Other Vessels definition
Examples of Other Vessels in a sentence
Except for activities and -------------------------------- liabilities contemplated by Operative Documents and the U.K. Documents and comparable documents relating to two Other Vessels and activities incidental thereto, the Charterer has not engaged in any other business or activities or incurred any liabilities.
If any of the Vessel(s) is sold or otherwise disposed of during the term of this Agreement and as a result CSM provides Technical Management Services at any time to fewer than 25 Vessels, DSS shall work in good faith to replace such Vessel(s) with an Other Vessel(s) or an Additional Vessel(s) within six (6) months.
For the avoidance of doubt, if any Vessel has not been delivered to DSS prior to the end of the Transition Period – Other Vessels, CSM shall not be entitled to any payments pursuant to this clause (2)(i) for the period after the Transition Period – Other Vessels other than the Late Delivery Fees which shall only accrue beginning on the 181st day after the INSW Transaction Closing and until the delivery of such Vessel pursuant to the Termination Agreement.
For the avoidance of doubt, if a Vessel is delivered prior to the end of the Transition Period – Other Vessels, the fees for Technical Management Services payable pursuant to this Section 2(i) shall be paid to CSM for the entire Transition Period – Other Vessels, in equal monthly instalments in advance payable at the beginning of every calendar month as if such Vessel were delivered to DSS at end of such Transition Period – Other Vessels.
If any of the Vessels is sold or otherwise disposed of during the term of this Agreement and as a result CSM provides Commercial Management Services at any time to fewer than 25 Vessels, DSS shall replace such Vessel(s) with an Other Vessel(s) or an Additional Vessel(s) within three (3) months, in order for CSM to provide Commercial Management Services for no fewer than 25 Vessels.