Hull and Machinery definition

Hull and Machinery. War risks: Protection and Indemnity risks: Hire: Index (CS4TC) plus 12,5 pct to be settled at end of each month. First hire to be paid at Index of the day of delivery based on CS4TC plus 12,5 pct which to be adjusted at end of the month vessel delivers according to actual figures. Hire shall be paid in arrears at the first day of each month, based on average prices of preceding month. In case Owners declare their option to convert to 12 months t/c, rate will be as per forward curve taken by 2 independent FFA brokers to be agreed upon between Owners and Charterers. BANK DETAILS: To be advised Charterers are to have the right to withhold Owners' items and estimated amount for bunkers from the last hire payments, any balance for bunker value is to be settled in the final hire statement. Undisputed off hires and actual Owners' disbursements may be deducted by Charterers from the Charter hire during the period of the Charter Party. Such deductions will be finalized when proper statements/vouchers are submitted which is to be as soon as possible. Referring to Lines 60 and 61 of New York Produce Exchange printed form, where there is default of payment as specified, the Owners will notify the Charterers whereupon the Charterers shall make payment of the amount due without interest within three (3) working/banking days of notification from the Owners, failing which the Owners will have the right to withdraw the vessel from service of the Charterers, without prejudice to any claim the Owners may otherwise have on the Charterers under this Charter. Charterers shall pay and keep Owners fully indemnified and hold them harmless in respect of all local, state, national taxes and/or dues assessed on the vessel and/or the Owners and/or cargo and/or in respect of hire, sub-hire, freight, sub-freight or any other income payable under this Charter Party or in respect of the vessel's employment hereunder, including but not limited to Chinese Enterprise (Corporate) Income Tax, Chinese Business Tax and U.S.A. Gross Transportation Tax, whether assessed during or after the currency of this Charter Party. All taxes and/or dues levied by the country of the flag of the vessel or the Owners shall be for Owners' account.
Sample 1
Hull and Machinery. (All Risks) including War Risks and Collision Liability - sum insured up to full value of the vessel being N.Kr 000,000,000 (One Hundred Million Norwegian Kroner). "Protection & Indemnity" - sum insured up to full value of the Vessel, including Wreck Removal with unlimited, as per rules of P&I Club and including Oil Pollution liability indemnity up to a maximum of US$ 500,000,000 (Five Hundred Million United States Dollars).
Sample 1
Hull and Machinery. (All Risks) including Collision Liability - sum insured up to full value of the Seismic Vessel being US Dollars $7,000,000 (Seven million United States Dollars). "Protection & Indemnity" - sum insured up to full value of the Seismic Vessel including Wreck Removal with unlimited, as per rules of P&I Club and including Oil Pollution liability indemnity up to maximum of US$ 500,000,000 (Five Hundred Million United States Dollars).
Sample 1

Examples of Hull and Machinery in a sentence

  • Hull and Machinery coverage shall be provided for the total value of the watercraft or equipment.

  • SCOPIC remuneration shall not be a General Average expense to the extent that it exceeds the Article 13 Award; any liability to pay such SCOPIC remuneration shall be that of the Shipowner alone and no claim whether direct, indirect, by way of indemnity or recourse or otherwise relating to SCOPIC remuneration in excess of the Article 13 Award shall be made in General Average or under the vessel’s Hull and Machinery Policy by the owners of the vessel.

  • Hull and Machinery Insurance to the greater of the full market value or mortgage value of each vessel and her equipment used in performing services hereunder.

  • During the period commencing with the first loading and terminating with the final discharge of the Vessel, the Owner shall have in place marine insurance coverage on the Vessel including Hull and Machinery, Protection and Indemnity (P&I), War Risk Hull and Machinery including P&I and, if U.S.-flagged, Second Seamen's War Risk Policy.

  • Anytime the activity involves work on navigable water or the work is connected to water related activities, Marine Protection & Indemnity and Hull and Machinery coverage is required.

  • Examples of other insurance claims We would not pay include but are not limited to those which fall under policies for Aviation risks, Builders risks, General Liabilities, Hull and Machinery, Motor Vehicles, Public or Products liability, Professional Indemnity and/or War risks.

  • If Contractor’s Hull and Machinery policy (and Increased Value policy if applicable), War Risk Hull and Machinery policy, or Second Seaman’s War Risk policy contain(s) any provision designed to limit the effect of striking “other than owner” or “as owner” provisions as required in this Paragraph ii., such provisions shall also be amended to ensure Charterer is provided full benefit of the insurance for its acts as Charterer.

  • If Contractor’s Hull and Machinery policy (and Increased Value policy if applicable), War Risk Hull and Machinery policy, or Second Seaman’s War Risk policy contain(s) any provision limiting coverage under the policy only to liabilities arising as owner of the vessel, Contractor shall arrange for such limiting provision to be stricken from the policy.

  • Owner shall obtain Hull and Machinery Insurance underwriters’ prior consent to such port risk insurance at the time of each renewal.

  • Examples of other insurance claims We would not pay include but are not limited to those which fall under policies for Aviation risks, Builders risks, General Liabilities, Hull and Machinery, Motor Vehicles, Public or Products liability, Professional Indemnity and/or War risks.We do not cover liabilities for hull and machinery risks for which You would have insurance cover under a separate policy or policies, were You to be fully insured for such risks.

Related to Hull and Machinery

  • Farm machinery means all machines and tools that are used in the production, harvesting, and care of farm products, and includes trailers that are used to transport agricultural produce or agricultural production materials between a local place of storage or supply and the farm, agricultural tractors, threshing machinery, hay-baling machinery, corn shellers, hammermills, and machinery used in the production of horticultural, agricultural, and vegetable products.

  • Machinery means any article or combination of articles assembled, arranged or connected and which is used or intended to be used for converting any form of energy to performing work, or which is used or intended to be used, whether incidental thereto or not, for developing, receiving, storing, containing, confining, transforming, transmitting, transferring or controlling any form of energy;

  • Vessels shall have the meaning set forth in the recitals.

  • School equipment means a durable school-owned machine, equipment, or tool used by a student as part of an activity, course, or program in a secondary school and includes a saw or 3D printer. “School equipment” includes a saw or 3D printer.

  • Qualified machinery and equipment means all new industrial

  • Machinery and equipment shall have the meaning specified in Section 1.1(c).

  • Associated equipment means equipment that is used in conjunction with a radiographic exposure device to make radiographic exposures that drives, guides, or comes in contact with the source, e.g., guide tube, control tube, control (drive) cable, removable source stop, “J” tube and collimator when it is used as an exposure head.

  • Standard equipment means the basic configuration of a vehicle which is equipped with all the features that are required under the regulatory acts of the Contracting Party including all features that are fitted without giving rise to any further specifications on configuration or equipment level.

  • Motorboat means the same as that term is defined in Section 73-18-2.

  • Leased Equipment means the computers, servers, machinery and equipment and other tangible personal property leased by Seller for use in the operation or conduct of the Business.

  • Ship means a vessel of any type whatsoever operating in the marine environment and includes hydrofoil boats, air-cushion vehicles, submersibles, floating craft and fixed or floating platforms.

  • Computer equipment means Covered Property that is electronic computer or other data processing equipment, including peripherals used in conjunction with such equipment, and electronic media and records.

  • The Vessel means the vessel named in Box 5 and with particulars as stated in Boxes 6 to 12.

  • Engines means, as of any date of determination, all Engines then leased hereunder.

  • Furniture means articles of which wood, reeds, rattan, cane, seagrass or metal comprise the whole or part and such as are usually made or assembled by cabinet makers, assemblers in the furnishing trades, chair and couch makers, upholsterers, wood carvers, or wood turners; and

  • Equipments and ‘Plants’ shall mean and include all sorts of machineries and accessories, apparatus, instruments, components manufactured articles and parts etc. to be supplied or provided by the contractor under the terms of the contract , unless otherwise specified

  • Tooling means tools funded or provided by the Buyer.

  • Accessory equipment means any equipment associated with the installation of a wireless telecommunications facility, including but not limited to cabling, generators, fans, air conditioning units, electrical panels, equipment shelters, equipment cabinets, equipment buildings, pedestals, meters, vaults, splice boxes, and surface location markers.

  • Electrical equipment means underground equipment that contains dielectric fluid that is necessary for the operation of equipment such as transformers and buried electrical cable.

  • Accessories means all fixtures, equipment, systems, machinery, furniture, furnishings, appliances, inventory, goods, building and construction materials, supplies and other articles of personal property, of every kind and character, tangible and intangible (including software embedded therein), now owned or hereafter acquired by Grantor, which are now or hereafter attached to or situated in, on or about the Land or Improvements, or used in or necessary to the complete and proper planning, development, use, occupancy or operation thereof, or acquired (whether delivered to the Land or stored elsewhere) for use or installation in or on the Land or Improvements, and all Additions to the foregoing, all of which are hereby declared to be permanent accessions to the Land.

  • Vessel means the vessel/craft belonging to the Contractor for carrying out the work.

  • Transportation equipment means any of the following:

  • Sailboat means the same as that term is defined in Section 73-18-2.

  • Houseboat means watercraft primarily used as habitation and not used primarily as a means of transportation.

  • Fixtures and Equipment means, with respect to any Person, all of the furniture, fixtures, furnishings, machinery and equipment owned or leased by such Person and located in, at or upon the Assets of such Person.

  • Farm equipment means equipment used directly for farming