The Vessels. The Vessels are or will on the relevant Utilisation Date be:
The Vessels. In respect of each of the Vessels:
The Vessels the Administrative Agent shall have received evidence satisfactory to it that the relevant Vessel:
The Vessels. The Vessels will on the first Drawdown Date be:
The Vessels. The Facility Agent shall have received evidence satisfactory to it that each Vessel:
The Vessels. Each Vessel is or will, from (and including) the relevant Acquisition Date, be:
The Vessels. (a) Appraisal reports on the Market Value of the Vessel not being older than one hundred (100) days before the Utilisation Date evidencing compliance with Clause 25.1 (Minimum Market Value);
The Vessels. The Borrowers have entered into or will enter in a memorandum of agreement for the purchase of the Vessels (as defined below).
The Vessels. (a) A proceeding shall have been commenced on behalf of the United States of America to effect the forfeiture of any of the Vessels or any notice shall have been issued on behalf of the United States of America of the seizure of any of the Vessels or to the effect that the Certificate of Documentation of any of the Vessels is subject to cancellation or revocation, for any reason whatsoever and the Borrower shall have failed within ten (10) days of the occurrence thereof to have assigned and pledged to the Bank, or cause to have assigned and pledged to the Bank, additional collateral having an aggregate value (as determined by the Bank in its sole discretion) at least equal to the agreed value (as set forth on Schedule 3.5) of such Vessel or Vessels in accordance with Section 2.5; or
The Vessels. (a) Class certification of a Vessel is withdrawn.
