Vessel Subsidiary Guarantor definition

Vessel Subsidiary Guarantor means, at any time, any Subsidiary Guarantor that owns (x) a Primary Collateral Vessel or (y) any interests, directly or indirectly, in a Subsidiary Guarantor which owns a Primary Collateral Vessel at such time.
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Vessel Subsidiary Guarantor has the meaning set forth in Section 3.1(b).
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Examples of Vessel Subsidiary Guarantor in a sentence

  • On the applicable Acquisition Vessel Joinder Date, the Vessel Collateral Requirements with respect to such Acquisition Vessel Subsidiary Guarantor and with respect to such Acquisition Vessel shall be satisfied or the Lenders shall have waived such requirements and/or conditioned such waiver on the satisfaction of such requirements within a specific period of time, it being understood that all Lenders will be required for a waiver of such requirements with respect to such Acquisition Vessels.

  • The Administrative Agent shall have received a duly executed letter evidencing the acceptance by International Seaways Ship Management LLC of its appointment as agent for the service of process for each Acquisition Vessel Subsidiary Guarantor that is not an existing Subsidiary Guarantor, which acceptance shall be in form and substance reasonably satisfactory to the Administrative Agent.