Collateral Vessels definition
Collateral Vessels means the vessels set out below, each owned by the Owners and chartered to the Collateral Charterer set out below opposite the vessel's name:
Collateral Vessels means the Tranche A Vessels and the Tranche B Vessels (each a “Collateral Vessel”).
Collateral Vessels means, collectively, the Vessels listed on Schedule XIV, and, individually, any of such Vessels.
Examples of Collateral Vessels in a sentence
A carbon, photographic or other reproduction of the Security Documents or any financing statement covering the Collateral or the Collateral Vessels or any part thereof shall be sufficient as a financing statement where permitted by law.
More Definitions of Collateral Vessels
Collateral Vessels means, collectively, the Liberian flag (or other applicable future flag) vessels the Pacific Bora, the Pacific Mistral, the Pacific Scirocco, the Pacific Santa ▇▇▇, the Pacific Sharav, the Pacific Khamsin, the Pacific Meltem and any additional Vessels acquired or owned by the Company or any of its Restricted Subsidiaries after the Issue Date.
Collateral Vessels means:
Collateral Vessels means, collectively, the Liberian flag (or other applicable future flag) vessels the Pacific Bora, the Pacific Mistral, the Pacific Scirocco, the Pacific Santa Ana, the Pacific Sharav, the Pacific Khamsin, the Pacific Meltem and any additional Vessels acquired or owned by the Company or any of its Restricted Subsidiaries after the Issue Date.
Collateral Vessels means the sixseven drilling rigs known as the West Capella, the ▇▇▇▇ ▇▇▇, the West Aquarius, the West Sirius, the West Auriga and, the West Capricorn, each as listed on Schedule 6.21 and, after satisfaction of the Collateral and Guarantee Requirement with respect thereto, West Vencedor. Each such vessel is a Collateral Vessel. The Borrowers or the applicable Guarantor may, at their option, at any time and from time to time, substitute one or more vessels owned, directly or indirectly, by the Borrowers or the applicable Guarantor (the “Replacement Vessel”) for a Collateral Vessel (including in connection with any refinancing transaction); provided that (i) at the time of such substitution no Default shall have occurred and be continuing, (ii) the Replacement Vessel is substantially similar in value and specification to the Collateral Vessel that is being substituted as determined in good faith by the Chief Financial Officer of SDLP, (iii) the net present value of the contracts applicable to such Replacement Vessel is not less than the net present value of the contracts applicable to the Collateral Vessel that is being replaced (in each case calculated in a manner reasonably accepted to the Administrative Agent), (iv) each Subsidiary of a Borrower that directly owns all or any part of any such Replacement Vessel, or that is or becomes party to a Collateral Vessel Contract with respect to such Replacement Vessel, shall become a Guarantor, and (v) at the time of such substitution, the Collateral Vessel to be substituted for and all Related Assets thereto shall be released from all Liens under the Collateral Agreements and the Guarantor owning such Collateral Vessel shall, unless it owns other Collateral Vessels or Related Assets thereto, be released from its obligations as a Guarantor. In such event, all references herein to “Collateral Vessel” shall thereafter be deemed to include such Replacement Vessel and shall cease to refer to the Vessel that was replaced, and Schedule 6.21 shall be updated as necessary to include any information with respect to such Replacement Vessel that is required by Section 6.21.
Collateral Vessels means, subject to the addition, substitution or release of vessels from time to time subject to the terms hereof, each of the vessels listed in Schedule 3.21.
Collateral Vessels. Corporate Guarantee" "General Assignments", "Loan Agreement", "Manager's Undertaking", "Mortgages", "New Manager's Undertaking", "Operating Accounts", "Operating Account Pledges", and "Vessels" as herein defined and the definitions set out in Clause 1. of this Supplemental Agreement shall be included mutatis mutandis, in Clause 1. of the Loan Agreement replacing the relevant definitions where the context permits;
Collateral Vessels means the Rapallo and the Additional Collateral Vessels.