Vessel Documentation. LICENSEE warrants that the Vessel is properly documented and registered in the State of California, and that the Vessel is in compliance with all applicable California and U.S. Coast Guard safety regulations.
Vessel Documentation. Buyer shall cause all of the Property that is a documented vessel under federal law to be redocumented in its name with the United States Coast Guard within two (2) days of the Closing.
Vessel Documentation. The Loan Parties shall cause all Vessels owned by a Loan Party to be documented with the U.S. Coast Guard (including promptly commencing documentation of any Vessel not documented as of the Closing Date or when acquired) other than Vessels that (i) are obsolete as of the Closing Date, (ii) are scheduled for scrap as of the Closing Date or (iii) have a fair market value of less than $5,000,000 in the aggregate as of the Closing Date or during the term this Agreement.
Vessel Documentation. The Administrative Agent shall have received (i) certificates of ownership and class (with the appropriate notations) from the appropriate authorities showing the registered ownership of each Revolving Loan Vessel and the classification status thereof from an Acceptable Classification Society indicating that such Collateral Vessel meets the criteria specified in Section 7.14(c); (ii) results of maritime registry searches with respect to the Revolving Loan Vessels (which results shall be acceptable to the Administrative Agent), (iii) a certificate of ownership and encumbrance or, as applicable, the transcript of registry with respect to such Revolving Loan Vessel; (iv) immediately after the registration of the Collateral Vessel Mortgage over the applicable Collateral Vessel, a certificate of ownership and encumbrance or, as applicable, the transcript of registry with respect to such Revolving Loan Vessel indicating no record liens other than Liens in favor of the Security Agent and/or the Lenders and Permitted Liens; (v) a report, in form and scope acceptable to the Administrative Agent, from a reputable insurance consultant appointed by the Administrative Agent with respect to the insurance maintained in respect of the Revolving Loan Vessels, together with a certificate from insurance brokers acceptable to the Administrative Agent certifying that such insurances (a) are placed with such insurance companies and/or underwriters and/or clubs, in such amounts, against such risks, and in such form, as is acceptable to the Administrative Agent and (b) conform with requirements of the Required Insurances and the Collateral Vessel Mortgage taken for the benefit of the Lenders in the respective Revolving Loan Vessel; (vi) certified copies of all agreements related to the technical and commercial management of each Collateral Vessel to which the Borrower or a Subsidiary Guarantor is a party; and (vii) certified copies of all ISM Code and ISPS Code documentation for each Revolving Loan Vessel; and
Vessel Documentation. Shipowner covenants that it will keep the Vessel documented in its name as a Bahamian ship and will not do or allow to be done anything whereby such documentation may be forfeited or imperiled; provided, however, Shipowner may change the Flag State authority for the Vessel from the Bahamas to the Xxxxxxxx Islands or any other comparable jurisdiction that affords Shipowner the appropriate rights to operate in the ordinary course of business and otherwise in compliance with the Security Documents so long as Shipowner (i) provides prior written notice to Mortgagee, (ii) pays for any expenses related to any necessary changes in the Security Documents or re-registration or filing thereof resulting from such change of jurisdiction as determined by Mortgagee, and (iii) such does not impair or otherwise adversely impact the rights of Mortgagee under any of the Security Documents, the interest of Mortgagee in the Vessel or any other collateral provided under any of the Security Documents, or the obligations of Shipowner under any Security Document, and, if the jurisdiction of incorporation is so changed, Shipowner covenants that it will keep the Vessel documented in its name as a ship under the laws of such new Flag State and will not do or allow to be done anything whereby such documentation may be forfeited or imperiled. Likewise, Shipowner shall not change the Classification Society for the Vessel without consent of Mortgagee, which consent shall not be unreasonably withheld.
Vessel Documentation. Upon the Delivery Date and continuing at all times thereafter, each Vessel is and shall remain documented under the laws of the United States.
Vessel Documentation. As of the Closing Date, the Vessel is documented under the laws of the United States.
Vessel Documentation. The Lender shall have received or verified all of the following with respect to the applicable Vessel:
Vessel Documentation. A. Every vessel entering the Harbor must be registered and numbered as required by the USCG or by the Laws of the State of California or the State in which it is registered.
Vessel Documentation. The Security Trustee shall have received (in form and substance reasonably acceptable to the Security Trustee):
