Cost and Hire Status Sample Clauses

Cost and Hire Status. (a) The cost of work required to make the modifications set forth in Clauses 5.1(a) and (b) (the “Alteration Work”) shall be the documented cost thereof and the time taken for such works shall be deemed to include Vessel’s deviation time to, time spent at, and time spent returning from the location where the Alteration Work is performed until the Vessel has regained a position equivalent to that when the Vessel deviated for the Alteration Work.

Cost and Hire Status. (a) The cost of work or other activities or actions required to implement or effect the Change in Law Required Actions or other modifications of whatever nature, as set forth in Clauses 5.2, 6.1 and 6.2 (the “Implementation Requirements”) shall be the documented cost thereof (including any internal resources and associated expenses) and the time taken for such Implementation Requirements shall, if following the Actual Arrival Date, be deemed to include all time in which the Vessel is incapable of providing or commencing the FSRU Services in connection with such Implementation Requirements and/or the reasons therefor (including any time spent away from the Terminal or out of service while the Implementation Requirements are effected).

Cost and Hire Status. (a) The cost of work required to make the modifications set forth in Clauses 58.l(a) and 58.l(b) (the Modification Work) shall be subject to approval by PREPA following receipt of full details of the costing of such Modification Work from EE and shall, with respect to capital costs, be the documented cost thereof plus 12.4% and the time taken for such works shall be deemed to include Vessel's deviation time to, time spent at, and time spent retuming from the location where the Modification Work is performed until the Vessel has regained a position equivalent to that when the Vessel deviated for the Modification Work. The cost of Modification Work shall, at PREP A's election at the time of approving the Modification Work, either be paid as a lump sum payment to EE within 30 days of receipt of an invoice from EE complying with the requirements of Clause 9, or be accounted for by way of an adjustment to Hire in accordance with Clause 58.2(d), through a written amendment to the Charter, during (i) the Initial Term, for any such costs incurred either prior to the Vessel going On Hire or during the Initial Term, and (ii) the Extension Term, for any such costs incurred during the Extension Term, as the case may be. Where the Operating Cost Component is at any time being calculated on a Fixed Charge Basis or a Fixed Charge Reopener Basis, the Operating Cost Component will also be subject to adjustment to the extent EE reasonably demonstrates that changes required under Clauses 58.l(a) and 58.l(b) will increase the costs in respect of the Opex Elements.