Collateral Ship definition

Collateral Ship means the Panamax-size bulk carrier of approximately 76,000 metric tons deadweight currently under construction by the Builder for, and to be purchased by, the Collateral Owner under the Shipbuilding Contract having Builder’s Hull No. H1637A and upon delivery to be registered under IMO No. 9584499 in the ownership of the Collateral Owner under the Maltese flag with the name “WOOLLOOMOOLOO”;

Collateral Ship means each of Ship F and Ship G and in the plural means both of them;

Collateral Ship means any vessel, including, without limitation, any registered or unregistered subsea or surface vessel (including but not limited to any AUV), owned by a Debtor, whether now owned or acquired or to be delivered to a Debtor in the future, whether or not such vessel is a vessel within the meaning of 46 U.S.C. §31322(a), and all rights of a Debtor therein, including all equipment, parts and accessories, including, but not limited to, all of the boilers, engines, generators, air compressors, machinery, masts, spars, sails, boats, anchors, cables, chains, fuel (to the extent owned by the Debtor), riggings, tackle, capstans, outfit, tools, pumps and pumping equipment, motors, apparel, furniture, drilling equipment, computer equipment, equipment used in connection with the operation of the vessel and belonging to the vessel, fittings and equipment, engines, appliances and fixtures for generating or distributing air, water, heat, electricity, light, fuel or refrigeration, or for ventilating or sanitary purposes, supplies, spare parts, and all other appurtenances (which appurtenances shall include, for the avoidance of doubt, any AUV related to or carried aboard a registered Collateral Ship, so long as such AUV is not capable of being registered under an Approved Jurisdiction, provided that once any such AUV is capable of registration, such AUV shall be separately registered and subject to the requirements for recordation of a “Collateral Ship Mortgage” for the purposes of this Agreement) thereunto appertaining or belonging, whether now owned or hereafter acquired, whether or not on board said vessel, and also any and all extensions, additions, accessions, improvements, renewals, substitutions and replacements hereafter made in or to said vessel or any part thereof, including all items and appurtenances aforesaid.

Examples of Collateral Ship in a sentence

• Each Debtor shall keep the relevant Collateral Ship Mortgage registered against the Collateral Ship owned by it as a valid first priority or preferred mortgage, as the case may be, carry on board that Collateral Ship a certified copy of the relevant Collateral Ship Mortgage and place and maintain in a conspicuous place in the navigation room and the master’s cabin of that Collateral Ship a framed printed notice stating that that Collateral Ship is mortgaged by that Debtor to the Agent.

• Each Debtor party to any Pre-delivery Contract shall ensure that at all times during construction, the relevant Collateral Ship is insured in accordance with the provisions of a Construction Contract.

• No Collateral Ship is subject to any Charter other than a Permitted Charter.

• No Debtor shall make any modification or repairs to, or replacement of, any Collateral Ship or equipment installed on it which would or might materially alter the structure, type or performance characteristics of that Collateral Ship or materially reduce its value.

• All Environmental Laws relating to the ownership, operation and management of each Collateral Ship and the business of each Debtor (as now conducted and as reasonably anticipated to be conducted in the future) and the terms of all Environmental Approvals have been complied with.

More Definitions of Collateral Ship

Collateral Ship means the 2010-built Capesize bulk carrier type of vessel of approximately 179,000 deadweight, having IMO Number 9519066 and registered in the name of the Collateral Guarantor under the Liberian flag with the name "LORDSHIP".

Collateral Ship means either of the Secondone Collateral Ship and the Thirdone Collateral Ship and, in the plural, means both of them;

Collateral Ship means each of XXXXXX, XXXXXX and XXXXXXXXXXXX and, in the plural, means any or all of them;

Collateral Ship means any New Ship which is registered under an Approved Flag, is the subject of a Mortgage and which the Borrower nominates as a “Collateral Ship” for the purposes of this Agreement and, in the plural, means all of them;

Collateral Ship means each Existing Collateral Ship and each other Owned Ship which is subject to a Security in favour of the Security Agent or, as the case may be, the Secured Parties as security for the repayment of moneys owing under the Finance Documents and “Collateral Ships” means any or all of them.

Collateral Ship means the 1987 built multipurpose tweendecker with retractable tweendecks of 17,101 gross registered tons and 8,600 net registered tons and named “CARIBE MAIDEN” registered in the name of the Collateral Owner under Panamanian flag;

Collateral Ship means the 2002-built 6,500 dwt (approximately) double-hull oil tanker Aegean Flower registered in the ownership of the Corporate Guarantor under the laws of the relevant Flag State with IMO number 8978394; “Commitment” means the amount which the Bank has agreed to lend to the Borrowers under clause 2.1 as reduced by any relevant term of this Agreement; “Compulsory Acquisition” means, in relation to a Ship, requisition for title or other compulsory acquisition, requisition, appropriation, expropriation, deprivation, forfeiture or confiscation for any reason of that Ship by any Government Entity or other competent authority, whether de jure or de facto, but shall exclude requisition for use or hire not involving requisition of title; “Construction Cost” means: