Classification Society definition

Classification Society or “Class” means the Society referred to in line 4.
Classification Society means, in relation to each Vessel, any IACS classification society which the Lenders shall, at the request of the Borrowers, have agreed in writing shall be treated as the classification society in relation to such Vessel for the purposes of the relevant Ship Security Documents;
Classification Society means the Society referred to above.

Examples of Classification Society in a sentence

Vessel's Classification - Rules and Regulations - Certificates 2.1 The Vessel will be built under the survey of Lloyd's Register of Shipping (the "Classification Society") and to Rules and Regulations of Lloyd's Register of Shipping for the Class "+ 100 A1 + LMC, UMS, Passenger Ship Unrestricted Service, Underwater Survey".


More Definitions of Classification Society

Classification Society means, in relation to a Ship, the classification society specified in respect of such Ship in Schedule 2 (Ship information) or another classification society (being a member of the International Association of Classification Societies (IACS) or, if such association no longer exists, any similar association nominated by the Agent) approved by the Majority Lenders as its Classification Society, at the request of the relevant Owner.
Classification Society means the American Bureau of Shipping or such other classification society which is a member of the International Association of Classification Societies and which the Agent shall at the Borrower’s request have agreed in writing shall be treated as the Classification Society for the Vessel for the purpose of the Security Documents.
Classification Society or “Class” means the Society referred to in line 4. 15
Classification Society means, in respect of any Mortgaged Vessel, Bureau Veritas, the American Bureau of Shipping, Lloyd’s Register of Shipping, Det norske Veritas, or such other classification society that is a member of the International Association of Classification Societies (IACS) as selected by the Company that is reasonably acceptable to the Administrative Agent.
Classification Society means, in relation to a Ship, such classification society (being a member of the International Association of Classification Societies ("IACS")) which the Bank shall, at the request of an Owner, agree in writing shall be treated as the Classification Society in relation to such Owner's Ship for the purposes of the relevant Ship Security Documents;
Classification Society means a member of the International Association of Classification Societies with whom the Vessels are entered and who conducted periodic physical surveys and/or inspections of the Vessels;
Classification Society means, in relation to each Ship, Lloyd's Register of Shipping or such other classification society which the Agent shall, at the request of a Borrower, have agreed in writing shall be treated as the Classification Society in relation to such Borrower's Ship for the purposes of the relevant Ship Security Documents;