New Vessels. Henceforth, all new towboats with four or five man crews shall carry a minimum of two Unlicensed Personnel, in one or other of the following groupings: a cook and deckhand, or two cook-deckhands. On all new six-man vessels, a minimum of three Unlicensed Personnel shall be carried.
New Vessels. Upon the acquisition by the Company or any of its Subsidiaries of any Material Vessel, the Company will, or will cause the Subsidiary which acquired such Material Vessel to, execute and deliver to Administrative Agent for the ratable benefit of the Lenders (a) a Vessel Mortgage granting a security interest in such Material Vessel to secure (i) in the case of the Company or a Domestic Subsidiary, the Loan Parties' Obligations and (ii) in the case of a Foreign Subsidiary, such Foreign Subsidiary's Obligations and (b) such evidence of corporate authority to enter into such Vessel Mortgage as the Administrative Agent may reasonably request; provided, however, that the Company and its Subsidiaries shall not be required to execute and deliver a Vessel Mortgage covering any Material Vessel which is acquired or to be acquired with MARAD Financing, subject to liens securing purchase money debt or Capital Leases, or subject to liens securing Debt permitted by clause 6.02(e).
New Vessels. 13.7.1 Where the Company proposes to import a Vessel upon which a marine crew shall be engaged existing practices shall continue to apply.
New Vessels. Upon the acquisition by the Company or any of its Subsidiaries of any Material Vessel, the Company will, or will cause the Subsidiary which acquired such Material Vessel to, execute and deliver to Administrative Agent for the ratable benefit of the Lenders (a) a Vessel Mortgage granting a security interest in such Material Vessel to secure the Obligations and (b) such evidence of corporate authority to enter into such Vessel Mortgage as the Administrative Agent may reasonably request; provided, however, that the Company and its Subsidiaries shall not be required to execute and deliver a Vessel Mortgage covering any Material Vessel which is acquired or to be acquired with MARAD Financing or subject to liens securing purchase money debt or Capital Leases.
New Vessels. Upon the acquisition by a Loan Party of any Vessel, such Loan Party will execute and deliver to the Collateral Agent, for the benefit of the Agents and the Lenders (a) a First Preferred Ship Mortgage granting a security interest in such Vessel to secure the Obligations and (b) such evidence of corporate authority to enter into such First Preferred Ship Mortgage as the Collateral Agent may reasonably request.
New Vessels. Upon the acquisition by a Loan Party of any Eligible Vessel, unless such Vessel is subject to a Lien securing Indebtedness permitted under clause (g) of the definition of the “Permitted Indebtedness”, such Loan Party shall execute and deliver to the Mortgage Trustee, for the benefit of the Secured Parties, (i) a First Preferred Ship Mortgage granting the Mortgage Trust a security interest in such Vessel to secure the Obligations, (ii) an Assignment of Insurances granting the Mortgage Trust a security interest in the insurances in respect of such Vessel, together with the proceeds thereof, to secure the Obligations, and (iii) such evidence of corporate authority to enter into such First Preferred Ship Mortgage and Assignment of Insurances as the Collateral Agent may reasonably request. If, within 45 days after the Effective Date, none of the Loan Parties has incurred the Indebtedness permitted under clause (g)(i) of the definition of “Permitted Indebtedness” and has pledged, as collateral for such Indebtedness, the Vessels identified on Schedule 6.01(ll) as constituting collateral therefor, then the Loan Party or Loan Parties which own the Vessels described on Schedule 6.01(ll) shall, upon the request of the Collateral Agent, promptly execute and deliver to the Mortgage Trustee, for the benefit of the Secured Parties, the documents described in clauses (i), (ii) and (iii) above in respect of such Vessels.
New Vessels. 18.1. When any vessel is materially changed or the trading patterns are materially changed or a new vessel is introduced into the employer’s service, leave is reserved to the Association and the employer to discuss the matter and if agreement is reached, for the Agreement to be varied accordingly. Failing such an agreement either party shall have liberty to apply to the OEA to resolve the matter and the Agreement shall be so varied.
New Vessels. When a shipowner commissions a new ship or acquires a used vessel from abroad, the shipowner must present accommodation plans to the signatories of the agreement. The cabins of a vessel on order for a Finnish shipowner must be designed so that they at minimum fulfil the requirements of Subsection 5 in Section 13 of the accommodations decree (Asuntoasetus, 518/76). At minimum, the wage terms in this agreement applicable to the vessel to be handed over shall apply to handover inspectors of newbuildings.
New Vessels. If a Borrower purchases or acquires a Vessel utilizing, in whole or in part, an Advance under the Revolving Credit Facility, execute and deliver to the Collateral Agent any and all agreements, forms, instruments, mortgages and other documents necessary to create, attach and perfect Transaction Liens upon such Vessel to secure payment of the Obligations.
