Replacement Ship definition

Replacement Ship has the meaning given in Clause 8.8(b);
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Replacement Ship means the 2000-built bulk carrier of 40,562 gross registered tons and 26,139 net registered tons currently registered in the ownership of the Replacement Ship Seller under Bahamas flag with the name “LIBERTY ONE” which is to be acquired by Argo pursuant to the Replacement Ship MOA and registered in its ownership under Maltese flag with the name “REDONDO”;
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Replacement Ship means a Qualifying Replacement Ship that has become a Replacement Ship in accordance with Clause 9.11 (Replacement Ships). "Requisition Compensation" includes all compensation or other moneys payable by reason of any act or event such as is referred to in paragraph (b) of the definition of "Total Loss". "Resolution Authority" means any body which has authority to exercise any Write-down and Conversion Powers. "Restricted Amount" means, in respect of an Existing Ship, the part of the Total Revolving Commitments which has been designated a Restricted Amounts in respect of that Existing Ship in accordance with Clause 9.10 (Mandatory prepayment and cancellation on sale, Total Loss, termination of Shipbuilding Contract or occurrence of Retirement Date) as may be reduced pursuant to Clause 9.11 (Replacement Ships).
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Examples of Replacement Ship in a sentence

  • If after the drawdown of the Advance, a Ship is sold or becomes a Total Loss, the Borrower shall prepay to the Agent (for account of the Lenders) the Disposal Reduction Amount on the Post-Advance Disposal Reduction Date, unless that Ship being sold or becoming a Total Loss is replaced with a Replacement Ship and the Replacement Conditions have been met to the satisfaction of the Agent by the Post-Advance Disposal Reduction Date.

  • The Borrower will on-lend the Loan to the Owners to assist them in refinancing the Existing Ships and in financing the acquisition of the Target Ships and/or the Replacement Ship.

  • There is no agreement or understanding to allow or pay any rebate, premium, commission, discount or other benefit or payment (howsoever described) to a third party in connection with the purchase by each Owner of the Target Ship or, as the case may be, the Replacement Ship to be owned by it, other than as disclosed to the Lenders in writing on or prior to the date of this Agreement.

  • Two valuations (at the cost of the Borrower) of the Replacement Ship, addressed to the Agent, stated to be for the purpose of this Agreement and dated not earlier than 15 days before the Drawdown Date for the Replacement Ship Advance, each from an Approved Broker.

  • A copy of the Management Agreement and a duly executed original of the Manager’s Undertaking in relation to the Replacement Ship.

  • On a Ship being sold or becoming a Total Loss before the Advance is drawn down, the obligations of the Lenders to make available the Loan Facility set forth in clause 2.1 shall immediately cease and the Lenders’ Commitments shall be reduced to zero on the Pre-Advance Disposal Reduction Date, unless that Ship being sold or becoming a Total Loss is replaced with a Replacement Ship and the Replacement Conditions have been met to the satisfaction of the Agent by the Pre-Advance Disposal Reduction Date.


More Definitions of Replacement Ship

Replacement Ship means the replacement, in any manner, of the Ship existing on the Effective Date including, without limitation, any replacement of such Ship with a riverboat, vessel, barge or improvement on real property, whether such riverboat, vessel, barge or improvement is acquired or constructed and whether or not such riverboat, vessel, barge or improvement is temporarily or permanently moored or affixed to any real property.
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Replacement Ship means a ship of an equivalent type to the Ships as at the date hereof; Replacement Ship Mortgage and Deed of Covenants has the meaning given to that term in the definition of Replacement Conditions;
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Replacement Ship means a ship which satisfies the following criteria:
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Related to Replacement Ship

  • Replacement Facility means 1 of the following:

  • Replacement Engine means a [Engine Manufacturer and Model] engine (or an engine of the same or another manufacturer of a comparable or an improved model and suitable for installation and use on the Airframe with the other Engine (or any other Replacement Engine being substituted simultaneously therewith)) that shall have been made subject to the Lien of the Indenture pursuant to Section 7.04 or Section 7.05 thereof, together with all Parts relating to such engine, but excluding items installed or incorporated in or attached to any such engine from time to time that are excluded from the definition of Parts.

  • Replacement Equipment means operational equipment or other parts used by Tenant to replace any of the Equipment.

  • Replacement Agreement means an agreement entered into as a replacement for any Relevant Agreement;

  • Replacement Energy means Energy purchased by Buyer as replacement for any Delivery Shortfall.

  • Replacement Aircraft means the Aircraft of which a Replacement Airframe is part.

  • Replacement Airframe means an Airbus A321 aircraft or a comparable or improved model of Manufacturer (except (a) Engines or engines from time to time installed thereon and any and all Parts related to such Engine or engines and (b) Excluded Equipment), that shall have been made subject to the Lien of the Indenture pursuant to Section 7.05 thereof, together with all Parts relating to such aircraft.

  • Replacement Supplier means any third party provider of Replacement Services appointed by or at the direction of the Customer from time to time or where the Customer is providing Replacement Services for its own account, shall also include the Customer;

  • 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:

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

  • Replacement Notice is defined in Section 4.11.

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • Replacement Date has the meaning set forth in Section 2.08(b).

  • Replacement unit means a landfill, surface impoundment, or waste pile unit (1) from which all or substantially all of the waste is removed, and (2) that is subsequently reused to treat, store, or dispose of hazardous waste. “Replacement unit” does not apply to a unit from which waste is removed during closure, if the subsequent reuse solely involves the disposal of waste from that unit and other closing units or corrective action areas at the facility, in accordance with an approved closure plan or EPA or State approved corrective action.

  • Relevant Ship means the Ships and any other vessel from time to time (whether before or after the date of this Agreement) owned, managed or crewed by, or chartered to, any Relevant Party;

  • replacement grant means an option that a reasonable person would consider to be granted in relation to a prior or potential cancellation of an option;

  • Ship means a vessel of any type whatsoever operating in the marine environment and includes hydrofoil boats, air-cushion vehicles, submersibles, floating craft and fixed or floating platforms.

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

  • Replacement Management Agreement means, collectively, (a) either (i) a management agreement with a Qualified Manager substantially in the same form and substance as the Management Agreement, or (ii) a management agreement with a Qualified Manager, which management agreement shall be reasonably acceptable to Lender in form and substance, provided, with respect to this subclause (ii), Lender, at its option, may require that Borrower shall have obtained prior written confirmation from the applicable Rating Agencies that such management agreement will not cause a downgrade, withdrawal or qualification of the then current rating of the Securities or any class thereof and (b) an assignment of management agreement and subordination of management fees substantially in the form then used by Lender (or of such other form and substance reasonably acceptable to Lender), executed and delivered to Lender by Borrower and such Qualified Manager at Borrower’s expense.

  • Substitute Aircraft Has the meaning specified in the NPA.

  • Approved Replacement means, with respect to a Market Quotation, an entity making such Market Quotation, which entity would satisfy conditions (a), (b), (c) and (d) of the definition of Permitted Transfer (as determined by Party B in its sole discretion, acting in a commercially reasonable manner) if such entity were a Transferee, as defined in the definition of Permitted Transfer.

  • Replacement Costs means the expenditures for obtaining and installing equipment, accessories or appurtenances which are necessary during the useful life of the treatment works to maintain the capacity and performance for which such works were designed and constructed.