Classification Society Sample Clauses

Classification Society from the Classification Society certifying that the scheduled construction milestones under the Shipbuilding Contract have been completed and that the instalment to be financed by the proposed Loan is due to the Builder.

Classification Society undertaking If so requested by the Agent, on or before the relevant Delivery Date, or immediately on any change of Classification Society for either Vessel, irrevocably instruct (in such form as the Agent and the Majority Lenders may require in their sole discretion) the Classification Society of each Vessel to do all or any of the following during the Facility Period (and use reasonable endeavours to procure that the Classification Society undertakes with the Agent at such time): (a) to send to the Agent, following receipt of a written request from the Agent, certified true copies of all original class records held by the Classification Society in relation to that Vessel; (b) to allow the Agent (or its agents), at any time and from time to time, to inspect the original class and related records of the relevant Owner and that Vessel at the offices of the Classification Society and to take copies of them; (c) to notify the Agent immediately if the Classification Society: (i) receives notification from the relevant Owner or any person that that Vessel’s Classification Society is to be changed; (ii) becomes aware of any facts or matters which may result in or have resulted in a change, suspension, discontinuance, withdrawal or expiry of that Vessel’s class under the rules or terms and conditions of that Owner’s or that Vessel’s membership of the classification society; or (iii) has imposed any requirements or recommendations in respect of the relevant Vessel (other than those which have been or are being complied with in accordance with their terms and which are not by their terms overdue for compliance); (d) following receipt of a written request from the Agent: (i) to confirm that the relevant Owner is not in default of any of its contractual obligations or liabilities to the classification society and, without limiting the foregoing, that it has paid in full all fees or other charges due and payable to the classification society; or (ii) if that Owner is in default of any of its contractual obligations or liabilities to the classification society, to specify to the Agent in reasonable detail the facts and circumstances of such default, the consequences thereof, and any remedy period agreed or allowed by the classification society;

Classification Society. A certificate from the Classification Society certifying that the scheduled construction milestones under the Shipbuilding Contract have been completed and that the instalment to be financed by the proposed Loan is due to the Builder.

Classification Society the Contractor shall liaise with the vessel's Classification Society and coordinate with Classification Society surveyors to carry out all necessary plan approval and oversight, and obtain certification and classification and keep Naval Authority Certification. For surveys which require docking or other invasive work, the Contractor is to propose this to the Authority and the work will be tasked under WP2 as Emergent Work.

Classification Society. The decision of the CLASSIFICATION SOCIETY as to whether the VESSEL complies with the rules and regulations of the CLASSIFICATION SOCIETY and any technical dispute arising under this CONTRACT shall be final and binding upon the BUILDER and the BUYER, provided that in the event of a dispute the BUYER shall be entitled to have any particular decision referred to the head office of the CLASSIFICATION SOCIETY.

Classification Society without prejudice to the obligations of the Borrower under clause 8.1.7 and clause 5.1.6 of the Mortgage, irrevocably authorise and instruct the Classification Society to provide the Bank from time to time, at the Borrower's cost, with any information whatsoever which the Bank may require relating to the classification of the Vessel with the Classification Society; and

Classification Society. Following a written request by the Agent, the relevant Borrower shall instruct the relevant Classification Society to (and shall procure that such Classification Society shall undertake to the Security Agent to): (a) notify the Security Agent promptly in writing if the Classification Society: (i) receives notification that a Vessel’s classification society is to be changed; or (ii) becomes aware of any facts or matters which may result in or have resulted in a change, discontinuance, withdrawal, suspension, or expiry of a Vessel’s class under the rules or terms and conditions of such Borrower’s or a Vessel’s membership of the Classification Society; (b) following receipt of a request in writing by the Security Agent: (i) send to the Security Agent certified true copies of all original class records held by the Classification Society in relation to a Vessel and/or allow the Security Agent (or its agents) at any time to inspect the original class and related records of such ▇▇▇▇▇▇▇▇ and a Vessel at the offices of the Classification Society and to take copies of them; and (ii) confirm whether the relevant Borrower is or is not in default of any of its obligations or liabilities to the Classification Society, including confirmation on whether it has paid in full all fees or other charges due and payable to the Classification Society and, if that Borrower is in default, to specify in reasonable detail the facts and circumstances of such default, the consequences of such default, and any remedy period agreed or allowed by the Classification Society, provided that no breach of this Clause shall result in relation to a condition or recommendation of class or required works or repairs existing at the date of delivery under the relevant MOA provided that the same is remedied and repaired on or before 1 January 2020.