Vessel Owning Subsidiary definition

Vessel Owning Subsidiary has the meaning given to it in the recitals.
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Vessel Owning Subsidiary means any Subsidiary of the Borrower that owns a Mortgaged Vessel.
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Vessel Owning Subsidiary has the meaning assigned to such term in Recital C.1 of this Agreement.
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Examples of Vessel Owning Subsidiary in a sentence

  • The Seller has disclosed to the Buyer all material information on, and about, the Vessel Owning Subsidiary and the Vessel and all such information is true, accurate and not misleading in any material respect.

  • No meeting has been convened or resolution proposed or petition presented and no order has been made to wind up the Vessel Owning Subsidiary.

  • The Vessel Owning Subsidiary has full corporate power and authority to carry on its business as it is now, and has since its incorporation been, conducted, and is entitled to own, lease or operate the properties and assets it now owns, leases or operates and to enter into legal and binding contracts.

  • The Vessel Owning Subsidiary has filed all foreign, federal, state and local income and franchise tax returns required to be filed, which returns are correct and complete in all material respects, and has timely paid all taxes due from it, and the Vessel is in good standing with respect to the payment of past and current Taxes, fees and other amounts payable under the laws of the jurisdiction where it is registered as would affect its registry with the ship registry of such jurisdiction.

  • The Shares constitute 100% of the issued and outstanding Equity Interests of the Vessel Owning Subsidiary.

  • The Seller has supplied to the Buyer true and correct copies of the organizational documents of the Vessel Owning Subsidiary, as in effect as of the date hereof (the “Organizational Documents”).

  • The Buyer has had the opportunity to conduct to its own satisfaction independent investigation, review and analysis of the business, operations, assets, liabilities, results of operations, financial condition and prospects of the Vessel Owning Subsidiary and, in making the determination to proceed with the transactions contemplated hereby, has relied solely on the results of its own independent investigation and the representations and warranties set forth in Articles IV, V and VI.

  • The Vessel Owning Subsidiary will not be indebted, directly or indirectly, to any person who is an officer, director, stockholder or employee of the Seller or any spouse, child, or other relative or any affiliate of any such person, nor shall any such officer, director, stockholder, employee, relative or affiliate be indebted to the Vessel Owning Subsidiary.

  • The Vessel Owning Subsidiary is the owner (beneficially and of record) of the Vessel and has good and marketable title to the Vessel.

  • The Seller agrees to cause the Vessel Owning Subsidiary to provide access to the books and records of the Vessel Owning Subsidiary to allow the Buyer’s outside auditing firm to prepare at the Buyer’s expense any information, review or audit the Buyer reasonably believes is required to be furnished or provided by the Buyer pursuant to applicable securities laws.


More Definitions of Vessel Owning Subsidiary

Vessel Owning Subsidiary as used in this Section 5 shall include, as the context requires, any Vessel owned by such Subsidiary or Vessel Owning Subsidiary.
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Vessel Owning Subsidiary has the meaning described in the definition of “Guarantor.”
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Vessel Owning Subsidiary means each of CVI Citron, LLC , a Delaware limited liability company, which is the registered owner of the MX Xxxxxx, and CVI Citrus, LLC, a Delaware limited liability company, which is the registered owner of the MV Citrus, provided, however, that after the Redomiciliation Date, each of CVI Citron, LLC and CVI Citrus, LLC will be a Mxxxxxxx Islands limited liability company.
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Vessel Owning Subsidiary means each Liberian or Panamanian corporation listed on Schedule IIIA that holds at any time an ownership interest in one or more Collateral Vessels.
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Vessel Owning Subsidiary means, with respect to any marine vessel, the Subsidiary that owns such marine vessel (or, in the case of any marine vessel that is under construction, the Subsidiary that is party to the construction agreement relating to such marine vessel). For purposes of the definition of “Ownership Adjusted Fair Market Value”, so long as (a) BMD directly owns 100% of the Stock and Stock Equivalents of BMDL and (b) BMDL owns the DB 30, (x) BMD shall be considered the Vessel Owning Subsidiary with respect to the DB 30 and (y) any Indebtedness of BMDL shall be considered Indebtedness of BMD.
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Vessel Owning Subsidiary means each entity listed on Schedule III (as such schedule may be amended from time to time or in accordance with the provisions of Section 5.02(e) or 5.04(b) hereof or Schedule VII) under the column entitled "Vessel Owning Subsidiary" that is the owner of a Collateral Vessel and any other entity that from time to time becomes the owner of a Collateral Vessel.
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Related to Vessel Owning Subsidiary

  • Financing Subsidiary means (a) any Structured Subsidiary or (b) any SBIC Subsidiary.

  • Operating Subsidiary means a majority-owned subsidiary of a financial

  • Project Financing Subsidiary means any Restricted Subsidiary of the Borrower (or any other Person in which Borrower directly or indirectly owns a 50% or less interest) whose principal purpose is to incur Project Financing or to become an owner of interests in a Person so created to conduct the business activities for which such Project Financing was incurred, and substantially all the fixed assets of which Subsidiary or Person are those fixed assets being financed (or to be financed) in whole or in part by one or more Project Financings.

  • Subsidiary means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed or acquired after the date hereof.

  • JV Subsidiary any Subsidiary of a Group Member which is not a Wholly Owned Subsidiary and as to which the business and management thereof is jointly controlled by the holders of the Capital Stock therein pursuant to customary joint venture arrangements.

  • Non-U.S. Subsidiary means any Subsidiary that is not a U.S. Subsidiary.

  • Operating Subsidiaries means, collectively, the Corporation and HST, each a wholly-owned subsidiary of the Trust, and "Operating Subsidiary" means either of the Corporation or HST, as applicable.

  • Major Subsidiary means a subsidiary of an issuer if

  • ORE Subsidiary means any Subsidiary of the Assuming Bank that engages solely in holding, servicing, managing or liquidating interests of a type described in clause (A) of the definition of “Other Real Estate,” which interests have arisen from the collection or settlement of a Shared-Loss Loan.

  • Issuer Subsidiary means any subsidiary of the Issuer.

  • Parent Subsidiary means any Subsidiary of Parent.

  • Company Subsidiary means a Subsidiary of the Company.

  • Target Company means each of the Company and its direct and indirect Subsidiaries.

  • Material Non Listed Indian Subsidiary means an unlisted subsidiary, incorporated in India, whose income or net worth (i.e. paid up capital and free reserves) exceeds 20% of the consolidated income or net worth respectively, of the listed holding company and its subsidiaries in the immediately preceding accounting year.

  • UK Subsidiary means a Subsidiary organized under the laws of England and Wales.

  • Current Subsidiary means any Person in which the Company on the Subscription Date, directly or indirectly, (i) owns any of the outstanding capital stock or holds any equity or similar interest of such Person or (ii) controls or operates all or any part of the business, operations or administration of such Person, and all of the foregoing, collectively, “Current Subsidiaries”.

  • Acquisition Subsidiary has the meaning specified in Section 7.14.

  • Subject Company shall have the meaning set forth in Section 6.10(a).

  • Qualifying Subsidiary means any Subsidiary of the Company that (i) is not the Issuer or an Initial Guarantor, and (ii) at the relevant time of determination, is not a Joint Venture Company, a Project Company, a Local Operating Company, a Bidding Company or a Holding Vehicle.

  • Australian Subsidiary means any Subsidiary that is organized under the laws of Australia or any territory thereof.

  • PRC Subsidiary means any Subsidiary of the Company organized under the Laws of the PRC.

  • SPE Subsidiary means any Subsidiary formed solely for the purpose of, and that engages only in, one or more Securitization Transactions.

  • Project Company means Company incorporated by the bidder as per Indian Laws in accordance with Clause no 3.5.

  • Principal Subsidiary means at any relevant time a Subsidiary of the Issuer:

  • Seller Affiliate means any Affiliate of Seller.

  • Material Domestic Subsidiary means any Domestic Subsidiary that is a Material Subsidiary.