Fleet Vessels Sample Clauses

Fleet Vessels. The fair market value of a Fleet Vessel (other than the Vessel and the Other Vessel) shall be determined for any other Fleet Vessel (other than the Vessel and the Other Vessel), pursuant to any required methodology pursuant to any contractual obligation addressing the manner in which such other Fleet Vessel is to be appraised or valued (or if there is no such other required methodology, in a manner mutually acceptable to the Borrower and the Agent). Notwithstanding the terms contained in Clause 10.15.1(b) above, all valuations of the Vessel, the Other Vessel or any Fleet Vessel shall be made on a “desk-top” basis and on the basis of a charter-free sale for prompt delivery for cash at arm’s length, on normal commercial terms as between a willing buyer and a willing seller. All valuations of the Vessel shall be addressed to the Agent and all Approved Shipbrokers shall be appointed by, and reporting to the Agent.
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Fleet Vessels. The fair market value of a Fleet Vessel (other than a Vessel) shall be determined (i) for any Fleet Vessel which is financed under the Nordea Loan Agreement, as the arithmetic average of the fair market values of such Fleet Vessel on an individual charter free basis as set forth on the Appraisals (as such term is defined in the Nordea Loan Agreement) of at least two (2) Approved Appraisers (as such term is defined in the Nordea Loan Agreement) most recently delivered to, or obtained by the Administrative Agent (as such term is defined in the Nordea Loan Agreement) prior to such time in accordance with section 8.01 (c) of the Nordea Loan Agreement and (ii) for any other Fleet Vessel (other than a Vessel), the relevant value calculated pursuant to any required methodology pursuant to any contractual obligation addressing the manner in which such other Fleet Vessel is to be appraised or valued (or if there is no such other required methodology, in a manner mutually acceptable to the Borrowers and the Agent). Notwithstanding the terms contained in Clause 10.14.1 (b) above, all valuations of any Vessel or any Fleet Vessel shall be made on a "desk-top" basis and on the basis of a charter-free sale for prompt delivery for cash at arm’s length, on normal commercial terms as between a willing buyer and a willing seller. All valuations of any Vessel shall be addressed to the Agent and all Approved Shipbrokers shall be appointed by, and reporting to the Agent.
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Fleet Vessels. The fair market value of a Fleet Vessel (other than a Vessel) shall be determined pursuant to any required methodology pursuant to any contractual obligation addressing the manner in which such Fleet Vessel is to be appraised or valued (or if there is no such other required methodology, in a manner mutually acceptable to the Borrowers and the Agent)."
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Fleet Vessels. Valuations Notwithstanding the terms contained in Clause 17.15 (Fleet Vessels), all valuations of any Fleet Vessel shall be made on the basis of a charter-free sale for prompt delivery for cash at arm’s length, on normal commercial terms as between a willing buyer and a willing seller by an Approved Shipbroker or such approved shipbrokers as defined in other loan facilities to the Guarantor or any other member of the Group.
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Related to Fleet Vessels

  • Vessels Each Vessel is

  • Spares/bunkers, etc The Sellers shall deliver the Vessel to the Buyers with everything belonging to her on board and on shore. All spare parts and spare equipment including spare tail-end shaft(s) and/or spare propeller(s)/propeller blade(s), if any, belonging to the Vessel at the time of inspection used or unused, whether on board or not shall become the Buyers' property, but spares on order are to be excluded. Forwarding charges, if any, shall be for the Buyers' account. The Sellers are not required to replace spare parts including spare tail-end shaft(s) and spare propeller(s)/propeller blade(s) which are taken out of spare and used as replacement prior to delivery, but the replaced items shall be the property of the Buyers. The radio installation and navigational equipment shall be included in the sale without extra payment if they are the property of the Sellers. Unused stores and provisions shall be included in the sale and be taken over by the Buyers without extra payment. The Sellers have the right to take ashore crockery, plates, cutlery, linen and other articles bearing the Sellers' flag or name, provided they replace same with similar unmarked items. Library, forms, etc., exclusively for use in the Sellers' vessel(s), shall be excluded without compensation. Captain's, Officers' and Crew's personal belongings including the slop chest are to be excluded from the sale, as well as the following additional items (including items on hire): Please see Clause 19 The Buyers bunkers are the Charterers property and are to be excluded from the sale. The shall take over the remaining bunkers and unused lubricating oils in storage tanks and sealed drums shall remain the property of the sellers. Vessel’s new managers will pay sellers for these lubricating oils at net contract price as and when they are broached and pay the current net market price (excluding barging expenses) at the port and date of delivery of the Vessel. Payment under this Clause shall be made at the same time and place and in the same currency as the Purchase Price.

  • Boiler and Machinery Insurance The Owner shall have the option of purchasing and maintaining boiler and machinery insurance required by the Contract Documents or by law, which shall specifically cover such insured objects during installation and until final acceptance by the Owner. If purchased this insurance shall include interests of the Owner, Contractor, Subcontractors and Sub-subcontrators in the Work.

  • Charters without the prior written consent of the Agent (acting on the instructions of the Lenders) and then, if such consent is given, only subject to such conditions as the Agent (acting on the instructions of the Lenders) may impose, let or agree to let any Vessel:

  • FURNITURE CLASSIFICATIONS Furniture classifications include but not limited to: Cafeteria, Dormitory, Library Shelving and Library Related, Lounge, Systems (Modular), School (Classroom), Freestanding, Seating, Filing Systems and Equipment, and Technology Support.

  • Aircraft This peril includes self-propelled missiles and spacecraft.

  • Measurements and arithmetic conventions All measurements and calculations shall be in the metric system and calculations done to 2 (two) decimal places, with the third digit of 5 (five) or above being rounded up and below 5 (five) being rounded down.

  • As-Builts Seller shall provide final as-built drawings of the Seller-Owned Interconnection Facilities within 30 Days of the successful completion of the Acceptance Test.

  • Classification Seniority Classification Seniority" is defined as the length of service in a specific job classification within the bargaining unit, beginning with the date an employee starts to serve a probationary appointment. Classification Seniority shall be interrupted only by separation because of resignation, discharge for just cause, failure to return upon expiration of a leave of absence, failure to respond to a recall from layoff, or retirement.

  • Drop Shipped Off loaded by carrier to an Agency loading dock or designated area. There will be no charge to the ordering Agency for this delivery method.

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