Off-Hire Duration Clause Sample Clauses

Off-Hire Duration Clause. If any period of off-hire under clause 21 exceeds 45 days except for periodical dry-docking and / or repairs, then Charterers have the option to terminate this charter by giving notice in writing to Owners. Termination shall take effect 15 days after such notice of termination is received by Owners or from any later date after 15 days stated in such notice. Upon termination in accordance with this clause, Owners shall forthwith remit to Charterers any hire paid but not earned as at the date of termination and any other monies owing, including but not limited to bunker quantities over and above those supplied by Owners on delivery. This clause is without prejudice to any other rights of Charterers or obligations of Owners under this charter or otherwise.