Nominated Vessel definition
Examples of Nominated Vessel in a sentence
If the Nominated Vessel is sold, transferred or disposed of during the Term without the approval of the Operator, the Client shall remain liable for all Charges and this Agreement shall continue to apply unless and until all Charges owed to the Operator at the relevant time are paid in full and the new Owner undertakes to be bound by the terms of this Agreement or a new Agreement is put in place between the Operator and the new Owner.
The Client waives any right it may have to receive a copy of the financing statement, verification statement or financing change statement relating to the Nominated Vessel (as these terms are defined in the PPSA).
For the avoidance of doubt, nothing in this Agreement requires the Operator to pilot, handle or manoeuvre the Nominated Vessel in the Berth or the wider marine area.
Subject to clause 7.5, all Charges are due for payment on the earlier of the 20th day of the month following the date of the invoice OR the date that the Nominated Vessel is scheduled to be removed from the Designated Hardstand Area or released from the Berth (as applicable) following the completion of the Services or the earlier termination of this Agreement.
Each notice under this Agreement (excluding any direction or communication of an operational nature by the Operator to the Client or to the Client's Representatives, but including any notice to the Owner under clause 10.3 in relation to the sale of the Nominated Vessel) shall be in writing and delivered personally or sent by post or email.