23Concerning Collateral Vessels. (a) The name, record owner (which record owner is a Loan Party), official number, jurisdiction of registration, build month and year and flag (which shall be an Acceptable Flag Jurisdiction) of each Collateral Vessel as of the Second Amendment Effective Date (after giving effect thereto) is set forth on Schedule 1.01(a). For purposes of the representation in this Section 3.23(a) with respect to any Affected Loan Party referred to on Schedule 1.01(a), representations made with reference to Schedule 1.01(a) on and after the Redomiciliation Date for such Affected Loan Party shall be made with reference to such Schedule as supplemented by the schedules appended to each Redomiciliation Transaction Certificate on such Redomiciliation Date for such Affected Loan Party. Each Collateral Vessel owned by a Loan Party is operated in compliance with all applicable Legal Requirements in all material respects. (b) Each Loan Party which owns, charters by demise or operates one or more Collateral Vessels is qualified in all material respects to own, lease or operate such Collateral Vessels under the laws of its jurisdiction of incorporation and flag jurisdiction of such Collateral Vessel. (c) Each Collateral Vessel is classed with an Approved Classification Society, free of any overdue recommendations, other than as permitted under the Collateral Vessel Mortgages related thereto. (d) As of the Second Amendment Effective Date, there is no pending or, to the knowledge of any Loan Party, threatened condemnation, confiscation, requisition, purchase, seizure or forfeiture of, or any taking of title to, any Collateral Vessel. (e) Each Collateral Vessel owned by a Loan Party is free and clear of all Liens other than Permitted Liens. (f) The use of the Collateral Vessels is in compliance with the Russian Price Cap as set forth in Section 5.21. (g) The AIS of each Collateral Vessel has been, for the six months prior to the Second Amendment Effective Date, and is operated in accordance with the Guidelines, which includes, without limitation, not manipulating, switching off or otherwise disabling such Collateral Vessel’s AIS other than in accordance with the Guidelines.
Appears in 1 contract
23Concerning Collateral Vessels. (a) The name, record owner (which record owner is a Loan Party), official number, jurisdiction of registration, build month and year and flag (which shall be an Acceptable Flag Jurisdiction) of each Collateral Vessel as of the Second Amendment Effective Closing Date (after giving effect thereto) is set forth on Schedule 1.01(a). For purposes of the representation in this Section 3.23(a) with respect to any Affected Loan Party referred to on Schedule 1.01(a), representations made with reference to Schedule 1.01(a) on and after the Redomiciliation Date for such Affected Loan Party shall be made with reference to such Schedule as supplemented by the schedules appended to each Redomiciliation Transaction Certificate on such Redomiciliation Date for such Affected Loan Party. Each Collateral Vessel owned by a Loan Party is operated in compliance with all applicable Legal Requirements in all material respects.
(b) Each Loan Party which owns, charters by demise or operates one or more Collateral Vessels is qualified in all material respects to own, lease or operate such Collateral Vessels under the laws of its jurisdiction of incorporation and flag jurisdiction of such Collateral Vessel.
(c) Each Collateral Vessel is classed with an Approved Classification Society, free of any overdue recommendations, other than as permitted under the Collateral Vessel Mortgages related thereto.
(d) As of the Second Amendment Effective Closing Date, there is no pending or, to the knowledge of any Loan Party, threatened condemnation, confiscation, requisition, purchase, seizure or forfeiture of, or any taking of title to, any Collateral Vessel.
(e) Each Collateral Vessel owned by a Loan Party is free and clear of all Liens other than Permitted Liens.
(f) The use of the Collateral Vessels is in compliance with the Russian Price Cap as set forth in Section 5.21.
(g) The AIS of each Collateral Vessel has been, for the six months prior to the Second Amendment Effective Date, and is operated in accordance with the Guidelines, which includes, without limitation, not manipulating, switching off or otherwise disabling such Collateral Vessel’s AIS other than in accordance with the Guidelines.
Appears in 1 contract