Compliance with the ISM Code Sample Clauses

The 'Compliance with the ISM Code' clause requires that the parties involved, typically shipowners or operators, adhere to the International Safety Management (ISM) Code, which sets standards for the safe management and operation of ships. This means that vessels must maintain valid ISM certification and follow safety management procedures, such as regular audits and documentation of safety practices. By mandating compliance, the clause ensures that ships operate safely and legally, reducing the risk of accidents and regulatory penalties.
Compliance with the ISM Code. Procure that the Approved Manager and any Operator: (a) will comply with and ensure that the Vessel and any Operator by no later than the Drawdown Date complies with the requirements of the ISM Code, including (but not limited to) the maintenance and renewal of valid certificates pursuant thereto throughout the Security Period; (b) immediately inform the Bank if there is any threatened or actual withdrawal of the Borrower's, the Approved Manager's or an Operator's DOC or the SMC in respect of the Vessel; and (c) promptly inform the Bank upon the issue to the Borrower, the Approved Manager or any Operator of a DOC and to the Vessel of an SMC or the receipt by the Borrower, the Approved Manager or any Operator of notification that its application for the same has been realised.
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Compliance with the ISM Code. The Owner covenants to procure that any Operator will: (a) comply with and ensure that the Vessel and any Operator always complies with the requirements of the ISM Code, including (but not limited to) the maintenance and renewal of valid certificates pursuant thereto throughout the Security Period; (b) immediately inform the Mortgagee if there is any threatened or actual withdrawal of the Owner’s or any Operator’s or DOC or the SMC in respect of the Vessel; and (c) promptly inform the Mortgagee upon the issue to the Owner or any Operator of a DOC and to the Vessel of an SMC or the receipt by the Owner or any Operator of notification that its application for the same has been realised;
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Compliance with the ISM Code each Vessel and the Operator complies with the requirements of the ISM Code and the SMC which has been be issued in respect of each relevant Vessel shall remain valid throughout the Security Period;
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Compliance with the ISM Code the Vessel and any Operator complies or will on the drawdown of the Commitment (or any part thereof) comply with the requirements of the ISM Code;
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Related to Compliance with the ISM Code

  • Compliance with the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act There is and has been no failure on the part of the Company or any of the Company’s directors or officers, in their capacities as such, to comply in all material respects with any provision of the ▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules and regulations promulgated in connection therewith (the “▇▇▇▇▇▇▇▇-▇▇▇▇▇ Act”), including Section 402 related to loans and Sections 302 and 906 related to certifications.

  • Compliance with the Law The Parties agree to comply fully with all applicable federal, state, and local statutes, ordinances, rules, and regulations applicable to their entity in connection with the programs contemplated under this Agreement.

  • Compliance with the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act There is and has been no failure on the part of the Company or any of the Company’s directors or officers, in their capacities as such, to comply in all material respects with any provision of the S▇▇▇▇▇▇▇-▇▇▇▇▇ Act of 2002 and the rules and regulations promulgated in connection therewith (the “S▇▇▇▇▇▇▇-▇▇▇▇▇ Act”), including Section 402 related to loans and Sections 302 and 906 related to certifications.

  • COMPLIANCE WITH THE ACT All matters related to the operations of the Company not specifically addressed herein must be addressed in accordance with the Act. The Company must comply with all other provisions of the Act in order to stay compliant with the law.

  • Compliance with the FDIC Rule The Seller agrees to (i) perform the covenants set forth in Article XII of the Indenture applicable to it and (ii) facilitate compliance with Article XII of the Indenture by the Ally Parties.