Initial Ships definition

Initial Ships means the initial ships whose names and particulars are set out in Part 1 of Schedule 2 and “Initial Ship” means any of them;

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Initial Ships means any or all of them;

Initial Ships means, collectively, BULK PANGAEA, BULK PATRIOT, BULK J▇▇▇▇▇▇ and BULK TRIDENT, and in the singular means any one of them;

Examples of Initial Ships in a sentence

• The Lenders have agreed to make available to the Borrowers a senior secured post-delivery term loan facility in the aggregate principal amount of up to $30,301,562.51 in respect of the refinancing of the Initial Ships, provided that the foregoing amount may be increased by an amount to be agreed upon between the Lenders and the Borrowers to provide for an Advance in respect of the acquisition of an Additional Ship.

• Subject to the other provisions of this Agreement, the Lenders severally agree to make available to the Borrowers a loan facility in the aggregate principal amount of up to $30,301,562.51 in respect of the refinancing of the Initial Ships, provided that the foregoing amount may be increased by an amount to be agreed upon between the Lenders and the Borrowers to provide for an Advance in respect of the acquisition of an Additional Ship.

• The Loan shall be used initially in part-financing or refinancing the purchase price of the Initial Ships.

• The Lenders have agreed to make available to the Borrower a secured revolving credit facility in an amount of up to US$89,000,000 to initially part-finance or refinance the purchase price of the Initial Ships.

• A Ship shall, for the purposes of this clause 8.2, be valued in Dollars two (2) weeks prior to the Delivery Date for such Ship and thereafter on a semi-annual basis or if earlier the date upon which the Initial Ships are valued or would have been valued and thereafter all the Ships then financed by this Agreement shall be valued semi-annually or following a Default at any time determined by the Agent.

More Definitions of Initial Ships

Initial Ships means, together, the Ships referred to in Schedule 2 and, in the singular, means any of them;

Initial Ships means, together, the Bikini Ship and the Eniwetok Ship;

Initial Ships means, collectively, the ▇▇▇▇▇, ▇▇▇▇▇▇▇▇, VENICE, STI CONQUEROR, STI GLADIATOR, STI HARMONY, STI HERITAGE, STI HIGHLANDER and STI MATADOR, and in the singular means any one of them;

Initial Ships means, collectively, the ▇▇▇▇▇, ▇▇▇▇▇▇▇▇ and VENICE;

Initial Ships means the 5 ships listed as Ships 1, 2, 4, 5 and 6 in Schedule 6 which are owned by the Owners at the date of this Agreement and registered on the flag indicated in relation to that Ship in Schedule 6;

Initial Ships means each of Initial Ship A and Initial Ship B and in the plural means both of them.

Initial Ships means, collectively, the STI CORAL and STI DIAMOND;