Newbuilding Contracts definition

Newbuilding Contracts means (A) the shipbuilding contracts respectively entered into individually between each of SPV 1, SPV 2, SPV 3, SPV 4 and SPV 5 with Daewoo Shipbuilding & Marine Engineering Co., Ltd. (“DSME Builder”), for the construction and purchase of an 300,000 TDW Crude Oil Tanker with, respectively, DSME Builder’s hull numbers 5404 (to be purchased by SPV 1), 5405 (to be purchased by SPV 2), 5406 (to be purchased by SPV 3), 5407 (to be purchased by SPV 4) and 5408 (to be purchased by SPV 5), dated December 13, 2013 (as the same have been amended, supplemented from time to time (including any side letters and addenda)); and (B) the shipbuilding contracts respectively entered into individually between each of SPV 6 and SPV 7 with Hyundai Samho Heavy Industries Co., Ltd. (“HHI Builder”) for the construction and purchase of an 300,000 DWT Crude Oil Carrier with respectively, HHI Builder’s hull numbers S777 (to be purchased by SPV 6) and S778 (to be purchased by SPV 7), dated December 20, 2013 (as the same have been amended, supplemented from time to time (including any side letters and addenda)).
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Newbuilding Contracts means twelve separate shipbuilding contracts to which the Subsidiaries, as of the date hereof, are parties to with New Times, each of which sets out the terms for the construction and delivery of one Newcastlemax bulk vessel of 210,000 dwt by New Times to a Subsidiary, and any further newbuilding contract to be entered into by the Group.
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Newbuilding Contracts means Newbuilding Contract No. 1, Newbuilding Contract No. 2, Newbuilding Contract No. 3, Newbuilding Contract No. 4, Newbuilding Contract No. 5, Newbuilding Contract No. 6, Newbuilding Contract No. 7, or as many of them as the context requires. "Olympics" shall mean the Xxxxxxxx Islands flag Suezmax tanker vessel "Athenian Olympics" owned by Deep Seas Company Ltd. more particularly described in Schedule I. "Owners Nominated Supervisor" shall mean the person or persons nominated by the relevant Seller pursuant to Article 4 Clause 1 thereof to be a "Buyer's Representative" under any relevant Shipbuilding Contract. "Petrobras" shall mean Petroleo Brasiliero S.A. - Petrobras of Rio de Janeiro, Brazil. "Purchase Price" shall mean the purchase price payable by OMI (or the relevant Buyer) to the relevant Sellers in respect of each Vessel or Newbuilding as provided in Clause 6. "Refund Guarantees" shall mean the refund guarantees issued by KOEXIM pursuant to Article X.Clause 8 of each Newbuilding Contract in favour of the relevant Seller and "Refund Guarantee" shall mean the relevant one of them. "Sellers" shall mean the companies listed in Schedule I as owners of the Vessels and as "BUYERS" under the Newbuilding Contracts, each a company incorporated in Liberia and having its registered offices at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxx. "Side Agreement" and "Side Agreements" shall mean the series of side agreements each dated 21st November 2002 and made between each of the relevant Sellers as buyers for the first part and the Builder of the second part, in connection with each of the Newbuilding Contracts, and pursuant to which both parties have agreed that the Contract Price payable under the relevant Newbuilding Contract includes the amount of US Dollars Eight Hundred and Nineteen Thousand (US$819,000) as a reserve fund (the "Reserve Fund") for the payment of extra costs, if any, which may be incurred and payable by the Seller as buyer in respect of technical modifications to the Vessel during construction. The Reserve Fund or the balance thereof after paying such extra costs (if any) payable by the Sellers as buyers to the Builder pursuant to the relevant Newbuilding Contract shall be credited or paid to the Seller as buyer in respect of each Vessel on delivery in accordance with the terms and conditions of the relevant Side Agreement. "ST Shipping" shall mean ST Shipping and Transport Inc. of Baar, Switzerland. "Umbrella Agreement" shall mean the umbrella agreem...
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Examples of Newbuilding Contracts in a sentence

  • Any descriptions of the terms of the MoAs, the Newbuilding Contracts, the Charters and the Credit Facilities, as applicable, that are contained in the Registration Statement, the General Disclosure Package and the Prospectus are accurate and fair in all material respects.

  • History and Development of the Company - Vessel Acquisitions, Disposals, Redeliveries and Newbuilding Contracts of the Company" for discussion on acquisitions and disposals of vessels.

  • Also see section 5.10 “The Newbuilding Contracts” for an overview of the commitments of the Company related to the Newbuilding Contracts.

  • Any descriptions of the terms of the Newbuilding Contracts, the Charters and the Credit Facilities, as applicable, that are contained in the Registration Statement, the Pricing Disclosure Package and the Prospectus are accurate and fair in all material respects.

  • The Registration Statement, the General Disclosure Package and the Prospectus contain a summary of the terms of the MoAs, the Newbuilding Contracts, the Charters and the Credit Facilities, which summaries are accurate and fair in all material respects.

  • Our Newbuilding Contracts We have entered into a newbuilding contract for each of the newbuilding vessels in our Newbuilding Program with the shipyard constructing the vessel.

  • On 15 March 2017, the Company signed a heads of agreement with Keppel for the novation of the Keppel Newbuilding Contracts to designated subsidiaries of the Company and various amendments to the terms thereof (the price, payment terms and delivery dates).

  • The net proceeds from the October Private Placement will be used to finance the pre-delivery instalments under the PPL Newbuilding Contracts and the PPL SPAs (USD 502 million) and general corporate purposes (including working capital).

  • The consideration due from the Company to Transocean in the Transocean Transaction consisted of a cash payment at closing (part of which had been paid earlier by way of a deposit), the assumption by the Company (through subsidiaries) of Transocean's rights and obligations under the Keppel Newbuilding Contracts and an amount equal to the actual remaining revenue (after operating expenditures) under the Transocean Bareboat Charters for the remainder of their terms.

  • The Registration Statement, the General Disclosure Package and the Prospectus each contains a summary of the terms of each of the MoAs, the Newbuilding Contracts, the Charters, the Credit Facilities, the Stockholder Rights Agreement and the Transaction Documents, which summaries are accurate and fair in all material respects.


More Definitions of Newbuilding Contracts

Newbuilding Contracts means each of the agreements entered into between the Group and the respective shipyard for the building of vessels of the XXX.XXXX Fleet.
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Newbuilding Contracts means the three (3) shipbuilding contracts listed on Exhibit B of the Credit Agreement Amendment, as such contracts are in effect as of the Effective Date.
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Newbuilding Contracts means Newbuilding Xxxxxxxx Xx. 0, Xxxxxxxxxxx Xxxxxxxx Xx. 0, Xxxxxxxxxxx Xxxxxxxx Xx. 0, Xxxxxxxxxxx Xxxxxxxx Xx. 0, Xxxxxxxxxxx Xxxxxxxx Xx. 0, Xxxxxxxxxxx Xxxxxxxx Xx. 0, Xxxxxxxxxxx Xxxxxxxx No. 7, or as many of them as the context requires.
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Newbuilding Contracts means the (i) Contract for the Construction and Sale of Hull 1837 by and between Hydra Owners and Samsung Heavy Industries Co., Ltd. and (ii) the Contract for the Construction and Sale of Hull 1838 by and between Paros Owners and Samsung Heavy Industries Co., Ltd., each dated September 17, 2007. Orders means judgments, writs, decrees, compliance agreements, injunctions, rules, awards, settlement agreements or orders of any Governmental Body or arbitrator. Person means any individual, firm, corporation, partnership, limited liability company, joint venture, association, trust, unincorporated organization, government or agency or subdivision thereof or any other entity. Proceeding means an action, suit, litigation, claim, investigation, legal, administrative or arbitration proceeding.
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Related to Newbuilding Contracts

  • Building Contract means a contract entered under Transportation Code, Chapter 223, Subchapter A for the construction or maintenance of a Department building or appurtenant facilities and considered to be a Highway Improvement Contract as defined in Texas Administrative Code, § 9.11.

  • Shipbuilding Contract means the shipbuilding contract dated 30 March 2011 and made between the Builder and the Borrower for the construction by the Builder of the Ship and its purchase by the Borrower as supplemented and amended from time to time;

  • Construction Contracts means the contracts between Lessee and Contractors for the furnishing of labor, services or materials to the Leased Premises in connection with the construction of the Improvements.

  • Building Contractor means the building contractor or developer appointed or to be appointed by the Grant Recipient in respect of a Firm Scheme; Business Day means any day other than a Saturday, Sunday or a statutory Bank Holiday in England;

  • Existing Contracts means the existing licenses and contracts given by the Railway Administration / Authority, in relation to commercial establishments, as existing on Station Development Land, as on the date of the Agreement, and as further set out in the Schedules, which shall, for avoidance of doubt, exclude any licenses and/ or contracts in relation to any Excluded Activities and/or Railway Operational Activities;

  • Project Contracts means collectively this Agreement, the Land Lease Agreement, the Construction Contract, O&M Contracts (if any) and any other material contract (other than the Financing Documents) entered into or may hereafter be entered into by the Concessionaire in connection with the Project;

  • Construction Contract or “contract” means a written agreement between a contractor and a public agency for the construction, alteration, demolition, or repair of a facility, other than a contract having a dollar value of less than $30,000.00 or a contract that provides for 3 or fewer payments.

  • Financial Contracts means any arrangement that:

  • Initial Contracts means those Contracts conveyed to the Trust on the Closing Date.

  • New Contracts means binding new agreements or amendments to existing agreements with customers.

  • Fleet Vessels means all of the vessels (including, but not limited to, the Ships) from time to time wholly owned by members of the Group (each a “Fleet Vessel”);

  • IT Contracts means all material agreements or arrangements (whether or not in writing and including those currently being negotiated) under which any third party (including, without limitation, any source code deposit agent) provides or will provide any element of, or services relating to, the IT Systems, including leasing, hire purchase, licensing, maintenance, website hosting, outsourcing, security, back-up, disaster recovery, insurance, cloud computing and other types of services agreements.

  • Vessels shall have the meaning set forth in the recitals.

  • Hotel Contracts shall have the meaning set forth in Section 10.2(d).

  • Existing Contract means a contract that was made before the operative date;

  • Charter contract or "contract" means a fixed-term, renewable contract between a

  • CFD Contract or "CFD" shall mean a contract which is a contract for difference by reference to fluctuations in the price of the relevant security or index;

  • Construction Plant means appliances, machinery with necessary supply to up keep and maintenance of the works or temporary works but dose not include materials or other things intended to form part of the permanent work.

  • Architect’s Contract means Lessee's contract with the Project Architect.

  • Construction Contractor means a person who undertakes to or offers to undertake to, or purports to have the capacity to undertake to, or submits a bid to, or does himself or by or through others, construct, alter, repair, add to, subtract from, improve, move, wreck, or demolish any building, highway, road, railroad, excavation, or other structure, project, development, or improvement to real property, or to do any part thereof. "Construction contractor" includes subcontractors, specialty contractors, prime contractors, and any person receiving consideration for the general supervision and/or coordination of such a construction project except for remediation contracting. This definition shall govern without regard to whether or not the construction contractor is acting in fulfillment of a contract.

  • Oil and Gas Hedging Contracts means any oil and gas purchase or hedging agreement, and other agreement or arrangement, in each case, that is designed to provide protection against oil and gas price fluctuations.

  • Concession Contract means a contract for pecuniary interest concluded in writing between one or more economic operators and one or more contracting authorities within the meaning of Articles 168 and 172, in order to entrust the execution of works or the provision and management of services to an economic operator (the ‘concession’). The remuneration shall consist either solely in the right to exploit the works or services or in that right together with payment. The award of a concession contract shall involve the transfer to the concessionaire of an operating risk in exploiting those works or services encompassing demand risk or supply risk, or both. The concessionaire shall be deemed to assume an operating risk where, under normal operating conditions, there is no guarantee of recouping the investments made or the costs incurred in operating the works or the services at stake;

  • existing vessel means a vessel which is not a new vessel;

  • Continuing Contract means a contract for Professional Services entered into in accordance with Section 287.055 of the Florida Statutes, between the District and a firm, whereby the firm provides Professional Services to the District for projects in which the costs do not exceed two million dollars ($2,000,000), for a study activity when the fee for such Professional Services to the District does not exceed two hundred thousand dollars ($200,000), or for work of a specified nature as outlined in the contract with the District, with no time limitation except that the contract must provide a termination clause (for example, a contract for general District engineering services). Firms providing Professional Services under Continuing Contracts shall not be required to bid against one another.

  • Relevant Contracts means the contracts for each shipper who is delivering Gas to the Inlet Point on that day.

  • Business Contracts has the meaning ascribed to it in Section 1.01(a)(v).