Substitute Vessel definition

Substitute Vessel has the meaning set forth in Section 6.05.

Substitute Vessel means a drilling rig or drillship that is used or useful in the Permitted Business.

Substitute Vessel means any one of the Valor (currently registered under Xxxxxxx Shipping Co. as the owner and with IMO No. 9628154), the Valiant (currently registered under Sander Shipping Co. as the owner and with IMO No. 9628178), or the Vantage (currently registered under Undine Shipping Co. as the owner and with IMO No. 9628192), which were delivered in 2013; provided that such vessels are chartered to the same charterer, and subject to the same charter rate (or no lower) and charter length (or no more than three months shorter remaining duration) as those applicable to the Valence.

Examples of Substitute Vessel in a sentence

• Substitute Vessel: If the vessel does not sail on or about the advertised or scheduled date for any reason, including fault of the Carrier, the Guest agrees that the Carrier shall be entitled to substitute any other vessel or means of transportation, regardless of whether owned or operated by the Carrier, and to re-berth Guests thereon or, at the Carrier's option, to refund the fare paid or a pro rata portion thereof, without further liability for damages or losses of any kind whatsoever.

• Subject to the right of the Company to acquire a Substitute Vessel in accordance with Section 10.1, upon the Total Loss of a Collateral Vessel, the Company shall prepay the Relevant Tranche Amount in respect of that Collateral Vessel, which such Relevant Tranche Amount shall be applied pro rata against each Note, together with interest thereon determined for the prepayment date with respect to such principal amount.

• If you have purchased another vessel you can submit an Application to Substitute Vessel which must be accompanied by all associated vessel stickers.

• This has helped me to identify areas in my knowledge and skills that need improvement.

• If it is established that there might be some serious or violent opposition to the execution about to be carried out, he or she may request the officer commanding the nearest Police Station to provide additional police to assist in the process.

More Definitions of Substitute Vessel

Substitute Vessel has the meaning set forth in Section 10.5.

Substitute Vessel means a Qualifying Vessel provided to the Pool Managers in place of a Pool Vessel.

Substitute Vessel means a vessel, acceptable in all respects to the Security Trustee, which, with the agreement of the Security Trustee, is or shall have been substituted in place of any of the Vessels for the purposes of each of the Facility Agreement and the Security Documents;

Substitute Vessel has the meaning set forth in Section 10.1. Schedule A

Substitute Vessel has the meaning ascribed thereto in Section 9.5;

Substitute Vessel shall have the meaning ascribed to such term in Section 6.11.

Substitute Vessel has the meaning given in clause 3.2 of the Bareboat Charter;