Vessel Interest definition

Vessel Interest means the Owner's rights in the Vessel, --------------- including its rights under the U.K. Documents.
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Vessel Interest means all of the right, title and interest of the --------------- Owner in the Vessel, comprising the Owner's rights under the Head Lease, together with certain ancillary rights thereto, and including the rights in such Vessel of the Owner under the Charter, Trust Agreement, Participation Agreement and the Operative Documents (other than the right to receive Excepted Payments) and the related U.K. Documents, and prior to the delivery of the Vessel under the Construction Contract, the Owner's rights under the Supervisory Agreement.
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Examples of Vessel Interest in a sentence

  • The Owner Trust will not take any -------------------------- position inconsistent with its ownership of the Vessel Interest for U.S. federal, state, or local income tax purposes.

  • Substitute Obligor is acquiring the Vessel ----------------- Interest for its own account for investment and with no present intention of distributing or reselling such Vessel Interest or any part thereof other than a transfer to an affiliate of the Substitute Obligor or a transfer to another person in compliance with the provisions of the Securities Act of 1933, as amended, and the Operative Documents.

  • Owner acknowledges that on the Closing Date Charterer will subcharter the Vessel Interest to MSCL pursuant to the Initial Subcharter.

  • Any subcharterer under a subcharter permitted hereunder may sub-subcharter the Vessel Interest to another Person under a sub-subcharter that otherwise complies with the provisions hereunder applicable to a subcharter hereunder.

  • Nothing in Sections 13.1, 13.2 or 13.3 shall be ------------ construed as a guaranty by the Charterer of any residual value in the Vessel Interest or as a guaranty of the Secured Note.

  • Owner may also solicit bids for the cash purchase of the Vessel Interest on the Termination Date independent of Charterer.

  • The Owner Participant shall indemnify, protect, defend, save and keep harmless the Charterer, the Loan Participant, and the Indenture Trustee from and against any and all Claims that may be imposed on, incurred by or asserted against such Person or the Vessel Interest arising out of or secured by the Owner Participant's Liens or the Owner's Liens described in clause (ii) of the preceding sentence.

  • Subject to Article 18(e), in the event that Charterer or Owner shall have obtained any such bids from any Person other than Charterer or an Affiliate of Charterer, Owner shall sell the Vessel Interest on the Termination Date to such Person which shall have submitted the highest bona fide cash bid.

  • Except for the Owner Participant's obligation pursuant to Section 13.1(a)(ii), the Trust Company shall indemnify, protect, defend, save and keep harmless the Charterer, the Owner Participant, the Loan Participant and the Indenture Trustee from and against any and all Claims that may be imposed on, incurred by or asserted against such Person or the Vessel Interest arising out of or secured by any such Lien.

  • If Owner shall fail to perform any of its obligations pursuant to this Article 18(e) and as a result thereof this Charter Party shall not be terminated on a proposed Termination Date, Owner shall thereafter no longer be entitled to exercise its election to retain the Vessel Interest upon any subsequent Termination Election pursuant to this Article 18 and Charterer may at its option at any time thereafter submit a new termination notice pursuant to Article 18(b).

Related to Vessel Interest

  • Financial Interest means either:

  • Capital Interest means the proportion that a Member's positive Capital Account bears to the aggregate positive Capital Accounts of all Members whose Capital Accounts have positive balances as may be adjusted from time to time.

  • Special Interest shall have the meaning assigned thereto in Section 2(c) hereof.

  • Asset Interest is defined in Section 2.1(b).

  • Significant Financial Interest means anything of monetary value, including but not limited to, salary or other payments for services (e.g., consulting fees or honoraria); equity interests (e.g., stocks, stock options or other ownership interests); and intellectual property rights (e.g., patents, copyrights, license agreements, and royalties from such rights). The term does not include:

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Month End Interest As defined in each Servicing Agreement.

  • Mineral interest means the interest in the minerals beneath the surface of a tract of land. A mineral interest may be severed from the ownership of the surface of the tract. Ownership of a mineral interest generally involves four incidents of ownership: (1) the right to use the surface; (2) the right to incur costs and retain profits, also called the right to develop; (3) the right to transfer all or a portion of the mineral interest; and (4) the right to retain lease benefits, including bonuses and delay rentals.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Accreted Interest Interest accrued on a Loan that is added to the principal amount of such Loan instead of being paid as it accrues.

  • Class B Additional Interest shall have the meaning specified in subsection 4.02(b).

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Collateral Senior Additional Interest shall have the meaning specified in subsection 4.02(d).

  • Class A Additional Interest shall have the meaning specified in subsection 4.02(a).

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.

  • Initial Interest Rate means, as of any date of determination, (a) with respect to each A Note, the Initial Note A Interest Rate and (b) with respect to each B Note, the Initial Note B Interest Rate.

  • Material financial interest means a personal and pecuniary interest, direct or indirect, accruing to a public servant or spouse, either individually or in combination with each other. Notwithstanding the foregoing, the following shall not be deemed to be a material financial interest with respect to a business with which a public servant may be associated:

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Class C Additional Interest is defined in Section 4.1(c).

  • Capital Interests in any Person means any and all shares, interests (including Preferred Interests), participations or other equivalents in the equity interest (however designated) in such Person and any rights (other than Debt securities convertible into an equity interest), warrants or options to acquire an equity interest in such Person.

  • Collateral Interest means a fractional undivided interest in the Trust which shall consist of the right to receive, (i) to the extent necessary to make the required payments to the Collateral Interest Holder under this Supplement, the portion of Collections allocable thereto under the Agreement and this Supplement and funds on deposit in the Collection Account allocable thereto pursuant to the Agreement and this Supplement and (ii) amounts available for payment to the Collateral Interest Holder pursuant to subsections 4.07(k), 4.12(e), 4.12(f), 8.01(b), 8.02(a) and 8.02(b) or any other provision of this Supplement.

  • International Interest has the meaning ascribed to the defined term “international interest” under the Cape Town Treaty.

  • Class R-III Interest The uncertificated Residual Interest in REMIC III.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • registered interest means an international interest, a registrable non-consensual right or interest or a national interest specified in a notice of a national interest registered pursuant to Chapter V;