Condition of the Vessel. 5.1 All Vessels must be kept clean and in reasonable repair at all times. Should a Vessel be damaged, then repair works must be carried out as soon as is reasonably possible. Tarpaulins and temporary covers are allowed for no more than 3 months unless authorised by the marina manager
Condition of the Vessel. The Borrower shall procure that the Vessel and every part thereof is kept in a good and safe condition and state of repair, ordinary wear and tear excepted and shall ensure that all repairs to the Vessel or replacements of lost, damaged or worn parts and equipment in respect of the Vessel, are effected in such a manner so as not to diminish the value of the Vessel and in any event:
Condition of the Vessel. (a) Owner represents and warrants at the Delivery Date and undertakes throughout the Term that the Vessel shall be fitted in every way for the safe loading, discharging, handling and carrying of LNG in bulk at atmospheric pressure, the regasification of LNG, and the discharge of regasified LNG, and suitable for trading as set forth in Article 6. Owner (i) represents and warrants that on the Delivery Date the Vessel shall be tight, staunch, strong and otherwise seaworthy with cargo handling and storage systems (including instrumentation) necessary for the safe loading, discharging, handling, carrying and measuring of LNG, the regasification of LNG, and the discharge and measuring of regasified LNG, in good order and condition, with the Vessel and its machinery, boilers and hull in such a state as to obtain the most economic operation having regard to the rates of regasified LNG discharge and the rates of speed and fuel consumption amounts specified in Schedule I, with a main engine equipped with a system to burn boil-off gas alone, boil-off gas together with fuel oil, or fuel oil alone, and shall be fitted to burn fuel oil of normal commercial grades, and with a full and efficient complement of Master, officers and crew for a Vessel of her type and tonnage and with clean tanks and piping free of debris or other foreign matter; and (ii) undertakes SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH FIVE ASTERISKS (*****). throughout the Term that the Vessel shall be maintained in such condition. Owner warrants that the Vessel shall be fully stored, equipped, manned and fit in all respects for service as of the Delivery Date.
Condition of the Vessel. Without prejudice to Section 5, the Seller shall bear no liability, direct or indirect, for the condition of the Vessel. Without prejudice to Section 5, the Seller shall not be liable for any delays in the delivery of the Vessel to the Vessel Owning Subsidiary or any breach of the provisions of the Memorandum of Agreement by Heroic, including without limitation any direct or indirect damages caused by (a) the failure of Heroic to deliver the Vessel to the Vessel Owning Subsidiary or (b) delays in Universal’s delivery of the Vessel.
Condition of the Vessel. The Buyer acknowledges that Seller has made no representations or claims as to the condition of the Vessel or equipment or acquired assets which are the subject of this agreement. SELLER SPECIFICALLY DISCLAIMS ANY WARRANTIES, EXPRESS OR IMPLIED, AND ANY WARRANTIES AS TO THE PHYSICAL OR MECHANICAL CONDITION OF THE VESSEL. BUYER ACKNOWLEDGES THAT BUYER IS PURCHASING THE VESSEL "AS IS." ALL IMPLIED WARRANTIES, INCLUDING THE IMPLIED WARRANTY OF MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, ARE HEREBY DISCLAIMED. IT IS EXPRESSLY UNDERSTOOD THAT THE VESSEL IS SOLD "AS IS."
Condition of the Vessel. 5.1 The Owner shall ensure that the Vessel remains in a sea worthy condition at all times whilst it is at the Marina. The Vessel is to have an operational engine, and must be able to navigate and steer under its own power. Exception to this will need the Company’s approval.
Condition of the Vessel. The Buyer acknowledges that Seller has made no representations or claims as to the condition of the Vessel or slot machines, equipment or furnishings which are the subject of this Agreement.
Condition of the Vessel. (a) Owner represents and warrants at the Delivery Date and undertakes throughout the Term that the Vessel shall be fitted in every way for the safe loading, discharging, handling and carrying of LNG in bulk at atmospheric pressure, the regasification of LNG, and the discharge of regasified LNG, and suitable for trading as set forth in Article 6. Owner (i) represents and warrants that on the Delivery Date the Vessel shall be tight, staunch, strong and otherwise seaworthy with cargo handling and storage systems (including instrumentation) necessary for the safe loading, discharging, handling, carrying and measuring of LNG, the regasification of LNG, and the discharge and measuring of regasified LNG, in good order and condition, with the Vessel and its machinery, boilers and hull in such a state as to obtain the most economic operation having regard to the rates of regasified LNG discharge and the rates of speed and fuel consumption amounts specified in Schedule I, with a main engine equipped with a system to burn boil-off gas alone, boil-off gas together with fuel oil, or fuel oil alone, and shall be fitted to burn fuel oil of normal commercial grades, and with a full and efficient complement of Master, officers and crew for a Vessel of her type and tonnage and with clean tanks and piping free of debris or other foreign matter; and (ii) undertakes throughout the Term that the Vessel shall be maintained in such condition. Owner warrants that the Vessel shall be fully stored, equipped, manned and fit in all respects for service as of the Delivery Date.
Condition of the Vessel. Vessel Owner warrants and represents that at all times during the term of this Agreement, the Vessel shall be maintained in a safe and seaworthy condition by Vessel Owner and shall be operated in a careful and safe manner so as not to cause damage to Company’s facilities, or to any other property, vessels or persons. At all times, the Vessel will be equipped with a fully functioning battery turn-off switch. In the event that Vessel Owner or other authorized person is unavailable, or is available but refuses to act, and if the Vessel is in danger of sinking, becoming a fire, explosion or pollution hazard, or causing damage to Company’s facilities or to any other property or person by reason of any unsafe or unseaworthy condition of the Vessel or otherwise, Vessel Owner authorizes Company to take appropriate actions as Company shall determine in its sole discretion, including without limitation, making repairs to the Vessel or removing the Vessel from the Marina, at Vessel Owner’s sole risk and expense, to xxxxx, mitigate, and otherwise deal with the apparent danger and hazards. Vessel Owner agrees to be bound by Company’s actions and to be fully and solely responsible for all expenses and liability incurred thereof. VESSEL OWNER AGREES FURTHER THAT COMPANY SHALL HAVE THE AUTHORITY, PURSUANT TO THIS PARAGRAPH, TO DO ALL THINGS AND TO TAKE ALL STEPS NECESSARY TO REDUCE THE HAZARDS AND DANGERS THAT IN COMPANY’S JUDGMENT APPEAR TO BE PRESENT OR FORESEEABLE. NOTWITHSTANDING THE ABOVE, NOTHING HEREIN SHALL BE CONSTRUED TO CREATE ANY DUTY, OBLIGATION OR RESPONSIBILITY ON THE PART OF COMPANY TO ACT IN SUCH CIRCUMSTANCES AND NOTHING HEREIN SHALL BE CONSTRUED TO CREATE ANY LIABILITY ON THE PART OF COMPANY FOR FAILING TO ACT IN SUCH CIRCUMSTANCES. SECURITY OF THE VESSEL: Company assumes no responsibility for and shall not be liable for the care, protection and security of the Vessel. Use of the Boat Slip or any other Marina facilities is at the sole risk of Vessel Owner. Vessel Owner acknowledges and agrees that Company shall not be liable to Vessel Owner by reason of any intrusion, theft, vandalism, arson or other criminal acts of any kind or degree on or about the Vessel whether on land or by water. HOLDOVER: In the event Vessel Owner remains in occupancy of a boat slip or storage area beyond the expiration or earlier termination or cancellation of this Agreement, Vessel Owner shall be liable to Company as damages, in addition to all other charges due under this Agr...
Condition of the Vessel. Buyer agrees to accept the Vessel and the ----------------------- Stored Items "as is" and "where is" at Closing.
