Vessel Percentage definition

Vessel Percentage means, as of and after the Issue Date and prior to any subsequent adjustment as provided below, for each of the initial Mortgaged Vessels (including the Committed Vessels) and the Escrowed Proceeds, the percentage set forth below opposite such Mortgaged Vessel: VESSEL PERCENTAGE ------ ----------
Sample 1
Vessel Percentage is defined to mean as of and after any Sale Date or the Loss Date, as the case may be, and prior to any subsequent adjustment as provided below, for each of the initial Mortgaged Vessels and the Escrowed Property, the percentage set forth below opposite such Mortgaged Vessel: Vessel Percentage ------ ---------- Alianza G2 2.27 Alianza G3 2.07 Alianza Compana 0.51 Alianza Xxxxxxx 0.51 Cavalier I 0.54 Cavalier II 0.45 Cavalier III 0.70 Princess Xxxxxxxxx 13.80 Princess Marina 9.20 Princess Nadia 14.31 Princess Xxxxxx 13.67 San Antonio I 0.66 San Xxxxxxx I 1.68 San Xxxxxxx I 0.47 San Xxxxxx I 0.89 San Nicolas I 0.61 San Xxxxx 0.75 Santa Xx XX 0.44 Aggregate of 193 barges 21.13 Escrowed Property 15.34 Total....................................... 100.0% -------------- * Reflects the aggregate Vessel Percentage represented by the 193 barges that are Mortgaged Vessels under this Indenture as of the Issue Date, with each barge having an individual Vessel Percentage of approximately 0.13%. ; provided, however, that each Vessel Percentage shall be adjusted, in connection with any redemption of the Securities following a Sale or Loss of a Mortgaged Vessel, in each case to give effect to the occurrence of, and after giving effect to, (i) the acquisition of a Vessel with Escrowed Property and the delivery of a Mortgage with respect to such Vessel, (ii) the delivery after the Issue Date of any Qualified Substitute Vessel as part of the Collateral pursuant to the terms of this Indenture, (iii) the delivery after the Issue Date of any other Vessel as part of the Collateral, (iv) an Event of Loss after the Issue Date with respect to any Mortgaged Vessel, (v) the sale after the Issue Date of any Mortgaged Vessel, in each case effected in accordance with the terms of this Indenture, to be, for each Mortgaged Vessel remaining after such an occurrence, the percentage that the Appraised Value of such Mortgaged Vessel at the time of and after giving effect to such occurrence bears to the sum of the aggregate Appraised Value of the remaining Mortgaged Vessels at the time of and after giving effect to such occurrence plus the amount of Escrowed Property then remaining as part of the Collateral. Notwithstanding the foregoing, if any Vessel Percentage is required to be calculated or adjusted at a time when cash is on deposit with the Trustee as part of the Collateral as a result of the sale of a Mortgaged Vessel or the occurrence of an Event of Loss with respect to a Mortgaged Vesse...
Sample 1
Vessel Percentage shall have the meaning ascribed to such term in Section 6.6(c).
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Examples of Vessel Percentage in a sentence

  • In accordance with the principles set out above, the Company Operational Costs are allocated using the following weighting allocation (the “Weighting Allocation”): Vessel Percentage of Standard Charge Floater 200% HE Xxxx-up 150% Xxxx-up/ tender 100% The Weighting Allocation will apply regardless of whether a vessel is in operation, in construction, or non-operational.

  • Hull and Machinery and war risk insurance shall be carried in an amount which is not less than the greater of the full commercial value of the Vessel or 120% of the Vessel Percentage of the Indebtedness hereby secured outstanding from time to time.

  • Schedule 1 Allocated Percentage Values Vessel Percentage [*] [*] PORTIONS OF THIS EXHIBIT HAVE BEEN REDACTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT UNDER RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED.


More Definitions of Vessel Percentage

Vessel Percentage shall have the meaning ascribed to such term in Section 7.1(f)(iii). The foregoing definitions shall be equally applicable to both the singular and plural forms of the defined terms. Unless otherwise inconsistent with the terms of this Agreement, all accounting terms used herein shall be interpreted, and all accounting determinations hereunder shall be made, in accordance with GAAP.
Sample 1
Vessel Percentage is defined to mean, as of any date, as to any Mortgaged Vessel, (i) if such date is prior to the first Vessel Percentage Adjustment Event, the percentage set forth below opposite such Mortgaged Vessel or (ii) if such date is after the first Vessel Percentage Adjustment Event, the Vessel Adjusted Percentage determined for such Mortgaged Vessel with respect to the most recent Vessel Percentage Adjustment Event that occurred prior to such date. Mortgaged Vessel Percentage Deep Endeavour 20.31 % Northern Canyon 13.02 % Northern Commander 6.77 % Northern Crusader 8.59 % Northern Princess 1.30 % Northern Queen 2.08 % Northern River 11.72 % 42 Mortgaged Vessel Percentage Northern Supporter 5.21 % Northern Wave 12.24 % Trico Sabre 10.42 % Atlantic Challenger 8.34 % Total: 100.00 %
Sample 1
Vessel Percentage means as of and after the Closing Date and prior to any subsequent adjustment as provided below, for each of the initial seven Mortgaged Vessels, the percentage set forth below opposite such Mortgaged Vessel: MORTGAGED VESSEL PERCENTAGE ------------------------------------- ---------- Poul Spirit.......................... 15.5% Torben Spirit........................ 15.1% Senang Spirit........................ 15.0% Mayon Spirit......................... 13.6% Leyte Spirit......................... 13.6% Luzon Spirit......................... 13.6% Samar Spirit......................... 13.6% ---------- 100.0% =========
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Related to Vessel Percentage

  • Pool Percentage With respect to each Mortgage Pool and any Distribution Date, the fraction, expressed as a percentage, the numerator of which is the Pool Balance for such Mortgage Pool for such date and the denominator of which is the Aggregate Pool Balance for such date.

  • NOLV Percentage the net orderly liquidation value of Inventory, expressed as a percentage, expected to be realized at an orderly, negotiated sale held within a reasonable period of time, net of all liquidation expenses, as determined from the most recent appraisal of Borrowers’ Inventory performed by an appraiser and on terms satisfactory to Agent.

  • Control Percentage means, with respect to any Person, the percentage of the outstanding capital stock of such Person having ordinary voting power which gives the direct or indirect holder of such stock the power to elect a majority of the Board of Directors of such Person.

  • Utilization Percentage means, on any day, the percentage produced by dividing (a) the aggregate Revolving Credit Exposures by (b) the total Commitments, unless the Commitments shall have been terminated, in which case the Utilization Percentage shall be 100%.

  • Relevant Percentage means, in respect of any Subsidiary Issuer, the percentage as specified in the relevant Pricing Supplement;

  • Total Percentage means, with respect to any Lender at any time, the ratio (expressed as a percentage) of such Lender’s Aggregate Exposure at such time to the Aggregate Exposure of all Lenders at such time.

  • Shift Percentage As to any Distribution Date occurring during the five years beginning on the first Distribution Date, 0%. For any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date as follows: for any Distribution Date in the first year thereafter, 30%; for any Distribution Date in the second year thereafter, 40%; for any Distribution Date in the third year thereafter, 60%; for any Distribution Date in the fourth year thereafter, 80%; and for any Distribution Date thereafter, 100%.

  • Reduction Percentage means the percentage rate by which the Initial Per Certificate Entitlement will reduce on a daily basis on the assumption that the daily rate will be theper annum rate specified in the Final Terms divided by 365 and applied accordingly. B.26 Investment managementNot applicable - there is no active management of the assets of the Issuer. B.27 Further issuances backed by same pool of assetsNot applicable – the Issuer will not issue further securities backed by the same pool of assets. B.29 Description of the flow of fundsSave to the extent that the Authorised Participant as subscribed for the issue of Certificates in whole or in part by the physical delivery of the relevant Precious Metal in respect of the Series (the "Underlying Precious Metal"), the net proceeds from each issue of Certificates will be used (a) to purchase the Underlying Precious Metal and (b) to pay any listing fees incurred in connection with the listing of the Certificates. The Certificates will not bear interest. On redemption, a Certificateholder will, in respect of a Certificate, receive on a date on or before the third business day following the relevant Eligible Redemption Valuation Date(being any business day) (in each case the "Settlement Date"):

  • Concentration Percentage means (i) for any Group AA Obligor, 30.00%, (ii) for any Group A Obligor, 17.50%, (iii) for any Group B Obligor, 15.00%, (iv) for any Group C Obligor, 12.50% and (v) for any Group D Obligor, 7.50%.

  • Allocation Percentage means, with respect to any Monthly Period, the percentage equivalent of a fraction:

  • Average Contribution Percentage means the average of the Contribution Percentages of the Eligible Participants in a group.

  • PO Percentage As to any Discount Mortgage Loan, a fraction (expressed as a percentage) the numerator of which is the excess of the Required Coupon over the Adjusted Net Mortgage Rate of such Discount Mortgage Loan and the denominator of which is such Required Coupon. As to any Non-Discount Mortgage Loan, 0%.

  • Valuation Percentage means, for any item of Eligible Collateral, the percentage specified in Paragraph 13.

  • Dilution Percentage means the gross amount of all returns, allowances, discounts, credits, write-offs and similar items relating to Borrower's Accounts computed as a percentage of Borrower's gross sales, calculated on a ninety (90) day rolling average.

  • Term Loan Percentage means, with respect to any Term Loan Lender at any time, the percentage of the total outstanding principal balance of the Term Loans represented by the outstanding principal balance of such Term Loan Lender’s Term Loans.

  • Participation Percentage means the rounded percentage of the total actual Project costs that will be contributed by the OPWC, not to exceed the maximum dollar contribution of the OPWC identified in this Project Agreement, and the rounded percentage of the total actual Project costs that will be contributed by the Recipient. Both percentages are identified in Appendix B. If the total actual Project costs exceed the estimated Project costs identified in Appendix B, the Local Subdivision Participation Percentage will increase to reflect the cost overrun, while the OPWC percentage contribution will decrease recognizing that there is a maximum dollar contribution from the OPWC which is identified in this Project Agreement.

  • Priority Percentage As to any Distribution Date, the percentage equivalent (carried to six places rounded up) of a fraction the numerator of which is the Class Certificate Balance of the Class A-6 Certificates immediately prior to such date and the denominator of which is the aggregate of the Class Certificate Balances of all Classes of Certificates (other than the Class A-PO Certificates) immediately prior to such date.

  • Contribution Percentage means the percentage obtained by dividing (x) the Adjusted Net Worth (as defined below) of such Guarantor by (y) the aggregate Adjusted Net Worth of all Guarantors; (ii) the “Adjusted Net Worth” of each Guarantor shall mean the greater of (x) the Net Worth (as defined below) of such Guarantor and (y) zero; and (iii) the “Net Worth” of each Guarantor shall mean the amount by which the fair saleable value of such Guarantor’s assets on the date of any Relevant Payment exceeds its existing debts and other liabilities (including contingent liabilities, but without giving effect to any Guaranteed Obligations arising under this Guaranty or any guaranteed obligations arising under any guaranty of any Permitted Additional Indebtedness) on such date. Notwithstanding anything to the contrary contained above, any Guarantor that is released from this Guaranty pursuant to Section 17 hereof shall thereafter have no contribution obligations, or rights, pursuant to this Section 18, and at the time of any such release, if the released Guarantor had an Aggregate Excess Amount or an Aggregate Deficit Amount, same shall be deemed reduced to $0, and the contribution rights and obligations of the remaining Guarantors shall be recalculated on the respective date of release (as otherwise provided above) based on the payments made hereunder by the remaining Guarantors. All parties hereto recognize and agree that, except for any right of contribution arising pursuant to this Section 18, each Guarantor who makes any payment in respect of the Guaranteed Obligations shall have no right of contribution or subrogation against any other Guarantor in respect of such payment until the Termination Date. Each of the Guarantors recognizes and acknowledges that the rights to contribution arising hereunder shall constitute an asset in favor of the party entitled to such contribution. In this connection, each Guarantor has the right to waive its contribution right against any Guarantor to the extent that after giving effect to such waiver such Guarantor would remain solvent, in the determination of the Required Lenders.

  • Specified Percentage means, as to any Lender, the percentage indicated beside its name on the signature pages hereof, or if applicable, specified in its most recent Assignment Agreement.

  • Uptime Percentage means Uptime expressed as a percentage, calculated in accordance with the following formula:

  • Tranche B Term Loan Percentage as to any Lender at any time, the percentage which such Lender's Tranche B Term Loan Commitment then constitutes of the aggregate Tranche B Term Loan Commitments (or, at any time after the Closing Date, the percentage which the aggregate principal amount of such Lender's Tranche B Term Loans then outstanding constitutes of the aggregate principal amount of the Tranche B Term Loans then outstanding).

  • Asset Percentage has the meaning specified in Section 2.05(b)(ii).

  • Monthly Uptime Percentage means total number of minutes in a calendar month minus the number of minutes of Downtime suffered in a calendar month, divided by the total number of minutes in a calendar month.

  • Applicable Revolving Percentage means with respect to any Revolving Lender at any time, such Revolving Lender’s Applicable Percentage in respect of the Revolving Facility at such time.

  • Note Percentage means (i) for each Payment Date until the aggregate principal amount of each Class of Notes has been paid in full, 100%; and (ii) thereafter, 0%.

  • Term Percentage as to any Term Lender at any time, the percentage which such Lender’s Term Commitment then constitutes of the aggregate Term Commitments (or, at any time after the Closing Date, the percentage which the aggregate principal amount of such Lender’s Term Loans then outstanding constitutes of the aggregate principal amount of the Term Loans then outstanding).