Examples of Supplementary Fund in a sentence
Any such amendment to this Agreement will take effect three months from the date on which written notice is given by the International Group to the Supplementary Fund.
Such proceedings may include an action brought by the Supplementary Fund against a Participating Owner to determine any issue relating to the construction, validity and/or performance of this Agreement.
Any rights of the Supplementary Fund to Indemnification under this Agreement shall be extinguished unless an action is brought hereunder within four years from the date when the Pollution Damage occurred.
A Protocol has been adopted to supplement the 1992 Fund Convention by providing for additional compensation to be available from a Supplementary Fund for Pollution Damage in States which opt to accede to the Protocol.
In consideration of the potential additional burden imposed by the Protocol on receivers of oil, the Participating Owners have agreed to establish the scheme set out herein, whereby the Participating Owners of tankers will indemnify the Supplementary Fund for 50% of its liability to pay compensation under the Protocol for Pollution Damage.
A Protocol has been drawn up and adopted to supplement the 1992 Fund Convention by providing for additional compensation to be available from a Supplementary Fund in States which opt to accede to the Protocol.
It is also intended to encourage widest possible ratification of the Supplementary Fund Protocol, and has been drawn up in recognition of the potential additional burden imposed by the Protocol on receivers of oil.
For this reason the Scheme provides for the owner of the ship involved in an incident to pay Indemnification to the Supplementary Fund, rather than to pay extra sums directly to claimants.
The Clubs have agreed to consult with the Supplementary Fund prior to any decision to terminate TOPIA.
No amendment is to have retrospective effect, and the Clubs have agreed to consult with the Supplementary Fund in good time prior to any decision to amend the Scheme.