Common use of Calculation of Regasified LNG Discharge Compensation (P/R) Clause in Contracts

Calculation of Regasified LNG Discharge Compensation (P/R). The compensation due from Owner to Charterer as a result of the Vessel or Owner not meeting the applicable ordered discharge rate 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. EHR = the resulting excess hours (including parts thereof), calculated as the amount, if any, by which RDR, subject always to the exceptions provided in section 16.3 of this Charter, failed to meet the applicable ordered discharge rate, with EHR to be calculated as follows: ***** where: ADT = actual discharge time as calculated in accordance with section Error! Reference source not found. as the time period commencing when the last high pressure pump required to achieve the ordered discharge rate is placed on line and terminating when the first high pressure pump is secured near the end of the discharge cycle. AVD = actual volume discharged shall be the volume of regasified LNG discharged during ADT as measured by the Vessel’s meter. ODR = applicable ordered discharge rate per hour; provided such rate is equal to or less than the applicable guaranteed discharge rate. 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 (*****). The discharge rate is based on LNG chemical composition Trinidad LNG and shall be corrected for the actual LNG composition.

Calculation of Regasified LNG Discharge Compensation (P/R). The compensation due from Owner to Charterer as a result of the Vessel or Owner not meeting the applicable ordered discharge rate 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. EHR = the resulting excess hours (including parts thereof), calculated as the amount, if any, by which RDR, subject always to the exceptions provided in section 16.3 of this Charter, failed to meet the applicable ordered discharge rate, with EHR to be calculated as follows: ***** where: ADT = actual discharge time as calculated in accordance with section Error! Reference source not found. 16.3 as the time period commencing when the last high pressure pump required to achieve the ordered discharge rate is placed on line and terminating when the first high pressure pump is secured near the end of the discharge cycle. AVD = actual volume discharged shall be the volume of regasified LNG discharged during ADT as measured by the Vessel’s meter. ODR = applicable ordered discharge rate per hour; provided such rate is equal to or less than the applicable guaranteed discharge rate. The discharge rate is based on LNG chemical composition Trinidad LNG and shall be corrected for the actual LNG composition. 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 (*****). The discharge rate is based on LNG chemical composition Trinidad LNG and shall be corrected for the actual LNG composition.