Collateral Owners means Platon, Rea, Kronos and Socrates and “Collateral Owner” means any one of them.
Collateral Owners means the companies listed in Schedule 7, being the owners of the Collateral Vessels and “Collateral Owner” means either one of them.
Collateral Owners means together Eniadefhi Shipping Corporation (“Eniadefhi”), Eniaprohi Shipping Corporation (“Eniaprohi”), Maxdodeka Shipping Corporation (“Maxdodeka”), Pelea Shipping Ltd. (“Pelea”) and Vasstwo Shipping Corporation (“Vasstwo”), each a corporation incorporated under the laws of the Republic of Liberia whose registered address is at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxx, Xxxxxxx Xxxxxxxx Corporation (“Vassone”) a corporation domesticated under the laws of the Republic of the Xxxxxxxx Islands whose registered address is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH 96960, Gloverfour Shipping Corporation (“Gloverfour”), Gloverfive Shipping Corporation (“Gloverfive”) and Shikokuexi Shipping Inc. (“Shikokuexi”), Youngone Shipping Corporation (“Youngone”), each a corporation incorporated under the laws of the Republic of the Xxxxxxxx Islands whose registered address is at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Islands MH 96960 and “Collateral Owner” means each one of them.
Examples of Collateral Owners in a sentence
The Borrower shall procure that none of the Collateral Owners shall pay any dividends or make other distributions to its shareholders at any time after the occurrence of an Event of Default which remains unremedied or unwaived.
The Borrower shall procure that neither of the Collateral Owners creates, or permits to subsist, any Encumbrance (other than pursuant to the Security Documents) over all or any part of the Collateral Vessels or the Insurances other than a Permitted Encumbrance.
Any future indemnification liabilities under this Clause 21 or any other provision of this Agreement or any other Finance Document or a Master Agreement shall survive (as shall the liability of the Borrowers, the Collateral Owners and the Corporate Guarantor for the same) the end of the Security Period up to a maximum period of two years Provided that if such liability has arisen during the Security Period, it shall survive the end of the aforementioned two-year period.
The Borrower shall procure that the Collateral Owners maintain the Earnings Accounts with the Account Holders for the duration of the Facility Period free of Encumbrances and rights of set off other than those created by or under the Finance Documents.
The Borrower shall procure that the Collateral Owners will only borrow from other members of the Group on a subordinated and unsecured basis, provided that the Collateral Owners may only repay such subordinated unsecured loans as long as no Event of Default has occurred and is continuing.
More Definitions of Collateral Owners
Collateral Owners means the Xxxxxx Collateral Owner, the Pantelis Collateral Owner and the Areti Collateral Owner and "Collateral Owner" means any one of them;
Collateral Owners means the Xingang Collateral Owner, the Xxxxxx Collateral Owner and the Pantelis Collateral Owner and "Collateral Owner" means any one of them; "Collateral Vessels" means the Marinos Collateral Vessel, the Xxxxxx Collateral Vessel and the Pantelis Collateral Vessel and "Collateral Vessel" means any one of them; "Effective Date" means the date on which the Lender confirms to the Borrowers in writing substantially in the form set out in Schedule 1 that all of the conditions referred to in clause 2.1 have been satisfied, which confirmation the Lender shall be under no obligation to give if Event of Default shall have occurred and be continuing; "Xxxxxx Collateral Owner" means Xxxxxx Maritime Ltd, a company incorporated under the laws of the Republic of Liberia, having its registered address at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxx; 4 "Xxxxxx Collateral Vessel" means the motor vessel named "XXXXXX" with IMO no. 9204477 built in Poland in 1999, currently registered under the flag of the Republic of Liberia in the ownership of the Xxxxxx Collateral Owner and everything now or in the future belonging to her on board and ashore; "Marinos Collateral Vessel" means the motor vessel named "MARINOS" with IMO no. 9053232 built in Germany in 1993, currently registered under the flag of the Republic of Liberia in the ownership of the Xingang Collateral Owner and everything now or in the future belonging to her on board and ashore; "Pantelis Collateral Owner" means Pantelis Shipping Corp., a company incorporated under the laws of the Republic of Liberia, having its registered address at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxx; "Pantelis Collateral Vessel" means the bulk carrier vessel named "PANTELIS" with IMO no. 0000000 built in Japan in 2000, currently registered in the ownership of the Pantelis Collateral Owner under the flag of the Republic of Liberia and everything now or in the future belonging to her on board and ashore; "Pantelis Loan Agreement" means the loan agreement dated 15 December 2009 (as amended and supplemented form time to time) made between the Pantelis Collateral Owner (as borrower) and the Lender (as lender) for the purposes and pursuant to the terms and conditions contained therein; "Release Date" means the date of actual release of the Cash Collateral Account Charge to be released by the Lender in accordance with Clause 27.8 of the Loan Agreement and the terms and conditions contained in such Cash Collateral Account Charge; "Security Parties" all parties t...
Collateral Owners means the companies listed in Schedule 2 under the heading "Collateral Owners" each a company incorporated under the laws of the Hong Kong Special Administrative Region of the People's Republic of China ("Hong Kong") whose registered office is at Suite 801, 8/F Asian House, 0 Xxxxxxxx Xxxx, Wanchai, Hong Kong and "Collateral Owner" means any one of them.
Collateral Owners means, together, the Destiny Collateral Owner and the Envoy Collateral Owner and:
Collateral Owners means: (a) each company (being a 100% direct or indirect Subsidiary of the Borrower or the Pledgor) shown as an owner of a Collateral Vessel in Schedule 3; and (b) following a Collateral Substitution, any Replacement Vessel Owner, in each case whilst such company remains party to any Security Documents (each a "Collateral Owner"). "Collateral Substitution" means the replacement of a Collateral Vessel by a Replacement Vessel in accordance with Clause 6.4.2 and Clause 6.5.2. "Collateral Vessels" means: (a) the vessels listed in Schedule 3; and (b) following a Collateral Substitution, any Replacement Vessel, in each case whilst such vessel is (or is about to be) subject to a Mortgage or other Security Documents (each a "Collateral Vessel"). "Collateral Vessel Tranche" means, in relation to each Collateral Vessel, that part of the Loan, up to the Maximum Amount for that Collateral Vessel Tranche, to be advanced to the Borrower, or when the context permits, the amount of the Collateral Vessel Tranche advanced and for the time being outstanding, and together the "Collateral Vessel Tranches". "Commercial Manager" means (i) Teekay Tankers Chartering Pte. Ltd. (ii) the Borrower, (iii) Xxxxxx, (iv) any other member of the Borrower Group or the Teekay Group or (v) any other commercial manager approved by the Lenders (such approval not to be unreasonably withheld). "Commitment" means, in relation to each Lender, the aggregate amount of the Loan which that Xxxxxx agrees to advance to the Borrower as its several liability as indicated against the name of that Lender in Schedule 1, Part I and/or, where the context permits, the amount of the Loan advanced by that Lender and, to the extent not cancelled or reduced under this Agreement, remaining outstanding and "Commitments" means more than one of them. "Commitment Commission" means the commitment commission to be paid by the Borrower to the Agent on behalf of the Lenders pursuant to Clause 9.
Collateral Owners means the companies listed in Schedule 2 under the heading "Collateral Owners" each a company incorporated under the laws of the Hong Kong Special Administrative Region of the People's Republic of China ("Hong Kong") whose registered office is at Suite 801, 8/F Asian House, 1 Hennessy Road, Wanchai, Hong Kong and "Collateral Owner" means any one of them.
Collateral Owners means, together, the Platon Collateral Owners and Zeus and, in the singular, means any of them;