Common use of MARAD Approval Clause in Contracts

MARAD Approval. Seller shall have delivered to Buyer from the U.S. Maritime Administration either written advice that Section 37 of the Shipping Act, 1916 (46 U.S.C. App. 835) is not operative as of the Closing Date or written approval under such statute of the transactions contemplated by this Agreement.

MARAD Approval. Seller shall have delivered to Buyer obtained from the U.S. Maritime Administration either written advice that Section 37 of the Shipping Act, 1916 (46 U.S.C. App. 835) is not operative as of the Closing Date or written approval under such statute of the transactions contemplated by this Agreement.