Common use of Vessel Documentation Clause in Contracts

Vessel Documentation. The Administrative Agent shall have received on or before the Delivery Date: (i) certificates of ownership and class (with the appropriate notations) from the appropriate authorities showing the registered ownership of each Term Loan Vessel and the classification status thereof from an Acceptable Classification Society indicating that such Term Loan Vessel meets the criteria specified in Section 7.14(c); (ii) results of maritime registry searches with respect to the Term Loan Vessel (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 Term Loan Vessel and (iv) immediately after the registration of the Collateral Vessel Mortgage over the applicable Term Loan Vessel, a certificate of ownership and encumbrance or, as applicable, the transcript of registry with respect to such Term 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 Term Loan Vessel, 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 Term Loan Vessel; (vi) certified copies of all agreements related to the technical and commercial management of the applicable Term Loan 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 the applicable Term Loan Vessel; and

Vessel Documentation. The Administrative Agent shall have received on or before the Delivery Date: (i) certificates of ownership and class (with the appropriate notations) from the appropriate authorities showing the registered ownership of each Term Revolving Loan Vessel and the classification status thereof from an Acceptable Classification Society indicating that such Term Loan Collateral Vessel meets the criteria specified in Section 7.14(c); (ii) results of maritime registry searches with respect to the Term Revolving Loan Vessel 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 Term Revolving Loan Vessel and Vessel; (iv) immediately after the registration of the Collateral Vessel Mortgage over the applicable Term Loan Collateral Vessel, a certificate of ownership and encumbrance or, as applicable, the transcript of registry with respect to such Term 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 Term Revolving Loan VesselVessels, 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 Term Revolving Loan Vessel; (vi) certified copies of all agreements related to the technical and commercial management of the applicable Term Loan 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 the applicable Term each Revolving Loan Vessel; and