Compliance with ISM Code and ISPS Code Sample Clauses
The 'Compliance with ISM Code and ISPS Code' clause requires that the vessel and its operators adhere to the International Safety Management (ISM) Code and the International Ship and Port Facility Security (ISPS) Code. This means the ship must maintain valid safety management and security certificates, and the crew must follow established procedures for safe operation and security measures. By mandating compliance, the clause ensures that the vessel meets international safety and security standards, thereby reducing risks related to accidents, security breaches, and regulatory penalties.
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Compliance with ISM Code and ISPS Code. Each of the Borrowers’ and their respective Subsidiaries’ vessels complies with the requirements of the ISM Code and the ISPS Code in all material respects including (but not limited to) the maintenance and renewal of valid certificates pursuant thereto.
Compliance with ISM Code and ISPS Code. Each Vessel and Chartered Vessel owned, leased or operated by a Restricted Party complies with the requirements of the ISM Code and the ISPS Code in all material respects, including the maintenance and renewal of valid certificates pursuant thereto.
Compliance with ISM Code and ISPS Code. Any Borrower or the Manager fails or omits to comply with the requirements of the ISM Code and the ISPS Code and/or fails to obtain and maintain a Document of Compliance thereunder and a Safety Management Certificate in respect of any Vessel.
Compliance with ISM Code and ISPS Code procure that the Manager and any Operator:
Compliance with ISM Code and ISPS Code. Upon the Shell Commencement Date, the Vessel and its respective Operator will comply with, to the extent applicable, with the requirements of the ISM Code, and the ISPS Code including (but not limited to) the maintenance and renewal of valid certificates pursuant thereto.
Compliance with ISM Code and ISPS Code will procure that the Manager and any Operator:
(i) will comply with and ensure that each Vessel and any Operator complies with the requirements of the ISM Code, including (but not limited to) the maintenance and renewal of valid certificates pursuant thereto throughout the Security Period;
(ii) immediately inform the Bank if there is any threatened or actual withdrawal of the Borrowers’, the Manager’s or an Operator’s DOC or the SMC in respect of the Vessels (or any of them); and
(iii) promptly inform the Bank upon the issue to the Borrowers (or any of them), the Manager or any Operator of a DOC and to any of the Vessels of an SMC or the receipt by the Borrowers (or any of them), the Manager or any Operator of notification that its application for the same has been realised; and
(iv) (aa) will maintain at all times a valid and current ISSC in respect of each Vessel, (bb) immediately notify the Bank in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the ISSC in respect of any Vessel and (cc) procure that each Vessel will comply at all times with the ISPS Code.
Compliance with ISM Code and ISPS Code will procure that each Manager and any Operator:
(a) will comply with and ensure that each Mortgaged Ship and any Operator complies with the requirements of the ISM Code, including (but not limited to) the maintenance and renewal of valid certificates pursuant thereto throughout the Security Period;
(b) immediately inform the Agent if there is any threatened or actual withdrawal of the Owners’, the Managers’ or an Operator’s DOC or the SMC in respect of any Mortgaged Ship; and
(c) promptly inform the Agent upon the issue to the any Owner, any Manager or any Operator of a DOC and to any Mortgaged Ship of an SMC or the receipt by any Owner, any Manager or any Operator of notification that its application for the same has been refused; and
(i) will maintain at all times a valid and current ISSC in respect of each Mortgaged Ship, (ii) immediately notify the Agent in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the ISSC in respect of any Ship and (iii) procure that each Ship will comply at all times with the ISPS Code.
Compliance with ISM Code and ISPS Code the Operator and the Ships have complied at all times with the ISM Code and the ISPS Code;
Compliance with ISM Code and ISPS Code. Upon the Delivery Date, the Vessel and its respective Operator will comply with, to the extent applicable, with the requirements of the ISM Code, and the ISPS Code including (but not limited to) the maintenance and renewal of valid certificates pursuant thereto;
Compliance with ISM Code and ISPS Code. Each of the Borrowers' and Subsidiaries' vessels and each Operator thereof complies with the requirements of the ISM Code and the ISPS Code in all material respects including (but not limited to) the maintenance and renewal of valid certificates pursuant thereto; Threatened Withdrawal of DOC, SMC or ISSC. There is no actual or, to the best of the Borrowers' knowledge, threatened withdrawal of any Operator's DOC or SMC or of the ISSC in respect of any of the Borrowers' or Subsidiaries' vessels; Payment Free of Taxes. On the date hereof, all payments made or required to be made by the Borrowers under or pursuant to this Agreement and the Notes can be made free and clear of, and without deduction or withholding for an account of, any Taxes; No Material Adverse Change. Since September 30, 2004 with respect to OSG and the Subsidiaries, there has been no Material Adverse Change;