Eligible Charter definition

Eligible Charter means any firm contract for the employment of a Collateral Vessel with a Person other than a member of the Guarantor Group which has a remaining fixed term of not less than 3 months (which shall include any extension options which (i) if at the option of the Charterer, have been exercised, (ii) if at the option of the Vessel Owner, have or have not yet been exercised and (iii) are automatically exercised (without any condition, requirement or other arrangement whereby such extension will not occur other than a determination from the Vessel Owner otherwise)), and shall include any charter providing the applicable Vessel Owner with a termination right.
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Eligible Charter means a Charter having a duration of more than 11 months with a fixed rate of hire over $16,000/day gross, including the Initial Charter.
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Examples of Eligible Charter in a sentence

  • On each Borrowing Date, any Eligible Charter relating to a Collateral Vessel which is the subject of such Borrowing shall be in full force and effect.

  • On the date of each Closing, each Eligible Charter relating to a Collateral Vessel is in full force and effect.

  • On each of the Signing Date and the date of the Closing, each Eligible Charter relating to a Collateral Vessel is in full force and effect.

Related to Eligible Charter

  • Eligible Contract means a currently effective written contract between Bank and a Subcustodian satisfying the requirements of paragraph (c)(2) of Rule 17f-5 (including any amendments thereto or successor provisions).

  • Eligible Contract Participant means an “eligible contract participant” as defined in the CEA and regulations thereunder.

  • Eligible Corporation means any domestic C corporation (as defined in section 1361(a)(2) of the Code) other than a corporation which is exempt from, or is not subject to, tax under section 11 of the Code, an entity described in section 851(a) or 856(a) of the Code, a REMIC; or an organization to which part I, subchapter T, chapter 1, subtitle A of the Code applies. The Term "Related Person" means any person that bears a relationship to the Transferee enumerated in section 267(b) or 707(b)(1) of the Code, using "20 percent" instead of "50 percent" where it appears under the provisions; or is under common control (within the meaning of section 52(a) and (b) of the Code) with the Transferee.

  • Eligible company means a corporation or pass-through entity, as defined in § 58.1-390.1, that does

  • Eligible child means the children of: