Newbuilding Vessel definition
Examples of Newbuilding Vessel in a sentence
Evidence that the Newbuilding Vessel is insured in the manner required by the Security Documents and that letters of undertaking will be issued in the manner required by the Security Documents, together with (if required by the Agent) the written approval of the Insurances by an insurance adviser appointed by the Agent.
Not later than 30 days, or such shorter period as the Agent may agree to, prior to the date of this Agreement, one or more valuation(s) of the Newbuilding Vessel addressed to the Agent from an Approved Shipbroker certifying the Market Value for the Newbuilding Vessel, acceptable to the Agent.
If requested by the Agent, a report by a surveyor instructed by the relevant Collateral Owner and acceptable to the Agent to inspect the Newbuilding Vessel confirming to the Agent that the condition of the Newbuilding Vessel is in all respects acceptable to the Agent.
An interim Certificate of Confirmation of Class for hull and machinery confirming that the Newbuilding Vessel is classed with the highest class applicable to Newbuilding Vessels of her type with Lloyd’s Register or such other classification society as may be acceptable to the Agent.
Any Dividend Equivalents which relate to an Awarded Restricted Stock Unit which does not become vested shall be forfeited at the same time the related Awarded Restricted Stock Unit is forfeited.
If the Borrower does not deliver or to cause to be delivered to the Agent within 7 days after the relevant Delivery Date the additional documents and other evidence listed in Part IV of Schedule 2 (Delivery conditions subsequent), then the Loan will be reduced again by the Loan Amount Increase relevant to that Newbuilding Vessel and any part of the Loan advanced in excess of the Initial Maximum Loan Amount and any part of the Loan advanced in excess of such reduced amount shall be prepaid.
In this Clause, in respect of a Newbuilding Vessel, “materially” means any change, variation or modification relating to the purchase price, payment terms, date of delivery (unless any change of the date of delivery is in accordance with the relevant provisions of the Building Contract, including Permissible Delays (as defined therein)) and/or the identity of the vessel, the type of vessel or the vessel’s characteristics.
On the Borrowing Date for the initial Pre-Delivery Installment in respect of an Additional Newbuilding Vessel, each Subsidiary of the Borrower which is entering into a Construction Contract on such date shall have duly authorized, executed and delivered to the Administrative Agent the Guaranty, and the Guaranty shall be in full force and effect.
It seems that the older languages fall into three groups: Languages with no predicative adjective agreement, e.g. Middle Dutch (▇▇▇▇▇▇▇▇ 1993:248) and Old Frisian (▇▇▇▇▇▇ 1981:169).
The Mortgage and the Assignment in respect of the Newbuilding Vessel, the Account Security Deed for the Newbuilding Borrower’s Accounts and any other Credit Support Documents, together with all other documents required by any of them, including, without limitation, all notices of assignment and/or charge and evidence that those notices will be duly acknowledged by the recipients.