Ship L definition

Ship L has the meaning ascribed thereto in Schedule 7 (Details of Ships);

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Ship L means an MR tanker to be acquired by Hebrides Shipco LLC and registered in its ownership on an Approved Flag, built in either Japan or Korea and being not more than seven years old on the Utilisation Date of Tranche L and being in all respects satisfactory to the Lenders.

Ship L means the Ship described as such in further details in Schedule 10 (Ships).

Examples of Ship L in a sentence

• In respect of a Ship, the undertakings in this Clause 25 (Insurance Undertakings) shall apply and remain in force on and from the first Utilisation Date in the case of the Existing Ships and the Utilisation Date of Tranche L in the case of Ship L and throughout the rest of the Security Period except as the Facility Agent, acting with the authorisation of the Majority Lenders (or, where specified, all the Lenders) may otherwise permit.

• In respect of a Ship, the undertakings in this Clause 26 (Ship Undertakings) shall apply and remain in force on and from the first Utilisation Date in the case of the Existing Ships and the Utilisation Date of Tranche L in the case of Ship L and throughout the rest of the Security Period except as the Facility Agent, acting with the authorisation of the Majority Lenders (or, where specified, all the Lenders) may otherwise permit.

• Legal opinions of the legal advisers to the Arranger, the Facility Agent and the Security Agent in the jurisdiction of the Approved Flag of Ship L, and England and Wales and such other relevant jurisdictions as the Facility Agent may require.

More Definitions of Ship L

Ship L means m.v. “COSCO GUANGZHOU”, details of which are set out opposite its name in Schedule 3 (Details of Ships).

Ship L has the meaning given to it in Schedule 4 (Details of the Ships and Other Definitions).