Examples of Basic Hire in a sentence
All provisions of this Charter shall be applicable during the Renewal Period, except that the Basic Hire payable under this Charter during each Renewal Period shall be that specified in this Clause 62.
In that case, the Charterer shall pay to the Owner, on the applicable EBO Date, or if such date is not a Business Day on the next succeeding Business Day, in Dollars and in immediately available funds (1) the applicable EBO Price (subject to Clause 74(ii) hereof), plus (2) any unpaid Basic Hire due or accrued on or prior to the applicable EBO Date and not otherwise already paid.
Upon receipt by the Owner of all amounts above described as payable, this Charter shall terminate and the obligations of the Charterer to pay Basic Hire on each Payment Date occurring on and after the applicable EBO Date shall terminate.
Each payment of Basic Hire (“Basic Hire Amount”) shall equal the basic hire rate set forth in the initial charter rate table below that corresponds to the time period for which payment is being made multiplied by the actual number of days in the month for which the Basic Hire Amount is being calculated.
Until notice is given by Owner Participant to Charterer specifying other payment instructions, Basic Hire shall be payable directly to Owner Participant by wire transfer in accordance with the following instructions: Bankers Trust Xxx Xxxxxxx Xxxxx Xxxxx Xxx Xxxx, XX 00000 ABA# 000-000-000 For the account of General Electric Capital Funding, Inc.