Common use of Calculation of Discharge Compensation (P/D) Clause in Contracts

Calculation of Discharge Compensation (P/D). The compensation due from Owner to Charterer as a result of the Vessel or Owner not meeting the guaranteed discharge time specified in Schedule I of this Charter shall be the amount calculated as follows : ***** where: RPH = the hourly time charter rate, calculated as the average Hire Rate during the relevant Performance Period, divided by 24 hours. EHD = the excess hours (including parts thereof), calculated as the amount, if any, by which the ADT for the relevant voyage, subject always to the exceptions provided in section 16.3 of SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH FIVE ASTERISKS (*****). this Charter, exceeds the guaranteed discharge time as specified in Schedule I of this Charter.

Calculation of Discharge Compensation (P/D). The compensation due from Owner to Charterer as a result of the Vessel or Owner not meeting the guaranteed discharge time specified in Schedule I of this Charter shall be the amount calculated as follows : ***** where: RPH = the hourly time charter rate, calculated as the average Hire Rate during the relevant Performance Period, divided by 24 hours. EHD = the excess hours (including parts thereof), calculated as the amount, if any, by which the ADT for the relevant voyage, subject always to the exceptions provided in section 16.3 of SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH FIVE ASTERISKS (*****). subject always to the exceptions provided in section Error! Reference source not found. of this Charter, exceeds the guaranteed discharge time as specified in Schedule I of this Charter.