Vessel definition
Examples of Vessel in a sentence
OWNERS acknowledge XXXXX’x long term and substantial presence in the port and waive any right to demand that XXXXX post security in connection with any claim by or on behalf of OWNERS or the Vessel being assisted for any expense, loss or damage claimed to have arisen, in whole or in part, as a result of any service rendered in connection with this Schedule.
Notwithstanding anything contained herein, in providing services to the assisted Vessel, XXXXX is relying upon the credit of the Vessel, and maintains its right to assert a lien against said Vessel for any amounts due for the services rendered, including those referenced above.
The provision of such Tug services to any Vessel aground or in distress or during heightened Coast Guard port conditions shall be subject to the terms and conditions of this Schedule in all instances.
Pursuant to the terms of the Contract, if there is any delay in delivery of the Vessel which continues for a period of 180 days from the thirty-first day after the agreed delivery date, then after such period has expired, the Purchaser may at its option rescind the Contract.
The Company has undertaken that within ten days after receipt of a refund guarantee which covers all installments before delivery of the Vessel and which is expected to be received on or around 28 July 2008, the Company will execute a guarantee in favour of the Builder pursuant to which the Company agrees to guarantee the full and punctual payment of each installment of the Vessel by the Purchaser in accordance with the terms of the Contract.