Acceptable Charter definition

Acceptable Charter means, with respect to a Mexican-flagged Vessel, a Pemex Charter or any time charter, or other employment acceptable to the Facility Agent, under the Mexican Navigation and Maritime Commerce Law (Ley de Navegación y Comercio Marítimos) with an Acceptable Charterer, with rates (denominated in Dollars), projected cash flow, and all other terms and conditions satisfactory to the Facility Agent or, with respect to a non-Mexican flagged Vessel, any other Charter Party Agreement;

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Acceptable Charter means in respect of “FANTASTIKS”, a charterparty in respect thereof which (i) covers at least the period March 2011 until September 2014, (ii) is at a net daily charterhire of at least USD35,000 and (iii) is made with a charterer acceptable to the Agent;

Acceptable Charter means in relation to each Vessel, each of the charter commitments of that Vessel set out in Schedule 2 (Vessel Information) or, for the purposes of Clause 28.17 (Charter termination) only, such other Charter acceptable in all respects to the Lenders.

Examples of Acceptable Charter in a sentence

If an Acceptable Charter is not in force, any valuations for the purposes of Clause 20 (Financial Covenants) shall be made on a charter-free basis.
Other than as expressly permitted or contemplated by any Transaction Document to which it is party, enter into any material agreement, contract or commitment (other than a charter agreement or a commitment to enter into a charter agreement, in each case, in respect of a Vessel that it plans to submit to the Intercreditor Agent for approval as an Acceptable Charter or an Alternative Charter by the Lenders) or incur any additional obligation without the prior written consent of the Intercreditor Agent.
There is not, nor shall there be, an agreement or arrangement whereby an amount received, currently or at any time in the future, by it under any Acceptable Charter or any Alternative Charter to which it is party may be shared with any Person except in accordance with Clause 26.17.
No Acceptable Charterer has given any notice to it to terminate any Shipbuilding Contract or any Acceptable Charter or Alternative Charter, in each case to which it is party and it is not aware of any circumstance that would give rise to such Acceptable Charterer’s right to terminate any such Shipbuilding Contract or any such Acceptable Charter or Alternative Charter.
No Acceptable Charterer has given to it or received from it any notice of force majeure under any Acceptable Charter or Alternative Charter, in each case to which such Acceptable Charterer is party where the event of force majeure in respect of which such notice is given reasonably could be expected to have a Material Adverse Effect.

More Definitions of Acceptable Charter

Acceptable Charter means for any Ship, a charterparty, and if approved by the Required Lenders, any contract of affreightment entered into between the relevant Upstream Guarantor and an Acceptable Charterer at a monthly rate of at least $680,000.

Acceptable Charter means, in respect of a Vessel, any time charter having a duration of 18 months or more which is acceptable to and has been approved by the Agent in writing (such approval not to be unreasonably withheld).

Acceptable Charter means, in respect of a Vessel or any other Group Vessel:

Acceptable Charter means, in respect of a Vessel or any other Group Vessel, any time charter or other contract of employment which:

Acceptable Charter means a time charter in respect of the Vessel with a minimum term (inclusive of the primary term and any renewal or extension term options) of five years in form and substance reasonably acceptable to the Majority Lenders;

Acceptable Charter means, in respect of the Vessel, any time charter having a duration of 24 months or more which is acceptable to and has been approved by the Agent in writing (such approval not to be unreasonably withheld).

Acceptable Charter means in respect of “FANTASTIKS”, a charterparty in respect thereof which (i) covers at least the period March 2011 until September 2014, (ii) is at a net