Vessel Delivery Date definition
Examples of Vessel Delivery Date in a sentence
All notices, permits, licenses, disclosures or similar authorizations, if any, required to be obtained or filed pursuant to Environmental Law (as defined in the Charters) in connection with the operation and management of the Vessels have been obtained or filed and are valid as of the relevant Vessel Delivery Date except where the failure to obtain such authorization will not have a Material Adverse Effect on HLL, have a Material Adverse Effect on the Vessels, or expose an Owner to any material liability.
Acquiror shall advise Transferor of such request not less than ten days prior to the relevant Vessel Delivery Date.
Prior to the relevant Vessel Delivery Date, the vessel VOC ORCHID will be subject to a statutory mortgage and deed of covenants in favor of Danmarks Skibskreditfond, Nordea Bank Danmark A/S and Nordea Bank Finland plc.
To the Knowledge of Transferor, such Transferor’s Transferor Vessel is in good condition, working order and repair, is classed by a classification society which is a member of the International Association of Classification Societies with respect to hull and machinery and in the highest classification and rating for vessels of similar age, size and description, and is in such condition to merit such classification and rating as of the relevant Vessel Delivery Date.
The rate is specified in Schedule II and shall apply per day, and pro rata for any part of a day, commencing at the Interim Vessel Delivery Date or Newbuild Vessel Delivery Date, as applicable, and continuing throughout the Charter until the time and day of redelivery in accordance with Article 4.3, unless sooner terminated in accordance with the terms hereof.
Seller agrees to maintain a net worth of at least Ten Million Dollars ($10,000,000) at all times during the twelve (12) months following the Vessel Delivery Date.
If the Newbuild Vessel Delivery Date is delayed, other than in accordance with Enterprise’s instructions, and takes place after the planned Newbuild Vessel Delivery Date as set out in Article 4.2.3 of the General Terms and Conditions then the Hire set out in 4.1 above shall be reduced by 10% for the duration of the first month of delay and for each of the next two months of delay the Hire applicable in the previous month shall be reduced by a further 10% of the Hire set out in 4.
The Hire applicable in the third month of delay shall remain applicable until the Newbuild Vessel Delivery Date.
Vanguard : Prior to the relevant Vessel Delivery Date, the vessel VOC ENTERPRISE will be subject to (i) a statutory mortgage and deed of covenants in favor of Fortis Bank Nederland N.V., and (ii) an entry into the VOC Pool.
On the last Business Day of each calendar month occurring prior to the consummation of the eighth Vessel Acquisition, the Borrower shall provide written notice (such notice, a “Vessel Delivery Date Notice”) to the Administrative Agent of the expected date of each Vessel Acquisition yet to occur, which notice shall contain an explanation with reasonable detail of any changes from the last Vessel Delivery Date Notice delivered hereunder.