Poseidon Principles definition
Poseidon Principles means the financial industry framework for assessing and disclosing the climate alignment of ship finance portfolios published in June 2019 as the same may be amended or replaced to reflect changes in applicable law or regulation or the introduction of or changes to mandatory requirements of the International Maritime Organisation from time to time.
Poseidon Principles means the financial industry framework for assessing and disclosing the climate alignment of ship finance portfolios published in June 2019 as the same may be amended or replaced [to reflect changes in applicable law or regulation or the introduction of or changes to mandatory requirements of the International Maritime Organization] from time to time.
Poseidon Principles means the financial industry framework for assessing and disclosing the climate alignment of ship finance portfolios published on 18 June 2019, as the same may be amended or replaced from time to time.
Examples of Poseidon Principles in a sentence
For the avoidance of doubt, such information shall be confidential information for the purposes of Section 10.16 but the Borrower acknowledges that, in accordance with the Poseidon Principles, such information will form part of the information published regarding the Lenders' portfolio climate alignment.
More Definitions of Poseidon Principles
Poseidon Principles means the financial industry framework for assessing and disclosing the climate alignment of ship finance portfolios published on June 18, 2019, available at http://www.poseidonprinciples.org, as the same may be amended or replaced, including but not limited to, to reflect changes in applicable law or regulation or the introduction of or changes to mandatory requirements of the International Maritime Organization from time to time.
Poseidon Principles means the financial industry framework for assessing and disclosing the climate alignment of ship finance portfolios published on 18 June 2019 as the same may be amended or replaced (to reflect changes in applicable law or regulation or the introduction of or changes to mandatory requirements of the International Maritime Organization) from time to time. Quarter Date means, subject to clauses 35.12 and 35.13 (Business Days), each of 31 March, 30 June, 30 September and 31 December of each calendar year. RCF Fraction means, at any time following the sale or Total Loss of a Ship, a fraction of which the numerator is a number equal to the most recently obtained in accordance with this Agreement Fair Market Value in dollars of that Ship and the denominator is a number equal to the aggregate of the most recently obtained in accordance with this Agreement Fair Market Values in dollars of all the Ships which were Mortgaged Ships immediately prior to that sale or Total Loss.
Poseidon Principles means the financial industry framework for assessing and disclosing the climate alignment of ship finance portfolios published on June 2019 as the same may be amended or replaced to reflect changes in applicable law or regulation or the introduction of or changes to mandatory requirements of the International Maritime Organization from time to time. "Reference Rate Supplement" means a document which: a) is agreed in writing by the Borrowers, the Agent (in its own capacity) and the Agent (acting on the instructions of all the Lenders); b) specifies the relevant terms which are expressed in this Agreement to be determined by reference to Reference Rate Terms; and c) has been made available to the Borrowers and each Finance Party. "Reference Rate Terms" means the terms set out in Schedule 9 (Reference Rate Terms) or in any Reference Rate Supplement. "Relevant Jurisdiction" means in relation to any Party: a) its jurisdiction of incorporation; b) any jurisdiction where any asset subject to or intended to be subject to Security Interest under a Security Document to be created by it is situated or registered, as applicable;
Poseidon Principles means the financial industry framework for assessing and disclosing the climate alignment of ship finance portfolios published on June 2019 as the same may be amended or replaced to reflect changes in applicable law or regulation or the introduction of or changes to mandatory requirements of the International Maritime Organization from time to time. "Reference Rate Supplement" means a document which: a) is agreed in writing by the Borrower, the Agent (in its own capacity) and the Agent (acting on the instructions of all the Lenders); b) specifies the relevant terms which are expressed in this Agreement to be determined by reference to Reference Rate Terms; and c) has been made available to the Borrower and each Finance Party. "Reference Rate Terms" means the terms set out in Schedule 9 (Reference Rate Terms) or in any Reference Rate Supplement. "Relevant Jurisdiction" means in relation to any Party: a) its jurisdiction of incorporation; b) any jurisdiction where any asset subject to or intended to be subject to Security Interest under a Security Document to be created by it is situated or registered, as applicable; c) any jurisdiction where it conducts its business; and d) the jurisdiction whose laws govern the perfection of any of the Security Documents entered into by it. "Relevant Market" means the market specified as such in the Reference Rate Terms. "Repeating Representations" means each of the representations set out in Clause 19 (Representations and warranties), except for Clauses 19.3a) (Binding obligations), 19.4a) (No conflict
Poseidon Principles means the financial industry framework for assessing and disclosing the climate alignment of ship finance portfolios published in June
Poseidon Principles means the financial industry framework for assessing and disclosing the climate alignment of ship finance portfolios published on 18 June 2019 as the same may be amended or replaced (to reflect changes in applicable law or regulation or the introduction of, or changes to, mandatory requirements of the International Maritime Organization) from time to time. "Pre-Approved Classification Society" means any of DNV GL, Lloyds Register, America Bureau of Shipping (ABS) or Bureau Veritas or such other classification society that is a member of the International Association of Classification Societies and is approved by the Majority Lenders, acting reasonably. "Pre-Approved Flag" means ▇▇▇▇▇▇▇▇ Islands, Norwegian International Ship Registry, Liberia, Cayman Islands, Panama, Isle of Man, Bermuda, Bahamas, Malta or Singapore. "Proportionate Share" means, at any time, the proportion which a ▇▇▇▇▇▇'s Commitment (whether or not advanced) then bears to the aggregate Commitments of all the Lenders (whether or not advanced) being on the Execution Date the percentage indicated against the name of that Lender in Schedule 1. "Protected Party" means a Finance Party which is or will be subject to any liability or required to make any payment for or on account of Tax in relation to a sum required or receivable (or any sum deemed for the purpose of Tax to be received or receivable) under a Finance Document. "Quotation Day" means, in relation to any period for which an interest rate is to be determined two (2) US Government Securities Business Days before the first day of that period, unless market practice differs in the relevant syndicated loan market, in which case the Quotation Day will be determined by the Agent in accordance with that market practice (and if quotations would normally be on more than one day, the Quotation Day will be the last of those days). "Reduction Date" means, in relation to each Collateral Vessel Tranche, each date on which the Maximum Amount of that Collateral Vessel Tranche shall be reduced in accordance with Clause 3.6. "Reference Rate" means, in relation to any Drawing: (a) the applicable Term SOFR as of the Quotation Day and for a period equal in length to that Interest Period; or (b) as otherwise determined pursuant to Clause 7.9, and if, in either case, that rate is less than zero, the Reference Rate shall be deemed to be zero. "Related Fund" in relation to a fund (the "first fund"), means a fund which is managed or advised by the same investme...
Poseidon Principles means the financial industry framework for assessing and disclosing the climate alignment of ship finance portfolios published on 18 June 2019 as the same may be amended or replaced to reflect changes in applicable law or regulation or the introduction of or changes to mandatory requirements of the International Maritime Organization from time to time. Potential Event of Default means any event or circumstance specified in Clause 29 (Events of Default) which would (with the expiry of a grace period or the giving of notice) be an Event of Default. Projected Debt Service means, at any time, the projected aggregate amount of the amounts payable (excluding any prepayments) by the Borrower under this Agreement plus the net amount payable (or, as the case may be, minus the net amount receivable) by the Borrower under the Hedging Contracts during the twelve (12) month period following the relevant quarter period end date.