Charterer Guarantee definition

Charterer Guarantee means Deed of Guarantee issued by Charterer Guarantor to Owner guaranteeing the obligations of Charterer to prepay hire in accordance with sections 8.11(a) and (b) under this Charter, a true and correct copy of the form of which is attached hereto as Exhibit B.
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Charterer Guarantee means the guarantee referred to in recital C hereof and issued in favour of the Company by the Charter Guarantor;
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Charterer Guarantee means the document or arrangement referred to in section 3.2(e) securing the obligations of Charterer under section 3.2(c).
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Examples of Charterer Guarantee in a sentence

  • Further, Charterer shall provide and keep in effect the Charterer Guarantee or shall cause equivalent security to be furnished with respect to the assignee’s obligations hereunder.

  • In circumstances where Charterer’s failure is to prepay Hire under section 8.11(a) and/or (b), which has not been remedied either by the Charterer or by payment under the Charterer Guarantee within the applicable period after notice of such failure from Owner (in which case, the Charterer’s failure having been so duly remedied, the Owner may not exercise its termination right), Owner may then without further notice terminate its obligation to deliver the Vessel under this Charter.

  • Except with respect to an assignment to an Affiliate, with effect from the effective date of an assignment pursuant to Clause 24.1, Charterer shall be relieved from directly performing its obligations under this Charter but no such assignment shall relieve Charterer from any liability of Charterer prior to the effective date of such assignment or any liability of Charterer Guarantor under the Charterer Guarantee.

  • Before Owner does this, it must make demand under the Charterer Guarantee.

  • Within the time periods set forth in Clauses 4.7 and 5.5, Owner and Charterer shall each deliver to the other Party the Owner Guarantee and the Charterer Guarantee, respectively.

  • Charterer Guarantee The guarantee of Charterer’s performance under this Charter given by Charterer Guarantor, the form of which is attached as Appendix G-2, and referenced in Clause 5.5. .

  • In case the Term ends because of a Charterer Event of Default, the Charterer Guarantee or Letter of Credit, as the case may be, should be maintained until Charterer’s liability as referred to in section 39.1(d) has been paid.

  • The Charterer Guarantee shall be available to secure Owner’s rights to receive payments of Hire or of any other sum due under or in relation to this Charter, even arising out of a termination of letting of the Vessel hereunder.

  • The Charterer Guarantee or the Letter of Credit (subject, if applicable, to its stated limit), as the case may be, shall secure Charterer’s liability in relation thereto.

  • For the avoidance of doubt these shall include issuance of the Owner Guarantee, the Charterer Guarantee and the Charterer Security.