Calculation of Loading Compensation (P/L). The compensation due from Owner to Charterer as a result of the Vessel or Owner not meeting the guaranteed loading time specified in section 16.4 and Schedule I of this Charter shall be calculated as follows: ***** where: RPH = the hourly time charter rate, calculated as the average Hire Rate during the relevant Performance Period, divided by 24 hours. EHL = the excess hours (including parts thereof), calculated as the amount, if any, by which the ALT for the relevant voyage (subject always to the other exceptions provided in section 16.4 of this Charter) exceeds the guaranteed loading time as specified in section 16.4 and Schedule I of this Charter.
Appears in 2 contracts
Sources: LNG Regassification Vessel Time Charter Party (Exmar Energy Partners LP), LNG Regassification Vessel Time Charter Party (Exmar Energy Partners LP)