of the United States Code and any successor statute thereto, and the regulations promulgated under such Title or successor statute or, to the extent remaining in force, under any predecessor statute, in each case as amended or supplemented from time to time, or any “Maritime Laws” as defined in the Certificate. Issuer represents and warrants that, assuming the accuracy of any factual information regarding Dealer that is provided by Dealer to Issuer upon Issuer’s request, any Shares delivered by Issuer to Dealer pursuant to the Transaction shall not be Excess Shares, and the issuance and delivery of such Shares shall have been approved by the board of directors of Issuer. If Dealer designates any person to receive any Shares pursuant to Section 8(p), clauses (iii) and (iv) of this Section 8(d) shall apply as if such person were Dealer. If Issuer is unable to deliver any Shares to Dealer as a result of this Section 8(d), Issuer shall use commercially reasonable efforts to enable itself to so deliver such Shares as promptly as practicable; provided that Issuer may at any time following the Settlement Date for the Component with the latest Settlement Date, upon one Exchange Business Day’s prior written notice to Dealer, elect to deliver cash in lieu of any or all such Shares, in which case the Shares for which cash delivery has been so elected shall be valued by the Calculation Agent using a valuation period reasonably designed to allow Dealer to unwind its hedging position in connection with the Transaction in compliance with applicable law, including Rule 10b-18. Issuer’s right to elect cash pursuant to the foregoing sentence shall be subject to Issuer giving representations, warranties and covenants customary for transactions under Rule 10b5-1 under the Exchange Act and satisfactory to Dealer. Issuer shall promptly notify Dealer if at any time either (i) any purported transfer of any shares of any class or series of capital stock of Issuer is void and ineffective pursuant to paragraph 4(a) of Article V of the Certificate or (ii) any shares of any class or series of capital stock of Issuer are “Excess Shares” pursuant to paragraph 5 of Article V of the Certificate. Issuer shall provide Dealer with a copy of any filings submitted to any regulatory authority relating to Issuer’s or Issuer’s stockholders’ citizenship under the Maritime Laws so long as Dealer (or any assignee of Dealer...
Maritime Laws has the meaning assigned to such term in Section 4.4.
Maritime Laws means collectively the Merchant Marine Act, 1920, as amended, the Shipping Act, 1916, as amended, any successor statutes thereto, and the regulations promulgated thereunder, in each case as amended or supplemented from time to time.