Compulsory Acquisition definition

Compulsory Acquisition means requisition for title or other compulsory acquisition, requisition, appropriation, expropriation, deprivation, forfeiture or confiscation for any reason of the 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;

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Compulsory Acquisition means requisition of title or other compulsory acquisition, capture, seizure, deprivation, confiscation or detention for any reason of the Aircraft, the Airframe or any Engine by any government that results in the loss of title or use of the Aircraft, the Airframe or any Engine by Company (or any Permitted Lessee) for a period in excess of 180 consecutive days, but shall exclude requisition for use or hire not involving requisition of title.

Compulsory Acquisition has the meaning set out in Section 2.5;

Examples of Compulsory Acquisition in a sentence

• Section 10.3 Compulsory Acquisition Compensation; shall be applied by it in accordance with Section 4.05 of the Credit Agreement.

• The Lessor shall be under no obligation to provide to the Lessee, or to any other person, any replacement for the Ship or any part thereof should the Ship or any part thereof be lost, damaged, the subject of Compulsory Acquisition, seized, or requisitioned for hire or use, nor shall the Lessor have any liability or responsibility whatsoever in respect thereof (unless and to the extent that the same results from any Lessor Breach.

• In the event of the Compulsory Acquisition of the Ship after Delivery, all Requisition Compensation received by the Lessor shall be applied by the Lessor (or, if received by the Lessee, shall be held in trust by the Lessee for application) in accordance with clause 22.5.

• If the Ship becomes a Total Loss after the Delivery Date, on the Total Loss Payment Date the Lessee will pay to the Lessor the amounts pursuant to and determined in accordance with clause 18.4. Any Total Loss Proceeds or any Requisition Compensation actually and unconditionally received by the Lessor following a Total Loss or Compulsory Acquisition will be applied in accordance with clause 14.3.

• Prior to the completion of the Compulsory Acquisition (or BidCo otherwise owning all of the issued and outstanding Target Ordinary Shares) the Loan Parties may, at their discretion, complete Steps 2 to 4 or, with the approval of the Administrative Agent, complete a different portion of the reorganization steps described on Schedule 1.02.

More Definitions of Compulsory Acquisition

Compulsory Acquisition means, in respect of a Mortgaged Vessel, requisition for title or other compulsory acquisition including, if that ship is not released therefrom within the Relevant Period, capture, appropriation, forfeiture, seizure, detention, deprivation or confiscation howsoever for any reason (but excluding requisition for use or hire) by or on behalf of any Government Entity or other competent authority or by pirates, hijackers, terrorists or similar persons; “Relevant Period” means for the purposes of this definition of Compulsory Acquisition either (i) sixty (60) days or, (ii) if relevant underwriters confirm in writing (in terms satisfactory to the Majority Lenders) prior to the end of such sixty (60) day period that such capture, seizure, detention or confiscation will be fully covered by the relevant Owner’s war risks insurance if continuing for a further period exceeding ten (10) calendar months, the shorter of twelve (12) months and such period at the end of which cover is confirmed to attach;

Compulsory Acquisition means, in respect of a Vessel, requisition for title or other compulsory acquisition including, if that ship is not released therefrom within the Relevant Period, capture, appropriation, forfeiture, seizure, detention, deprivation or confiscation howsoever for any reason (but excluding requisition for use or hire) by or on behalf of any Government Entity or other competent authority or by pirates, hijackers, terrorists or similar persons; “Relevant Period” means for the purposes of this definition of Compulsory Acquisition either (i) ninety (90) days or, (ii) if relevant underwriters confirm in writing (in terms satisfactory to the Bank) prior to the end of such ninety (90) day period that such capture, seizure, detention or confiscation will be fully covered by the relevant Owner’s war risks insurance if continuing for a further period exceeding ten (10) calendar months, the shorter of twelve (12) months and such period at the end of which cover is confirmed to attach;

Compulsory Acquisition means, with respect to a Vessel, the requisition for title or other compulsory acquisition of such Vessel (otherwise than by requisition for hire), capture, seizure, detention or confiscation of such Vessel by any government or by Persons acting or purporting to act on behalf of any government or Governmental Authority.

Compulsory Acquisition means the compulsory acquisition of Shares from each Minority Shareholder in accordance with Section 2:92a or, if applicable, Section 2:201a of the DCC.

Compulsory Acquisition means the power of the State to deprive or acquire any title or other interest in land for a public purpose subject to prompt payment of compensation;

Compulsory Acquisition means a requisition or other compulsory acquisition (including seizure, detention, confiscation or appropriation) by or on behalf of any government or governmental agency or by any persons acting or purporting to act on behalf of any government or governmental agency;

Compulsory Acquisition means, in respect of a Vessel, requisition for title or other compulsory acquisition including, if that ship is not released therefrom within the Relevant Period, capture, appropriation, forfeiture, seizure, detention, deprivation or confiscation howsoever for any reason (but excluding requisition for use or hire) by or on behalf of any Government Entity or other competent authority or by pirates, hijackers, terrorists or similar persons; “Relevant Period” means for the purposes of this definition of Compulsory Acquisition either (i) ninety (90) days or, (ii) if relevant underwriters confirm in writing (in customary terms) prior to the end of such ninety (90) day period that such capture, seizure, detention or confiscation will be covered by the relevant Owner’s war risks insurance the shorter of twelve (12) months and such period at the end of which cover is confirmed to attach;