Common use of Information regarding the Vessel Clause in Contracts

Information regarding the Vessel. The Borrower will at all times: (a) promptly notify the Agent of the occurrence of any accident, casualty or other event which has caused or resulted in or may cause or result in the Vessel being or becoming a Total Loss; (b) promptly notify the Agent of any requirement or recommendation made by any Insurer or classification society or by any competent authority which is not complied with in a timely manner; (c) give to the Agent from time to time on request such information as the Agent may require regarding the Vessel, her employment, position and engagements; (d) provide the Agent on request with copies of the classification certificate of the Vessel and of all periodic damage or survey reports on the Vessel; (e) promptly furnish the Agent with full information of any casualty or other accident or damage to the Vessel involving an amount in excess of euro 5,000,000 (or equivalent); (f) give to the Agent and its duly authorised representatives reasonable access to the Vessel for the purpose of conducting on board inspections and/or surveys of the Vessel and pay the reasonable expenses incurred by the Agent in connection with the inspections and/or surveys provided that, unless a Default has occurred and is continuing, such inspections and/or surveys shall not take place at the expense of the Borrower other than at dry docking and the Agent shall co-operate with the Borrower in respect of the timing for and the place where such surveys take place in order to minimise disruption to the activities of the Vessel; (g) if the Agent reasonably believes an Event of Default may have occurred, furnish to the Agent from time to time upon reasonable request certified copies of the ship’s log in respect of the Vessel; (h) promptly notify the Agent if a Charterer pays hire, on three (3) consecutive occasions, at a rate that represents a reduction of 25% or more on the full rate of hire; and (i) promptly notify the Agent of any circumstance where the Vessel is off-hire for a period in excess of thirty (30) days unless the period of off-hire is the result of a scheduled dry-docking of the Vessel.

Information regarding the Vessel. The Borrower will at all timestimes after the Delivery Date: (a) promptly notify the Agent of the occurrence of any accident, casualty or other event which has caused or resulted in or may cause or result in the Vessel being or becoming a Total Loss; (b) promptly notify the Agent of any requirement or recommendation made by any Insurer or classification society or by any competent authority which is not complied with in a timely manner; (c) promptly notify the Agent of any intended dry docking of the Vessel; (d) promptly notify the Agent of any Environmental Claim being made in connection with the Vessel or its operation; (e) promptly notify the Agent of any claim for breach of the ISM Code being made in connection with the Vessel or its operation; (f) give to the Agent from time to time on request such information as the Agent may require regarding the Vessel, her employment, position and engagements; (dg) provide the Agent on request with copies of the classification certificate of the Vessel and of all periodic damage or survey reports on the Vessel; (eh) promptly furnish the Agent with full information of any casualty or other accident or damage to the Vessel involving an amount in excess of euro 5,000,000 2,500,000 (or equivalent); (fi) give to the Agent and its duly authorised representatives reasonable access to the Vessel for the purpose of conducting on board inspections and/or surveys of the Vessel and pay the reasonable expenses incurred by the Agent in connection with the inspections and/or surveys provided that, unless a Default has occurred and is continuing, such inspections and/or surveys shall not take place at the expense of the Borrower other than at dry docking and the Agent shall co-operate with the Borrower in respect of the timing for and the place where such surveys take place in order to minimise disruption to the activities of the Vessel;; and (gj) if the Agent reasonably believes an Event of Default may have occurred, furnish to the Agent from time to time upon reasonable request certified copies of the ship’s 's log in respect of the Vessel; (h) promptly notify the Agent if a Charterer pays hire, on three (3) consecutive occasions, at a rate that represents a reduction of 25% or more on the full rate of hire; and (i) promptly notify the Agent of any circumstance where the Vessel is off-hire for a period in excess of thirty (30) days unless the period of off-hire is the result of a scheduled dry-docking of the Vessel.