Sinosure definition

Sinosure means China Export & Credit Insurance Corporation, a company incorporated and existing under PRC law.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Sinosure means China Export & Credit Insurance Corporation, a corporation organised and existing under the laws of The People’s Republic of China and having its principle place of business at 2 Fortune Times Building, ▇▇. ▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, The People’s Republic of China.

Sinosure means the China Export and Credit Insurance Corporation or any successor thereto.

Examples of Sinosure in a sentence

• The rules of interpretation set forth in Appendix A (Defined Terms and Rules of Interpretation) of the Sinosure Credit Agreement shall apply to this Amendment, mutatis mutandis.

• Each Lender expressly confirms and agrees that the Sinosure Agent shall not be liable for any loss caused as a result of the breach by any such Lender of its obligations under Clause 15.21 (Sinosure Policy).

• Except as otherwise expressly provided herein, capitalized terms used in this Amendment shall have the meanings assigned to such terms in Appendix A (Defined Terms and Rules of Interpretation) of the Sinosure Credit Agreement, as amended by Amendment No. 1 and as amended hereby.

• J.R. P▇▇▇▇▇ (as Sinosure Agent) print name acting by its duly authorised in the presence of: signature of witness /s/ KOH ZHI W▇▇ ▇▇▇▇▇▇▇▇ name KOH ZHI W▇▇ ▇▇▇▇▇▇▇▇ print name of witness address YISHUN FIVE 4 BIK 652 #10-515 SINGAPORE 760652 Signed and delivered /s/ S.J.B. N▇▇▇▇▇▇▇▇▇ /s/ H.

• Any Sinosure Insurance Proceeds received by the Sinosure Agent or applied by the Agent pursuant to this Clause 10.12 shall not be deemed to satisfy, reduce, release or prejudice any of the obligations of any Security Party under any Finance Document in whole or in part which obligations shall remain due and payable notwithstanding the receipt or application of the Sinosure Insurance Proceeds.

• The Borrower delivers the Compliance Certificates pursuant to Section 5.1 (Financial Statements and Other Information) in respect of the twelve (12) months period ending on June 30, 2015 confirming that it is in compliance with the financial ratios set out in the Sinosure Credit Agreement.

• The Borrower covenants with the Finance Parties not to sell, agree to sell, or otherwise dispose of, or agree to dispose of, the Vessel without the prior written consent of the Agent and Sinosure, unless the proceeds of such sale or disposal are sufficient to prepay the whole of the Loan.

• For the avoidance of doubt, the Borrower shall be under no obligation to make a full prepayment of the Loan under this Clause 6.4 if the termination, suspension or cancellation of the Sinosure Policy is caused by the wilful misconduct of any Finance Party.

• The provisions of Clause 15.30 (Resignation), pertaining to the procedures to be followed in connection with the appointment of a successor Agent shall constitute, mutatis mutandis, the procedures to be followed in connection with the appointment of a successor Sinosure Agent provided the Sinosure Agent is able to assign and/or novate the Sinosure Policy to its successor.

• The Borrower and each Guarantor (as applicable) confirms to the Administrative Agent that the Repeating Representations and the representation made under Section 4.20 (Ranking) of the Sinosure Credit Agreement are true and correct on and as of the Effective Date as if made on and as of such date and as if the references to “this Agreement” in that section were references to the Sinosure Credit Agreement as amended by this Amendment.

More Definitions of Sinosure

Sinosure means the China Export and Credit Insurance Corporation, the wholly state-owned official export credit insurance agency of the PRC.

Sinosure means China Export & Credit insurance Corporation, a company incorporated and existing under the laws of the People’s Republic of China SINOSURE Policy means, in relation to the Ships, the insurance policy covering ninety five per cent (95%) of the commercial and political risks in respect of the relevant Ship Commitment, Ship Loan and interest thereon issued or to be issued by SINOSURE to the Original Lenders, in form and substance satisfactory to them SINOSURE Premium means the premium payable in respect of the SINOSURE Policy SMC means a safety management certificate issued in respect of a Ship in accordance with rule 13 of the Code Subordinated Lender means in relation to each Borrower, its Shareholder Subordination Deed means, in relation to a Borrower, a subordination deed executed or (as the context may require) to be executed by that Borrower, the Subordinated Lender, the Lenders, the Arrangers, the Facility Agent and the Security Agent in the agreed form set out in Schedule 16 (Form of Subordination Deed) Subsidiary of a person means any company or entity directly or indirectly controlled by such person, and for this purpose control means either the ownership of more than fifty per cent (50%) of the voting share capital (or equivalent rights of ownership) of such company or entity or the power to direct its policies and management, whether by contract or otherwise Substitute Basis has the meaning ascribed thereto in clause 8.7.2 (Market Disruption: non-availability) Taxes includes all present and future taxes, levies, imposts, duties, fees or charges of whatever nature together with interest thereon and penalties in respect thereof and Taxation shall be construed accordingly Time Charter means, in relation to a Ship, the time charter between the relevant Borrower for that Ship and the Time Charterer details of which are provided in Schedule 2 (Ship Information) Time Charterer means Classic Maritime Inc., a company incorporated in the Republic of the ▇▇▇▇▇▇▇▇ Islands with registration number 27873, with its registered address at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, ▇▇▇▇▇▇▇▇ Islands MH96960 Total Commitments means the aggregate of the Commitments, being at the date of this Agreement up to $122,580,000 Total Estimated Price means, in respect of any Ship, the amount specified against the name of such Ship in Schedule 2 (Ship Information) (being the aggregate of the Contract Price for such Ship plus certain additional costs as...

Sinosure or any "Party" shall be construed so as to include its successors in title, permitted assignees and permitted transferees;

Sinosure means China Export & Credit Insurance Corporation, a company incorporated under the laws of PRC, having its head office at Fo▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇. “Sinosure Insurance Policy” means the policy of medium and long term export insurance issued by Sinosure to the Insured in respect of the risks arising under this Agreement, providing a compensation covering no less than 95% of the aggregate of the principal and accrued interest under the Facility commercial and political cover in a form and substance acceptable to the Lenders. “Sinosure Premium” means the insurance premium of US$8,798148.66 payable in Dollars to Sinosure under the Sinosure insurance Policy in respect of the cover provided by Sinosure under the Sinosure Insurance Policy. “SMC” means a safety management certificate to be issued in respect of each of the Vessels in accordance with rule 13 of the ISM Code. “Specified Amount” has the meaning given to it in Clause 20.6(e). “Specified Time” means a time determined in accordance with Schedule 9 (Timetables). “Subsidiary” means in relation to any company, corporation or other legal entity, (a “holding company”), a company, corporation or other legal entity: (a) which is controlled, directly or indirectly, by the holding company; (b) more than half the issued share capital of which is beneficially owned, directly or indirectly, by the holding company; or (c) which is a subsidiary of another subsidiary of the holding company, and, for this purpose, a company or corporation shall be treated as being controlled by another if that other company or corporation is able to determine the composition of the majority of its board of directors or equivalent body. “Swap Rate” means for any applicable period: (a) the rate per annum equal to the quotation for US Dollars for a period equal to, or as near as possible equal to, the relevant applicable period which appears on page ISDAFIXI (or other replacement or appropriate page) of the Reuters Monitor Money Rates Service 20