Vessel Acquisition definition

Vessel Acquisition means the acquisition by the Issuer or any Restricted Subsidiary, in one transaction or a series of related transactions, of one or more lift boats, jackup rigs, submersible rigs, semi-submersible rigs, barge rigs, drill ships or other maritime drilling rigs (whether new construction or otherwise) from a Person (other than a Restricted Subsidiary); provided that the aggregate consideration for such acquisition is $25.0 million or more.

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Vessel Acquisition means the acquisition of each of the Vessels.

Vessel Acquisition or “acquisition” means the proposed acquisition of 13 vessels, including 11 product tankers and two chemical tankers, plus options to purchase two additional product tankers, under the terms and conditions of the Acquisition Agreement.

Examples of Vessel Acquisition in a sentence

On the Closing Date, the Buyer shall pay to the Seller (to such account as the Seller shall nominate) the amount of US Dollars 33,500,000 (the “Purchase Price”) in exchange for the Shares, less any amounts paid as a deposit for the Shares under that certain Master Vessel Acquisition Agreement between the Buyer and Seller, dated as of July 24, 2014.
At the time of consummation of each Vessel Acquisition, all necessary material consents and approvals of, and filings and registrations with, and all other actions in respect of, all governmental agencies, authorities or instrumentalities required in order to make or consummate such Vessel Acquisition will have been obtained, given, filed or taken and are or will be in full force and effect (or effective judicial relief with respect thereto has been obtained).
All applicable waiting periods with respect thereto have or, prior to the time when required, will have, expired without, in all such cases, any action being taken by any competent authority which restrains, prevents, or imposes material adverse conditions upon any Vessel Acquisition.
On the Closing Date, the Buyer shall pay to the Seller (to such account as the Seller shall nominate) the amount of US Dollars Eighty One Million Five Hundred Thousand (USD 81,500,000.00) (the “Purchase Price”) in exchange for the Shares, less any amounts paid as a deposit for the Shares under that certain Master Vessel Acquisition Agreement between the Buyer and Seller, dated as of July 24, 2014.
On each Vessel Acquisition Borrowing Date, each Subsidiary of the Borrower which is consummating a Vessel Acquisition on such date shall have duly authorized, executed and delivered to the Administrative Agent the Guaranty, and the Guaranty shall be in full force and effect.

More Definitions of Vessel Acquisition

Vessel Acquisition means the acquisition by the Borrower or any Subsidiary of the Borrower, in one transaction or a series of related transactions, of one or more Vessels (whether new construction or otherwise, and whether directly or by acquiring equity interests of a Person that owns such Vessel(s)) and any related assets from a Person (other than a Subsidiary of the Borrower); provided that the aggregate consideration for such acquisition is $50,000,000 or more.

Vessel Acquisition or “acquisition” means the proposed acquisition by Seanergy Buyer or its nominated wholly owned subsidiaries of six dry bulk carriers, including a newly built vessel and one vessel currently under construction, under the terms and conditions of the Master Agreement and the several MOAs, each dated May 20, 2008 (as amended from time to time).

Vessel Acquisition means the acquisition by Trico Subsea of any of the Construction Vessels pursuant to the Vessel Acquisition Agreements.

Vessel Acquisition means the acquisition of an Additional Vessel.

Vessel Acquisition shall have the meaning set forth in the recitals of this Agreement.

Vessel Acquisition means the acquisition by the Borrower of Sapphire pursuant to the Vessel Acquisition Agreements.

Vessel Acquisition means each acquisition by the Borrower of a Collateral Vessel pursuant to the Vessel Acquisition Agreements.