Bareboat Charter. The Sellers (as charterers) and the Buyers (as owners) have agreed to enter into a Bareboat Charterparty (the "Bareboat Charter") in respect of the Vessel in the form of the draft attached hereto. The parties agree that payment for and acceptance of the Vessel by the Buyers under this Agreement is subject to the simultaneous delivery to and acceptance of the Vessel by the Sellers as charterers under the Bareboat Charter.
Bareboat Charter. In consideration of the rental fees and strict adherence to this Rental Agreement, LESSEE shall be permitted to utilize the watercraft and equipment on a “bareboat charter” basis. LESSEE is free to designate or hire, at LESSEE’s own expense and direction, a captain and/or crew of their own choosing. However, any captain and/or crew hired or designated by LESSEE must be identified and included as a LESSEE on this Rental Agreement, and shall be physically and mentally fit and legally allowed to operate the rented watercraft consistent with this Rental Agreement. Such captain and/or crew shall not be considered employees or under the direction of LESSOR.
Bareboat Charter. (a) Pursuant to the Bareboat Charter Party of even date between the Buyers (as owners) and the Sellers (as charterers) (as the same may be amended, supplemented and varied from time to time, the "Bareboat Charter"), the Buyers have agreed to let and the Sellers have agreed to hire the Vessel upon and subject to the terms and conditions therein.
Bareboat Charter. Subject to the consent of the Maritime Administrator, Perforadora and Xxxxxx hereby agree that the Bareboat Charter shall terminate on the Effective Date and no further action on behalf of the Perforadora Entities or Xxxxxx shall be required to effect such termination.
Bareboat Charter. This charter shall be at all times construed as a bareboat charter and / or a demise charter, and pursuant thereto CHARTERER should keep the Yacht in good repair and will surrender the Yacht at the termination of the charter free and clear of all indebtedness, liens or other charges of any type whatsoever. It is the intention of the OWNER to completely and exclusively relinquish possession, command, control, management, and navigation of the Yacht herein described to the CHARTERER. CHARTERER assumes all responsibility for any injury, death, property damage, any Acts of God or other claim of any nature that may arise during the period of the charter or at any time when the vessel is in the custody and under the control of the CHARTERER.
Bareboat Charter. Upon delivery of the Vessel under this Agreement, the Vessel shall simultaneously be delivered to GMR Concord LLC as bareboat charterer (the “Charterer”) under a bareboat charterparty dated the date hereof entered into between the Buyers as owners and the Charterer as charterers (the “Charter”). If the Charter is not entered into in a legally binding form or is cancelled, or the delivery of the Vessel does not take place under the Charter for any reason whatsoever, this Agreement shall be considered null and void, provided that Clause 14 shall survive. The Sellers shall be fully responsible for the Buyers’ fulfilling the requirement of physical delivery as new owner of the Vessel to the Charterer under the Charter subject to Buyers taking any steps and/or executing any documents at Sellers’ costs reasonably requested by Seller in relation thereto.
Bareboat Charter. Evidence satisfactory to the Agents that the Head Charterer has accepted delivery of the Rig on the Charter Date of Acceptance under the Bareboat Charter and that the Bareboat Charter is in full force and effect.
Bareboat Charter the Agent shall have received a copy, certified by an officer of each of the Borrower and the Operating Entity, of the Bareboat Charter between the Borrower and the Operating Entity;
Bareboat Charter enter into any bareboat charter with respect to any Relevant Vessel, other than such bareboat charter as may have existed as of the Original Closing Date;
Bareboat Charter. (a) Subject to the consent of the Maritime Administrator, Perforadora and Xxxxxx hereby agree that the Bareboat Charter shall terminate on the Effective Date and no further action on behalf of the Perforadora Entities or Xxxxxx shall be required to effect such termination; PROVIDED, HOWEVER, that, upon such termination (and notwithstanding anything to the contrary contained in the Bareboat Charter), the following provisions shall apply: (a) the Bareboat Charter shall be deemed to have terminated as of the date hereof and a final accounting shall be made in accordance with the terms of the Bareboat Charter as if it had been terminated on the date hereof and (b) Xxxxxx shall be deemed to have been the "Owner" of the Rig under the Bareboat Charter from and after the date hereof and, consequently, all of the revenues from, and expenses (including debt service with respect to the Title XI Bonds) of, operating the Rig under the Bareboat Charter from and after the date hereof shall be for the account of Xxxxxx. On the Effective Date, Perforadora shall repay to Xxxxxx all Hire and Supplemental Hire paid by Chiles under the Bareboat Charter for all periods after the date hereof; PROVIDED, HOWEVER, that if Perforadora shall have made any payments of debt service on the Title XI Bonds due after the date hereof, then the aggregate amount of such payments shall be deducted from the amount to be repaid by Perforadora to Xxxxxx on the Effective Date and, PROVIDED FURTHER, that, if the aggregate Hire and Supplemental Hire paid by Chiles under the Bareboat Charter for all periods after the date hereof is less than the aggregate amount of all such payments of debt service on the Title XI Bonds made by Perforadora, then Xxxxxx shall pay to Perforadora on the Effective Date the difference between such aggregate amount of payments on the Title XI Bonds and the aggregate Hire and Supplemental Hire paid by Xxxxxx under the Bareboat Charter. Nothing contained herein shall release the parties to the Bareboat Charter from any liability for a breach thereof prior to the Effective Date (it being understood and agreed that Perforadora shall be liable for any breach as the Owner thereunder on or prior to the Effective Date notwithstanding any transfer of the Transferred Assets and Transferred Liabilities contemplated hereby).
