Vessel Construction Contract definition
Examples of Vessel Construction Contract in a sentence
The Borrower ▇▇▇ entered into or will enter into a construction contract (the "Vessel Construction Contract," as more fully defined herein) with Samsung Co., Ltd.
The contract price for the Vessel is Four Hundred Four Thousand, Six Hundred Dollars ($404,600.00) per vessel subject to Article II of the Vessel Construction Contract to which this Exhibit is attached.
Under the Vessel Construction Contract, Borrower is or will be obligated to make certain payments to the Builder.
The Borrower will use the proceeds of the Vessel Construction Loans solely (i) to fund the First Installment payable to the Builder as defined and described in the Vessel Construction Contract, and (ii) to finance the acquisition of BFE.
The Borrower will prepay the aggregate principal amount of the outstanding Vessel Loans in whole, together with all accrued and unpaid interest thereon within 60 days after any date when the Vessel Construction Contract shall have been terminated or rescinded.
It is Borrower's intention to seek construction financing from third party commercial lenders to fund the payments that will be required to be made to the Builder or which may be necessary for the purchase of BFE, but under the Vessel Construction Contract, certain amounts will be due to the Builder prior to Borrower completing the contemplated construction financing and Borrower may also need to purchase BFE prior to the completion of the construction financing.
The Borrower has asked Conoco to make term loans to the Borrower in an aggregate principal amount not to exceed $85,000,000 (including capitalized interest in an aggregate principal amount not to exceed $___________________), the proceeds of which are to be used to pay a portion of the costs due to the Builder under the Vessel Construction Contract prior to the delivery of the Vessel and/or to purchase BFE.
SCHLUETER Authorize▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ -- Final Exhibits To Vessel Construction Contract Entered Into ----------------------------------------------------- as of May 2, 2004 by and between -------------------------------- VT Halter Marine, Inc.
The contract price for each Vessel is Four Hundred Thirty-Six Thousand Eight Hundred Eighty Dollars ($436,880.00) plus any applicable steel surcharges for delivered steel per Vessel, subject to Article II as amended of the Vessel Construction Contract to which this Exhibit is attached.