Permitted Vessel Liens means maritime Liens on ships, barges or other vessels for damages arising out of a maritime tort, wages of a stevedore, when employed directly by a person listed in 46 U.S.C. Section 31341, crew’s wages, salvage and general average, whether now existing or hereafter arising and other maritime Liens which arise by operation of law during normal operations of such ships, barges or other vessels.
Permitted Vessel Liens means:
Permitted Vessel Liens means (i) xxxxxx’x wage liens (including those of masters) for wages, maintenance, and cure, salvage and general average liens, stevedore’s wages, (ii) liens for damages arising from maritime torts (including personal injury and death) which are unclaimed or covered by insurance (subject to applicable deductibles), (iii) liens for general average and salvage, (iv) liens for necessaries or otherwise arising by operation of law in the ordinary course of business in operating, maintaining or repairing a Vessel, (vi) statutory liens for current Taxes or other governmental charges and (vii) mechanics’, carriers’, workers’, repairers’, and similar statutory or common law liens arising or incurred in the ordinary course of business, in each case in the preceding clauses (i) through (vii), for amounts which are not overdue by more than 30 days or that are being contested in good faith by appropriate proceedings and in respect of which, if applicable, the Borrower or any Subsidiary shall have set aside on its books reserves in accordance with GAAP.
Examples of Permitted Vessel Liens in a sentence
The Lessee shall not and shall procure that no member of the Guarantor Group shall (save as provided in Clause 19.2(e) (Sale of the Vessel) or pursuant to the Lease Documents) sell nor purport to sell the Vessel or any part thereof, nor create, incur or permit to arise or be imposed on the Vessel any Vessel Lien, other than Permitted Vessel Liens.
More Definitions of Permitted Vessel Liens
Permitted Vessel Liens means any of the following to the extent arising and from time to time discharged in the ordinary course of business consistent with past practice: (i) Liens for crew wages (including without limitation wages of the master of the Vessel), (ii) Liens for general average and salvage, (iii) Liens for necessaries provided to the Vessel, so long as such Liens do not secure amounts more than 30 days overdue, (iv) Liens arising by operation of law in the ordinary course of business in operating, maintaining or repairing the Vessel, so long as such Liens do not secure amounts more than 30 days overdue, and (v) Liens for claims, loss, damage or expense which are fully covered by insurance, subject to applicable deductibles, or in respect of which a bond or other security has been posted with the appropriate court or other tribunal to prevent the arrest or secure the release of a vessel from arrest; provided that such Permitted Vessel Liens do not, individually or in the aggregate, materially detract from the value of the vessel or materially impair the use thereof in the operation of the vessel.
Permitted Vessel Liens means (i) seaman’s wage liens (including those of masters) for wages, maintenance, and cure, salvage and general average liens, stevedore’s wages, (ii) liens for damages arising from maritime torts (including personal injury and death) which are unclaimed or covered by insurance (subject to applicable deductibles), (iii) liens for general average and salvage, (iv) liens for necessaries or otherwise arising by operation of law in the ordinary course of business in operating, maintaining or repairing a Vessel, (vi) statutory liens for current Taxes or other governmental charges and
Permitted Vessel Liens means, in relation to any Vessel:
Permitted Vessel Liens means (i) Liens for xxxxxx’x wages (including those of masters), maintenance, cure and stevedore’s wages, (ii) Liens for damages arising from maritime torts (including personal injury and death) which are unclaimed or covered by insurance (subject to applicable deductibles), (iii) Liens for general average and salvage, (iv) Liens for necessaries or otherwise arising by operation of law in the ordinary course of business in operating, maintaining or repairing a vessel, (iv) statutory Liens for current Taxes or other governmental charges not required to be paid pursuant to Section 6.12, and (v) mechanics’, carriers’, workers’, repairers’, and similar statutory or common law Liens arising or incurred in the ordinary course of business, in each case for amounts which are not overdue by more than 60 days or that are being contested in good faith by appropriate proceedings and in respect of which, if applicable, the Borrower or any Subsidiary shall have set aside on its books reserves in accordance with GAAP.
Permitted Vessel Liens means Liens permitted under the Fleet Mortgages.
Permitted Vessel Liens means maritime Liens on ships, barges or other vessels for damages arising out of a maritime tort, wages of a stevedore, when employed directly by a Person listed in 46 U.S.C. Section 31341, crew’s wages, salvage and general average, whether now existing or hereafter arising and other maritime Liens which arise by operation of law during normal operations of such ships, barges or other vessels.
Permitted Vessel Liens means (i) Liens for seaman’s wages (including those of masters), maintenance, cure and stevedore’s wages, (ii) Liens for damages arising from maritime torts (including personal injury and death) which are unclaimed or covered by insurance (subject to applicable deductibles), (iii) Liens for general average and salvage, (iv) Liens for necessaries or otherwise arising by operation of law in the ordinary course of business in operating, maintaining or repairing a vessel, (iv) statutory Liens for current Taxes or other governmental charges not required to be paid pursuant to Section 6.12 , and (v) mechanics’, carriers’, workers’, repairers’, and similar statutory or common law Liens arising or incurred in the ordinary course of business, in each case for amounts which are not overdue by more than 60 days or that are being contested in good faith by appropriate proceedings and in respect of which, if applicable, the Borrower or any Subsidiary shall have set aside on its books reserves in accordance with GAAP.