Relevant Charter definition

Relevant Charter has the meaning given to it in Clause 14.3;”;
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Relevant Charter means, in relation to an Original Ship, any time charter party in respect of that Ship entered into by the relevant Borrower and a charterer in all respects acceptable to the Lender, exceeding or which, by virtue of any optional extensions is capable of exceeding, 11 months in duration (as the same may be amended or supplemented from time to time) on terms and substance in all respects acceptable to the Lender.”;
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Relevant Charter means, in relation to the Collateral Ship, any time charter party (including, but not limited to, any Approved Charter (other than the Charter for as long as such charter is not assigned in favour of the Lender)) in respect of that Ship entered into by the Borrower and a charterer in all respects acceptable to the Lender, exceeding or which, by virtue of any optional extensions is capable of exceeding, 11 months in duration (as the same may be amended or supplemented from time to time) on terms and substance in all respects acceptable to the Lender.
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Examples of Relevant Charter in a sentence

  • The Borrower will not, and shall procure that each Owner will not, agree to any amendment or supplement to, or waive or fail to enforce the Relevant Charter to which it is or will become a party or any of its provisions.

  • The Borrower shall, and shall procure that each Owner shall, immediately inform the Lender if the charterer which has entered into a Relevant Charter with the Borrower or, as the case may be, that Owner is in breach of its obligations under that Relevant Charter.

  • Borrowers shall, and shall procure that each Owner shall, immediately inform the Lender if the charterer which has entered into a Relevant Charter with that Borrower or, as the case may be, Owner is in breach of its obligations under that Relevant Charter.

  • The Borrowers shall, and shall procure that each Owner shall, immediately inform the Lender if the charterer which has entered into a Relevant Charter with that Borrower or, as the case may be, Owner is in breach of its obligations under that Relevant Charter.

  • Should the Owners fail to reach agreement with the Charterer with regard to charter rates for more than five (5) Master Charter Ships for the Relevant Charter Year, then they shall not terminate or agree to terminate the Master Charter or agree to the release of such Master Charter Ships from the Master Charter without in each case having first obtained the prior written consent of the Majority Lenders.

  • In the course of such negotiations, the Owners undertake to use all reasonable efforts to negotiate and agree with the Charterer charter rates for each Master Charter Ship for the Relevant Charter Year that fall at or between the lower floor rate and upper ceiling rate established for each such Master Charter Ship for the Relevant Charter Year in the block agreement entered into in connection with the Master Charter.

  • The Borrowers shall, and shall procure that each Additional Owner shall, immediately inform the Lender if the charterer which has entered into a Relevant Charter with that Borrower or, as the case may be, Additional Owner is in breach of its obligations under that Relevant Charter.

  • The Borrowers undertake to maintain in the Retention Account held in the name of Borrower A an amount of not less than $900,000 at all times during the Relevant Charter Period.


More Definitions of Relevant Charter

Relevant Charter means, in relation to a Ship, a time charterparty in respect of that Ship of a duration of equal to or more than 6 months at a daily hire rate acceptable to the Agent but in any case not less than the aggregate of the Breakeven Amount relevant to that Ship, made on terms and with a charterer acceptable in all respects to Agent;
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Related to Relevant Charter

  • Bareboat Charter means the bareboat charter agreement to be executed by the Effective Date by the Borrower as owner and the Charterer as bareboat charterer.

  • Charter contract or "contract" means a fixed-term, renewable contract

  • Time Charter means the time charter party between Owners as owners and Stena Bulk AB (the "Time Charterers") as charterers effective attached hereto as Annex 1. "Agreement" means Part I, Part II, including Additional Clauses 21-31 as well as Annex 1.

  • Parent Charter means the Certificate of Incorporation of Parent, as from time to time amended.

  • Charter Agreement means an agreement made in accordance with Section 53G-5-303 that authorizes the operation of a charter school.

  • Charter means the Corporation’s certificate or articles of incorporation, articles of association, or similar organizational document.

  • Memorandum and Articles of Association means the Memorandum and Articles of Association of the Company, as the same may be amended from time to time.

  • Articles of Association means the Articles of Association of the Company, as amended and restated from time to time.

  • Charters means Kitty Hawk Charters, Inc., one of the Debtors.

  • Charter Assignment means a specific assignment of each Extended Employment Contract required to be executed hereunder by any Borrower in favour of the Security Trustee (including any notices and/or acknowledgements and/or undertakings associated therewith) in such form as the Agent and the Majority Lenders may require in their sole discretion;

  • Shipbuilding Contract means the shipbuilding contract dated 30 March 2011 and made between the Builder and the Borrower for the construction by the Builder of the Ship and its purchase by the Borrower as supplemented and amended from time to time;

  • Company Charter means the certificate of incorporation of the Company, as amended.

  • MOA means the Borrower’s Ministry of Agriculture;

  • Charter Service means, but does not include demand response service to individuals:

  • existing vessel means a vessel that is not a new fishing vessel.

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

  • Charter school means an independent public school

  • Memorandum and Articles means the amended and restated memorandum and articles of association of the Company currently in effect, as may be amended or restated from time to time.

  • Company Charter Documents means the Company’s certificate of incorporation and bylaws, each as amended to the date of this Agreement.

  • 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”);

  • Articles of Incorporation means the Articles of Incorporation of the Company, as amended from time to time.

  • 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:

  • Memorandum of Association means the memorandum of association of the Company, as amended or substituted from time to time;

  • Governing Documents means, with respect to any Person, the certificate or articles of incorporation, by-laws, or other organizational documents of such Person.