Charter Hire definition

Charter Hire means hire paid by the Charterer to the Borrower under the Charter;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Charter Hire means Basic Hire and Supplemental Hire under the applicable Demise Charter.

Charter Hire means Basic Hire and Supplemental Hire.

Examples of Charter Hire in a sentence

• In the event the Vessel shall become a total loss, actual or constructive (a constructive total loss shall be defined in the policy of hull insurance applicable to the Vessel), during the Charter Term, Charter Hire shall cease as of the end of the day the Vessel becomes a total loss which, for the purposes hereof, is defined to be the date on which the loss occurs regardless of whether determined to be a total loss on that date or a subsequent date.

• In such event Charter Hire to be considered as earned and to be paid up to the date and time of such “Compulsory Acquisition”.

• Payment of Charter Hire shall be made to Owner by electronic funds transfer or as otherwise directed by Owner or, if no directions are given by Owner, for the benefit of Owner at One E.

• Charter Hire shall continue until completion of the off-hire survey and of all repairs, removals and restorations required to place the Vessel in the same good order and condition in which it was at the time of commencement, reasonable wear and tear excepted, and all other work required of the Charterer herein.

• Should Charterer fail to pay Charter Hire or any other payment hereunder when due, or otherwise breach in any material respect any of its undertakings herein, Charterer shall (except in accordance with Section 3B hereof) be deemed to be in default.

More Definitions of Charter Hire

Charter Hire means the charter hire payable by Charterers for the use and possession of the Vessel payable at the times and in the amounts set forth on Schedule 1 attached hereto and made a part hereof.

Charter Hire has the meaning given to it in Clause 38 of this Charter;

Charter Hire means the charter hire payable by the Charterer for the use and possession of the Vessel payable at the times and in the amounts set forth on Schedule 1 attached hereto and made a part hereof.

Charter Hire means, collectively, Charter Hire A, Charter Hire B and Charter Hire C; “Charter Hire A” means the instalments of Charter Hire payable in US Dollars pursuant to Clause 6(a), being with respect to any date, an instalment of charter hire payable in US Dollars in the amount calculated in accordance with Clause 6(c) and Schedule 4 (Charter Hire); “Charter Hire B” means the instalments of Charter Hire payable in US Dollars pursuant to Clause 6(a), being with respect to any date, an instalment of charter hire payable in US Dollars in the amount calculated in accordance with Clause 6(c) and Schedule 4 (Charter Hire) and as provided in the fourth column of Schedule 4 (Charter Hire) with reference to such date (if any); “Charter Hire C” means the instalments of Charter Hire payable in US Dollars pursuant to Clause 6(a), being with respect to any date, an instalment of charter hire payable in US Dollars in the amount calculated in accordance with Clause 6(c) and Schedule 4 (Charter Hire) and as provided in the fifth column of Schedule 4 (Charter Hire) with reference to such date (if any); “Charter Period” means the period during which the Charterer shall be entitled to the possession and use of the Vessel in accordance with this Agreement, being the period commencing on the Charter Commencement Date until the Early Buy-out Date or, in the event that the Charterer shall not have exercised its voluntary option to purchase the Vessel under Clause 21(a), the Final Payment Date, or if earlier the Termination Date; “Charterer Account” means the account (or any sub account or sub division thereof) with account number 1250.0576.063, BIC: ▇▇▇▇▇▇▇▇▇▇▇, IBAN: ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ (and any renewal or re designation thereof) in the name of the Charterer maintained with the Charterer Account Bank; “Charterer Account Bank” means DNB Bank ASA, acting through its Oslo office, or such other bank or financial institution which, with the prior written consent of the Representative Owner and the Agent (acting in accordance with the instructions of the Majority Lenders), at any time holds the Charterer Account; “Charterer Account Charge and Onward Assignment” means the account charge agreement entered into or to be entered into between the Charterer (as chargor), the Owners (as owners) and the Security Agent (as security agent) in respect of the Charterer Account and all notices and acknowledgements given or to be given in relation to such charge; “Charterer Assignment” has the meaning given ...

Charter Hire means the daily charter hire payable in accordance with Clause 6 (Charter Hire).

Charter Hire means, collectively, Base Charter Hire, ------------ Supplemental Charter Hire, and Renewal Hire, if any.

Charter Hire means any amount of charter hire payable by the Charterer to an Owner under clause 44 (Charter Hire) of a Charter;