Released Vessel definition

Released Vessel has the meaning given to it in Clause 5.17(a).
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Released Vessel means the motor vessel “MAGIC MOON”, of about 39,727 gt and 25,754 nt, built in 2005 in Japan by Imabari Shipbuilding Co. Ltd., having IMO No. 9336036, registered under the laws and flag of the Republic of the Xxxxxxxx Islands at the Ships Registry of the port of Majuro in the ownership of the Pikachu Borrower with Official No. 7474;
Sample 1
Released Vessel means the m.v. "MXXXXX X." built in 1998, being of 27011 gross tons and of 16011 net tons currently registered under the Liberian flag in the ownership of the Second Additional Corporate Guarantor with Official Number 10909, referred to in the Second Supplemental Agreement as Second Collateral Vessel;
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Examples of Released Vessel in a sentence

  • Such prepayment shall be made on the date of a sale or disposal of such Vessel and in the case of a Released Vessel on the date proposed by the Borrower for release and discharge of the Assignment relating to that Vessel.

  • For the avoidance of doubt, no cancellation of the Available Commitments will occur and no prepayment of the Relevant Borrower’s Term Loan will be required in accordance with this Clause 5.9 following a Major Casualty Event if the relevant Vessel affected by such Major Casualty Event has become a Released Vessel in accordance with Clause 5.17.

  • Upon the Effective Date, the Lenders agree that the Collateral relating to the Released Vessel shall be irrevocably and unconditionally released, and hereby authorize the Security Trustee to enter into a release and reassignment agreement and such other documents as necessary to terminate the security interest in the Collateral relating to the Released Vessel.

  • In order to induce the Counterparties to release the Released Vessel, Seabulk Falcon II, Inc.

  • The Lenders hereby authorize the Security Trustee to enter into any release and reassignment agreements and such other documents as necessary to terminate the security interest in the Collateral relating to the Released Vessels and Released Vessel Owners and release and discharge each of the Released Parties from their obligation under the Transaction Documents, in each case on the Effective Date.

  • The Borrower has requested that the SEABULK ARKANSAS (the "Released Vessel") owned by one of the Subsidiary Guarantors be released from the Mortgage thereon and that the SEABULK FALCON II owned by the Assignor, a wholly-owned subsidiary of the Borrower, be substituted therefor.

  • In order to make it easier to browse and study our data set without the need for creating an own search engine, a tool called MeroL is also included in the downloadable resources that serves as a local front-end to the index and the sources.

  • For the avoidance of doubt, no cancellation of the Available Commitments will occur and no prepayment of the Relevant Borrower’s Term Loan will be required in accordance with this Clause 5.9 following a Major Casualty Event if the relevant Vessel affected by such Major Casualty Event has become a Released Vessel in accordance with Clause 5.16.

  • In order to induce the Lenders to release the Released Vessel, Seabulk Falcon II, Inc.

Related to Released Vessel

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

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

  • 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;

  • 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.

  • 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.

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

  • 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”);

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

  • 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.

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

  • storage vessel means a pressure vessel as defined in the Regulations for Pressure Vessels made under the Occupational Health and Safety Act;

  • Pressure vessel means a vessel that may be used for containing, storing, distributing, transferring, distilling, processing or otherwise handling any gas, vapour or liquid under pressure greater than the atmospheric pressure and includes any pipeline fitting or other equipment attached thereto or used in connection therewith; and

  • Mortgaged Ship means a Ship which is subject to a Mortgage at the relevant time and, in the plural, means all of them;

  • 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.

  • tanker in relation to chapter 4 means an oil tanker as defined in MARPOL Annex I, regulation 1 or a chemical tanker or an NLS tanker as defined in MARPOL Annex II, regulation 1.

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

  • Charterer means a person, firm, corporation, association, partnership, or other legal entity who contracts for the transportation of passengers and baggage, or goods and/or property from a specified origin to a specified destination, for a particular itinerary, agreed upon in advance.

  • 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;

  • SHIPPING RELEASE means the document issued by the inspector or the inspection agency nominated by the Purchaser authorising the Contractor to ship the Stores on satisfactory completion of inspection.

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

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

  • Passenger vessel means any boat, ship, vessel,

  • Sailing vessel means any vessel under sail provided that propelling machinery, if fitted, is not being used.

  • Time Charter means the hire of a Vessel by which the charterer obtains possession and control of the Vessel for an agreed period of time or an agreed voyage.

  • Insurances means, in relation to a Ship: