REQUISITION FOR TITLE definition
REQUISITION FOR TITLE. (as a verb) includes, in relation to an asset, compulsorily acquire, expropriate, nationalise, seize, capture, forfeit, condemn as prize or otherwise act so as to divest the owner thereof of title thereto and noun forms of the verb shall be construed accordingly;
REQUISITION FOR TITLE. (as a verb) includes, in relation to an asset, to compulsorily acquire, expropriate, nationalise, seize, capture, forfeit, condemn as a prize or otherwise act so as to divest the owner thereof of title thereto and noun forms of such verb shall be construed accordingly; “total loss” in relation to a vessel, shall be construed so as to include (a) any actual, constructive, agreed, arranged or compromised total loss of such vessel including such as may occur during a requisition for hire of that vessel and (b) the requisition for title of such vessel (otherwise than by requisition for hire) by any government or other competent authority or by any person acting or purporting to act by the authority of the same and from which such vessel has not been released within a period of ninety days following the occurrence of such event; and a “vessel” or a “Collateral Vessel” includes her boilers, engines, machinery, masts, spares, boats, anchors, chains, tackle, apparel, furniture, fittings, freights, computers and other equipment and all other appurtenances belonging or appertaining to her (whether owned at the date of this Agreement or acquired later and whether or not on board but excluding such as may be leased to the owner of such vessel) and all additions, replacements and improvements thereto.
REQUISITION FOR TITLE. (as a verb) includes, in relation to an asset, compulsorily acquire, expropriate, nationalise, seize, capture, forfeit, condemn as prize or otherwise act so as to divest the owner thereof of title thereto and the noun forms of the verb shall be construed accordingly;