Pool Vessels definition

Pool Vessels vessels entered and delivered into the Pool by Pool Participants.

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Pool Vessels means, collectively, (i) those vessels identified on Schedule 1.01 hereto as of the Effective Date, (ii) the Additional Pool Vessels, (iii) the Amendment No. 2 Pool Vessels and (iv) the Sea Coast Pool Vessels, in each case together with any vessels hereafter added to the Pool Vessels pursuant to Section 3.02 or Section 3.03 hereof.

Pool Vessels vessels entered into the Pool by Pool Participants. The term “Pool Vessel” shall have the same meaning and be one of the Pool Vessels;

Examples of Pool Vessels in a sentence

• The Total Costs allocated to the Vessel shall, as correctly as possible, reflect the relative operating costs of the Vessel compared with the other Pool Vessels.

• The resulting Net Pool Revenue (as determined in accordance with Clause 12) shall be distributed as time charter hire to each Participant in accordance with the Total Costs of the individual Pool Vessels, adjusted for any off-hire, in accordance with the terms of this Agreement.

• No Lien arising under any Environmental Law has attached to any revenues or to any of the Pool Vessels or any real or personal property owned by Borrower or any of its Subsidiaries.

• As soon as available after each Anniversary Date, Borrower shall provide the Administrative Agent with desktop Appraisals on all Pool Vessels in the Collateral.

• There are no charters in effect on any Pool Vessels other than the charters identified on Schedule 4.14 hereto.

• Nothing contained herein will relieve or discharge or in any way affect the obligation of Borrower to cure promptly any violations of Applicable Law or to pay and discharge any Liens against any of the Pool Vessels.

• Additionally, Lenders shall have received satisfactory evidence that the Pool Vessels are operationally suitable for the trades in which such Pool Vessels are expected to be engaged and can be operated by Borrower and/or a Subsidiary Guarantor in their intended trades without impediment.

• The resulting Net Pool Revenue (as determined in accordance with Clause 12) shall be distributed as time charter hire to each Pool Participant in accordance with the Total Costs of the individual Pool Vessels, adjusted for any off-hire, in accordance with the terms of this Agreement.

• Borrower agrees that the Pool Vessels shall be, and at all times and remain, separately identifiable personal property.

• Borrower shall require at all times that any demise charterer or operator of any of the Pool Vessels shall use its due diligence to operate, maintain, repair, insure, man and supply the Pool Vessels or any of them in a careful and proper manner, comply in all material respects with and conform to all governmental laws, rules and regulations and insurance restrictions relating thereto, and operate any such Pool Vessels with competent and duly qualified personnel.

More Definitions of Pool Vessels

Pool Vessels means those vessels identified on Schedule I hereto, together with any vessels hereafter added to the Pool Vessels pursuant to Section 3.02 or Section 3.03 hereof. “Proceeds shall have the meaning assigned to it in the UCC and, in any event, shall include, but not be limited to, (i) any and all proceeds of any insurance, indemnity or warranty payable to Lenders, from time to time with respect to the Vessels or other Collateral; (ii) any and all payments (in any form whatsoever) made or due and payable from time to time in connection with any sale, requisition, confiscation, condemnation, seizure or forfeiture of all and any part of the Vessels by any governmental body, authority, bureau or agency of any other Person (whether or not acting under color of governmental body); and (iii) accounts arising out of, any charter or chattel paper evidencing, any lease, contract for use or lease of, any and all other rents, hire or profits or other amounts from time to time paid or payable to Lenders in connection with, the Vessels.

Pool Vessels means those handysize and supramax drybulk Vessels operated by the Pool Manager from time to time and which, from the Delivery Date of a Vessel, shall be subject to the Pooling Agreements;

Pool Vessels as defined in the Recitals hereto and each a “Pool Vessel.”

Pool Vessels means those vessels identified on Schedule I hereto, together with any vessels hereafter added to the Pool Vessels pursuant to Section 3.02 or Section 3.03 hereof. "PROCEEDS shall have the meaning assigned to it in the UCC and, in any event, shall include, but not be limited to, (i) any and all proceeds of any insurance, indemnity or warranty payable to Lenders, from time to time with respect to the Vessels or other Collateral; (ii) any and all payments (in any form whatsoever) made or due and payable from time to time in connection with any sale, requisition, confiscation, condemnation, seizure or forfeiture of all and any part of the Vessels by any governmental body, authority, bureau or agency of any other Person (whether or not acting under color of governmental body); and (iii) accounts arising out of, any charter or chattel paper evidencing, any lease, contract for use or lease of, any and all other rents, hire or profits or other amounts from time to time paid or payable to Lenders in connection with, the Vessels.