Common Contracts

Contract

Facility Use Agreement • January 5th, 2022 • Virginia

• Contract Type
  Facility Use Agreement
• Filed
  January 5th, 2022
• Jurisdiction
  Virginia

(River Port and S23 Holdings, together with their successors, assigns and affiliates, are collectively referred to below as the “Landlords”). A tenant that desires to use the Newport News Facility for the berthing of vessels and/or the performance of ship-repair work thereon, whether such tenant contracts with River Port for the right to so use the Newport News Facility, is referred to below as “Tenant”. In connection with any such ship-repair work, the Landlords understand that Tenant will either self-perform such work or bring in third-party contractors to perform such work on vessels berthed by or on behalf of Tenant at the Newport News Facility (in either case, the “Work”). Should the Work performed by a third-party contractor of Tenant fall in the general category of ship repair, a Third Party Service Adjustment (TPSA) equal to 20% of the cost of such Work shall be payable by Tenant to River Port in addition to all other amounts payable under Landlords’ Newport News Facility Tarif