Definition of Orvner


Orvner means a person who has a lawful right to possession ofa vessel by purchase, exchange, gift, lease, inheritance, or legal action whether or not the vessel is subject to a security interest.

Examples of Orvner in a sentence

In the latter case, Lender may join Equipment Orvner as a defendant in such foreclosure action only for such purpose and not to tenninate the PPA or otherwise adversely affect Equipment Owner's rights under the PPA or in this Agreement in such action.
Modifi the first sentence of Subparagraph I1.3.8 to read as follows: I 1.3.8 A loss insured under the Contractor's property insurance shall be adjusted by the Contractor as fiduciary and made payable to the Contractor and Orvner, as their interests may appear, subject to requirements of any applicable mortgagee clause.
The imposition iurd duration of the exclusion r'vill be detennined bl the severitl o1 n"nsg$sion ard determinecl b.r,'- dre Principal / Or'vner.
The obligations of the Orvner which are set out in Schedules 1 to 3 of the Original Unilateral Undertaking are planning obligations for the purposes of Section 106 of the Act and are enforceable by the Council and County Council.
S 3.6.6.3 When the Work is found to be substantially complete, the Architect shall inform the Orvner about the balance of the Conhact Sum remaining to be paid the Contractor, including the amount to be retained from the Contract Sum, if any, for final completion or correction of the V/ork.