Preferential Berthing Sample Clauses

Preferential Berthing a. Carrier shall have the right to berth any of its vessels at a wharf named by PHA at Barbours Cut Terminal provided the wharf is fitted with neo-panamax cranes (the “Preferential Berth”), on the terms provided herein (the “Preferential Berth Rights”) and provided that the Carrier notifies the PHA’s Terminal Manager, or his designee, in writing of the schedule arrival time of such vessel (a “Preferential Vessel”) at least forty-eight (48) hours in advance of such arrival. Once the Preferential Berth is established, the berth will not change unless mutually agreed to by the parties. Whenever requested by Carrier, PHA shall also be required to provide the Preferential Berth Rights to any vessel operated by or on behalf of any of Carrier’s vessel sharing partners, where at least fifty percent (50%) on average of the containers to be loaded or discharged from such service vessels (individually, a “Shared Vessel”) at the Terminals are Carrier’s containers. Unless an alternate berth is mutually agreed upon, Carrier shall use the Preferential Berth any time a Preferential Vessel or a Shared Vessel arrives. b. Carrier shall use its best efforts to allow cargo operations of such Preferential Vessel to be completed in a prudent and timely manner after its arrival at the Preferential Berth, and shall cause such Preferential Vessel to vacate the Preferential Berth upon completion of such cargo operations. c. If such Preferential Vessel does not vacate the Preferential Berth upon completion of such cargo operation, PHA shall be entitled to cause it to so vacate in accordance with the Tariffs. d. PHA reserves the right to occupy and receive and discharge any cargo at the Preferential Berth when it is not occupied by Preferential Vessel in accordance with the terms of this Agreement. e. If any vessel other than a Preferential Vessel (a "Non-Preferential Vessel") occupies the Preferential Berth at a time when such berth is required for a Preferential Vessel, PHA will instruct the Non-Preferential Vessel to vacate the Preferential Berth forthwith. If the PHA is unable to make the Preferential Berth available for a Preferential Vessel following notice from Carrier as provided herein, it shall not be an Event of Default hereunder, but the PHA shall waive the first day's dockage charge for berth occupancy of such Preferential Vessel. Except during any time that the Preferential Berth is out of service, or damaged or destroyed by circumstances reasonably beyond the control of...
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Preferential Berthing. LESSEE may use Berth No. 7 on a preferential basis on one (1) designated day per week. Said designation shall be made by LESSEE and furnished to the AUTHORITY in writing. Said designation may be changed by LESSEE with thirty (30) days prior written notice to the AUTHORITY, and shall be approved as long as said change does not conflict with other berthing agreements.

Related to Preferential Berthing

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Such tender offer documents will contain substantially the same financial and other information about the Initial Business Combination and the redemption rights as is required under the Commission’s proxy rules and will provide each stockholder of the Company with the opportunity prior to the consummation of the Initial Business Combination to redeem the Common Stock held by such stockholder for an amount of cash equal to (A) the aggregate amount then on deposit in the Trust Account as of two Business Days prior to the consummation of the Initial Business Combination representing (x) the proceeds held in the Trust Account from the Offering and the sale of the Private Placement Warrants and (y) any interest, divided by (B) the total number of Public Shares then outstanding. In the event the Company conducts redemptions pursuant to the tender offer rules, the Company’s offer to redeem will remain open for at least 20 Business Days, in accordance with Rule 14e-1(a) under the Exchange Act, and the Company will not be permitted to complete the Initial Business Combination until the expiration of the tender offer period. If, however, the Company elects not to file such tender offer documents, a stockholder vote is required by law or stock exchange listing requirement in connection with the Initial Business Combination, or the Company decides to hold a stockholder vote for business or other legal reasons, the Company will submit such Initial Business Combination to the Company’s stockholders for their approval (“Business Combination Vote”). The company will give not less than 10 days nor more than 60 days prior written notice of any such meeting, if required, at which a Business Combination Vote shall be taken. With respect to the Business Combination Vote, the Sponsor and the Company’s initial stockholders, executive officers and directors have agreed to vote all of their Founder Shares and Public Shares in favor of the Company’s initial Business Combination. If the Company seeks stockholder approval of the Initial Business Combination, the Company will offer to each Public Stockholder holding shares of Common Stock the right to have its shares redeemed in conjunction with a proxy solicitation pursuant to the proxy rules of the Commission at a per share redemption price (the “Redemption Price”) equal to (I) the aggregate amount then on deposit in the Trust Account as of two Business Days prior to the consummation of the Initial Business Combination representing (1) the proceeds held in the Trust Account from the Offering and the sale of the Private Placement Warrants and (2) any interest, divided by (II) the total number of Public Shares then outstanding. The Company may proceed with such Initial Business Combination only if a majority of the shares voted are voted to approve such Initial Business Combination. If, after seeking and receiving such stockholder approval, the Company elects to so proceed, it will redeem shares, at the Redemption Price, from those Public Stockholders who affirmatively requested such redemption. Only Public Stockholders holding Common Stock who properly exercise their redemption rights, in accordance with the applicable tender offer or proxy materials related to such Initial Business Combination, shall be entitled to receive distributions from the Trust Account in connection with an Initial Business Combination, and the Company shall pay no distributions with respect to any other holders or shares of capital stock of the Company in connection therewith. In the event that the Company does not effect an Initial Business Combination within the time period set forth in the Amended and Restated Certificate of Incorporation, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten (10) Business Days thereafter, redeem 100% of the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including any interest (which shall be net of amounts withdrawn to pay taxes and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish Public Stockholders’ rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. Only Public Stockholders holding Common Stock included in the Securities shall be entitled to receive such redemption amounts and the Company shall pay no such redemption amounts or any distributions in liquidation with respect to any other shares of capital stock of the Company. The Company will not propose any amendment to the Amended and Restated Certificate of Incorporation to modify the substance or timing of the Company’s obligation to provide for the redemption of the Public Shares in connection with an Initial Business Combination or to redeem 100% of its Public Shares if it does not complete its initial business combination within the time period set forth in the Amended and Restated Certificate of Incorporation, unless it provides its public stockholders with the opportunity to redeem their shares of Class A common stock upon approval of any such amendment, as described in the Statutory Prospectus and Prospectus.

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