Qualified Vessel definition

Qualified Vessel means, as of any date, a Vessel which (i) is not a Mortgaged Vessel as of such date and (ii) is to be owned by the Company or a Mortgaged Vessel Guarantor.
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Qualified Vessel means a 6th or 7th (or later) generation Vessel that is (i) subject to a Qualified Services Contract and (ii), in the case of any Vessel that is not a Vessel owned by the Company on the Issue Date, of substantially comparable (or better) quality and value as (or than) the Vessels owned by the Company on the Issue Date.
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Qualified Vessel means, as of any date, a Vessel which (i) is not a Mortgaged Vessel as of such date and (ii) is to be owned by the Issuer or a Mortgaged Guarantor and (iii) is flagged in a Permitted Flag Jurisdiction.
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Examples of Qualified Vessel in a sentence

  • VESSEL GEOGRAPHIC TRADING RESTRICTIONS Schedule B (Qualified Vessel) Areas of Great Lakes Trade Applies to commerce between points on the Great Lakes & their connecting waterways in the immediate evirons of the Great Lakes II.

  • VESSEL GEOGRAPHIC TRADING RESTRICTIONS Schedule B (Qualified Vessel) Areas of “Noncontiguous Domestic” Trade 1.

  • Substitution of a Qualified Vessel or Qualified Collateral; Designation as Mortgaged Vessel.

  • Substitution of a Qualified Vessel or Qualified Collateral; Designation as Future Mortgaged Vessel 124 SECTION 11.10.


More Definitions of Qualified Vessel

Qualified Vessel means a Vessel that is subject to a Qualified Services Contract.
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Qualified Vessel means, as of any date, a Vessel which (i) is not a Mortgaged Vessel as of such date and (ii) is to be owned by the Company ora Mortgaged Vessel Guarantor.
Sample 1
Qualified Vessel means a 6th or 7th (or later) generation Vessel that is (i) subject to a Qualified Services Contract and (ii), in the case of any Vessel that is not a Vessel owned by the Borrower on the Issue Date, of substantially comparable (or better) quality and value as (or than) the Vessels owned by the Borrower on the Issue Date.
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Qualified Vessel means, at any time, the completed and delivered Vessels owned by Parent and its Restricted Subsidiaries at such time that are of substantially comparable (or better) quality and value as (or than) the quality and value at such time of the Vessels owned on the Restructuring Effective Date by Parent and its Restricted Subsidiaries, as determined in good faith by a Financial Officer.
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Related to Qualified Vessel

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

  • 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”);

  • 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;

  • 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.

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

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

  • foreign vessel means any vessel other than a coastal 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:

  • Passenger vessel means any boat, ship, vessel,

  • Qualified vendor means a vendor who:

  • Documented vessel means a vessel documented under chapter 121, title 46, United States Code or a vessel for which an application for such docu- mentation is pending.

  • Qualified GIC A guaranteed investment contract or surety bond providing for the investment of funds in the Custodial Account and insuring a minimum, fixed or floating rate of return on investments of such funds, which contract or surety bond shall:

  • foreign fishing vessel means any fishing vessel other than a local fishing vessel;

  • Qualified veteran means a person who meets the following requirements:

  • Qualified Nurse means a person who holds a valid registration from the Nursing Council of India or the Nursing Council of any state in India.

  • 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.

  • Cargo vessel means a self-propelled ship in commerce, other than a tank vessel or a passenger vessel, three hundred or more gross tons, including but not limited to, commercial fish processing vessels and freighters.

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

  • Delivery vessel means tank trucks or trailers equipped with a storage tank and used for the transport of gasoline from sources of supply to stationary tanks of gasoline dispensing facilities.

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

  • Qualified Operator means a Person that has at least five (5) years’ experience operating power generation and storage facilities generally similar to the Facility.

  • Qualified Property has the meaning set forth in Section 313.021(2) of the TEXAS TAX CODE and as interpreted by the Comptroller’s Rules and the Texas Attorney General, as these provisions existed on the Application Review Start Date.

  • Qualified machinery and equipment means all new industrial

  • foreign ship means a ship which—

  • Eligible Real Property means the real property listed on Schedule 1.01(a) owned by a Loan Party (i) that is located in the United States of America and is acceptable to the Agent in its Permitted Discretion for inclusion in the Borrowing Base, (ii) in respect of which an appraisal report has been delivered to the Agent in form, scope and substance satisfactory to the Agent in its Permitted Discretion, (iii) in respect of which the Agent is satisfied that all actions necessary or desirable in order to create perfected first priority Lien on such real property have been taken, including the presentation or delivery of the Mortgage to a title insurance company for recording, provided that the title insurance company has issued its title insurance policy to the Agent pursuant to clause (v) below in a New York style closing, (iv) in respect of which a Phase I environmental review report has been completed and delivered to the Agent in form and substance satisfactory to the Agent in its Permitted Discretion and which does not indicate any pending, threatened or existing Environmental Liability, or non compliance with any Environmental Law (except to the extent that Reserves for any such Environmental Liability deemed adequate by the Agent in its Permitted Discretion exist), (v) which is adequately protected by fully-paid valid title insurance with endorsements and in amounts acceptable to the Agent, insuring that the Agent, for the benefit of the Lenders, has a perfected first priority Lien on such real property, evidence of which shall have been provided in form and substance satisfactory to the Agent in its Permitted Discretion, and (vi) if required by the Agent: (A) an ALTA survey reasonably acceptable to the Agent and the title insurance company has been delivered for which all necessary fees have been paid and which is dated no more than 90 days prior to the date on which the applicable Mortgage is executed and delivered to a title insurance company for recording, certified to Agent and the issuer of the title insurance policy in a manner satisfactory to the Agent in its Permitted Discretion by a land surveyor duly registered and licensed in the state in which such Eligible Real Property is located and acceptable to the Agent in its Permitted Discretion; (B) in respect of which local counsel in states in which the Eligible Real Property is located have delivered a letter of opinion with respect to the enforceability and perfection of the Mortgages and any related fixture filings in form and substance satisfactory to the Agent in its Permitted Discretion; and (C) in respect of which such Loan Party shall have used its reasonable best efforts to obtain estoppel certificates executed by all tenants of such Eligible Real Property and such other consents, agreements and confirmations of lessors and third parties have been delivered as the Agent may deem necessary or desirable in its Permitted Discretion, together with evidence that all other actions that the Agent may deem necessary or desirable in order to create perfected first priority Liens on the property described in the Mortgages have been taken.