Shipbuilding Contract definition

Shipbuilding Contract means the shipbuilding contract dated 30 March 2011 and made between the Builder and the Borrower for the construction by the Builder of the Ship and its purchase by the Borrower as supplemented and amended from time to time;

Shipbuilding Contract shall have the meaning ascribed to such term in Section 3.1(pp).

Shipbuilding Contract means each of the Vessel A Shipbuilding Contract and the Vessel B Shipbuilding Contract and in the plural means both of them;

Examples of Shipbuilding Contract in a sentence

• The Vessel Owning Subsidiary (or the Vessel owned by it) has no liabilities or obligations of any nature, whether absolute, accrued, contingent or otherwise, and whether due or to become due (including, without limitation, any liability for Taxes and interest, penalties and other charges payable with respect to any such liability or obligation, including under the Shipbuilding Contract).

• Other than the Charter, the Amendment to the Management Agreement and the Shipbuilding Contract (together, the “Contracts”), there are no material contracts or agreements, written or oral, to which the Vessel Owning Subsidiary is a party or by which any of its assets are bound.

• Notwithstanding the foregoing, the Parties acknowledge and agree that there may be obligations under the Contracts that are not due and payable as of the date hereof and that (together with any payments under the Shipbuilding Contract) will be the responsibility of the Seller pursuant to Section 9.01(c) of this Agreement.

• If any of the Shipbuilding Contract, the Refund Guarantee or the Xxxxx Performance Guarantee is cancelled, terminated or rescinded for any reason other than by expiry in accordance with its terms, the Borrower shall prepay the Loans in full.

• The Borrower also undertakes with each Creditor Party to procure that each Owner complies with the following provisions of this Clause 14 at all times during the Security Period (after the Ship has been delivered to it under the Shipbuilding Contract) except as the Facility Agent, with the authorisation of the Majority Lenders, may otherwise permit (in the case of the Clauses 14.2, 14.3(b) and 14.13(e), such permission not to be unreasonably withheld).

More Definitions of Shipbuilding Contract

Shipbuilding Contract means each of the Vessel A Shipbuilding Contract, the Vessel B Shipbuilding Contract, the Vessel C Shipbuilding Contract, the Vessel D Shipbuilding Contract, the Vessel E Shipbuilding Contract and the Vessel F Shipbuilding Contract and in the plural means all of them;

Shipbuilding Contract means the turn key building contract between the Builder and the Owner dated as of 24 January 2008 (as may further be amended or supplemented from time to time) pursuant to which the Builder agreed to build and deliver the Vessel to the Owner.

Shipbuilding Contract has the meaning given in Recital (A);

Shipbuilding Contract means the shipbuilding contract dated 7 April 2006 as amended and supplemented by a side letter and a supplemental agreement no. 1 each dated 7 April 2006, each entered into between the Borrower and the Builder in relation to the Ship;

Shipbuilding Contract means the Shipbuilding Contract dated 9th May 2007 in respect of the Vessel, being attached hereto as Appendix I. ‘Specifications’ means the Specifications as described in the Shipbuilding Contract.

Shipbuilding Contract means, in relation to Ship A, the shipbuilding contract dated 24 February 2007 made between the Seller and Obligor A in respect of such Ship, in relation to Ship B, the shipbuilding contract dated 24 February 2007 made between the Seller and Obligor B in respect of such Ship, in relation to Ship C, the shipbuilding contract dated 24 February 2007 made between the Seller and Obligor C in respect of such Ship, in relation to Ship D, the shipbuilding contract dated 24 February 2007 made between the Seller and Obligor D in respect of such Ship, in relation to Ship E, the shipbuilding contract dated 24 February 2007 made between the Seller and Obligor E in respect of such Ship and, in relation to Ship F, the shipbuilding contract dated 24 February 2007 made between the Seller and Obligor F in respect of such Ship and in each case, as supplemented by the Overall Agreement;

Shipbuilding Contract means the shipbuilding contract made between the Builder and Kambara Kisen Co., Ltd. (“Kambara”) as transferred by means of a nomination to Chijin Shipping S.A. of 53rd Street, Urbanizacion Obarrio, Torre Bancosur, Panama City, Republic of Panama (the “Intermediate Seller”) in relation to the construction of the Vessel by the Builder for delivery and sale to the Intermediate Seller.