Reflagging Sample Clauses

Reflagging. 12.5.1 The Lessor may require the Lessee (at its cost and expense) to re-register the Ship under the laws and flag of any other state or jurisdiction (including, but not limited to, the Approved Flag States referred to in clause 12.3 above) in the event that (a) it becomes unlawful, impossible, impracticable or (in the opinion of the Lessor, acting in good faith) undesirable (including, without limitation, by reason of change of legal or political circumstances) for the Lessor to continue to be registered as the owner of the Ship under the laws and flag of its then current register or (b) if classification inspections for vessels registered under the laws and flag of the state in which the Ship is registered at the relevant time are no longer undertaken by a classification society which is a member of IACS.
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Reflagging. (a) The Borrower hereby informs the Administrative Agent that, at or after the consummation of the Transaction but in any event no later than within one (1) calendar year after the date hereof, the Vessel may be reflagged in Liberia (the “Vessel Reflagging”).
Sample 1
Reflagging. The Borrower hereby requests that, at or after the consummation of the Merger, the Vessel may be reflagged in Liberia (the “Vessel Reflagging”). The undersigned Lenders hereby consent to the Vessel Reflagging at any time within one (1) calendar year after the date hereof, provided that the Borrower shall deliver to the Agent (i) copies of such documents and instruments as are necessary to evidence the reflagging of the Vessel in Liberia promptly after receipt thereof and (ii) prior to giving effect to the Vessel Reflagging, any Security Documents, including a first preferred Liberian mortgage over the Vessel, and documents related thereto as the Agent shall reasonably require with respect to the Vessel, such Security Documents, first preferred Liberian mortgage over the Vessel, and documents related thereto to be in such form and substance as is satisfactory to the Security Trustee. Upon receipt by the Agent of written notice from the Borrower of the consummation of the Vessel Reflagging, the Existing Agreement (as amended hereby), the Notes and each Security Document (other than the Mortgage) shall be automatically amended without any further action by any party thereto to reflect the Vessel Reflagging. The undersigned Lenders hereby agree that the Vessel Reflagging shall not result in an Event of Default under the Existing Agreement, any Notes or any of the Security Documents.
Sample 1
Reflagging. (a) The Company shall not and shall not permit any Guarantor to change the state of registration of a Collateral Vessel from its state of registration as of the Issue Date (or as of the date it becomes a Collateral Vessel, if later) to any other jurisdiction; provided that the state of registration of any Collateral Vessel may be changed to an Approved Flag State if:
Sample 1
Reflagging. The Borrowers shall not change the registration or flag of any Collateral Vessels from the registry of the Republic of Liberia or another Approved Flag State without the prior written consent of the Majority Lenders.
Sample 1

Related to Reflagging

  • Chartering not without the prior written consent of the Mortgagee (which the Mortgagee shall have full liberty to withhold) and, if such consent is given, only subject to such conditions as the Mortgagee may impose, to let the Ship:

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