Vessel Classification. The Vessel is or will be as of the Delivery Date, classified in the highest class available for vessels of its age and type with a classification society listed on Schedule 8.21 hereto or another internationally recognized classification society reasonably acceptable to the Collateral Agent, free of any overdue conditions or recommendations.
Vessel Classification. Each Mortgaged Vessel is or will be, classified in the highest class available for vessels of its age and type with a classification society listed on Schedule X hereto or another internationally recognized classification society acceptable to the Collateral Agent, free of any conditions or recommendations, other than as permitted, or will be permitted, under the Vessel Mortgage.
Vessel Classification. Each of the Owned Vessels is classed by a classification society which is a full member of the International Association of Classification Societies and such Owned Vessels are in class with valid class and trading certificates, without overdue recommendations, in each case based on the classification and certification requirements in effect on the date hereof.
Vessel Classification. Keep and cause to be kept each Vessel owned by it in a good and efficient state of repair so as to maintain her present class with its Classification Society and so as to comply with the provisions of all laws, regulations and requirements (statutory or otherwise) from time to time applicable to vessels registered under the laws of the relevant Designated Jurisdiction, procure that each such Vessel’s Classification Society make available to the Security Trustee, upon its request, such information and documents in respect of such Vessel as are maintained in the records of such Classification Society, and procure that all repairs to or replacements of any damaged, worn or lost parts or equipment be effected in such manner (both as regards workmanship and quality of materials) as not to diminish the value of each such Vessel;
Vessel Classification. Except (a) as permitted by the laws and/or regulations of the relevant flag state or (b) with respect to a Vessel that has been laid-up in accordance with Section 6.20(c) of this Agreement, each Vessel is classified in the highest classification and rating for vessels of the same age and type with the respective classification society set forth in Schedule 4.20, without any conditions or recommendations affecting class other than those for which the time prescribed for curing the condition or recommendation has not passed.
Vessel Classification. Each Mortgaged Vessel is classified with a classification society listed on Schedule III hereto or another internationally recognized classification society reasonably acceptable to the Administrative Agent and the Required Lenders, free of any conditions or recommendations, other than as permitted, or will be permitted, under the Vessel Mortgages.
Vessel Classification. Each Vessel is classified in the classification and rating for vessels of the same age and type with the respective classification society set forth in Schedule 4.19, free of notices, recommendations or qualifications which negatively affect such classification other than as disclosed to the Agent.
Vessel Classification. The Vessel is classified in the highest classification and rating for vessels of the same age and type with Det norske Veritas, without any conditions or recommendations affecting class other than those for which the time prescribed for curing the condition or recommendation has not passed.
Vessel Classification. At the time of the consummation of the respective Vessel Acquisition, and thereafter, each Mortgaged Vessel and each Second Priority Existing Mortgaged Vessel is or will be, classified in the highest class available for vessels of its age and type with a classification society listed on Schedule X hereto or another internationally recognized classification society acceptable to the Collateral Agent, free of any conditions or recommendations, other than as permitted, or will be permitted, under the First Priority Vessel Mortgage and Second Priority Existing Vessel Mortgages related thereto.
Vessel Classification. At the time of the Initial Extension of Credit, and thereafter, each Mortgaged Vessel shall comply with the provisions of the applicable Vessel Mortgage regarding classification.
