Common use of Over-holding Clause in Contracts

Over-holding. If the Vessel continues to be moored at the Marina after the period applied for on the face of this Contract or after the termination otherwise of the right of the Owner to moor the Vessel at the Marina, the Owner shall promptly pay to the Company for such unauthorized moorage 150% of the present monthly rate charged by the Company in respect of vessels having the similar specifications as the Vessel. The provisions of this Contract shall apply to such unauthorized moorage, except that the Company shall not be deemed to have consented to or permitted such moorage, and such moorage shall be month-to-month.