Examples of Delivered Vessels in a sentence
At the Initial Closing, Seanergy shall contribute the Trust Assets to Buyer and Buyer shall pay the aggregate Vessel Purchase Price applicable to the Delivered Vessels.
The Initial Closing shall take place at a place or places mutually agreed by the parties, and, with respect to the Delivered Vessels, such Closings shall take place in accordance with the MOA relating to each such Delivered Vessel, at such other location as is agreed to in writing by the parties.
Builder further agrees that those invoices prepared by Builder and delivered to Ship-owner dated June 9, 2009 with respect to the Delivered Vessels [Hulls 128 and 129] and dated June 10, 2009 with respect to the Partially Completed Vessels [Hulls 130 and 131] are rescinded, and Ship-owner shall have no obligation or liability with respect to such invoices or any other invoices issued by Builder.
If any of the Vessels is sold or declared a Total Loss the Borrowers shall provide the Agent with an evaluation of the Fair Market Values of all Delivered Vessels and of the actual value of the Vessels under Construction, such evaluation being not older than three (3) Months and being prepared by a broker or expert accepted by the Agent, unless the Agent has evaluated the Vessels’ Fair Market Value and such evaluation is not older than three (3) Months.
Should the Delivered Vessels or any of them be operated by any of the Borrowers, any operator or charterer within US territory waters (200 miles zone) or should it be intended to enter any US harbour then the Borrowers are obliged to insure such Delivered Vessel against all risks as the Agent deems necessary by first class underwriters (e.g. maximum available additional oil pollution cover in excess of the oil pollution cover provided by the P&I Club, drug seizure etc.).
Of the 26 chartered-in vessels, 16 are currently in operation and 10 are scheduled for delivery at various times through December 2013, as set forth in the following table: Long-term Chartered-in Fleet in Operation Vessel Name Long-term Chartered-in Fleet to be Delivered Vessels (1) Generally, Navios Holdings may exercise its purchase option after three to five years of service.(2) The initial 50% purchase option on each vessel is held by Navios Holdings.
In respect of the Delivered Vessels, on the date of the first Drawing under the Delivered Vessels Loan or, in respect of the Subsequent Vessels and any Additional Vessel, on the date of the first Drawing under the Loan relating to such Vessel, any Time Charter in respect of that Vessel shall be in full force and effect.
In respect of the Delivered Vessels, on the date of the first Drawing under the Delivered Vessels Loan or, in respect of the Subsequent Vessels and any Additional Vessel, on the Delivery Date in respect of that Vessel, the Borrower is in full compliance with the ISM Code in respect of its Vessel.
In respect of the Delivered Vessels, the Subsequent Vessels and any Additional Vessel, on the Delivery Date in respect of the relevant Vessel, the relevant Borrower is in full compliance with the ISPS Code in respect of that Vessel.
The Borrower has requested that the Lender advance an aggregate amount up to $330,000,000 to the Borrower in order (a) together with the proceeds of the IPO, to fully repay existing indebtedness of the Initial Guarantors under the Existing Credit Agreement in respect of Delivered Vessels, (b) to finance a portion of the purchase price of the Remaining Vessels, (c) to provide working capital in an amount up to $10,000,000, and (d) to finance a portion of the purchase price of Additional Vessels.