Vessel Expenses definition
Vessel Expenses means, in relation to each Vessel, all expenses incurred in connection with the crewing and operation of such Vessel, including (i) brokers' commissions payable to third parties, (ii) voyage expenses, (iii) insurance expenses and, (iv) other relevant expenses incurred by Euromar, the relevant Owner, the Manager, Eurobulk and/or Eurochart in relation to such Vessel in the course of providing the Management Services.
Vessel Expenses means, in relation to a Collateral Vessel, the aggregate expenditure necessarily incurred by the applicable Vessel Owner in operating, insuring, maintaining, repairing and generally trading that Collateral Vessel (including, without limitation any crewing fees paid under a Management Agreement) and general and administrative expenses paid in respect of that Collateral Vessel.
Vessel Expenses means, in relation to each Vessel, all expenses incurred in connection with the crewing and operation of such Vessel, including (i) brokers' commissions payable to third parties, (ii) voyage expenses, (iii) insurance expenses and, (iv) other relevant expenses incurred by Euromar, the relevant Owner, the Manager, Eurobulk and/or Eurochart in relation to such Vessel in the course of providing the Management Services. "Vessels" means the vessel or vessels purchased by any of Euromar or the Owners, pursuant to the terms of the Limited Liability Company Agreement, as listed in Schedule 1 to this Agreement, each a "Vessel" (and as may be amended from time to time pursuant to Clause 20). "Vessel Management Fee" has the meaning given to such term in Clause 8.1. "Vessel Revenue" means, in relation to each Vessel, the gross revenue earned from the operation of such Vessel, including charter hire, commissions, interest, currency gains and other income of any kind. "Voting Securities" means securities of all classes of a Person entitling the holders thereof to vote on a regular basis in the election of members of the board of directors or managers or other governing body of such Person.
Examples of Vessel Expenses in a sentence
In the event that the Company is unable to finance any shortfall in the funding available to the Company and/or to meet any cost overrun in the Vessel Expenses and/or to provide working capital for the Company and the Vessel from its own resources or from third parties, the Shareholders may agree to advance all such moneys as may be required by the Company, and the advances will be made in proportion to their respective shareholdings in the Company.
More Definitions of Vessel Expenses
Vessel Expenses has the meaning ascribed in Clause 11.2 hereof.