Delivery Instalment definition

Delivery Instalment means, in relation to a Ship, the instalment of the Contract Price for such Ship falling due on its Delivery.

Delivery Instalment means the instalment of the Contract Price falling due on Delivery.

Delivery Instalment means the Fifth Instalment.

Examples of Delivery Instalment in a sentence

• The Delivery Instalment amounting to Thirty Eight Million Two Hundred and Eighty Thousand United States Dollars (US$ 38,280,000.-) plus any increase or minus any decrease due to adjustments of the Contract Price under and pursuant to the provisions of this Contract, shall be due and payable upon delivery and acceptance of the VESSEL or upon tender for delivery of the VESSEL referred to in Paragraph 4 of Article VII of this Contract.

• Notwithstanding the foregoing, adjustment in connection with the delay in delivery of the VESSEL shall be made on delivery to the Delivery Instalment.

• Subject always to the conditions in this Clause 7 and the other terms of this Agreement, the Sellers may request the Buyers to pre-position the Delivery Instalment to the Builder’s Bank in accordance with the relevant Payment Notice by way of a Direct Payment.

• If or when the SELLER advises the BUYER of a revised scheduled delivery date in accordance with this Contract, the BUYER shall redeposit the Delivery Instalment in the same manner as stated above at least one business day prior to such revised scheduled delivery date or if not possible upon notice.

• Any increase or decrease of the Contract Price due to adjustments made in accordance with the provisions of this Contract shall be adjusted by way of addition to or subtraction from the Delivery Instalment of the Contract Price upon delivery of the VESSEL in the manner as hereinafter provided.

More Definitions of Delivery Instalment

Delivery Instalment means an amount which:

Delivery Instalment means the instalment of the Contract Price of a Vessel payable by the Owner thereof to the Builder on the Delivery Date of that Vessel in accordance with the Shipbuilding Contract related to such Vessel and, in the plural, means both of them;

Delivery Instalment has the meaning given in Clause 2.1. “Delivery Instalment Due Date” has the meaning given in Clause 2.2. “Due Date” means the Delivery Instalment Due Date and any Post Delivery Instalment Due Date and in the plural means both of them. “Event of Default” has the meaning given in Clause 8. “First Loan” means the Loan made or to be made available to, amongst others, the Buyer by the First Mortgagee in respect of (inter alia) the Vessel.

Delivery Instalment means in relation to (i) each Existing Ship, the Contract Instalment of that Existing Ship in the amount of Fourteen million Dollars ($14,000,000) payable by the relevant Borrower to the relevant Builder under Clause 2 (e) of Article X of the relevant Existing Contract and (ii) an Additional Ship or a Substitute Ship, the Contract Installment payable by the relevant Collateral Owner to the relevant Builder on the relevant Delivery Instalment Payment Date under the relevant Contract and, in the plural, means all of them;

Delivery Instalment means, in respect of a New Ship, the part of the Contract Price due to the Builder under Article 10(c)(v) of the Shipbuilding Contract applicable to that New Ship on its Delivery Date.

Delivery Instalment has the meaning given in Clause 3.1.

Delivery Instalment means the amount paid or, as the context may require, payable by the Lessor (i) to the Lessor's Agent on the Delivery Date pursuant to clause 5.1 of the Construction Supervision Agreement and (ii) to the Builder pursuant to the Shipbuilding Contract;