Parent Vessels definition

Parent Vessels the Parent Owned Vessels and the Parent Leased Vessels.
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Parent Vessels means a vessel owned by Parent or any Subsidiary of Parent.
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Examples of Parent Vessels in a sentence

  • Parent and its Subsidiaries maintain (i) Policies covering Parent, its Subsidiaries or their respective businesses, properties, assets, directors, officers or employees, and (ii) Policies covering the Parent Vessels in such amounts and types as are customary in the shipping industry.

  • Except as set forth in Section 5.16 of the Parent Disclosure Letter or as would not reasonably be expected to be material to the Parent and its Subsidiaries, taken as a whole, as of the date of this Agreement (a) there is no Action pending or, to the Knowledge of Parent, threatened against Parent, any of its Subsidiaries or any Parent Vessels (including in connection with any pool in which a Parent Vessel is entered).

  • Each Parent Vessel is lawfully documented and each Parent Vessel and owner of such Parent Vessel complies with all applicable Legal Requirements of the United States of America or any jurisdiction to which the Parent Vessels may in addition be subject, in each case, except as would not be material to Parent and its Subsidiaries taken as a whole.

  • Parent and its Subsidiaries maintain (i) insurance policies and fidelity bonds covering Parent, its Subsidiaries or their respective businesses, properties, assets, directors, officers or employees and (ii) protection and indemnity, hull and machinery and war risks insurance policies and club entries covering the Parent Vessels in such amounts and types as are customary in the shipping industry (collectively, the “Parent Policies”).

  • There is no unsatisfied judgment, penalty or award against Parent, any of Parent's Subsidiaries or any Parent Vessels (including in connection with any pool in which a Parent Vessel is entered).

  • There is no unsatisfied judgment, penalty or award against Parent, any of Parent’s Subsidiaries or any Parent Vessels (including in connection with any pool in which a Parent Vessel is entered).

  • Parent and each of its Subsidiaries that owns or operates Parent Vessels in the coastwise trade of the United States of America is a citizen of the United States of America pursuant to Section 2 of the Shipping Act of 1916, as amended, and is fully qualified to own and operate vessels in the coastwise trade of the United States of America.

  • Each of Parent and its Subsidiaries is, and at the Effective Time will be, a citizen of the United States, within the meaning of Section 2 of the Shipping Act of 1916, 46 U.S.C. §50501, as amended, eligible to own and operate the Parent Vessels in the trade of the United States in which they operate.

  • Each of Parent and its Subsidiaries has obtained all material Permits required for it to own, lease or operate its properties (including the Parent Vessels and any vessel operated or commercially or technically managed by the Parent or a Subsidiary under a Charter Contract) and conduct its business.

  • Parent and each of its Subsidiaries are qualified in all material respects to own and operate the Parent Vessels under applicable Laws, including the Laws of each Parent Vessel’s Flag State.

Related to Parent Vessels

  • 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”);

  • 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.

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

  • 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:

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

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

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

  • Pressure vessel means containers for the containment of pressure, either internal or external. This pressure may be obtained from an external source or by the application of heat from a direct or indirect source, or any combination thereof.

  • 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;

  • Existing ship means a ship which is not a new ship.

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

  • Charter Capital means Charter Communications Holdings Capital Corporation, a Delaware corporation, and any successor in interest thereto.

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