Class Certificate Sample Clauses

A Class Certificate clause defines the requirement for a vessel to possess and maintain a valid certificate from a recognized classification society, confirming that the vessel meets specific safety and construction standards. This clause typically applies to ships in commercial contracts, ensuring that the vessel is seaworthy and compliant with industry regulations throughout the duration of the agreement. Its core practical function is to provide assurance to all parties that the vessel is fit for its intended use, thereby reducing risks related to safety, insurance, and regulatory compliance.
Class Certificate. Furnish, or cause to be furnished, to the Agent, upon any change of a Vessel's classification status or the issuance of a recommendation affecting class by a Vessel's classification society or upon the Agent's reasonable request (to be made no more than once in any calendar year), a confirmation of class certificate covering each Vessel and evidencing compliance with the applicable provisions of the Mortgage thereon within thirty (30) days of such change or such request;
Class Certificate. A copy of the class certificate, including all annexes evidencing that each Vessel is classed to the satisfaction of the Agent free of all overdue recommendations and qualifications of the classification society;
Class Certificate. Furnish, or cause to be furnished, to the Agent, upon any change of the classification status of a Rig or the issuance of a recommendation affecting class by the classification society of a Rig or upon the reasonable request of the Agent (to be made no more than twice in any calendar year), a confirmation of class certificate covering each Rig and evidencing compliance with the Mortgage;
Class Certificate. The following establishes job seniority by certificate of qualification: 3.1. An employee who presents an official statement that he has successfully completed the modular exams for a 3rd Class Certificate shall establish his seniority on the date the document is presented to the Stationary Engineer in charge of the department, providing he has completed the required qualifying time to obtain his Stationary Engineer’s Certificate. 3.2. All new Steam hires must obtain Ontario certification for all TSSA tickets. No 60 day moves shall take place until such certification is obtained. Notwithstanding, such employees could still be assigned for training. All new hires in the Steam plant with certificates from other provinces must obtain Ontario certification within six months for TSSA tickets. All new hires with 4A and 4B exams will be given 12 months to get their TSSA tickets. 3.3. When a junior employee on the same job level submits his certificate, the senior employee shall have 60 days to produce his certificate to maintain seniority. 3.4. If there are employees at a higher job progression level with a 4th Class Certificate, the employee shall proceed to that job position after completing sixty (60) days at each successive job level in order to establish job seniority. The sixty (60) day timeframe can be reduced or increased at the discretion of the Steam Chief.
Class Certificate. The following establishes job seniority by certificate of qualification. 3.1 An employee who presents an official statement that he has successfully completed the modular exams for a 3rd Class Certificate shall establish his seniority on the date the document is presented to the Stationary Engineer in charge of the department, providing they have completed the required qualifying time to obtain his Stationary Engineer’s Certificate. 3.2 The employee with the official document (as per 3.1) shall be the senior employee over any other employee with a 4th Class certificate on that job level. 3.3 If there are employees at a higher job progression level with a 4th Class Certificate, the employee shall proceed to that job position after completing sixty (60) days at each successive job level in order to establish job seniority. NOTE: Time worked at each higher job level as a result of shift move-ups or for periods of temporary relief will not be included as time in the sixty (60) day job seniority period.
Class Certificate. Furnish, or cause to be furnished, to the Administrative Agent, upon any change of a Vessel's classification status or the issuance of a recommendation affecting class by a Vessel's classification society or upon the Administrative Agent's reasonable request (to be made no more than once in any calendar year), a confirmation of class certificate covering each Vessel and evidencing compliance with the Mortgage;

Related to Class Certificate

  • Class Certification Solely for the purposes of this Settlement, the Parties stipulate and agree to certification of the claims asserted on behalf of Class Members. As such, the Parties stipulate and agree that in order for this Settlement to occur, the Court must certify the Class as defined in this Agreement.

  • Non-Book Entry Certificate to Global Certificate If a holder of a Non-Book Entry Certificate that is a Private Certificate (other than any Risk Retention Certificate during the RR Interest Transfer Restriction Period, a Class S Certificate or a Class R Certificate) wishes at any time to exchange its interest in such Non-Book Entry Certificate for an interest in a Global Certificate of the same Class, or to transfer all or part of such Non-Book Entry Certificate to an institution that is entitled to take delivery thereof in the form of an interest in a Global Certificate, such holder may, subject to the rules and procedures of Euroclear or Clearstream, if applicable, and the Depository, cause the exchange of all or part of such Non-Book Entry Certificate for an equivalent beneficial interest in the appropriate Global Certificate of the same Class. Upon receipt by the Certificate Registrar, as registrar, at its office designated in Section 5.11 of this Agreement, of (1) such Non-Book Entry Certificate, duly endorsed as provided herein, (2) instructions from such holder directing the Certificate Registrar, as registrar, to credit, or cause to be credited, a beneficial interest in the applicable Global Certificate equal to the portion of the Certificate Balance of the Non-Book Entry Certificate to be exchanged, such instructions to contain information regarding the participant account with the Depository to be credited with such increase and (3) a certificate in the form of Exhibit I to this Agreement (in the event that the applicable Global Certificate is the Temporary Regulation S Global Certificate), in the form of Exhibit J to this Agreement (in the event that the applicable Global Certificate is the Regulation S Global Certificate) or in the form of Exhibit K to this Agreement (in the event that the applicable Global Certificate is the Rule 144A Global Certificate), then the Certificate Registrar, as registrar, shall cancel, or cause to be canceled, all or part of such Non-Book Entry Certificate, and shall, if applicable, direct the Certificate Administrator to execute, authenticate and deliver to the transferor a new Non-Book Entry Certificate equal to the aggregate Certificate Balance of the portion retained by such transferor and shall instruct the Depository to increase, or cause to be increased, such Global Certificate by the aggregate Certificate Balance of the portion of the Non-Book Entry Certificate to be exchanged and to credit, or cause to be credited, to the account of the institution specified in such instructions a beneficial interest in the applicable Global Certificate equal to the Certificate Balance of the portion of the Non-Book Entry Certificate so canceled.

  • Class R Certificates Subordinated Certificates.... Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates.

  • Annual Certificate The Custodian shall have received the initial or annual certificate, as the case may be, required by Article 13 hereof; 6)

  • Book-Entry Certificates (a) Each Class of Book-Entry Certificates, upon original issuance, shall be issued in the form of one or more typewritten Certificates representing the Book-Entry Certificates. The Book-Entry Certificates shall initially be registered on the Certificate Register in the name of the nominee of the Clearing Agency, and no Certificate Owner will receive a definitive certificate representing such Certificate Owner’s interest in the Book-Entry Certificates, except as provided in Section 3.09(c). Unless Definitive Certificates have been issued to Certificate Owners of Book-Entry Certificates pursuant to Section 3.09(c): (i) the provisions of this Section 3.09 shall be in full force and effect; (ii) the Certificate Registrar, the Securities Administrator, the Paying Agent and the Trustee shall deal with the Clearing Agency for all purposes (including the making of distributions on the Book-Entry Certificates) as the authorized representatives of the Certificate Owners and the Clearing Agency and shall be responsible for crediting the amount of such distributions to the accounts of such Persons entitled thereto, in accordance with the Clearing Agency’s normal procedures; (iii) to the extent that the provisions of this Section 3.09 conflict with any other provisions of this Agreement, the provisions of this Section 3.09 shall control; and (iv) the rights of Certificate Owners shall be exercised only through the Clearing Agency and the Clearing Agency Participants and shall be limited to those established by law and agreements between such Certificate Owners and the Clearing Agency and/or the Clearing Agency Participants. Unless and until Definitive Certificates are issued pursuant to Section 3.09(c), the initial Clearing Agency will make book-entry transfers among the Clearing Agency Participants and receive and transmit distributions of principal of and interest on the Book-Entry Certificates to such Clearing Agency Participants. (b) Whenever notice or other communication to the Certificateholders is required under this Agreement, unless and until Definitive Certificates shall have been issued to Certificate Owners pursuant to Section 3.09(c), the Securities Administrator or the Trustee, as the case may be, shall give all such notices and communications specified herein to be given to Holders of the Book-Entry Certificates to the Clearing Agency. (c) If (i) (A) the Clearing Agency or the Depositor advises the Paying Agent in writing that the Clearing Agency is no longer willing or able to discharge properly its responsibilities with respect to the Book-Entry Certificates, and (B) the Depositor is unable to locate a qualified successor satisfactory to the Depositor and the Paying Agent or (ii) after the occurrence of an Event of Default, Certificate Owners representing beneficial interests aggregating not less than 50% of the Class Principal Amount of a Class of Book-Entry Certificates advise the Paying Agent and the Clearing Agency through the Clearing Agency Participants in writing that the continuation of a book-entry system through the Clearing Agency is no longer in the best interests of the Certificate Owners of a Class of Book-Entry Certificates (each such event, a “Book-Entry Termination”), the Certificate Registrar shall notify the Clearing Agency to effect notification to all Certificate Owners, through the Clearing Agency, of the occurrence of any such event and of the availability of Definitive Certificates to Certificate Owners. Upon surrender to the Certificate Registrar of the Book-Entry Certificates by the Clearing Agency, accompanied by registration instructions from the Clearing Agency for registration, the Certificate Registrar shall issue the Definitive Certificates. None of the Depositor, the Certificate Registrar, the Securities Administrator, the Paying Agent or the Trustee shall be liable for any delay in delivery of such instructions and may conclusively rely on, and shall be protected in relying on, such instructions. Upon the issuance of Definitive Certificates all references herein to obligations imposed upon or to be performed by the Clearing Agency shall be deemed to be imposed upon and performed by the Certificate Registrar, to the extent applicable, with respect to such Definitive Certificates and the Certificate Registrar shall recognize the holders of the Definitive Certificates as Certificateholders hereunder.