Approved Charterparty definition

Approved Charterparty means a time charter in respect of the Ship dated 23 November 2011 and entered into between the Borrower and Klaveness AS of Norway, of a duration of 18 to 24 months and for a net daily hire rate of $11,970; and
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Approved Charterparty in relation to a Ship means any time charter, agreement or related document in respect of the employment of such Ship exceeding twelve (12) month charter period, whether now existing or hereinafter entered into by the Owner thereof (and shall include any addenda thereto) and such expression also includes the Existing Charterparties;
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Approved Charterparty means, in relation to a Ship, any charterparty in relation to that Ship which is approved by the Lender as a valid charterparty for the purposes of the Secondone Advance Tranche D or the Thirdone Advance Tranche D, and in the plural means all of them;
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Examples of Approved Charterparty in a sentence

  • Unless the cargo is loaded, stowed, or discharged, strictly in accordance with the requirements of any IMO Code or any other similar legislation or regulation, or where cargo is carried under or pursuant to a Charterparty which is not an Approved Charterparty, or in the case of hazardous cargo, where such cargo is carried without the express knowledge and consent of the master and owner.

  • Where an Insured Ship is chartered under any other than an Approved Charterparty.

  • For the purpose of this Clause 8.10 the Market Value of a Mortgaged Vessel which at the relevant time is not subject to an Approved Charterparty shall be made on the basis of one valuation made by such first class independent sale and purchase shipbrokers as may from time to time be appointed or approved by the Bank.

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  • The Borrower has not traded or carried on business prior to the date of this Agreement other than the entering into the MOA, the Shipbuilding Contract, the Approved Charterparty and all other documents to be executed thereunder.

  • The above Cash-flow test shall be made by the Agent upon the expiry and/or termination of any Existing Charterparty or any other Approved Charterparty (unless such Existing Charterparty or other Approved Charterparty has been renewed at a hire rate equal to or better than the existing one), in respect of the period commencing on the Amalgamation Date and ending on the date on which such Existing Charterparty or Approved Charterparty (as the case may be) next expires.

  • Each Borrower has not traded or carried on business prior to the date of this Agreement other than the entering into a memorandum of agreement in respect of the acquisition of its Ship (in the case of Borrower A, the MOA), the documents executed thereunder and the relevant Approved Charterparty.

  • There is no Insurance where an Insured Ship is chartered under any other than an Approved Charterparty, unless specific rates and terms have been agreed in advance in writing on such terms as the Underwriters may require.

  • Imposition of new condition of arbitrary ‘pay for if not taken’ obligation on the Opposite Party, computed on a basis not contemplated in the GSA.


More Definitions of Approved Charterparty

Approved Charterparty means, in relation to a Group Vessel at a Compliance Date, any time charter or other contract of employment which exceeds twelve (12) months duration (excluding any option periods (as defined below), other than option periods exercised by the relevant owner or bareboat charterer (only by means of a finance lease)), entered up to and until that Compliance Date by the owner of such Group Vessel with a charterer, as the same may be amended and/or supplemented from time to time;
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Approved Charterparty in relation to a Vessel means any time charterparty entered or to be entered in connection with such Vessel between the Owner thereof and a first-class charterer acceptable to the Bank, with rates and terms acceptable to the Bank and with a minimum duration of twelve (12) months, and includes the X.X. Xxxxxx-Maersk Charterparties;
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Related to Approved Charterparty

  • Charterparty Assignment means, in relation to a Ship, the deed of assignment of any Charterparty in favour of the Security Trustee, in such form as the Lenders may approve or require;

  • Charter Assignment means a specific assignment of each Extended Employment Contract required to be executed hereunder by any Borrower in favour of the Security Trustee (including any notices and/or acknowledgements and/or undertakings associated therewith) in such form as the Agent and the Majority Lenders may require in their sole discretion;

  • Existing ship means a ship which is not a new ship.

  • Approved Counterparty means (a) any Lender or any Affiliate of a Lender and (b) any other Person whose long term senior unsecured debt rating is A-/A3 by S&P or Xxxxx’x (or their equivalent) or higher.

  • Group contract means a contract for health care services which by its terms limits eligibility to members of a specified group. The group contract may include coverage for dependents.

  • Time Charter means the time charter party between Owners as owners and Stena Bulk AB (the "Time Charterers") as charterers effective attached hereto as Annex 1. "Agreement" means Part I, Part II, including Additional Clauses 21-31 as well as Annex 1.

  • Continuing Contract means a contract for Professional Services entered into in accordance with Section 287.055 of the Florida Statutes, between the District and a firm, whereby the firm provides Professional Services to the District for projects in which the costs do not exceed two million dollars ($2,000,000), for a study activity when the fee for such Professional Services to the District does not exceed two hundred thousand dollars ($200,000), or for work of a specified nature as outlined in the contract with the District, with no time limitation except that the contract must provide a termination clause (for example, a contract for general District engineering services). Firms providing Professional Services under Continuing Contracts shall not be required to bid against one another.

  • Bareboat Charter means the bareboat charter agreement to be executed by the Effective Date by the Borrower as owner and the Charterer as bareboat charterer.

  • Approved Manager means, in relation to each Ship, Allseas Marine S.A. a corporation organised and existing under the laws of the Republic of Liberia, having its registered office at 00 Xxxxx Xxxxxx, Xxxxxxxx, Xxxxxxx and maintaining a ship management office at Voula Center, Xxxxxxxx Xxxxxx Xxxxxx 000-000, 000 00 Xxxxx, Xxxxxx or any other company which the Agent may, with the authorisation of the Majority Lenders, approve from time to time as the technical and/or commercial manager of a Ship;

  • Charter Agreement means an agreement made in accordance with Section 53G-5-303 that authorizes the operation of a charter school.

  • Charter contract or "contract" means a fixed-term, renewable contract

  • O&M Contract means the operation and maintenance contract that may be entered into between the Concessionaire and the O&M Contractor for performance of all or any of the O&M obligations;

  • sub-contract means the primary contractor’s assigning, leasing, making out work to, or employing, another person to support such primary contractor in the execution of part of a project in terms of the contract;

  • EPC Contract means the Seller’s engineering, procurement and construction contract with the EPC Contractor.

  • MOA means the Borrower’s Ministry of Agriculture;

  • works contract means a contract for building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property wherein transfer of property in goods (whether as goods or in some other form) is involved in the execution of such contract;

  • Collateral Assignment Agreement has the meaning set forth in Section 9.05.

  • Assignment of Insurances shall have the meaning provided in the definition of “Collateral and Guaranty Requirements”.

  • Approved Contractor means an “Approved Contractor” specified in the Key Details.

  • Acceptable Counterparty means any counterparty to the Interest Rate Cap Agreement that has and shall maintain, until the expiration of the applicable Interest Rate Cap Agreement, a long-term unsecured debt rating of at least “A+” by S&P and “Aa3” from Xxxxx’x, which rating shall not include a “t” or otherwise reflect a termination risk and is otherwise reasonably acceptable to Lender.

  • Shipbuilding Contract means the shipbuilding contract dated 30 March 2011 and made between the Builder and the Borrower for the construction by the Builder of the Ship and its purchase by the Borrower as supplemented and amended from time to time;

  • Deed of Assignment means the deed of assignment of the Shareholder Loan in the agreed form set out in Schedule 6 (Deed of Assignment) to be entered into between the Seller and the Buyer upon Completion.

  • Collateral Assignment means, with respect to any Contracts, the original instrument of collateral assignment of such Contracts by the Company, as Seller, to the Collateral Agent, substantially in the form included in Exhibit A hereto.

  • Financial Contract of a Person means (i) any exchange-traded or over-the-counter futures, forward, swap or option contract or other financial instrument with similar characteristics or (ii) any Rate Management Transaction.

  • Project Contract means a Project Contract as such term is defined in the RfP; “Proposal” means a Proposal as such term is defined in the RfP;

  • Mortgage Assignment means an assignment of the Mortgage in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Mortgage.