Ship status Clause Samples
Ship status. Each Ship will on the first day of the relevant Mortgage Period be:
(a) registered in the name of the relevant Owner through the relevant Registry as a ship under the laws and flag of the relevant Flag State;
(b) operationally seaworthy and in every way fit for service;
(c) classed with the relevant Classification with the highest class free of all overdue requirements and recommendations or adverse notations of the relevant Classification Society; and
(d) insured in the manner required by the Finance Documents.
Ship status. Each Ship is:
(a) on the date of this Agreement permanently registered in the name of the relevant Owner through the relevant Registry as a ship under the laws and flag of the relevant Flag State;
(b) on the date of this Agreement operationally seaworthy and in every way fit for service;
(c) on the date of this Agreement classed with the relevant Classification free of any overdue requirements and recommendations of the relevant Classification Society; and
(d) on the first day of its Mortgage Period insured in the manner required by the Finance Documents.