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10.11.1
DATED 11th JULY 1994
X. XXXX LIMITED
- and -
HORIZON EXPLORATION LIMITED
AGREEMENT to extend the Charterparty
of "PACIFIC HORIZON"
HILL XXXXXXXXX XXXXX XXXXXXXX
XXXXX ASSURANCE HOUSE
DERBY SQUARE
LIVERPOOL L2 9XL
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THIS AGREEMENT is made the 11th day of July 1994 BETWEEN: X. XXXX LIMITED
(registered number 73874 of Xx. Xxxxxxx Xxxx, Xxxx XX0 0XX ("the Owners") of
the one part and HORIZON EXPLORATION LIMITED (registered number 2804983) of 0,
Xxxxxxxx Xxxx, Xxxxxxxxx, Xxxx ("Horizon")
WHEREAS:
(1) By a charterparty dated 4th February 1981, ("the Charterparty") the
Owners let by way of charter to Horizon (formerly Simon-Horizon
Limited whose name at the time of entering into the Charterparty was
Horizon Exploration Limited (registered number 467924) the motor
vessel "PACIFIC HORIZON" formerly known as "SUB-SEA 1" (hereinafter
called "the Vessel") as more fully described in the Charterparty
(2) The Charterparty was due to expire on 30th June 1993 and the parties
have now agreed to extend the term of such charter for a period of ten
years from 1st July 1993 (subject to termination by either party
giving to the other one month's notice) in the terms following
IT IS HEREBY AGREED as follows:
1. CLAUSE 3 of the Charterparty shall be amended to read:
"Owners agree to continue to let and the Charterers agree to
continue to hire the Vessel for the purpose of all lawful
activities associated with off-shore geophysical survey
operations as Charterers shall direct for a period of ten
years from 1st July 1993 unless during such period one party
gives to the other at least one month's notice of its desire
to determine the Charterparty whereupon such Charterparty
shall cease on expiry of such notice and the Vessel shall be
re-delivered in accordance with clause 36 of the Charterparty.
Charterers shall not send the Vessel beyond the limits of the
Limited European Trading Area as defined in the second
schedule to the Merchant Shipping (Certification of Marine
Engineer Officers and Licensing of Marine Engineer Operators)
Regulations 1986 without Owners' consent but such consent
shall not be unreasonably withheld provided Charterers agree
to the rate of hire being increased from the date the vessel
leaves such area to take account the anticipated increased
operational costs consequent upon the Vessel trading outside
such area. The Vessel shall be loaded and unloaded safely
afloat in any dock or at any wharf or place or anchorage
within such area (or outside such area with Owners' consent)
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according to the custom of the port or place as the Charterers
may direct"
The proviso shall be the same as in the clause 3 in Charterparty
2. CLAUSE 4 of the Charterparty shall be deleted and the remaining
clauses re-numbered accordingly
3. CLAUSE 5 shall be amended so as to substitute 1st July 1993 for 8th
May 1981
4. CLAUSE 6 shall be amended so as to read:
(a) "Charterers shall pay for the use and hire of the vessel at
the rate of L.2250 per day commencing at and from her delivery
as aforesaid and continuing until the date of her re-delivery
to Owners after completion of refurbishment as provided in
clause 18 (as re-numbered in accordance with clause 2 hereof)
except as mentioned in sub-clauses (b) and (c) hereof
(b) On each subsequent 1st July should there be any increase in
the United Kingdom Retail Prices Index ("RPI") published by
H.M. Stationery Office or any official Publication substituted
for it over that existing on the 1st July in the previous year
then for the next ensuing 12 months period until the next
following 30th June the rate per day specified in sub clause
(a) hereof shall be increased by the same percentage increase
in the RPI. Should there be no such increase in the RPI at
the relevant 3Oth June then the rate per day then prevailing
shall continue for the ensuing 12 month period
(c) In addition to any such increase as is described in sub-clause
(b) hereof on each subsequent 1st July should there be any
increase in insurance premium and/or mutual club call then
such increase shall be added pro rata to the rate per day
described in sub clause (a) as increased from time to time in
accordance with sub clause (b) for the ensuing 12 month
period. Such increase in premium and/or mutual club call
shall be added pro rata to the said rate per day even if there
is no increase under the terms of sub clause (b) hereof".
5. CLAUSE 16 shall be deleted and substituted by the words:
"Charterers shall not assign the benefit of this charter or
sub-let the Vessel without the written consent of, and in
terms and conditions acceptable to, the Owners and the owners
of the vessel"
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6. CLAUSE 25 shall be deleted and substituted by the words:
"If the Vessel shall be required by charterers to be laid up
in Hull the rate of hire shall be reduced by L.1000 per day
when such layup exceeds 30 continuous days. Such reduced rate
shall apply only upon the expiry of 7 days prior written
notice received from charterers who shall be obligated to give
7 days prior written notice of remobilisation when such layup
is to terminate"
7. ALL remaining clauses of the Charterparty shall stand unless impliedly
amended by the above
SIGNED by )
) /s/ [illegible signature]
for and on behalf of: )
the Owners )
SIGNED by )
) /s/ Xxxxxx Xxxxxx (Xxxxxx Xxxxxx)
for and on behalf of: )
the Charterers )
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