Vessel Financing definition
Examples of Vessel Financing in a sentence
The Borrower may for any reason at any time elect to terminate the financing arrangements provided in this Agreement and the Transocean Contracts Loan Agreement for the Rig (a "Vessel Financing Termination").
The Borrower may at any time elect to terminate the financing arrangements provided for in this Agreement and the other Credit Documents with respect to either of the Drillship or the Rig for any reason whatsoever (a "Vessel Financing Termination").
The Borrower shall give the Agent at least three (3) Business Days' notice of the date on which it intends to effect a Vessel Financing Termination and the vessel affected thereby.
The Company agrees to provide the Collateral Agent with thirty (30) days prior written notice if any of the Liens granted pursuant to the Vessel Financing Documents are to be discharged and, if so requested by the Collateral Agent, the Company agrees to permit the Collateral Agent to file a Lien against the applicable vessel or vessels in form and substance reasonably satisfactory to it.
The Borrower shall give the Agent at least three (3) Business Days' notice of the date on which it intends to effect a Vessel Financing Termination.
On or about December 5, 2006, Defendant was sentenced to 24 months of conditional discharge with special conditions, 180 days in County Jail which sentence was stayed, plus fines and costs, based upon his conviction in the Circuit Court of ▇▇▇▇▇▇▇ County, Illinois, Case Number 04CF001175, for misdemeanor attempt aggravated battery.
For so long as any Subject Vessel Financing Facility remains outstanding, the covenant contained in the preceding sentence shall be deemed not to have been breached at any time unless the Financial Covenant Breach Condition has been fulfilled.
Notwithstanding anything to the contrary in the preceding paragraph, a Financing Subsidiary may apply the Net Proceeds of an Asset Sale to repay any Vessel Financing of such Financing Subsidiary.
For so long as any Subject Vessel Financing Facility remains outstanding, the covenant contained in the preceding sentence shall be deemed not to have been breached unless at least one financial covenant under all of the then-outstanding Subject Vessel Financing Facilities has also been breached at such time, without giving effect to any amendments or waivers to such Subject Vessel Financing Facilities after the Issue Date (the “Financial Covenant Breach Condition”).
The Syndicated Facility Documents, including, without limitation, the financial covenants of the Company provided for therein and the maturity date thereof, and the Vessel Financing Documents shall have been amended in form and substance and on terms and conditions satisfactory to the Purchasers.