Common use of Slot Commitment Clause in Contracts

Slot Commitment. COSCON shall provide to HSD from its Pendulum Service’s ‘allocation 250 TEUs at 10 gwt average or 2500 tons and 12 reefer plugs per round-trip weekly sailing between the ports in the Trade on a used or not used basis, And HSD shall purchase such Slots on a used or not used basis on such terms and conditions and at such price as the Parties may from time-to-time agree. The Parties may agree to increase or decrease the number of slots and/or the number of reefer plugs by up to 100 percent without the need to file an amendment with the FMC. The Pendulum Service shall initially consist of a 119-day round trip voyage, calling on a fixed day and weekly basis in such ports within the trade. Initially, the port rotation shall be: Ningbo – Shanghai – Hong Kong – Yantian – Vung Tau – Port Kelang – Suez Canal -- Halifax – New York – Norfolk – Savannah – Charleston – Suez Canal – Port Kelang – Vung Tau – Hong Kong – Yantian - Shanghai – Ningbo – Pusan – *Seattle – *Vancouver – Shanghai -- Ningbo *Parties agree only the Far East to USEC section of the Pendulum Service for Slot purchasing in this Agreement. HSD will not purchase slots on voyages from/to Seattle and Vancouver under this Agreement. Any change of the foregoing rotation shall not require further amendment of this Agreement or any filing with the FMC, provided such change is within the geographic scope of the Trade. The Parties are authorized to discuss and agree on the ports to be called, port rotation, and scheduling of the service to be provided hereunder; provided, that COSCON will make the final decision with respect thereto. Additional ports of call may be added on an ad hoc basis at the discretion of COSCON, if such port call does not affect the time for loading and discharge in regular ports, schedule integrity, service frequency and normal transit time, and remains within the geographic scope of the Trade. Any 40’ HC shall be counted as 2 TEUs. Any 45’ HC shall be counted as 2.5 TEUs. COSCON is authorized to sell and HSD to purchase slots in the Trade in addition to those set forth above from time to time, on such terms as the Parties may agree and subject to space availability, without further amendment of this Agreement or any filing with the FMC.