Common use of ISM Code Clause in Contracts

ISM Code. Each Borrower shall, and shall procure that the Manager, the Owners and the Bareboat Charterer shall: (a) at all times after the Delivery Date of a Vessel comply, and be responsible for compliance by itself and by such Vessel, with the ISM Code; (b) at all times after the Delivery Date of a Vessel ensure that: (i) the Vessel has a valid Safety Management Certificate; (ii) the Vessel is subject to a safety management system which complies with the ISM Code; and (iii) there is a valid Document of Compliance for the Vessel, which is held on board the Vessel, and shall deliver to the Lender, on or before the Delivery Date in respect of that Vessel, a copy of a valid Safety Management Certificate and a valid Document of Compliance in respect of the relevant Vessel, in each case duly certified by an officer of the Owner of that Vessel; (c) promptly notify the Lender of any actual or, upon becoming aware of the same, threatened withdrawal of an applicable Safety Management Certificate or Document of Compliance; (d) promptly notify the Lender of the identity of the person ashore designated for the purposes of paragraph 4 of the ISM Code and of any change in the identity of that person; and (e) promptly upon becoming aware of the same notify the Lender of the occurrence of any accident or major non-conformity requiring action under the ISM Code.

ISM Code. Each The Borrower shallwill, and shall procure that the Manager, the Owners each Owner and the Bareboat Charterer Manager shall: (a) at all times after the Delivery Date of a Vessel comply, and be responsible for compliance by itself and by such Vessel, with the ISM Code; (b) at all times after the Delivery Date of a Vessel ensure that: (i) the Vessel has a valid Safety Management CertificateCertificate (as defined in the ISM Code); (ii) the Vessel is subject to a safety management system (as defined in the ISM Code) which complies with the ISM Code; and (iii) there is a valid Document of Compliance (as defined in the ISM Code) for the Vessel, which is held on board the Vessel, and shall deliver to the LenderFacility Agent, on or before the Delivery Date in respect of that Vessel, a copy of a valid Safety Management Certificate and a valid Document of Compliance in respect of the relevant Vessel, in each case duly certified by an officer of the Owner of that Vessel; (c) promptly notify the Lender Facility Agent of any actual or, upon becoming aware of the same, threatened withdrawal of an applicable Safety Management Certificate or Document of Compliance; (d) promptly notify the Lender Facility Agent of the identity of the person ashore designated for the purposes of paragraph 4 of the ISM Code and of any change in the identity of that person; and (e) promptly upon becoming aware of the same notify the Lender Facility Agent of the occurrence of any accident or major non-conformity (as defined in the ISM Code) requiring action under the ISM Code.

ISM Code. Each Borrower shall (and the Guarantor will procure that each Borrower shall), and shall procure that the Manager, the Owners and the Bareboat Charterer shall: (a) at all times after the Delivery Date of a Vessel comply, and be responsible for compliance by itself and by such Vessel, with the ISM Code; (b) at all times after the Delivery Date of a Vessel ensure that: (i) the Vessel has a valid Safety Management Certificate; (ii) the Vessel is subject to a safety management system which complies with the ISM Code; and (iii) there is a valid Document of Compliance for the Vessel, which is held on board the Vessel, and shall deliver to the LenderFacility Agent, on or before the Delivery Date in respect of that Vessel, a copy of a valid Safety Management Certificate and a valid Document of Compliance in respect of the relevant Vessel, in each case duly certified by an officer of the Owner of that Vessel; (c) promptly notify the Lender Facility Agent of any actual or, upon becoming aware of the same, threatened withdrawal of an applicable Safety Management Certificate or Document of Compliance; (d) promptly notify the Lender Facility Agent of the identity of the person ashore designated for the purposes of paragraph 4 of the ISM Code and of any change in the identity of that person; and (e) promptly upon becoming aware of the same notify the Lender Facility Agent of the occurrence of any accident or major non-conformity requiring action under the ISM Code.