Pool Vessels definition

Pool Vessels vessels entered and delivered into the Pool by Pool Participants.
Sample 1Sample 2Sample 3
Pool Vessels means, collectively, (i) those vessels identified on Schedule 1.01 hereto as of the Effective Date, (ii) the Additional Pool Vessels and (iii) the Sea Coast Pool Vessels, in each case together with any vessels hereafter added to the Pool Vessels pursuant to Section 3.02 or Section 3.03 hereof.
Sample 1
Pool Vessels means those vessels identified on Schedule I hereto, together with any vessels hereafter added to the Pool Vessels pursuant to Section 3.02 or Section 3.03 hereof. “Proceeds shall have the meaning assigned to it in the UCC and, in any event, shall include, but not be limited to, (i) any and all proceeds of any insurance, indemnity or warranty payable to Lenders, from time to time with respect to the Vessels or other Collateral; (ii) any and all payments (in any form whatsoever) made or due and payable from time to time in connection with any sale, requisition, confiscation, condemnation, seizure or forfeiture of all and any part of the Vessels by any governmental body, authority, bureau or agency of any other Person (whether or not acting under color of governmental body); and (iii) accounts arising out of, any charter or chattel paper evidencing, any lease, contract for use or lease of, any and all other rents, hire or profits or other amounts from time to time paid or payable to Lenders in connection with, the Vessels.
Sample 1Sample 2

Examples of Pool Vessels in a sentence

  • The Total Costs allocated to the Vessel shall, as correctly as possible, reflect the relative operating costs of the Vessel compared with the other Pool Vessels.

  • The resulting Net Pool Revenue (as determined in accordance with Clause 12) shall be distributed as time charter hire to each Participant in accordance with the Total Costs of the individual Pool Vessels, adjusted for any off-hire, in accordance with the terms of this Agreement.

  • No Lien arising under any Environmental Law has attached to any revenues or to any of the Pool Vessels or any real or personal property owned by Borrower or any of its Subsidiaries.

  • As soon as available after each Anniversary Date, Borrower shall provide the Administrative Agent with desktop Appraisals on all Pool Vessels in the Collateral.

  • In the event any Appraisal done at any time indicates that the aggregate Orderly Liquidation Value of the Pool Vessels is less than $71,000,000.00, Borrower shall pledge additional vessels acceptable to Lender, and the Proceeds thereof, until the aggregate Orderly Liquidation Value of the Pool Vessels is equal to at least $71,000,000.00.

  • The resulting Net Pool Revenue (as determined in accordance with Clause 12) shall be distributed as time charter hire to each Pool Participant in accordance with the Total Costs of the individual Pool Vessels, adjusted for any off-hire, in accordance with the terms of this Agreement.

  • Borrower shall ensure that none of the Pool Vessels is traded, located, operated or used, directly or indirectly, in a Prohibited Jurisdiction or by a Prohibited Person, and no charterer nor any subcharterer or shipper shall be a Prohibited Person or organized in a Prohibited Jurisdiction.

  • The Administrative Agent may conduct, and Borrower shall cooperate in the conduct of, a visual Appraisal of any or all of the Pool Vessels at Borrower’s expense, over every twelve (12) month period of this Agreement in the absence of an Event of Default and at any time during the continuance of an Event of Default.

  • Gentry Chief Financial Officer November 7, 2003 A signed original of this written statement required by Section 906 has been provided to MQ Associates, Inc.

  • Borrower will, and will cause each Subsidiary Guarantor to, duly observe and perform in all material respects all covenants and obligations to be performed by it under any charter or any other contract for use of the Pool Vessels or any of them and will promptly take any and all action as may be reasonably necessary to enforce its rights under any such charter or contract or to secure the performance by such charterer or operator of such party’s obligations under any such charter or contract.


More Definitions of Pool Vessels

Pool Vessels means those handysize and supramax drybulk Vessels operated by the Pool Manager from time to time and which, from the Delivery Date of a Vessel, shall be subject to the Pooling Agreements;
Sample 1
Pool Vessels means those vessels identified on Schedule I hereto, together with any vessels hereafter added to the Pool Vessels pursuant to Section 3.02 or Section 3.03 hereof. "PROCEEDS shall have the meaning assigned to it in the UCC and, in any event, shall include, but not be limited to, (i) any and all proceeds of any insurance, indemnity or warranty payable to Lenders, from time to time with respect to the Vessels or other Collateral; (ii) any and all payments (in any form whatsoever) made or due and payable from time to time in connection with any sale, requisition, confiscation, condemnation, seizure or forfeiture of all and any part of the Vessels by any governmental body, authority, bureau or agency of any other Person (whether or not acting under color of governmental body); and (iii) accounts arising out of, any charter or chattel paper evidencing, any lease, contract for use or lease of, any and all other rents, hire or profits or other amounts from time to time paid or payable to Lenders in connection with, the Vessels.
Sample 1
Pool Vessels means those vessels identified on Schedule 1.01 hereto, together with any vessels hereafter added to the Pool Vessels pursuant to Section 3.02 or Section 3.03 hereof.
Sample 1
Pool Vessels as defined in the Recitals hereto and each a “Pool Vessel.”
Sample 1

Related to Pool Vessels

  • Fleet Vessels means all of the vessels (including, but not limited to, the Ships) from time to time wholly owned by members of the Group (each a “Fleet Vessel”);

  • U.S.-flag vessel means a vessel of the United States or belonging to the United States, including any vessel registered or having national status under the laws of the United States.

  • Vessels shall have the meaning set forth in the recitals.

  • Mortgaged Vessel means, at any relevant time, any Vessel which is at such time subject to a Mortgage and a Vessel shall, for the purposes of this Agreement, be regarded as a Mortgaged Vessel as from the date on which the Mortgage of that Vessel has been executed and registered in accordance with this Agreement until whichever shall be the earlier of (i) the payment in full of the amount required to be paid to the Agent pursuant to clause 4.3 or 4.5 following the Total Loss or sale respectively of such Vessel and (ii) the end of the Facility Period;

  • Covered vessel means a tank vessel, cargo vessel, or passenger vessel.

  • Tank vessel means a ship that is constructed or adapted to carry, or that carries, oil in bulk as cargo or cargo residue, and that:

  • Foreign flag vessel means any vessel that is not a U.S.-flag vessel.

  • existing vessel means a vessel that is not a new fishing vessel.

  • Vessel means the vessel/craft belonging to the Contractor for carrying out the work.

  • The Vessel means the vessel named in Box 5 and with particulars as stated in Boxes 6 to 12.

  • Qualified machinery and equipment means all new industrial

  • Pressure vessel means containers for the containment of pressure, either internal or external. This pressure may be obtained from an external source or by the application of heat from a direct or indirect source, or any combination thereof.

  • U.S.-flag air carrier means an air carrier holding a certificate under 49 U.S.C. Chapter 411.

  • Documented vessel means a vessel documented under chapter 121, title 46, United States Code or a vessel for which an application for such docu- mentation is pending.