Compliance with the ISM Code Sample Clauses
The 'Compliance with the ISM Code' clause requires that the parties involved, typically shipowners or operators, adhere to the International Safety Management (ISM) Code, which sets standards for the safe management and operation of ships. This means that vessels must maintain valid ISM certification and follow safety management procedures, such as regular audits and documentation of safety practices. By mandating compliance, the clause ensures that ships operate safely and legally, reducing the risk of accidents and regulatory penalties.
Compliance with the ISM Code. Procure that the Approved Manager and any Operator:
(a) will comply with and ensure that the Vessel and any Operator by no later than the Drawdown Date 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 Bank if there is any threatened or actual withdrawal of the Borrower's, the Approved Manager's or an Operator's DOC or the SMC in respect of the Vessel; and
(c) promptly inform the Bank upon the issue to the Borrower, the Approved Manager or any Operator of a DOC and to the Vessel of an SMC or the receipt by the Borrower, the Approved Manager or any Operator of notification that its application for the same has been realised.
Compliance with the ISM Code. The Owner covenants to procure that any Operator will:
(a) comply with and ensure that the Vessel and any Operator always 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 Mortgagee if there is any threatened or actual withdrawal of the Owner’s or any Operator’s or DOC or the SMC in respect of the Vessel; and
(c) promptly inform the Mortgagee upon the issue to the Owner or any Operator of a DOC and to the Vessel of an SMC or the receipt by the Owner or any Operator of notification that its application for the same has been realised;
Compliance with the ISM Code each Vessel and the Operator complies with the requirements of the ISM Code and the SMC which has been be issued in respect of each relevant Vessel shall remain valid throughout the Security Period;
Compliance with the ISM Code the Vessel and any Operator complies or will on the drawdown of the Commitment (or any part thereof) comply with the requirements of the ISM Code;