Security Vessels definition

Security Vessels means, subject to any Permitted Disposal, the four gas carriers all flying the Liberian flag:
Sample 1Sample 2
Security Vessels means the Initial Vessels and any Additional Vessels.
Sample 1
Security Vessels means the Initial Vessels and any Additional Vessels;
Sample 1

Examples of Security Vessels in a sentence

  • Each of the Security Vessels shall be adequately insured against (A) Hull & Machinery risks at least covering 100% of the Market Value of such Security Vessel (B) third party liability as per industry standards (P&I), (C) war risk (including expropriation risk) as per industry standards, and (D) any additional insurances required under law or any charter contract.

  • Auxiliary Naval Vessels like Offshore Patrol Vessels (OPVs), Security Vessels, Border Outposts, Cadet training ships, Missile Vessels, Vessels for Littoral combat &fast attack crafts.

  • Contractor management will ensure compliance with this requirement as well as host nation requirements, Transportation Security Administration and 33 CFR, Chapter 1, Coast Guard, Department of Homeland Security, Subchapter H, Part 104 – Maritime Security: Vessels.

  • The Issuer shall procure that the Vessel Managers operate the Security Vessels in accordance with good industry standards and in accordance with the relevant Vessel Management Agreements and in compliance with the terms hereof and the Transaction Security Documents.

  • VESSEL CHARTERINGPacific Silverline has also developed a professional procurement team capable of handling all logistics and vessel management services for the IOCs, which includes but not limited to provision of various sea-going vessels ranging from Crew Boats, Security Vessels, Anchor Handling Tug Supply Vessels, Platform Supply Vessels and different types of Barges.

  • The Issuer shall remain the sole owner (directly or indirectly) of the Vessel Owners and ensure that the Vessel Owners shall continue to directly hold legal title to and own the entire beneficial interest in the respective Security Vessels, except if disposed of in a Permitted Disposal.

  • The Bond Trustee (and the RCF Agent) shall take out a Mortgagee Interest Insurance (" MII") and Mortgagee Additional Perils Insurance ("MAPI") in respect of the Security Vessels at the expense of the Issuer.

  • Pursuant to Federal Rule of Civil Procedure 55, when a party against whom a default judgment is sought failed to appear in the action and is not a minor or incompetent, notice of the motion is not required.

  • Security Vessels to be registered in a jurisdiction and to fly a flag acceptable to the Lender.

  • The hull and machinery insurance for each Security Vessel shall cover at least 80% of the Market Value of that Security Vessel, and the Security Vessels shall further inter alia be insured against war risk and have a third party liability insurance as per industry standards.


More Definitions of Security Vessels

Security Vessels means (a) on the Effective Date, those certain Vessels listed on Schedule 3 listed under the heading “Security Vessels”, and (b) from and after the Effective Date, those Vessels subject to, or required to be subject to, a Mortgage;
Sample 1
Security Vessels means, collectively, the Vessels and the Collateral Vessels.
Sample 1

Related to Security Vessels

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

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

  • Coastal vessel means any vessel exclusively employed in trading between any port or place in India to any other port or place in India having a valid coastal license issued by the competent authority.

  • 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.

  • 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”);

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

  • Passenger vessel means any boat, ship, vessel,

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

  • 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;

  • Recreational vessel means a vessel—

  • Security alarm system means a device or series of devices, intended to summon law enforcement personnel during, or as a result of, an alarm condition. Devices may include hard- wired systems and systems interconnected with a radio frequency method such as cellular or private radio signals that emit or transmit a remote or local audible, visual, or electronic signal; motion detectors, pressure switches, duress alarms (a silent system signal generated by the entry of a designated code into the arming station to indicate that the user is disarming under duress); panic alarms (an audible system signal to indicate an emergency situation); and hold-up alarms (a silent system signal to indicate that a robbery is in progress).

  • Ship means a vessel of any type whatsoever operating in the marine environment and includes hydrofoil boats, air-cushion vehicles, submersibles, floating craft and fixed or floating platforms.

  • Mortgaged Ship means a Ship which is subject to a Mortgage at the relevant time and, in the plural, means all of them;

  • Cargo vessel means a self-propelled ship in commerce, other than a tank vessel or a passenger vessel, three hundred or more gross tons, including but not limited to, commercial fish processing vessels and freighters.

  • existing vessel means a vessel which is not a new vessel;

  • Commercial vessel means any vessel not owned and operated by the United States military or the United States Coast Guard.

  • foreign fishing vessel means any fishing vessel other than a local fishing vessel;

  • fishing vessel means a vessel used for catching fish, whales, seals, walrus or other living resources of the sea;

  • passenger ship means a ship which carries more than 12 passengers;

  • 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.

  • foreign vessel means any vessel other than a coastal vessel.

  • Aircraft means any machine that can derive support in the atmosphere from the reactions of the air other than the reactions of the air against the earth’s surface;

  • Sailing vessel means any vessel under sail provided that propelling machinery, if fitted, is not being used.

  • storage vessel means a pressure vessel as defined in the Regulations for Pressure Vessels made under the Occupational Health and Safety Act;

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