Examples of Additional Vessel in a sentence
Schedule “B” shall be amended and restated from time to time to include the applicable Fees for each Additional Vessel, which Fee shall be negotiated on a vessel-by-vessel basis.
An Additional Vessel is defined as any second-hand Suezmax or Medium-Range product tanker acquired by using Excess Cash and/or new equity injected into the Issuer.
The Company and the Manager each acknowledge that the Initial Technical Services Fee for the IPO Vessels represents the fair market value of providing the Technical Services for each IPO Vessel on August 8, 2005 and that the Initial Technical Services Fee for the Additional Vessels represents the fair market value of providing the Technical Services Fee for each Additional Vessel as of the date such Additional Vessel was acquired by the Company.