Additional Vessel means a drilling rig or drillship or other vessel that is used or useful in the Permitted Business; provided that upon the consummation of a Vessel Asset Sale where all of the interests in any such Additional Vessel are sold, leased, conveyed or otherwise disposed of in a transaction that complies with the terms of this Indenture, including Section 4.18 (“Asset Sales”) and Section 5.01 (“Merger, Consolidation, or Sale of Assets”), such Additional Vessel shall not thereafter constitute an Additional Vessel hereunder.
Additional Vessel means a drilling rig or drillship or other vessel that is used or useful in the Permitted Business.
Additional Vessel means any vessel (other than the Identified Vessels) that meets the Eligibility Criteria.
Examples of Additional Vessel in a sentence
Schedule “B” shall be amended and restated from time to time to include the applicable Fees for each Additional Vessel, which Fee shall be negotiated on a vessel-by-vessel basis.
An Additional Vessel is defined as any second-hand Suezmax or Medium-Range product tanker acquired by using Excess Cash and/or new equity injected into the Issuer.
The Company and the Manager each acknowledge that the Initial Technical Services Fee for the IPO Vessels represents the fair market value of providing the Technical Services for each IPO Vessel on August 8, 2005 and that the Initial Technical Services Fee for the Additional Vessels represents the fair market value of providing the Technical Services Fee for each Additional Vessel as of the date such Additional Vessel was acquired by the Company.
More Definitions of Additional Vessel
Additional Vessel means a vessel authorised to be secured to a mooring under regulation 27;
Additional Vessel means any double hull tanker (other than an Initial Vessel) which the Borrower notifies to the Lender pursuant to Section 2.02 as a vessel which the Borrower wishes to finance or purchase with the assistance of an Advance of Tranche C, and which the Lender, in its sole and absolute discretion, shall notify to the Borrower as being acceptable to the Lender, in accordance with Section 2.02, and which is or is to be registered in the ownership of a Guarantor under the laws and flag of the Xxxxxxxx Islands or another flag acceptable to the Lender, and everything belonging to such vessel; and “Additional Vessels” means, collectively, all such vessels approved by the Lender in accordance with Section 2.02.
Additional Vessel means any new or used container vessel which:
Additional Vessel means any one of them.
Additional Vessel shall have the meaning provided in the definition of Collateral Vessel.
Additional Vessel means a vessel acquired by any Loan Party using the proceeds of Incremental Core Term Loans, which becomes a Collateral Vessel after the date hereof, and is (i) a crude or product tanker vessel, (ii) not older than seven (7) years on the date of such acquisition, (iii) classed with an Approved Classification Society free of overdue recommendations and conditions affecting class, (iv) registered in an Acceptable Flag Jurisdiction, and (v) owned by a Subsidiary Guarantor and subject to a Collateral Vessel Mortgage on the date it becomes a Collateral Vessel.
Additional Vessel means a vessel acquired by any Loan Party or financed by any Loan Party using the proceeds of Incremental Revolving Loans or a vessel whose acquisition costs were refinanced or reimbursed under Incremental Revolving Commitments, in each case, which becomes a Collateral Vessel after the date hereof, and is (i) a double-hull crude or product tanker vessel between 35,000 dwt and 330,000 dwt and of similar quality and type as the Collateral Vessels, (ii) not older than ten (10) years on the date of acquisition, (iii) classed with an Approved Classification Society free of overdue recommendations and conditions affecting class, (iv) registered in an Acceptable Flag Jurisdiction, and (v) owned by a Subsidiary Guarantor and subject to a Collateral Vessel Mortgage on the date it becomes a Collateral Vessel.