Common use of Calculation of Actual Average Speed Clause in Contracts

Calculation of Actual Average Speed. (i) At the completion of each Performance Period, Charterer shall compute the actual average speed (“AAS”) for the aggregate of all Specified Passages during the Performance Period in accordance with the formula: AAS (in knots) = MT/XX SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH FIVE ASTERISKS (*****). where: MT = the actual total mileage of the actual course which the Vessel traversed for all the laden and ballast Specified Passages during the Performance Period less the mileage deductions required by (ii) below. HS = the actual total hours steamed during all the laden and ballast Specified Passages during the Performance Period less the time deductions required by (ii) below.

Calculation of Actual Average Speed. (i) At the completion of each Performance Period, Charterer shall compute the actual average speed (“AAS”) for the aggregate of all Specified Passages during the Performance Period in accordance with the formula: AAS (in knots) = MT/XX SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH FIVE ASTERISKS (*****). AAS (in knots) = MT HS where: MT = the actual total mileage of the actual course which the Vessel traversed for all the laden and ballast Specified Passages during the Performance Period less the mileage deductions required by (ii) below. HS = the actual total hours steamed during all the laden and ballast Specified Passages during the Performance Period less the time deductions required by (ii) below.

Calculation of Actual Average Speed. (i) At the completion of each Performance Period, Charterer shall compute the actual average speed (“AAS”) for the aggregate of all Specified Passages during the Performance Period in accordance with the formula: AAS (in knots) = MT/XX MT SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH FIVE ASTERISKS (*****). HS where: MT = the actual total mileage of the actual course which the Vessel traversed for all the laden and ballast Specified Passages during the Performance Period less the mileage deductions required by (ii) below. HS = the actual total hours steamed during all the laden and ballast Specified Passages during the Performance Period less the time deductions required by (ii) below.