Material Vessel definition

Material Vessel means any construction barge, lifeboat, dive support vessel, offshore support vessel, jet sled, remotely operated vehicle, pushboat, cargo barges, utility boats, operational saturation diving systems or other vessel with an appraised value of $5,000,000.00 or more.
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Material Vessel means (i) any Vessel now owned or hereafter acquired by any Debtor and having a fair market value (on a per-Vessel basis) of (x) at least $100,000 as at the Closing Date for Vessels now owned or (y) at least $100,000 as of the date of acquisition for Vessels acquired after the Closing Date, in each case as determined by the Debtors in good faith and (ii) any other Vessel that is subject to a Lien securing obligations under any Prepetition Credit Agreement.
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Material Vessel means (i) the vessels Xxxxx Island, Galveston Island, Acadia, Ohio and Xxxxxx Island, and (ii) after the Closing Date, shall include each such vessel and any additional vessel (x) with a fair market value greater than $30,000,000 or (y) which is not subject to an Acceptable Appraisal (as defined in the ABL Credit Agreement as in effect on the date hereof) other than any vessel that has been acquired for, or has a construction cost of, $5,000,000 or less.
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Examples of Material Vessel in a sentence

  • The following information is gathered (Appendix 5): Vessel Identification: Vessel Name (Latin), Vessel Name (Actual; e.g. Chinese Name), Alias Name (all names under which a given vessel has been recorded, including miss-spelled names), Previous Ship Name, Country of Registration (Flag), National Registration Number, Radio Call Sign, Year Built, Ship Yard Built, Country Built, Homeport, Gear/s used, Hull Material, Vessel Picture/s.


More Definitions of Material Vessel

Material Vessel means (i) any Vessel that is documented with the NVDC, under the law and flag of the United States, with a coastwise endorsement and is entitled to engage in U.S. Coastwise Trade, and (ii) in the case of a Vessel that is not so documented with the NVDC, any Vessel that has a Fair Market Value in excess of $1,000,000 and is registered under the laws of a state in the United States whose vessel mortgage laws satisfy the requirements of 46 U.S.C. § 31322(d). For purposes of the Credit Documents, the value of a Vessel shall be deemed to equal the Fair Market Value of such Vessel as reasonably determined by the Borrower Representative in good faith (it being agreed, however, that such value shall not be less than the book value of such Vessel as reflected in the most recently delivered financial statements of Parent and its Restricted Subsidiaries).
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Material Vessel means mv "SEAWAY FALCON".
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Related to Material 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;

  • 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;

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

  • Material Property means all Real Property owned in fee in the United States by any Credit Party, in each case, with a fair market value of $7,425,000 (as determined by the Borrower in good faith) or more, as determined (i) with respect to any Real Property owned by any Credit Party on the Closing Date, as of the Closing Date, and (ii) with respect to any Real Property acquired by a Credit Party after the Closing Date, as of the date of such acquisition.

  • Material Loss means an uninsured:

  • Material Group Company means the Issuer or a Subsidiary representing more than 10.00 per cent. of either (i) the total assets of the Group on a consolidated basis (for the avoidance of doubt, excluding any intra-group transactions) or (ii) the EBITDA of the Group on a consolidated basis according to the latest Financial Report.

  • 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.

  • Material Real Property means any real property owned by any Loan Party with a fair market value in excess of $5,000,000.

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

  • material hoist means a hoist used to lower or raise material and equipment, excluding passengers; "medical certificate of fitness" means a certificate contemplated in regulation 7(8);

  • Material Company means, at any time:

  • Covered vessel means a tank vessel, cargo vessel, or passenger vessel.

  • Material Properties means the material mineral properties and projects of the Corporation and Subsidiaries, more particularly set out in Schedule “B” hereto (which schedule is incorporated into and forms part of this Agreement), including, without limitation, the material mineral properties known as the Twangiza, Lugushwa, Namoya and Kamituga deposits, and each a “Material Property”;

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

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

  • Material Insurance Subsidiary means a Material Subsidiary that is also an Insurance Subsidiary.

  • 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”);

  • Group Company of a Company means

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

  • existing vessel means a vessel which is not a new vessel;

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

  • authorised entity means an entity that is authorised or recognised by a Member State to provide education, instructional training, adaptive reading or information access to beneficiary persons on a non-profit basis. It also includes a public institution or non-profit organisation that provides the same services to beneficiary persons as one of its primary activities, institutional obligations or as part of its public-interest missions.

  • Passenger vessel means any boat, ship, vessel,

  • Approved Entity means a body corporate that is incorporated or established under the laws of an OECD member state and which, on the occurrence of the Relevant Event, has in issue Relevant Shares.

  • Material Owned Real Property means any Mine or other real property, in each case, owned or acquired in fee by any Loan Party having a fair market value in excess of $1,000,000.