Relevant Vessel definition

Relevant Vessel means a vessel to which the rules of the IMO apply.

Relevant Vessel means the Vessel which is sold or becomes a Total Loss;

Relevant Vessel means the Vessel in respect of which the relevant Advance is being made available;

Examples of Relevant Vessel in a sentence

• Such Compliance Certificate will also attach appraisals in form and substance satisfactory to the Administrative Agent setting out (in reasonable detail) the Asset Value and Terminal Value of each Relevant Vessel.

• Evidence that any Taxes due and payable by the Borrower or any Relevant Vessel Owner in connection with the Relevant Vessel Owner’s purchase of the Relevant Vessel have been paid and discharged in full.

• If applicable, evidence in form and substance satisfactory to the Administrative Agent of the release and discharge of any existing mortgage or other Security Interest affecting any Relevant Vessel, or any other releases in connection with any interest which would or might otherwise, in the Administrative Agent’s opinion, adversely affect the security constituted by the Security Documents.

• Documentary evidence that the Relevant Vessel has been delivered to the Relevant Owner in accordance with the relevant Shipbuilding Contract.

• If required by the Bank a satisfactory survey report (at the cost of the Borrowers) in respect of the Relevant Vessel from an independent marine surveyor selected by the Bank who shall have conducted a physical inspection of the Relevant Vessel.

More Definitions of Relevant Vessel

Relevant Vessel means the Vessel and any other ship from time to time (whether before or after the date of this Agreement) owned, managed or crewed by, or chartered to, any Group Member;

Relevant Vessel has the meaning specified in Section 4.02(a)(ii).

Relevant Vessel means the Vessel in respect of which that Advance is being made available and “Relevant Shipbuilding Contract” means the Shipbuilding Contract in respect of the Relevant Vessel.

Relevant Vessel shall have the meaning provided in Section 2.01.

Relevant Vessel means the relevant one of the Additional Vessels over which an Additional Mortgage is to be executed upon release of the Released Cash Amount,

Relevant Vessel means the Ships and any other vessel operated, managed or crewed by any member of the Group.

Relevant Vessel means a ship or any other floating craft of any description, including hovercrafts and submersible crafts, flying the flag of Malta or displaying the marks of registry of Malta and exercising freedom of navigation in accordance with international law; and