Shipping Act definition

Shipping Act means the Shipping Act, 1916, as at any time amended, Xxxxx 00, Xxxxxx Xxxxxx Code, § 801 et seq., or any successor statute thereto.

Shipping Act means the Shipping Act of 1916, as amended and consolidated at 46 U.S.C. §55101.

Shipping Act means the Shipping Act of 1916, as amended and consolidated at 00 X.X.X. §00000.

Examples of Shipping Act in a sentence

• The chairman shall, at all times and so long as the Company engages in business for which it must qualify as a citizen of the United States under Section 2 of the Shipping Act, 1916, as amended, or any other or successor statutory provision, be a citizen of the United States.

• The president shall, at all times and so long as the Company engages in business for which it must qualify as a citizen of the United States under Section 2 of The Shipping Act, 1916, as amended, or any other or successor statutory provision, be a citizen of the United States.

• Notwithstanding any other provision herein to the contrary, no sale, charter, transfer or other disposition of the Vessel or any interest therein may be made to any entity not a citizen of the United States within the meaning of Section 2 of the Shipping Act of 1916, as amended, without the approval of the Secretary of Transportation of the United States.

• The Chairman, and any person acting in his stead shall, at all times and so long as the Corporation engages in business for which it must qualify as a citizen of the United States under Section 2 of the Shipping Act of 1916, as amended, or any other or successor statutory provision, be a citizen of the United States.

• The Shipowner is a citizen of the United States within the meaning of Section 2 of the Shipping Act, 1916, as amended, and shall remain such a citizen for operation in the trades in which the Shipowner proposes to operate the Vessels and in the event the Shipowner shall cease to be such a citizen, the Shipowner shall notify the Secretary immediately of such fact.

More Definitions of Shipping Act

Shipping Act means the Shipping Xxx, 0000, as amended from time to time.

Shipping Act means the Shipping Act 1988;

Shipping Act means the Shipping Act of 1916, as amended and consolidated at 46 U.S.C. §55101. “SMC” means the safety management certificate issued in respect of a Vessel in accordance with Rule 13 of the ISM Code. “Solvent” or “Solvency” means, with respect to any Person as of a particular date, that on such date (a) such Person is able to pay its debts and other liabilities, contingent obligations and other commitments as they mature in the ordinary course of business, (b) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts and liabilities mature in their ordinary course, (c) such Person is not engaged in a business or a transaction, and is not about to engage in a business or a transaction, for which such Person’s property would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which such Person is engaged or is to engage, (d) the fair value of the property of such Person is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person and (e) the present fair salable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured. In computing the amount of contingent liabilities at any time, it is intended that such liabilities will be computed at the amount which, in light of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. “Specified Credit Party” means, any Credit Party that is, at the time on which the Guaranty (or grant of security interest, as applicable) becomes effective with respect to a Swap Obligation, a corporation, partnership, proprietorship, organization, trust or other entity that would not be an “eligible contract participant” under the Commodity Exchange Act at such time but for the effect of Section 4.8. 31

Shipping Act means the Shipping Act Chapter 50:10; “SCUBA” means any self-contained underwater breathing

Shipping Act means the Shipping Act, 1916, as amended, and any ------------ successor laws governing citizenship of vessels used in U.S. coastwise trade.

Shipping Act shall have the meaning set forth in Section 4.1 hereof.

Shipping Act means the Shipping Act of 1916, as amended and consolidated at 46 U.S.C. §55101. “SMC” means the safety management certificate issued in respect of a Vessel in accordance with Rule 13 of the ISM Code. “Solvent” or “Solvency” means, with respect to any Person as of a particular date, that on such date (a) such Person is able to pay its debts and other liabilities, contingent obligations and other commitments as they mature in the ordinary course of business, (b) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay as such debts 32