Optional Vessels definition

Optional Vessels means C. Dream, Xxxx Xxxxxxx, Xxxx Galactic, Xxxx Quasar, Xxxx Buena Suerte, Xxxx Neutrino and Xxxx Electron;
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Optional Vessels means the Initial Optional Vessels, including any charters or other agreements relating to the operation or ownership of such vessels then in effect, and the Optional Interests corresponding to the Additional Optional Vessels.
Sample 1
Optional Vessels means C. Dream, Nave Celeste, Nave Galactic, Nave Quasar, Nave Buena Suerte, Nave Neutrino and Nave Electron; “Services” has the meaning set forth in the recitals to this Agreement;
Sample 1

Examples of Optional Vessels in a sentence

  • On April 12, 2016, we amended and restated the Omnibus Agreement, to, among other things, include as Optional Vessels our Sponsor's minority ownership interest in the five entities that respectively own each of the Additional Optional Vessels.

  • The Builder further reserves the right to adjust the contract price and other relevant contract terms for the Optional Vessels reflecting any change order(s) for the Vessel entered into between the Buyer and the Builder after the date of signing this Contract.

  • Form and substance of the Shipbuilding Contract of the Optional Vessels shall be the same as those agreed for the Firm Vessels with logical amendments.

  • All payments under the shipbuilding contract(s) for the Optional Vessel(s) shall be made in Norwegian Kroner (NOK), or provided that an Exchange Rate Agreement in the form of Appendix VIII to the Shipbuilding Contract, is entered into latest within 15:00 CET on the date of effectiveness of the shipbuilding contract for the Optional Vessel(s), an equivalent amount in USD based on the relevant currency set out therein.

  • The contract price for the Optional Vessels as set out herein, is subject to delivery dates for the Optional Vessels within the dates set out in clause 3, full re-use of the engineering documentation and use of equipment identical to the equipment included in the Vessel on the date of signing this Contract.

  • The delivery dates for the Optional Vessel(s) shall he determined by the parties but the first Optional Vessel shall be delivered no later than 12 months after delivery of the Vessel, and the second Optional Vessel shall be delivered no later than 12 months after delivery of the first Optional Vessel, subject always to free capacity at the Builder’s shipyard and free capacity at the Builder’s subcontractor’s hull yard.

  • If the Buyer exercises the option in writing within the time limits set out in clause 5 below, the Buyer and the Builder shall within seven (7) Working Days thereafter, enter into an effective and binding shipbuilding contract for the Optional Vessel(s).

  • For the avoidance of doubt, if the option for the first Optional Vessel is not exercised by the Buyer within the option period of six (6) months as set out in this clause 5, the Buyer’s option to purchase the Optional Vessels shall cease in full.

  • It is expected that the Builder as a condition for its consent to such novation will require that the Company guarantees the performance of Hunter Tankers under the Shipbuilding Contracts in the same fashion as under the Optional Vessels Shipbuilding Contract.

  • In addition, the Newbuilding Option Agreement is subject to Bank of China Ltd, Guangdong Branch approving the issue of refund guarantees for the JNS Optional Vessels, with similar terms as the Refund Guarantees, which shall guarantee the repayment of any consideration paid by the Company for the JNS Optional Vessels.

Related to Optional Vessels

  • Recreational vessel means a vessel—

  • Public vessel ’ means a vessel owned or bareboat chartered and operated by the United States, by a State or political subdivision thereof, or by a foreign nation, except when such vessel is engaged in commerce;

  • Passenger vessel means any boat, ship, vessel, barge, or other floating craft of any kind carrying passengers for compensation.

  • Coastal vessel means any vessel exclusively employed in trading between any port or place in India to any other port or place in India having a valid coastal license issued by the competent authority.

  • U.S.-flag vessel means a vessel of the United States or belonging to the United States, including any vessel registered or having national status under the laws of the United States.

  • Fleet Vessels means all of the vessels (including, but not limited to, the Ships) from time to time wholly owned by members of the Group (each a “Fleet Vessel”);

  • Commercial vessel means any vessel not owned and operated by the United States military or the United States Coast Guard.

  • Delivery vessel means tank trucks or trailers equipped with a storage tank and used for the transport of gasoline from sources of supply to stationary tanks of gasoline dispensing facilities.

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

  • existing vessel means a vessel which is not a new vessel;

  • fishing vessel means a vessel used for catching fish, whales, seals, walrus or other living resources of the sea;

  • Covered vessel means a tank vessel, cargo vessel, or passenger vessel.

  • Cargo vessel means a self-propelled ship in commerce, other than a tank vessel or a passenger vessel, three hundred or more gross tons, including but not limited to, commercial fish processing vessels and freighters.

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

  • Tank vessel means a ship that is constructed or adapted to carry, or that carries, oil in bulk as cargo or cargo residue, and that:

  • Mortgaged Vessel means, at any relevant time, any Vessel which is at such time subject to a Mortgage and a Vessel shall, for the purposes of this Agreement, be regarded as a Mortgaged Vessel as from the date on which the Mortgage of that Vessel has been executed and registered in accordance with this Agreement until whichever shall be the earlier of (i) the payment in full of the amount required to be paid to the Agent pursuant to clause 4.3 or 4.5 following the Total Loss or sale respectively of such Vessel and (ii) the end of the Facility Period;

  • Foreign flag vessel means any vessel that is not a U.S.-flag vessel.

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

  • ro-ro passenger ship means a passenger ship with ro-ro spaces or special category spaces as defined in regulation II-2/3.

  • passenger ship means a ship which carries more than 12 passengers;

  • pleasure vessel means any vessel which at the time it is being used:

  • foreign fishing vessel means any fishing vessel other than a local fishing vessel;

  • Pressure vessel means a vessel that may be used for containing, storing, distributing, transferring, distilling, processing or otherwise handling any gas, vapour or liquid under pressure greater than the atmospheric pressure and includes any pipeline fitting or other equipment attached thereto or used in connection therewith; and

  • Sailing vessel means any vessel under sail provided that propelling machinery, if fitted, is not being used.

  • Foreign-going vessel means any vessel other than coastal vessel.

  • foreign vessel means any vessel other than a coastal vessel.