CHARTER HIRE Sample Clauses
The Charter Hire clause defines the payment terms and obligations for the hire of a vessel under a charter party agreement. It specifies the amount of hire to be paid, the frequency and method of payment, and any adjustments or deductions that may apply, such as for off-hire periods when the vessel is unavailable. This clause ensures both parties have a clear understanding of the financial arrangements, reducing the risk of disputes over payment and providing a predictable framework for the vessel's use.
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CHARTER HIRE. 9.1 The Charterer shall pay to the Owner for the hire of the Vessel, the net bareboat hire (“Charter Hire”) of;
a. US$ 305,500 per day for the first twelve month period from commencement of Charterer’s earning of ordinary day rate from Esso under the Esso Drilling Contract.
b. US$ 332,000 per day after period under a) has come to an end until expiry or termination of this Charter.
c. For the duration of this charter under the Assignment Contract, the Charter Hire will be modified to US$ 278,600 from commencement of Charterer’s earning ordinary dayrate upon arrival in Canada.
d. Esso has agreed to compensate the Assignee for moving the Vessel from Vietnam to Canada, for the costs of modification to the Vessel preparing it to work in Canada, and for the costs to supply additional equipment on the Vessel. This compensation is referred to as the “mobilization fee” in the Assignment. The net financial result of the mobilisation fee (after deduction of all relevant costs) will be split by 90% to Charterer and 10% to the Assignee. The net mobilization fee received by Charterer will then further be split by 90% to Owner and 10% retained by Charterer. The reduced rate Charter Hire under a) takes into consideration anticipated lower economic utilisation of the Vessel due to required fine-tuning of the Vessel’s equipment to get the Vessel fully operational.
9.2 Charterer agrees to be liable for all taxes or withholdings of any nature whatsoever, together with any penalties or interest thereon (herein collectively called “Taxes”) imposed upon, withheld from or assessed against Owner or Charterer by any national or local government or taxing authority of any country upon or with respect to or measured by income or earnings of the Vessel or the Charter Hire. Charterer shall not be liable for any Taxes which (i) are imposed by the government of the country under which the Owner is organized or any political subdivision thereof and are imposed upon or in respect of or measured by the Charter Hire or (ii) shall result wholly from action taken by the Owner not related to the transactions contemplated hereby or (iii) are imposed for any period, or with respect to any act, occurring after expiration or earlier termination of this Charter. Upon request of Owner, Charterer agrees to cooperate reasonably with Owner to minimize taxes to be borne by Owner, and, upon request of Charterer, Owner agrees to cooperate reasonably with Charterer to minimize Taxes to be borne by Charterer...
CHARTER HIRE. Charterer agrees to pay Owner Charter Hire in the total sum of Charter fee prior to taking delivery of the Yacht, receipt of which is hereby acknowledged.
CHARTER HIRE. The CHARTERER shall pay the OWNER during the Charter Term, Charter Hire a daily rate of [*] (the “Charter Hire”). The CHARTERER shall pay the Charter Hire by wire transfer in monthly installments as directed by the OWNER, or such other manner as may be agreed to by the parties.
CHARTER HIRE. (a) The Charterer shall during the Charter Period pay Charter Hire to the Owners in arrears, in the amounts calculated in accordance with, and on the respective Payment Dates specified in, Schedule 4.
(b) Following a Total Loss with respect to the Vessel, so long as the Charterer shall have performed its obligations and paid all amounts payable under Clause 16(b) in full, the Charterer’s obligation to pay Charter Hire with respect to the Vessel shall cease.
(c) Schedules 4, 5, 6 and Schedule 8 have been prepared or provided on the assumptions that (i) the Charter Commencement Date will be on 17 September 2025, (ii) the Loan up to one hundred twenty-five million U.S. dollars (US$125,000,000) will be utilised and (iii) the interest rate of the Loan shall be the loan margin of 1.50% p.a, plus applicable term SOFR (Secured Overnight Financing Rate). As soon as practicable on or prior to the Charter Commencement Date substitute schedules that reflect the actual Charter Commencement Date, the actual Vessel Cost and the amount of the Loan which has been utilised, the corresponding changes of each Payment Date and each principal repayment amount shall be prepared by the Representative Owner and approved by the Charterer and the Agent (acting on the instructions of all Lenders), which shall be attached to the Charterparty Supplement as annexes thereto, and such schedules shall replace Schedules 4, 5, 6 and Schedule 8 as of the date hereof attached hereto and thereafter shall become Schedules 4, 5, 6 and Schedule 8 for the purpose of this Agreement.
CHARTER HIRE. 38.1 The Charterers shall throughout the Charter Period pay charter hire (“Charter Hire”) to the Owners, calculated at the daily rate of:
(i) USD 16,750 per day pro rata for the first 24 months of the Charter Period;
(ii) USD 14,000 per day pro rata for months 25 — 48 of the Charter Period; and
(iii) USD 10,000 per day pro rata for months 49 — 60 of the Charter Period.
38.2 Charter Hire shall be paid continuously throughout the Charter Period from (and including) the first day of the Charter Period through (and including) the last day of the Charter Period. The Charterers shall pay hire due to the Owners in accordance with the terms of this Charter. The Charter Hire shall be payable monthly in advance, on each of the below described payment dates.
38.2.1 The first Payment Date shall be the Delivery Date covering on a pro rata basis the remaining number of days in that month, and the second and subsequent Payment Dates shall be on 5th in every calendar month thereafter (each such date being hereinafter called each the “Payment Date” and collectively the “Payment Dates”).
38.2.2 The amount of Charter Hire due on each of the Payment Dates shall be the amount calculated by multiplying the daily rate by the number of days from and including the relevant Payment Date through and including the day immediately preceding the next following Payment Date or, in the case at the last Payment Date, through and including the last day of the Charter Period.
38.3 Notwithstanding anything to the contrary contained in this Charter, all payments due by the Charterers hereunder (whether by way of hire or otherwise) shall be made as follows:-
38.3.1 (in the case of Charter Hire) on the relevant Payment Date or (in the case of other sums) on their respective due dates or within 3 Banking Days of demand (as the case may be);
38.3.2 in United States Dollars in funds with the same day value and free and clear of any bank charges to the account of the Owners, BIC/SWIFT: ▇▇▇▇▇▇▇▇, IBAN: DK75 3000 3238 0053 02. For the avoidance of doubt, the fund must be arrived and credited to the bank account specified above by 15:00 CET of the relevant Payment Day or to such other bank as may from time to time be notified by the Owners to the Charterers by not less than three (3) Banking Days’ prior written notice; and
38.3.3 if any day for the making of any payment hereunder shall not be a Banking Day, the due date for payment of the same shall be the next following Banking Day; provided that if ...
CHARTER HIRE. 3.1 The Sub-Charterer shall pay to Intracoastal Marine, LLC at: for the use and hire of the Vessel for and during the whole of the initial Charter Term, Charter Hire in the amount set forth in the Specifications. Such Charter Hire shall be paid monthly in advance and payable commencing with the first day of the first month following delivery of the Vessel.
3.2 All sums due under this Charter Party by way of Charter Hire, if unpaid when due, shall bear interest from the date it became due under this Charter Party until paid in full at an annual rate of twelve (12) percent. All sums due under this Charter Party other than by way of Charter Hire, if unpaid when due, shall bear interest from the date upon which Intracoastal Marine, LLC sends written notice to Sub-Charterer, setting forth the nature and amount of such unpaid sums, until such time as the same shall be fully paid at an annual rate of twelve (12) percent.
3.3 Any provision of this Charter Party to the contrary notwithstanding, no notice given by Sub-Charterer purporting to affect the term of this Charter Party shall be effective for that purpose, nor relieve Sub-Charterer from its duties and obligations hereunder, nor abrogate the provisions of this Charter Party relating to automatic extension of the Charter Term above, unless at or prior to the time such notification Sub-Charterer shall have paid in full all sums then due by way of Charter Hire in accordance with the foregoing provisions of this Section 3.
CHARTER HIRE. A. AMOUNT The Charter Hire payable pursuant to this Agreement, for any period, shall be determined on a monthly basis by subtracting from all revenues earned by Charterer in connection with the ownership or operation of the Vessel during such period, the sum of Predetermined Expenses during such period. Predetermined Expenses for any period shall consist in their entirety of UK 18,209 per day for operating expenses during such period. If the results of the proceeding subtraction are positive, the positive amount so determined shall be Charter Hire payable by Charterer to Owner in accordance with Article 4B below. If the results of the proceeding subtraction are negative, the negative amount so determined shall be carried over to the next period and netted with the revenues from such future period. Charterer will be reimbursed for Dry Docking Expenses as provided in the Loan Agreement and the Collateral Assignment.
CHARTER HIRE. During the Charter Term the Charterer shall pay the Owner hire (“Charter Hire”) calculated in accordance with the following formula which shall be payable at the end of each calendar month in accordance with Appendix 1: Charter Hire = [*] Note: Stipulated Value shall have an initial value of [*] and shall, for the purpose of calculating Charter Hire throughout the Charter Term, be reducing monthly at the rate of [*]. All Charter Hire payments shall be made by wire transfer to such account as the Owner may from time to time direct. For the avoidance of doubt, Appendix 1 shall govern and control all payment s made hereunder.
CHARTER HIRE. The Charterer will pay Owner THE CHARTER RATE of $250 PER HOUR quoted in the lawful currency of the United States of America, for non-‐peak dates. The CHARTER RATE for holidays, peak dates and charters less than the 3-‐hour minimum private charter PACKAGE IS $325 PER HOUR. The Charterer will pay Owner THE GAS RATE of $150 PER CHARTER TERM not to exceed more than 4 hours. Additional hours will be charged at a rate of $25 PER HOUR. SECURITY DEPOSIT: $150.00 DATE OF LAST CHARTER PAYMENT: 24hrs prior to departure. Said compensation shall be paid as follows: Payment shall be in cash, electronic bank wire transfer to BIP Boating or through a credit card payment made on ▇▇▇▇▇://▇▇▇▇▇▇▇▇▇▇.▇▇▇
CHARTER HIRE. Monthly Variable Hire is calculated from the number of the days in any relevant month, and daily variable hire in accordance with the following formula: Monthly Variable Hire = Daily Variable Hire x the number of the days in the relevant month Daily Variable Hire = Charter Principal Balance x (2.11448% + one (1) month CME TERM SOFR as applicable for the month in respect of which such Daily Variable Hire is to be calculated) / 360 Applicable one (1) month CME TERM SOFR to be confirmed fourteen (14) Banking Days prior to hire due date. The Owners shall notify the Charterers in writing of the Monthly Variable Hire due on any due date for hire by sending to the Charterers a duly issued invoice for that Monthly Variable Hire and Monthly Fixed Hire at least four (4) Banking Days before such due date. Charter Principal Balance means US$33,000,000.- less the aggregate Monthly Fixed Hire as has at any relevant time been paid to the Owners for Vessel. Should the CME TERM SOFR fail to negative interest rate, zero (0) is to be applied as CME TERM SOFR.