Borrower Ship definition

Borrower Ship means each of Ship A and Ship B and, in the plural, means both of them;
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Borrower Ship means any of Ship A, Ship B, Ship C, Ship D, Ship E or Ship F
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Borrower Ship means each of the 5,500 dwt double-hull class oil tankers listed in Part B of schedule 1 under the column headed "Hull No.", each to be constructed and sold by the Builder to the relevant Borrower or Original Borrower pursuant to the relevant Contract and to be registered on the Delivery Date for such Borrower Ship in the ownership of such Borrower or Original Borrower through the relevant Registry under the laws and flag of the relevant Flag State and "Borrower Ships" means any or all of them;
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Examples of Borrower Ship in a sentence

  • The Security Trustee shall be entitled (without prejudice to or limitation of any other rights which it may have or acquire under any Finance Document) to require a Borrower Ship to remain at any safe port or to proceed to and remain at any safe port designated by the Security Trustee until the Borrower owning that Ship implements any amendments to the terms of the obligatory insurances and any operational changes required as a result of a notice served under Clause 13.18.

  • None of the Borrowers shall make any modification or repairs to, or replacement of, any Borrower Ship or equipment installed on it which would or might materially alter the structure, type or performance characteristics of that Ship or materially reduce its value.

  • Borrower grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of Bank's rights or remedies; Apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) any amount held by Bank owing to or for the credit or the account of Borrower; Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral.

  • The obligation of the Banks to make available the Delivery Advance in respect of any Borrower Ship shall be subject to the condition that the Agent or its duly authorised representative shall have received, on or prior to the drawdown of the Delivery Advance for such Borrower Ship, the documents and evidence specified in Part 4 of schedule 4 in respect of such Borrower Ship, in form and substance satisfactory to the Agent.

  • Borrower grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of Bank's rights or remedies; Apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) any amount held by Bank owing to or for the credit or the account of Borrower; Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral; and Dispose of the Collateral according to the Code.

  • The obligation of the Banks to make available the Additional Cost Advance in respect of any Borrower Ship shall be subject to the condition that the Agent or its duly authorised representative shall have received, on or prior to the drawdown of the Additional Cost Advance for such Borrower Ship, the documents and evidence specified in Part 5 of schedule 4 in respect of such Borrower Ship, in form and substance satisfactory to the Agent.

  • Each Borrower grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of Bank’s rights or remedies; Apply to the Obligations any (i) balances and deposits of any Borrower with Bank or its Affiliate it holds, or (ii) amount held by Bank owing to or for the credit or the account of any Borrower; Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral.

  • Borrower grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of Bank’s rights or remedies; Apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) any amount held by Bank owing to or for the credit or the account of Borrower; Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral.

  • Borrower grants Bank a license to enter and occupy any of its premises, without charge, to exercise any of Bank's rights or remedies; ___________________________Apply to the Obligations any (i) balances and deposits of Borrower it holds, or (ii) any amount held by Bank owing to or for the credit or the account of Borrower; ___________________________Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sale, and sell the Collateral.

  • Advances The obligation of the Banks to make available the first Contract Instalment Advance in respect of any Borrower Ship shall be subject to the condition that the Agent or its duly authorised representative shall have received, on or prior to the drawdown of the first Contract Instalment Advance for such Borrower Ship, the documents and evidence specified in Part 2 of schedule 4 in respect of such Borrower Ship, in form and substance satisfactory to the Agent.