Common use of Slot Exchange Clause in Contracts

Slot Exchange. (a) HMM shall initially provide ZIM with minimum 400 TEUs/4,200 DWT, @10.5tons/TEU weekly, including fifty (50) powered slots for temperature controlled containers, on its Pacific Northwest (PNW) Service. (b) ZIM shall initially provide HMM with 400 TEUs/4,200 DWT, @10.5tons/TEU weekly, including fifty (50) powered slots for temperature controlled containers, on its ZIM North Pacific (ZNP) service. (c) The preceding allocations shall be on a weekly round trip voyage basis. (d) The Parties reserve the right to increase the number of slots sold purchased and/or exchanged up to an amount of 800 TEUs / 8,400 DWT, @10.5tons/TEU as the Parties may agree without the need for further amendment of this Agreement. The Parties are authorized to buy/sell additional slots from/to one another on an ad hoc basis, subject to space availability. (e) The Parties may use slots made available to them under this Agreement to transport transshipment cargo moving from origins and/or to destinations beyond the geographic scope of this Agreement. (f) Neither Party may sub-charter space made available to it hereunder to another carrier without the prior written consent of the other Party.