Vessel Covenants. With respect to the Vessel:
Vessel Covenants. Except as otherwise permitted by this Agreement, with respect to each of the Vessels owned by it:
Vessel Covenants. The Borrowers give the undertakings set out in this Clause 25 to each Finance Party and such undertakings shall, unless otherwise specified, remain in force from the date of this Agreement and throughout the Security Period.
Vessel Covenants. Maintain a valid U.S. Coast Guard Certificate of Documentation with a valid fishery endorsement and a current U.S. Coast Guard Certificate of Inspection for each Vessel identified on Schedule 4.16 as a U.S. flagged Vessel, (b) comply with all material (i) U.S. Coast Guard requirements and NMFFP requirements, (ii) xxxxxxx requirements of each Vessel and (iii) requirements of the protection and indemnity and hull underwriters as is necessary to ensure full insurance coverage of each Vessel, and (c) promptly, satisfy all maritime Liens, other than Liens created pursuant to the First Preferred Ship Mortgages and any other Permitted Liens.
Vessel Covenants. Maintain a valid U.S. Coast Guard Certificate of Documentation with a valid fishery endorsement (or coastwise trade endorsement, as its use may require) and a current U.S. Coast Guard Certificate of Inspection for each Vessel identified on Schedule 6.16 as a U.S. flagged Vessel, (b) comply with all material (i) U.S. Coast Guard requirements and NMFFP requirements, (ii) xxxxxxx requirements of each Vessel and (iii) requirements of the protection and indemnity and hull underwriters as is necessary to ensure full insurance coverage of each Vessel, and (c) promptly, satisfy all maritime Liens, other than Liens created pursuant to the First Preferred Ship Mortgages and any other Permitted Liens.
Vessel Covenants. (i) Keep the Vessels registered in the name of the applicable Borrower;
Vessel Covenants. (i) Maintain a current U.S. Coast Guard certification for each Vessel (to the extent such Vessel is in active service), (ii) comply with (A) all U.S. Coast Guard requirements for the type of service the Vessels are engaged in, (B) all xxxxxxx requirements, and (C) all requirements of the protection and indemnity and hull underwriters as is necessary to ensure full insurance coverage and (iii) promptly, satisfy all maritime Liens, other than Liens created pursuant to the Bankruptcy Court Order and any other Permitted Liens.
Vessel Covenants. (a) Vessel’s name and registration. Each Loan Party shall (i) keep the Vessel owned by it registered in its name under the law of the U.S.; (ii) not do, omit to do or allow to be done anything as a result of which such registration might be cancelled or imperiled; and (iii) not change the name or port of registry on which such Vessel was registered when it became subject to a Ship Mortgage.
Vessel Covenants. Maintain a current U.S. Coast Guard Certificate of Documentation and a current U.S. Coast Guard Certificate of Inspection for each Vessel identified on Schedule V-1 as a U.S. flagged Vessel or, solely in the case of Vessels known as the “Cajun Horizon” and the “Gulf Horizon,” cause such Vessel to have a current U.S. Coast Guard Certificate of Inspection prior to such Vessel being placed back into service. Comply with (i) all U.S. Coast Guard requirements and American Bureau of Shipping requirements for the type of service each Vessel is engaged in, (ii) all mxxxxxx requirements of each Vessel, and (iii) all requirements of the protection and indemnity and hull underwriters as is necessary to ensure full insurance coverage of each Vessel. Promptly, satisfy all maritime Liens, other than Liens created pursuant to the First Preferred Ship Mortgages or, solely in the case of Second Priority Vessels, the Second Preferred Ship Mortgages and any other Permitted Liens.
Vessel Covenants. The Borrower will, and will cause the Guarantors to, at all times (i) maintain the classification of each Vessel, (ii) maintain the flag and registry of each Vessel in an Approved Flag State (iii) keep each Vessel in good and safe condition and repair, consistent with prudent ownership and industry standards and (iv) procure that each Vessel be managed by a Manager. Notwithstanding the foregoing, the Borrower or a Guarantor may transfer or change the flag of any of its Vessels to the flag of any other Approved Flag State and in connection therewith the Facility Agent shall instruct the Security Agent to release the existing Mortgage and related Security Documents (insofar as they secure any obligations under the Finance Documents) to which any Vessel is subject in connection with the transfer or change of the flag of such Vessel to another Approved Flag State if (i) the owner of the Vessel has executed (A) a new Mortgage (granting the Security Agent a security interest in such Vessel subject only to Permitted Liens) and (B) the related Security Documents with respect to such Vessel, dated the date such Vessel shall be released from the existing Mortgage and related Security Documents to which it is subject, which Mortgage and related Security Documents shall be in appropriate form for recording or registration in the appropriate governmental offices of the Approved Flag State under which it is being reflagged and the appropriate governmental offices in the jurisdiction of incorporation and/or domicile of the Borrower or the applicable Guarantor if required by applicable law in order to perfect the security interests therein created, as to which the Facility Agent and the Security Agent will be entitled to rely on an Opinion of Counsel to the Borrower with respect thereto; and (ii) the Guarantor has made all necessary arrangements for recording the Mortgage referred to in sub-paragraph (i) above in the appropriate registry office of the Approved Flag State under which the Vessel is being reflagged as soon as reasonably practicable and to make any other filing necessary to perfect the security therein. In addition to the Opinion of Counsel referenced in (i)(B) above, prior to the Security Agent providing any such release, it shall be entitled to receive and to rely exclusively on an Officer’s Certificate and an Opinion of Counsel each stating that such release is authorized or permitted by the terms of the Finance Documents and that all conditions precedent ...
