Laying-up Sample Clauses

Laying-up. 13.1 The Company may decide to lay up the Vessel (and other Pool Vessels) if market conditions justify such a decision. If the Vessel is laid up, the Participant shall receive Distributions calculated according to the Vessel’s Total Costs, but with a reduction for any net savings that the Participant may reasonably be expected to obtain as a result of the Vessel being laid up.

Laying-up. 12.1 Subject to the relevant Pool Participant’s prior consent, which not to be unreasonably withheld, the Company may decide to lay up any Pool Vessel if market conditions justify such a decision. If a Pool Vessel is laid up, the Pool Participant shall receive hire according to the Pool Vessel’s Pool Earning Points but with a reduction for any net savings that the Pool Participant may reasonably be expected to obtain as a result of the Pool Vessel being laid up. If the Pool Participant do not consent to the laying up of its Pool Vessel, they shall have the option to elect to terminate this Agreement by giving ninety (90) days notice, plus or minus thirty (30) days in the Company’s option, in writing to the Company and the Pool Vessel shall not be laid up during such notice period.

Laying-up. 13.1 The Company subject to the approval of the Pool Committee may decide to lay up the Vessel (and other Pool Vessels) if market conditions justify such a decision. If the Vessel is laid up, the Participant shall receive hire according to the Vessel’s Pool Earning Points but with a reduction for any net savings that the Participant may reasonably be expected to obtain as a result of the Vessel being laid up.

Laying-up. (a) Charterers shall have the option, after consultation with Owners, of requiring Owners to lay up the Vessel at a safe place nominated by Charterers, taking into account questions of maintenance access and security and with Owners consent and always subject to Clause 4, in which case the hire provided for under this charter shall be adjusted to reflect any net increases in expenditure reasonably incurred or any net saving which should reasonably be made by Owners as a result of such lay up. Charterers may exercise the said option any number of times during the charter period. (a) Should the Vessel, on Charterers instructions, be laid-up at the expiration of the charter, Charterer shall pay a lump sum ofUSD$40,000 in respect of cleaning the Vessel's hull, such payment to be made within 5 Banking Days of receipt of Owners' invoice. All being equal Charterers shall have the option of providing an alternative hull scrubber if the cost of Charterers proposal is less than USD$40,000.

Laying-up. No Borrower shall, during the Facility Period, lay-up its Vessel without the prior written consent of the Lender.

Laying-up. The Participants may by agreement lay up any Tanker, in which case the distributions of the Tanker Gross Revenue shall be equitably adjusted, taking into account the savings realized by the Participants as a result of such lay up, so as to ensure that the Participant whose Tanker is laid up is not prejudiced by such agreement.

Laying-up. Charterer shall have the right, after consultation with Owner, to require Owner to lay-up the Vessel at a safe place mutually agreed in which case the hire provided for under this Charter shall be adjusted to reflect any net increases in expenditure reasonably incurred or any net saving which should reasonably be made by Owner as a result of such lay-up. Charterer may exercise such right any number of times during the currency of this Charter. During any period of lay-up under this Clause 34, Owner’s duty of maintenance under Clause 4 shall be reduced to the standard ordinarily applied by prudent owners to vessels of the same type in lay-up and Clauses 24 and 27 shall not apply. Until such time as it is practicable for Owner to complete all work required with respect to fouling (as determined by Owner’s surveyor) to restore the Vessel to a condition it would have been in if it had not been laid up, any reduction in the Vessel’s Execution version re Hull 1689 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 (*****). performance due to fouling during a lay-up requested by Charterer under this Clause 34 shill not give rise to a performance claim against Owner. Bottom cleaning, propeller polishing or dry-docking required as a result of lay-up under this Clause 34 shall be for the account of Charterer.

Laying-up. In the event of lay up or extensive repair to a Ship that last for more than three (3) days, the parties shall mutually agree to the extent of down-m▇▇▇▇▇▇ required for the remaining repair period until the Ship is again put into service. Consequential costs of reduction and reinstatement of the Crew shall be for the Owners' account. In the event that the parties cannot agree, the Agreement shall be terminated in respect of the said Ship in accordance with Clause 10.

Laying-up. Charterer may, with Owner’s consent, require Owner to lay up the Vessel at a safe place nominated by Charterer, taking into account questions of maintenance, access and security and always subject to Clause 7. If the Vessel is laid up pursuant to this Clause 35 Hire shall be adjusted to reflect any net increases in expenditure reasonably incurred or any net saving which should reasonably be made by Owner as a result of such lay up. There is no limit to the number of times Charterer may require Owner to lay up the Vessel during the Charter Period.