Common use of ISPS Code compliance Clause in Contracts

ISPS Code compliance. Procure that the Approved Manager or any Operator will: (a) maintain at all times a valid and current ISSC respect of the Vessels; (b) immediately notify the Bank in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the ISSC in respect of the Vessels; and (c) procure that the Vessels will comply at all times with the ISPS Code;

Appears in 1 contract

Sources: Loan Agreement (FreeSeas Inc.)

ISPS Code compliance. Procure that the Approved Manager or any Operator will: (a) maintain at all times a valid and current ISSC respect of the VesselsVessel; (b) immediately notify the Bank in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the ISSC in respect of the VesselsVessel; and (c) procure that the Vessels Vessel will comply at all times with the ISPS Code;

Appears in 1 contract

Sources: Credit Agreement (Paragon Shipping Inc.)

ISPS Code compliance. Procure that the Approved Manager or any Operator will: (a) maintain at all times a valid and current ISSC respect of the VesselsVessel; (b) immediately notify the Bank in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the ISSC in respect of the VesselsVessel; and (c) procure that the Vessels Vessel will comply at all times with the ISPS Code;

Appears in 1 contract

Sources: Loan Agreement (FreeSeas Inc.)

ISPS Code compliance. Procure that the Approved Manager or any Operator will: (a) maintain at all times a valid and current ISSC respect of the VesselsVessel; (b) immediately notify the Bank in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the ISSC in respect of the VesselsVessel; and (c) procure that the Vessels will comply at all times with the ISPS Code;

Appears in 1 contract

Sources: Loan Agreement (Top Ships Inc.)

ISPS Code compliance. Procure that the Approved Manager or any Operator will: (a) maintain at all times a valid and current ISSC respect of the VesselsVessel; (b) immediately notify the Bank in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the ISSC in respect of the VesselsVessel; and (c) procure that the Vessels will comply at all times with the ISPS Code;8.13 Know your customer and money laundering compliance

Appears in 1 contract

Sources: Loan Agreement (NewLead Holdings Ltd.)

ISPS Code compliance. Procure procure that the Approved Manager Managing Companies or any Operator willwill throughout the Security period: (ai) maintain at all times a valid and current ISSC respect of the Vesselseach Vessel; (bii) immediately notify the Bank in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the ISSC in respect of the Vesselseach Vessel; and (ci) procure that the Vessels each Vessel will comply at all times with the ISPS Code;.

Appears in 1 contract

Sources: Loan Agreement (Poseidon Containers Holdings Corp.)