Second Vessel definition

Second Vessel means a handysize dry bulk carrier of approximately 27,802dwt built in 1997 named “Torm Pacific”. The present flag of the Second Vessel is Singapore and the place of registration is Singapore. The Classification Society of the vessel is Lloyd’s Register of Shipping;
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Second Vessel means the KAIMANA HILA, Official Number 1274135.
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Second Vessel means a handysize dry bulk carrier of approximately 31,894dwt, named “Cook Strait”.
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Examples of Second Vessel in a sentence

  • Charterer has elected to apply its investment in the ship mortgage obligation (the "Net Ship Investment") as consideration for Owner's grant of the Assignment Option and option to acquire Owner's right to purchase the Second Vessel from an affiliate of Cruise Holdings).

  • The acquisition of the Second Vessel is expected to meet the growing demands from the Asia Pacific market and to take advantage of port infrastructure development in Asia.

  • The Mortgagor has authorized the execution and delivery of the Second Vessel Note Purchase Agreement and the issuance of the Second Vessel Note in the Maximum Principal Amount of $139,584,000, to finance, in part, the construction costs of the construction of the KAIMANA HILA, Official Number 1274135 (the “Second Vessel”).

  • From and after the Second Closing Date and at all times thereafter, the Shipowner shall, without cost to the Administrator, keep the Second Vessel insured in accordance with Section 11.10 (b) of the Agreement.

  • The Mortgagor hereby covenants and agrees with the Mortgagee that the Second Vessel subject to the lien of this Mortgage is to be held by the Mortgagor subject to the further agreements and conditions set forth in the Mortgage.

  • RiskConsequenceControls requiredNot effectively managing budgets could lead to overspending.Possible legal challenge, audit qualification and ultra vires expenditure.Scrutiny of budgets through review of monitoring reports.

  • As the First Vessel began operation in September 2010 and the Second Vessel began operation in February 2011, the contribution from this business segment was minimal in 2010.

  • The Second Vessel has been owned by the Second Vendor since November 2007 and its net book value as at 31 December 2007 was approximately US$59,574,000.

  • Nothing in this Assignment shall be deemed or construed to create a delegation to or assumption by the Administrator, of the duties and obligations of the Shipowner under any agreement or contract relating to the Second Vessel or the Insurances.

  • We show that there is a correspondence between the choice of budgeting processes and national political systems in line with our theoretical predictions.


More Definitions of Second Vessel

Second Vessel. ’ means a handysize dry bulk carrier of 28,747 dwt built in 1997 named ‘‘Aqua Venus’’. The present flag of the Second Vessel is Hong Kong and the place of registration is Hong Kong. The Classification Society of the vessel is Nippon Kaiji Kyokai;
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Second Vessel. ’ means a cruiser vessel named as ‘‘Sunseeker 88’’ acquired
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Second Vessel. ’ means a handysize dry bulk carrier of 28,759 dwt built in 1997 now
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Second Vessel means the Second Vessel listed on Schedule III hereto, registered in the name of Sulphur; "Security Document(s)" shall mean the Mortgages, the Assignments and any other documents that may be executed as security for the Facility and the Borrowers' obligations in connection therewith; "Security Party(ies)" shall mean each of the Borrowers and each of the Guarantors;
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Second Vessel means the KAIMANA HILA, Official Number: 1274135.
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Related to Second Vessel

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

  • 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.

  • 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:

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

  • 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”);

  • 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.

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

  • 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.

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

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

  • 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.

  • Passenger vessel means any boat, ship, 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;

  • 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;

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

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

  • Bareboat Charter means the bareboat charter agreement to be executed by the Effective Date by the Borrower as owner and the Charterer as bareboat charterer.

  • 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.

  • 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.

  • 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

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

  • 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.

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

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

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

  • 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.