Initial Charters definition

Initial Charters means any or all of them;

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Initial Charters means either or both of them;

Initial Charters means, together, the Q Jake Initial Charter and the Q Arion Initial Charter and “Initial Charter” means either of them;

Examples of Initial Charters in a sentence

Each of m.v.s Partagas and Raiatea shall be delivered by their Owners to the relevant Charterers and accepted for service under the relevant Initial Charters on 31 October 2014 and 31 January 2015 respectively (or, in any case, within 45 days after each such respective date).
No Borrower shall agree to any material amendment or supplement to, or waive or fail to enforce, any Initial Charter relative to its Ship or any of its provisions (and, without limitation, any reduction to the charter hire rate or to the fixed duration of any Initial Charter (without taking into account any optional extensions) shall be considered a material amendment for the purposes of this Clause 21.26 (No amendments to the Initial Charters)).
The Lender acknowledges that the Initial Charters comply with the requirements of Clause 21.4.2 on the date of this Agreement.

More Definitions of Initial Charters

Initial Charters means Initial Charter A and Initial Charter B.

Initial Charters means (a) in respect of the Collateral Vessel a time charter or other contract of employment in respect of the Collateral Vessel dated 27 October 2010 entered into between the Collateral Owner and the relevant Initial Charterer for a period of duration of not less than 24 months at a daily rate of hire of $24,700 on the terms and subject to the conditions of which the Collateral Owner has chartered the Collateral Vessel to the relevant Initial Charterer and (b) in respect of each Borrower’s Vessel a time charter or other contract of employment dated 2 November 2011 entered into between each Borrower and the relevant Initial Charterer for a period of duration of not less than 36 months at a net daily rate of hire of $28,144 on the terms and subject to the conditions of which each Borrower has chartered its Borrower’s Vessel to the relevant Initial Charterer.

Initial Charters means (a) in respect of the Vessel, a time charter or other contract of employment in respect of the Vessel dated 27 October 2010 entered into between the Borrower and the relevant Initial Charterer for a period of duration of not less than 24 months at a daily rate of hire of $24,700 on the terms and subject to the conditions of which the Borrower has chartered the Vessel to the relevant Initial Charterer and (b) in respect of each Collateral Vessel, a time charter or other contract of employment dated 2 November 2011 entered into between each Collateral Owner and the relevant Initial Charterer for an initial period of duration of not less than 36 months at a net daily rate of hire of $28,144 on the terms and subject to the conditions of which each Collateral Owner has chartered its Collateral Vessel to the relevant Initial Charterer, and ‘Initial Charter’ means any one of them.”;

Initial Charters means, in respect of a Vessel, the time charter entered into between each Borrower and the relevant Initial Charterer evidenced by a recap dated 14 November 2013 in respect of Vessel A and 15 November 2013 in respect of Vessel B, with a period of duration between eleven (11) and thirteen (13) months commencing from the Delivery Date of each Vessel at a daily rate of hire equal at any given time to 102.75% of the average of the four time charter routes as published by the Baltic Capesize Index and otherwise on the terms and conditions to be contained therein and "Initial Charter" means either one of them.