Common use of Ship status Clause in Contracts

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.

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 StateApproved Flag; (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 Approved Classification free of any all overdue requirements and recommendations of the relevant Classification SocietySociety affecting class; and (d) on the first day of its Mortgage Period and insured in the manner required by the Finance Documents.