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. 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: D▇▇▇▇▇▇▇, IBAN: D▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇. 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. 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. 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. 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. Clause 63 of the Addendum to the Charter is hereby amended by deleting the language contained therein and substituting the following language in its place: Commencing as of May 1, 1998, the Charterer shall pay to the Owner the sum of [*]. Such amount will constitute prepayment of drydock hire and prepayment of Charter hire through May 29, 1998. Subsequent payments to be paid in advance on a [*] basis in the amount of [*] beginning on May 15, 1998. Upon confirmation by Charterer that the Flag and Class Repairs have been completed and release of the Vessel from the drydock shipyard, the Charterer shall also pay the shipyard the sum of [*] toward the Flag and Class Repairs. Notwithstanding the foregoing, the Charterer and the Owner will use their reasonable best efforts to obtain the best payment terms from the drydock shipyard, and if the shipyard agrees to accept some or all of the payment for the Flag and Class Repairs after the release of the Vessel from drydock, then Charterer shall pay the shipyard its pro rata portion of each payment due the shipyard, as and when required by the shipyard, based on the ratio of [*] divided by the total amount due the shipyard for the Flag and Class Repairs.
CHARTER HIRE. 6.1 The Charterer shall during the Hire Period pay Charter Hire to the Owner quarterly in arrears on each Payment Date calculated on the number of days which shall elapse during the relevant period.
CHARTER HIRE. The Charterers shall, throughout the Charter Period, pay charter hire (“Charter Hire”) to the Owners monthly in advance net to the Owners at the agreed following rate by telegraphic transfer for each successive period of a month commencing with the Delivery Date and with subsequent installments at monthly intervals after the date of payment of such first installment by and until the redelivery of the Vessel (each such date hereinafter a “Payment Date”). Time is of the essence for payment of the Charter Hire under this Charter. Fixed (Principal) Part: USD 5,450 per day; plus Floating (Interest) Part: (1 month USD LIBOR + 2.4% Margin) x Loan Outstanding on a Payment Date x number of days from that Payment Date until the following Payment Date divided by 360 days.
CHARTER HIRE. The invoices for the Charter Hire shall be presented for the forthcoming Charter Hire Payment Period thirty (30) days prior to the Charter Hire Payment Date and shall be paid and received on or before the last Banking Day prior to the Charter Hire Payment Date to which it relates. The invoice for the Charter Hire shall be for the full Charter Hire (100%) for the relevant Charter Hire Payment Period.
CHARTER HIRE. The Original Owners shall be paid hire by the Charterers in accordance with the Time Charter Party up to the Effective Time. The New Owners shall be paid hire by the Charterers in accordance with the Time Charter Party from the Effective Time. Payment shall be made to the New Owners’ bank account as stated in Box 9. The hire due in respect of the period from the Effective Time up to the date the next instalment of hire falls due under the Time Charter Party shall be paid by the Charterers to the New Owners on or before the Effective Time.
CHARTER HIRE. As additional security for the payment and performance of all obligations of the Borrower to the Lenders under the Notes, this Agreement and the other Loan Documents, the Borrower hereby grants to the Lenders a security interest in its rights under the Charter.