Common use of ISPS Code compliance Clause in Contracts

ISPS Code compliance. (i) evidence satisfactory to the Lender that the Vessel is subject to a ship security plan which complies with the ISPS Code (such as proof that a security plan has been submitted to the recognized organisation for approval); and (ii) a copy, certified as a true and complete copy of the ISSC for the Vessel delivered to the Lender upon its issuance;

Appears in 2 contracts

Sources: Loan Agreement (Performance Shipping Inc.), Loan Agreement (Performance Shipping Inc.)

ISPS Code compliance. (ia) evidence satisfactory to the Lender Agent that the Vessel each Collateral Ship is subject to a ship security plan which complies with the ISPS Code (such as proof that a security plan has been submitted to the recognized organisation for approval)Code; and (iib) a copy, certified (in a certificate dated no earlier than five (5) Banking Days prior to the Drawdown Date of the relevant First Advance) as a true and complete copy by an officer of the relevant Collateral Guarantor of the ISSC for the Vessel delivered to the Lender upon its issuanceeach Collateral Ship;

Appears in 1 contract

Sources: Loan Agreement (Quintana Shipping Ltd.)

ISPS Code compliance. (i) evidence satisfactory to the Lender that the Vessel is subject to a ship security plan which complies with the ISPS Code (such as proof that a security plan has been submitted to the recognized organisation for approval); and (ii) a copy, certified as a true and complete copy of the ISSC for the Vessel delivered to the Lender upon its issuanceon the Drawdown Date;

Appears in 1 contract

Sources: Loan Agreement (Pangaea Logistics Solutions Ltd.)

ISPS Code compliance. (ia) evidence satisfactory to the Lender Agent that the Vessel Ship is subject to a ship security plan which complies with the ISPS Code (such as proof that a security plan has been submitted to the recognized organisation for approval)Code; and (iib) a copy, certified as a true and complete copy of the ISSC for the Vessel delivered to Ship and the Lender upon its issuancecontinuous synopsis record required by the ISPS Code in respect of the Ship;

Appears in 1 contract

Sources: Loan Agreement (DryShips Inc.)

ISPS Code compliance. (ia) evidence satisfactory to the Lender Agent that the Vessel Ship relevant to such Delivery Advance is subject to a ship security plan which complies with the ISPS Code (such as proof that a security plan has been submitted to the recognized organisation for approval)Code; and (iib) a copy, certified (in a certificate dated no earlier than five (5) Banking Days prior to the Drawdown Date of such Delivery Advance) as a true and complete copy by an officer of the relevant Borrower of the ISSC for the Vessel delivered to the Lender upon its issuancesuch Ship (or an application in respect thereof);

Appears in 1 contract

Sources: Second Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

ISPS Code compliance. (ia) evidence satisfactory to the Lender Agent that the Vessel Relevant Ship is subject to a ship security plan which complies with the ISPS Code (such as proof that a security plan has been submitted to the recognized organisation for approval)Code; and (iib) a copy, copy certified (in a certificate dated no earlier than five (5) Banking Days prior to the Drawdown Date of the Relevant Advance) as a true and complete copy by an officer of the relevant Borrower of the ISSC for the Vessel delivered to Relevant Ship and the Lender upon its issuance;continuous synopsis record required by the ISPS Code in respect of the Relevant Ship:

Appears in 1 contract

Sources: Supplemental Agreement (Diana Shipping Inc.)

ISPS Code compliance. (i) evidence satisfactory to the Lender that the each Vessel is subject to a ship security plan which complies with the ISPS Code (such as proof that a security plan has been submitted to the recognized organisation for approval); and (ii) a copy, certified as a true and complete copy of the ISSC for the each Vessel delivered to the Lender upon its issuance;

Appears in 1 contract

Sources: Loan Agreement (Imperial Petroleum Inc./Marshall Islands)