Common Contracts
1 similar Operating-Differential Subsidy Agreement contracts
ContractOperating-Differential Subsidy Agreement • November 23rd, 2019
service covered by such agreement for periods not exceeding six months in any year, whenever the Secretary may determine that such transfer is necessary or appropriate to carry out the pur- poses of this chapter. Such consent shall be con- ditioned upon the agreement by the owner to pay to the Secretary, upon such terms and con- ditions as he may prescribe, an amount which bears the same proportion to the construction- differential subsidy paid by the Secretary as such temporary period bears to the entire eco- nomic life of the vessel. No operating-differen- tial subsidy shall be paid for the operation of such vessel for such temporary period.
