Owned Vessels definition

Owned Vessels shall have the meaning ascribed to such term in Section 3.1(pp).
Owned Vessels means the Vessels referred to in Schedule 2 Part A;
Owned Vessels has the meaning set forth in Section 5.15(a) below.

Examples of Owned Vessels in a sentence

  • Each of the Owned Vessels is classed by a classification society which is a full member of the International Association of Classification Societies and such Owned Vessels are in class with valid class and trading certificates, without overdue recommendations, in each case based on the classification and certification requirements in effect on the date hereof.

  • Each of the Owned Vessels is in good standing with respect to the payment of past and current taxes, fees and other amounts payable under the laws of the jurisdiction in which it is registered, except for any failure which would not result in a Material Adverse Effect.

  • With respect to each of the Wholly Owned Vessels, either the Company or one of its Subsidiaries, as applicable, is the sole owner of each such Vessel and has good title to such Vessel free and clear of all Liens other than Permitted Liens.

  • Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, each of the Company and its Subsidiaries are qualified to own and operate its Wholly Owned Vessels under applicable Laws, including the Laws of each Wholly Owned Vessel’s flag state.

  • Vessels and (B) if a US Owned Vessel is sold, the aggregate principal amount of all outstanding US Term Loans shall not exceed 80% of the orderly liquidation value of the remaining US Owned Vessels.


More Definitions of Owned Vessels

Owned Vessels means all the vessels that are owned by NM on the Closing Date;
Owned Vessels means collectively those of the Vessels which are owned by a Borrower and, in the singular, means any of them;
Owned Vessels means Lady of Xxxx, Xxx-my-Chree and XxxXxx Danmark; "the Pension Schemes" means the Steam Packet Scheme, the MNOPF, the MNRPP, the Sea Containers 1983 Scheme and the Sea Containers 1990 Scheme (or such one or more of them as the context requires);
Owned Vessels means together the Venetico Vessel and the Markela Vessel and in the singular means either of them;
Owned Vessels means all the vessels that are owned by NM on the Closing Date; “Services” has the meaning set forth in the recitals to this Agreement;
Owned Vessels means the vessels and barges owned by Seller and identified on Schedule 1.1-OV.
Owned Vessels shall have the meaning assigned to such term in Section 2.11.