Common use of Charter Term Clause in Contracts

Charter Term. This Charter shall be effective on this date, / /2021 [Desire Charter Date] and time [Place an (X) on Desired Charter Timeframe]: 10am to 1pm 2pm to 5pm 2pm to 6pm 3pm to 6pm 8pm to 11pm Other Timeframe Agreed upon: *This Charter may be extended upon the request of either Party provided that (a) There is no scheduling conflict with other reserved charters (b) Any extension shall be subject to the mutual consent of the Parties; (c) The requesting Party shall notify the other party in writing of its intention to extend the Charter for no more than one (1) hour after the end of the current term. The notification must be received at least [2 hours] prior to the end of the current term; and (d) the requesting Party is not in default of this Charter at the time of sending the extension notice and at all times before the expiry of the current term. Unless otherwise agreed upon by the Parties, all terms and conditions of this Charter shall remain the same, as may be applicable, the Initial Term and the Extension.

Charter Term. This Charter shall be effective on this date, / /2021 /2020 [Desire Charter Date] and time [Place an (X) on Desired Charter Timeframe]: 10am to 1pm 3pm to 6pm 2pm to 5pm 2pm to 6pm 3pm to 6pm 8pm to 11pm Other Timeframe Agreed upon: *This Charter may be extended upon the request of either Party provided that (a) There is no scheduling conflict with other reserved charters (b) Any extension shall be subject to the mutual consent of the Parties; (c) The requesting Party shall notify the other party in writing of its intention to extend the Charter for no more than one (1) hour after the end of the current term. The notification must be received at least [2 hours] prior to the end of the current term; and (d) the requesting Party is not in default of this Charter at the time of sending the extension notice and at all times before the expiry of the current term. Unless otherwise agreed upon by the Parties, all terms and conditions of this Charter shall remain the same, as may be applicable, the Initial Term and the Extension.