Vessel Two definition

Vessel Two means the vessel “CS Sovereign” with Official Number 721180 currently registered under the flag of United Kingdom in the ownership of the Seller and intended to be sold by the Seller to the Borrower on the terms of the relevant Purchase Option, and everything now or in the future belonging to her on board and ashore, which vessel is intended to be registered by the Borrower under the flag of the United Kingdom.
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Vessel Two means the Vessel designated as “Vessel Two” in Schedule 1.
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Vessel Two means the Vessel designated as "Vessel Two" in Schedule 1. 1.127. "Vessels" means the vessels listed in Schedule 1 or any other vessel which may from time to time be mortgaged in favour of the Security Trustee as security for the obligations of the Security Parties under the Finance Documents, and everything now or in the future belonging to them on board and ashore and "Vessel" means any one of them. 1.
Sample 1

Examples of Vessel Two in a sentence

  • APPENDIX A Form of Drawdown Notice To: ING Bank N.V., Singapore Branch 1 Xxxxxxx Xxxxxx, #00-00 Xxxxx Xxxxx Xxxxxxxxx 000000 From: Pernli Marine Ltd Persect Marine Ltd Felox Marine Ltd Respent Marine Ltd Date: [ ] 2022 Dear Sirs, Drawdown Notice – Vessel Loan[s] for [Vessel One] [Vessel Two] [Vessel Three] [Vessel Four] We refer to the Loan Agreement dated [ ] 2022 made between (amongst others) ourselves and yourselves (the “Agreement”).

  • Any repayment or prepayment under Clauses 7.1 (Illegality), 7.2 (Voluntary prepayment of Loan), 7.3 (Right of cancellation and prepayment in relation to a single lender), 7.4 (Mandatory prepayment on sale or Total Loss of Vessel One) and 7.5 (Mandatory prepayment on sale or Total Loss of Vessel Two) shall satisfy the obligations under Clause 6.1 (Repayment of Loan) in inverse order of maturity.

  • The Guarantor acknowledges that each of the Security Agent’s rights and powers arising out of or pursuant to the Collateral Mortgage shall in all respects and at all times have precedence and priority over the rights and powers of the Guarantor arising out of or pursuant to the Vessel Two Bareboat Charter.

  • This Clause 18.26 shall only apply to Vessel Two while it constitutes a Delivered Vessel.

  • The Borrower shall not without the prior written consent of the Majority Lenders novate or supersede the Vessel One Bareboat Charter or (only while Vessel Two constitutes a Delivered Vessel) the Vessel Two Bareboat Charter.

  • The Borrower shall not without the prior written consent of the Majority Lenders materially amend, vary or supplement or waive any material term of, the Vessel One Bareboat Charter or (only while Vessel Two constitutes a Delivered Vessel) the Vessel Two Bareboat Charter.

  • The Guarantor agrees that, for the duration of the term of the Vessel Two Bareboat Charter, the rights and powers of the Security Agent in relation to the Guarantor’s interest in Vessel Two’s Insurances shall (mutatis mutandis) be the same as the rights and powers of the Security Agent under or pursuant to the Collateral Deed of Covenants in relation to the Insurances of Vessel Two.

  • Any prepayment under this Agreement shall be made together with accrued interest on the amount prepaid and, subject to any Break Costs and subject to Clause 7.2.2 (Voluntary prepayment of Loan), Clause 7.4 (Mandatory prepayment on sale or Total Loss of Vessel One) and Clause 7.5 (Mandatory prepayment on sale or Total Loss of Vessel Two), without premium or penalty.

  • This Clause 18.25 shall only apply to Vessel Two while it constitutes a Delivered Vessel.

  • The Guarantor agrees that the Security Agent or its nominee is entitled to exercise all of the Borrower’s rights and benefits and assume and carry out all of the Borrower’s obligations under or in respect of the Vessel Two Bareboat Charter on the terms set out in the Collateral Assignment.


More Definitions of Vessel Two

Vessel Two sale The Guarantor agrees that, should an Event of Default occur and the Security Agent wish to sell Vessel Two pursuant to its rights under the Collateral Mortgage, such sale may be made free of the Vessel Two Bareboat Charter and any claim for loss of the same shall be made against the Borrower.
Sample 1

Related to Vessel Two

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

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

  • 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.

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

  • 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.

  • 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.

  • 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”);

  • 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;

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

  • 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.

  • 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.

  • oil tanker means a ship constructed or adapted primarily to carry oil in bulk in its cargo spaces and includes combination carriers and any “chemical tanker” as defined in Annex II of the present Convention when it is carrying a cargo or part cargo of oil in bulk.

  • FPSO means a floating production, storage and offloading system used by the offshore oil and gas industry for the production or processing of hydrocarbons and for storage of hydrocarbons. FSOs and FLNGs are included within this definition. The determination as to whether a particular property constitutes an FPSO shall be at the sole determination of the Underwriter.

  • 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;

  • Pressure vessel means containers for the containment of pressure, either internal or external. This pressure may be obtained from an external source or by the application of heat from a direct or indirect source, or any combination thereof.

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

  • 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.

  • Coasting has the meaning given by regulations under subsection (3) of section 60B of the Education and Inspections Act 2006 in relation to a school to which that section applies.

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

  • Sewage sludge weight means the weight of sewage sludge, in dry U.S. tons, including admixtures such as liming materials or bulking agents. Monitoring frequencies for sewage sludge parameters are based on the reported sludge weight generated in a calendar year (use the most recent calendar year data when the NPDES permit is up for renewal).

  • 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:

  • 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.

  • International air transportation means transportation by air between a place in the United States and a place outside the United States or between two places both of which are outside the United States.

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

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

  • Marine means pertaining to tidally influenced waters, including oceans, sounds, straits, marine channels, and estuaries, including the Pacific Ocean, Puget Sound, Straits of Georgia and Juan de Fuca, and the bays, estuaries and inlets associated therewith.