Calculation of Boil-Off Gas Compensation (P/B) Sample Clauses

Calculation of Boil-Off Gas Compensation (P/B). To determine the P/B compensation, if any, due from Owner to Charterer the BOVT for all Laden Voyages and Ballast Voyages (except for Passages where sea conditions have exceeded ***** for periods in excess of ***** of either the Laden Voyage period or the Ballast Voyage period) completed during the Performance Period shall be determined and compared to “GBOV”, being the aggregate total of LNG in cubic meters that would have resulted if the actual boil-off rates had been identical to the applicable guaranteed boil-off rates for all Voyages. GBOV for all Voyages is determined as follows: ***** where: TETT = the total elapsed time, expressed in hours, for all Voyages during the Performance Period. CTC = cargo tank capacity, as set forth in paragraph 18 of Schedule I, at the maximum filling level of 98.5%. To the extent that BOVT is greater than GBOV, then Owner shall pay Charterer compensation for boil-off in an amount determined by converting the differential in cubic meters into BTU’s and multiplying the result by the FOB price for LNG loaded on the Vessel in effect during the Performance Period. Charterer shall provide Owner with reasonable evidence in support of the said price computation and BTU conversion. Notwithstanding the above, Owner shall receive appropriate credit for any savings arising as a consequence of the use of excess boil-off for the purpose of fuel and thereby reducing bunker compensation. The quantity of bunkers saved shall be determined by consultation between Charterer and Owner, and the value of such savings shall be determined by reference to the average cost of bunkers purchased during the Performance Period. In the absence of manifest error, the volume of LNG at any time shall be determined by reference to the voyage reports and custody transfer documentation referred to in the preamble to this Schedule II. Should cooldown of Regasification Components occur prior to the discharge CTS reading at the LNGRV Buoy, the total boil off will be adjusted for the vapour generated during cooldown through an agreed calculation. Alternatively, the parties may agree to CTS readings prior to the start of cooldown. SCHEDULE III TO LNG VESSEL TIME CHARTER PARTY DSME Hull N° 2254 HIRE RATE AND ADJUSTMENTS 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...
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Related to Calculation of Boil-Off Gas Compensation (P/B)

  • Calculation of Benefits Immediately following delivery of any Notice of Termination, the Company shall notify the Executive of the aggregate present value of all termination benefits to which he would be entitled under this Agreement and any other plan, program or arrangement as of the projected Date of Termination, together with the projected maximum payments, determined as of such projected Date of Termination that could be paid without the Executive being subject to the Excise Tax.

  • Exclusion from Compensation Calculation By acceptance of this Agreement, you shall be deemed to be in agreement that the Units covered hereby shall be considered special incentive compensation and will be exempt from inclusion as “wages” or “salary” in pension, retirement, life insurance and other employee benefits arrangements of the Company and its Affiliates, except as determined otherwise by the Company. In addition, each of your beneficiaries shall be deemed to be in agreement that all such shares be exempt from inclusion in “wages” or “salary” for purposes of calculating benefits of any life insurance coverage sponsored by the Company or any of its Affiliates.

  • Servicer Compensation The Servicer shall withdraw its Servicing Fee for each Mortgage Loan net of any Month End Interest payable pursuant to Section 7.6.1 from the related Custodial P&I Account prior to the remittance of such amounts to the Certificate Account with all other payments received with respect to the Mortgage Loans.

  • Long-Term Compensation Including Stock Options, and Benefits, Deferred Compensation, and Expense Reimbursement.

  • Deduction Limitation on Benefit Payments If the Bank reasonably anticipates that the Bank’s deduction with respect to any distribution under this Agreement would be limited or eliminated by application of Code Section 162(m), then to the extent deemed necessary by the Bank to ensure that the entire amount of any distribution from this Agreement is deductible, the Bank may delay payment of any amount that would otherwise be distributed under this Agreement. The delayed amounts shall be distributed to the Executive (or the Beneficiary in the event of the Executive’s death) at the earliest date the Bank reasonably anticipates that the deduction of the payment of the amount will not be limited or eliminated by application of Code Section 162(m).

  • Servicing Compensation; Payment of Certain Expenses by Master Servicer The Master Servicer may retain the Servicing Fee pursuant to Section 3.02 as compensation for its services in servicing the Mortgage Loans. Moreover, additional servicing compensation in the form of late payment charges or other receipts not required to be deposited in the Collection Account (other than Foreclosure Profits) shall be retained by the Master Servicer. The Master Servicer must pay all expenses incurred by it in connection with its activities under this Agreement (including payment of all other fees and expenses not expressly stated under this Agreement to be for the account of another person) and shall not be entitled to reimbursement under this Agreement except as specifically provided in this Agreement. Liquidation Expenses are reimbursable to the Master Servicer FIRST, from related Liquidation Proceeds and SECOND, from the Payment Account from funds attributable to the related Loan Group pursuant to Section 8.03(a)(x) of the Indenture.

  • Servicing Compensation; Payment of Certain Expenses by Servicer The Servicer shall be entitled to receive the Servicing Fee in accordance with Section 3.03 as compensation for its services in connection with servicing the Mortgage Loans. Moreover, additional servicing compensation in the form of late payment charges and certain other receipts not required to be deposited in the Collection Account as specified in Section 3.02 shall be retained by the Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of all other fees and expenses not expressly stated hereunder to be for the account of the Securityholders, including, without limitation, the fees and expenses of the Administrator, Owner Trustee, Indenture Trustee and any Custodian) and shall not be entitled to reimbursement therefor except as specifically provided herein.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Excess Compensation For purposes of Option (f), (g) or (h), "Excess Compensation" means Compensation in excess of the following Integration Level: (Choose (1) or (2))

  • Share Class Annual Compensation Rate Class R-1 1.00% Class R-2 0.75% Class R-2E 0.60% Class R-3 0.50% Class R-4 0.25% Class R-5 No compensation paid Class R-5E No compensation paid Class R-6 No compensation paid

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