Bareboat Charter. The Sellers (as charterers) and the Buyers (as owners) have agreed to enter into a Bareboat Charterparty (the "Bareboat Charter") in respect of the Vessel in the form of the draft attached hereto. The parties agree that payment for and acceptance of the Vessel by the Buyers under this Agreement is subject to the simultaneous delivery to and acceptance of the Vessel by the Sellers as charterers under the Bareboat Charter.
Bareboat Charter. LYC agrees and hereby does charter the Vessel to Charterer “bareboat”. Charterer shall, at his/her own expense, crew, maintain, navigate, operate, provision, and supply the Vessel and shall have full control over the Vessel within the terms and conditions of this Charter.
Bareboat Charter. (a) Pursuant to the Bareboat Charter Party of even date between the Buyers (as owners) and the Sellers (as charterers) (as the same may be amended, supplemented and varied from time to time, the "Bareboat Charter"), the Buyers have agreed to let and the Sellers have agreed to hire the Vessel upon and subject to the terms and conditions therein.
(b) The Sellers’ obligation to sell the Vessel to the Buyers and the Buyers’ obligation to purchase the Vessel from the Sellers pursuant to this Agreement is conditional upon and subject to the execution of the Bareboat Charter by both the Sellers and Buyers simultaneously with this Agreement.
(c) The Buyers shall simultaneously with the delivery of the Vessel under this Agreement, be obliged to deliver the Vessel to the Sellers upon and subject to the terms of the Bareboat Charter.
Bareboat Charter. (a) Subject to the consent of the Maritime Administrator, Perforadora and Xxxxxx hereby agree that the Bareboat Charter shall terminate on the Effective Date and no further action on behalf of the Perforadora Entities or Xxxxxx shall be required to effect such termination; PROVIDED, HOWEVER, that, upon such termination (and notwithstanding anything to the contrary contained in the Bareboat Charter), the following provisions shall apply: (a) the Bareboat Charter shall be deemed to have terminated as of the date hereof and a final accounting shall be made in accordance with the terms of the Bareboat Charter as if it had been terminated on the date hereof and (b) Xxxxxx shall be deemed to have been the "Owner" of the Rig under the Bareboat Charter from and after the date hereof and, consequently, all of the revenues from, and expenses (including debt service with respect to the Title XI Bonds) of, operating the Rig under the Bareboat Charter from and after the date hereof shall be for the account of Xxxxxx. On the Effective Date, Perforadora shall repay to Xxxxxx all Hire and Supplemental Hire paid by Chiles under the Bareboat Charter for all periods after the date hereof; PROVIDED, HOWEVER, that if Perforadora shall have made any payments of debt service on the Title XI Bonds due after the date hereof, then the aggregate amount of such payments shall be deducted from the amount to be repaid by Perforadora to Xxxxxx on the Effective Date and, PROVIDED FURTHER, that, if the aggregate Hire and Supplemental Hire paid by Chiles under the Bareboat Charter for all periods after the date hereof is less than the aggregate amount of all such payments of debt service on the Title XI Bonds made by Perforadora, then Xxxxxx shall pay to Perforadora on the Effective Date the difference between such aggregate amount of payments on the Title XI Bonds and the aggregate Hire and Supplemental Hire paid by Xxxxxx under the Bareboat Charter. Nothing contained herein shall release the parties to the Bareboat Charter from any liability for a breach thereof prior to the Effective Date (it being understood and agreed that Perforadora shall be liable for any breach as the Owner thereunder on or prior to the Effective Date notwithstanding any transfer of the Transferred Assets and Transferred Liabilities contemplated hereby).
(b) Notwithstanding anything to the contrary contained in Section 5.04(a) but subject to the consent of the Maritime Administrator, Xxxxxx and Perforadora agree t...
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Bareboat Charter. Evidence satisfactory to the Agents that the Head Charterer has accepted delivery of the Rig on the Charter Date of Acceptance under the Bareboat Charter and that the Bareboat Charter is in full force and effect.
Bareboat Charter. From the date of this Agreement until payment in full of the Secured Obligations, and notwithstanding the failure to pay the Bareboat Charter Fee at any time or from time to time, MJQ and ITG shall maintain the Bareboat Charter in full force and effect at all times and shall not terminate, cancel or modify, or permit the expiration or non- renewal of, the Bareboat Charter without the prior written consent of the Trustee.
Bareboat Charter. If the Bareboat Charter is terminated, cancelled or repudiated or is not in force at any time during the period of its duration or if the Bareboat Charterer defaults in the performance of any of its material obligations under or pursuant to the Bareboat Charter.
Bareboat Charter. In consideration of the rental fees and strict adherence to this Rental Agreement, LESSEE shall be permitted to utilize the watercraft and equipment on a “bareboat charter” basis. LESSEE is free to designate or hire, at LESSEE’s own expense and direction, a captain and/or crew of their own choosing. However, any captain and/or crew hired or designated by LESSEE must be identified and included as a LESSEE on this Rental Agreement, and shall be physically and mentally fit and legally allowed to operate the rented watercraft consistent with this Rental Agreement. Such captain and/or crew shall not be considered employees or under the direction of LESSOR.
Bareboat Charter. Owner agrees to let, and the Charterer agrees to bareboat charter the Vessels from 0800 hours on Friday June 16, 2023 until 1800 hours on Sunday June 18, 2023, plus any Owner-designated practice times (the “Charter Period”) for use by Xxxxxxxxx to participate in the 2023 Lipton Cup event (the “Event”). The total sum for this bareboat charter is Five Hundred dollars ($500.00) and other valuable consideration due and payable prior to the commencement of the Charter Period (the “Charter Hire”).
