Marine Assets definition

Marine Assets means vessels, barges, boats and other watercraft, and, in each case, any equipment, consumables, ships stores or other related assets that are maintained or stored on the watercraft or on land. Bake▇ ▇▇▇h▇▇' ▇▇demnity obligations pursuant to this Section 4 shall be limited to $3 million with respect to Transferred Assets in Syria, $7 million with respect to Transferred Assets in Egypt, and $450,000 with respect to Transferred Assets in Trinidad.
View Source
Marine Assets means all assets owned, leased or licensed, as applicable, by the Seller or any of the Selling Subsidiaries that are primarily used or held for use in connection with the operation of the Business, including: (a) the Equipment; (b) the Marine Accounts Receivable; (c) Marine Inventory; (d) the Marine Supplies; (e) Intellectual Property used or held for use primarily in the operation of the Business; (f) Contracts to which Seller or any of the Selling Subsidiaries is a party and which relate primarily to the operation of the Business, including, but not limited to, all of the Contracts listed on Section 1.1(b) of the Seller Disclosure Letter; (g) subject to Section 5.6, advertising materials, marketing plans, distribution programs, customer lists and other similar information used or held for use primarily in the operation of the Business; (h) Books and Records of the Business, except those Books and Records in the possession of Seller’s independent public accountants (including the work papers of such independent public accountants); (i) all computer hardware, stored data, and owned computer software and documentation related thereto used or held for use primarily in the operation of the Business, except for those items listed in Section 2.2(f) of the Seller Disclosure Letter; (j) the Cash Deposits (to the extent not owned by an Acquired Company); and (k) any government licenses, permits and approvals issued to Seller or any of the Selling Subsidiaries, including Environmental Permits, which primarily relate to the operation of the Business to the extent their transfer is permitted by Law. It is understood and agreed that the “Marine Assets” does not include any building fixtures or any and all land, buildings and real property improvements owned by Seller and, in each case, located at the Limerick Facility. In addition, for the sake of clarity, “Marine Assets” shall not include any assets owned by the Acquired Companies.
View Source
Marine Assets means, collectively, all Marine Equipment and all other marine-related Assets of the Company (including but not limited to dredges) that do not require such a documentation, together with, all of their machinery, engines, instruments, rigging, anchors, chains, cables, tackle, apparel, accessories, equipment, ratio installation and navigational equipment, spare parts and all other appurtenances used in or relating to such Marine Assets, whether or not onboard.
View Source

Examples of Marine Assets in a sentence

  • Marine Assets' federal employer identification number is 72-125- 2404.

  • None of the Subsidiaries of the Company (other than Trico Marine Assets, Inc., Trico Marine Operators, Inc., Trico Supply AS and Trico Shipping AS (collectively, the “Significant Subsidiaries”)) is a “significant subsidiary” (as defined in Rule 1-02 of Regulation S-X).

  • Except as expressly set forth herein or in any other Ancillary Agreement, SEACOR Marine and each member of the SEACOR Marine Group shall bear the economic and legal risk that the SEACOR Marine Assets shall prove to be insufficient or that the title of any member of the SEACOR Marine Group to any SEACOR Marine Assets shall be other than good and marketable and free from encumbrances.

  • Effective as of the Effective Date as defined in the Joint Prepackaged Plan Of Reorganization Of Trico Marine Services, Inc., Trico Marine Assets, Inc., And Trico Marine Operators, Inc.

  • The Initial Producing and Marine Assets Purchase Price shall be allocated among ARCO, CH-20 and AMI as set forth on Schedule 2.2(b) of the Disclosure Schedule, subject to such adjustments thereto as may be required by any adjustments to the Initial Producing and Marine Assets Purchase Price in accordance with Section 2.3, which adjustments shall be allocated among ARCO, CH-20 and AMI in the manner agreed by Sellers and Purchaser.

  • No.: (▇▇▇) ▇▇▇-▇▇▇▇ Fax No.: (▇▇▇) ▇▇▇-▇▇▇▇ By: Title: VP & General Counsel TRICO MARINE OPERATORS, INC., as a Subordinated Guarantor By: Title: VP & General Counsel ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, 2nd Floor ▇▇▇▇▇ FARGO BANK, MAC T5303-022 NATIONAL ASSOCIATION ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇ as Second-Lien Trustee Telephone: (▇▇▇) ▇▇▇-▇▇▇▇ Telecopier: (▇▇▇) ▇▇▇-▇▇▇▇ By: Attention: Corporate Trust Services Title: Subordinated Guarantor Jurisdiction of Organization Trico Marine Assets, Inc.

  • Buyer and Seller each shall pay one half ( 1/2) of any transfer tax imposed on the consideration from conveyance of the Shares or the Additional Marine Assets under this Agreement.

  • Marine Assets' federal employer identification number is 72- 125-2404.

  • If prior to Closing (or if as to the Hirel Marine Assets, prior to January 15, 1998 or shipment of the Hirel Marine Assets to MPH, whichever occurs earlier), the assets or any portion thereof, suffer or sustain damage or injury by fire or other casualty, Buyer may, in its sole discretion, elect to terminate this Agreement upon written notice to such Seller without any liability to Hirel Holdings, Hirel Technologies or Hirel Marketing.

  • The Marine Assets are in the aggregate in a reasonable state of serviceable condition and repair so as to be reasonably adequate for the operation of the Business, subject only to normal maintenance requirements and normal wear and tear reasonably expected in the ordinary course of business and any exceptions listed on Schedule 2.9. Each item of Marine Equipment is seaworthy in all material respects, except for those items of Marine Equipment described in Schedule 2.9 as being out of service.