Laytime. (i) For off-shore loading terminal: Time allowed to the Seller for the loading of the standard cargo size of 55 TMT crude oil deliverable hereunder to each vessel shall be 48 running hours, all days and holidays included. This shall be the Laytime. Any time lapsed on account of failure of Xxxxx’s nominated vessel during berthing & loading operation and tendering NOR after 1100 hrs. on Firmed Layday shall not be the part of the time allowed. Moreover, the actual cargo size can be more or less than 55 TMT subject to mutual agreement between Buyer and Seller. And for every 1 TMT or part there of cargo quantity more than the standard cargo size of 55 TMT, allowed time shall increase on pro-rate basis at the rate of 1 hour/TMT. However, for any cargo size less than 55TMT, laytime will remain as 48 hours.
Appears in 5 contracts
Samples: Offtake and Sale Agreement, eps.buyjunction.in, eps.buyjunction.in
