Specified Vessel definition
Examples of Specified Vessel in a sentence
For Vessels that are not subject to a Charter Party (each an “Unchartered Vessel”), all rights and title in and to the Unchartered Vessels will be transferred to the Buyer(s) at Closing pursuant to the MoA for the relevant Unchartered Vessel, free and clear of all Encumbrances, against payment of the Specified Vessel Price.
Specified Vessel: any of the four Vessels identified on Schedule 1.1C.
Upon the occurrence of a Suspension Event, the amount of Excess Specified Vessel Proceeds shall be reset at zero.
In the event the Purchase Price is increased following the Adjustment Date in accordance with this clause 2.3, the Specified Vessel Price of each Vessel listed on Schedule 9 (the “Scheduled Drydock Vessels”) will increase on a pro rata basis relative to the Specified Vessel Prices of all Scheduled Drydock Vessels.