U.K. Lessor definition
Examples of U.K. Lessor in a sentence
Unless otherwise ------------------------------------------- agreed by the U.K. Lessor with the consent of the Charterer, the Charter Period shall automatically terminate on the date falling ten days after the termination of the leasing of the Vessel under the Head Lease or, if later, the completion of the then current voyage of the Vessel and the discharge of any cargo therefor.
In the event that the Head Lease shall ------------------------- have terminated in circumstances where the U.K. Lessor is obliged to conclude the sale of the Vessel or its rights under the Conditional Sale Agreement, the parties shall have no obligation under Article 18(c), and any proceeds from such sale to which the Owner is entitled shall be applied against the obligations of the Charterer in respect of the payment of Termination Value under Article 14 or 23(b), as applicable.
Without restricting the generality of the foregoing, so long as the Head Lease is in full force and effect, the Mortgagee shall not, without the prior written consent of the U.K. Lessor, exercise any remedy resulting in an in rem judicial sale of the Vessel.
The Vessel is, and the Shipowner covenants that ------------- it will remain, duly documented in the name of the Shipowner as owner thereof under the laws and flag of the _______________________, free and clear of all Liens and encumbrances except Permitted Liens, which include but are not limited to, the rights of the U.K. Lessor under the Conditional Sale Agreement and the Head Lease, so long as either document is in full force and effect.
U.K. Lessor has entered into a Construction Contract dated November 24, 1997 with Hyundai Corporation and Hyundai Heavy Industries Co. Ltd.
The occurrence of the following will --------------------------- constitute a Special Termination Event: (i) title to the Vessel shall be required to be transferred to the U.K. Lessor or its designee in circumstances where there has been no assumption of the obligations of Owner in accordance with Section 3.04 of the Indenture, or (ii) termination of the Charter Period pursuant to Article 23(c).
Owner shall deliver and demise the Vessel to Charterer, and -------- Charterer shall accept the delivery and demise of the Vessel immediately upon delivery of the Vessel by the Builder to U.K. Lessor, on the Delivery Date at the Delivery Yard, such delivery and acceptance to be conclusively evidenced by Charterer's execution of the Protocol of Delivery and Acceptance.
The Charterer agrees that, at or ------------------------ before the time of delivery of the Vessel to the Owner Trust pursuant to the Head Lease on the Delivery Date, the Charterer shall cause the Vessel to be documented, on a provisional basis, in the name of the U.K. Lessor (but at the Charterer's expense) under the laws and the flag of the ▇▇▇▇▇▇▇▇ Islands and shall cause the Vessel to be documented on a permanent basis in the name of the U.K. Lessor promptly after the Delivery Date.
The Vessel is, and the Shipowner covenants that it will ------------- remain, duly documented in the name of the Shipowner as owner thereof under the laws and flag of the _______________________, free and clear of all Liens and encumbrances except Permitted Liens, which include but are not limited to, the rights of the U.K. Lessor under the Conditional Sale Agreement and the Head Lease, so long as either document is in full force and effect.
In the event that the Head Lease shall ------------------------- have terminated in circumstances where U.K. Lessor is obliged to conclude the sale of the Vessel or its rights under the Head Lease, the parties shall have no obligation under Article 18(c), and any proceeds from such sale to which Owner is entitled shall be applied against the obligations of Charterer in respect of the payment of Termination Value under Article 14 or 23(b), as applicable.