Demurrage Rate definition

Demurrage Rate means the demurrage rate as specified in the applicable Confirmation Notice.

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Demurrage Rate means one hundred thousand US Dollars (USD 100,000) per day, which shall be pro-rated for parts of a day.

Demurrage Rate means, with respect to each LNG Cargo under a Transaction, the daily demurrage rate specified in or determined under the relevant Confirmation Notice in respect of such LNG Cargo;

Examples of Demurrage Rate in a sentence

Any properly documented direct damages, direct costs and direct expenses relating to the abovementioned consultation process shall be the full responsibility of Shipper, which include, amongst others, any delay and/or Demurrage Rate.
If there is no LNG Ship on the berth, and Terminal Operator causes a delay to the first LNG ship in the queue, Terminal Operator shall, for the delay, pay, subject to GC 10.4, to that LNG ship the Demurrage Rate (pro-rated for any portion of a Day).
In the event both Terminal Operator and Shipper are partly responsible for causing the Actual Laytime to exceed the Allowed Laytime in loading an LNG Ship, each Party shall pay the Demurrage Rate pro rata its portion of responsibility.
Barges accepted on placement will remain on placement at the CONTRACT's Demurrage Rate until navigation and operating return to normal conditions.
In the event Shipper causes the Actual Laytime to exceed the Allowed Laytime, Shipper shall pay, subject to GC 11.1.4 and GC 11.2.2, demurrage actually incurred by Terminal Operator for the next LNG Ship due to berth at the LNG Terminal at the Demurrage Rate (pro-rated for any portion of a Day).
If there is no LNG Ship on the berth, and Terminal Operator causes a delay to the first LNG Ship in the queue, Terminal Operator shall, for the delay, pay, subject to GC 11.1.4 and GC 11.2.1, to the Shipper of that LNG Ship the Demurrage Rate (pro-rated for any portion of a Day).
If during a queuing event, as described in section 3.2 of the LNG Access Code, Terminal Operator causes a delay which results in the Actual Laytime to exceed the Allowed Laytime for an LNG Ship on the berth, then Terminal Operator shall pay the Demurrage Rate (pro-rated for any portion of a Day) for the delay to such LNG Ship and the delay to the next LNG Ship in the queue.
The foregoing provisions as to payment of half the Demurrage Rate in respect to weather and/or sea conditions shall not apply where the Vessel is lightered or discharged at sea.
If demurrage is incurred, on account of such delays, it shall be paid at half the Demurrage Rate.
No Party shall be held liable for the payment of the Demurrage Rate to the other to the extent any third party has caused the permitted laytime to be exceeded save where such third party has paid the Demurrage Rate to such first named Party.

More Definitions of Demurrage Rate

Demurrage Rate means the demurrage rate in respect of the Iron Chieftain or other Vessel used in DEQ Port Kembla deliveries, as determined in accordance with Clause 7.3.

Demurrage Rate means, for each Approved LNG Ship [***].

Demurrage Rate means, with respect to a given incident, fifty thousand Dollars ($50,000) per day for the first three (3) days of such incident, one hundred thousand Dollars ($100,000) per day for the next three (3) days of such incident, and two hundred thousand Dollars ($200,000) per day for each day thereafter of such incident; provided, however, that (i) the foregoing amounts payable hereunder shall be reduced proportionately when the Demurrage Rate relates to any LNG Tanker smaller than one hundred twenty-five thousand (125,000) Cubic Meters; and (ii) all Demurrage Rates are effective as of October 1, 2000 and shall be adjusted each October 1 thereafter by the Adjustment Factor.

Demurrage Rate means the demurrage rate as specified in the Confirmation Notice to compensate Supplier for delays to the Vessel.