Sold Mortgaged Vessel definition

Sold Mortgaged Vessel as defined in Section 6.5(b)(ii).
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Sold Mortgaged Vessel has the meaning set forth in Section 4.24.
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Sold Mortgaged Vessel means a Mortgaged Vessel (together with the applicable charters, freights and hires and other related agreements) sold pursuant to the terms of Section 4.06 of this Indenture, including the transfer of a Mortgaged Vessel pursuant to a Bareboat Charter or the sale of all the interests in a Mortgaged Vessel.
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Examples of Sold Mortgaged Vessel in a sentence

  • Net Available Cash or Net Event of Loss Proceeds, as the case may be, attributable to such Sold Mortgaged Vessel or such Lost Mortgaged Vessel, as the case may be, shall be made available to the Company or any Restricted Subsidiary pursuant to the terms, and subject to the conditions, of this Indenture and the Security Agreements to make any deposits in respect of, or to consummate the purchase of, the Qualified Substitute Vessel, and to pay related fees and expenses and make upgrades and repairs thereon.

  • Net Available Cash or Net Event of Loss Proceeds, as the case may be, attributable to such Sold Mortgaged Vessel or such Lost Mortgaged Vessel, as the case may be, will be made available to the Company pursuant to the terms, and subject to the conditions, of this Indenture, including Article 13 hereof, to make any deposits in respect of, or to consummate the purchase of, or pay any Ready for Sea Cost in respect of, the Qualified Substitute Vessel.

  • To the extent that any such Net Available Cash or Net Event of Loss Proceeds attributable to such Sold Mortgaged Vessel or Lost Mortgaged Vessel remain on deposit with the Trustee after the tender of the Qualified Substitute Vessel, such funds shall be released to the Company, free of the Lien of this Indenture, and the Company shall use such funds for any Permitted Excess Cash Use or to make an Excess Proceeds Offer.

Related to Sold Mortgaged 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;

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

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

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

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

  • 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:

  • 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”);

  • MERS Eligible Mortgage Loan Any Mortgage Loan that has been designated by the Servicer as recordable in the name of MERS.

  • FHA Approved Mortgagee A corporation or institution approved as a mortgagee by the FHA under the Act, and applicable HUD regulations, and eligible to own and service mortgage loans such as the FHA mortgage loans.

  • Eligible Mortgage Loan means, on any date of determination, a Mortgage Loan:

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

  • Closing Date Mortgaged Property as defined in Section 3.1(i).

  • Mortgaged Real Property means each of the parcels of real property set forth on Schedule 4 hereto, or interests therein, owned in fee by a Credit Party, together with each other parcel of Real Property that shall become subject to a Mortgage after the Closing Date, in each case together with all of such Credit Party’s right, title and interest in the improvements and buildings thereon and all appurtenances, easements or other rights belonging thereto.

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

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • 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.

  • Mortgaged Premises means any real property which shall now or hereafter be subject to a Note Mortgage and/or an ABL Mortgage.

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

  • Covered Mortgage Loan Any Mortgage Loan that is covered by a PMI Policy.

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

  • Specified Property means property for which an election has been made for a special elective benefit.

  • Passenger vessel means any boat, ship, vessel,

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