Common use of Off-Hire Clause in Contracts

Off-Hire. Irrespective of the actual number of days off-hire for any one Vessel under its respective Charter, the Charterer agrees to continue to pay the agreed charter hire payments under the Charter to the Owner of such Vessel, and will not deduct for any off-hire, as long as the aggregate Accumulated Off Hire Amount for all Vessels then in the fleet is less than or equal to the aggregate Accumulated Off Hire Allowance for all such Vessels.

Appears in 4 contracts

Samples: Charter Ancillary Agreement (Ship Finance International LTD), Charter Ancillary Agreement (Frontline LTD /), Charter Ancillary Agreement (Frontline LTD /)

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