Ships. Each Ship is or will be at the Delivery Date:
Ships. As of the relevant Drawdown Date, each Ship will be:
Ships. As of the acquisition date in respect of each Ship, such Ship will be:
Ships. Each Ship is:
Ships. Each Ship is on and as of the date of this Agreement:
Ships. Not less than seven days prior to the ETA of a Ship, the Vessel Party shall provide a written nomination for such Ship to the Terminal Party. The Terminal Party shall confirm the nomination in writing based on the dock availability and approval by Sterling’s vetting process. If the Terminal Party does not accept the Ship then the Terminal Party shall indicate each unacceptable item in writing. Once all of the items are resolved, the Terminal Party shall accept the Ship.
Ships. After a Ship has received all port clearances and arrived at the anchorage or other place of waiting, and is otherwise in all respects ready to receive or discharge the goods or products, the master of the Ship (or his agent) shall tender NOR of the Ship to the Terminal by letter, telegraph, telex, facsimile or electronic message means or other written communication. The Terminal shall attempt to berth the Ship on an equal basis with all other Vessels arriving at the port to load or discharge cargoes in the same order as the order in which the Terminal receives NORs from the Ship and all other Vessels. The giving or acceptance of NOR shall not be deemed or construed to constitute an acceptance or change in the Ship’s laycan. If a Ship tenders NOR prior to 0001 hours, local time, of the first day of the laycan, such NOR shall not be effective until 0001 hours, local time, of the first day of the laycan, unless the Terminal elects to accept the Ship earlier, in which case used laytime shall commence when the Ship is all fast. Unless the Terminal Party consents otherwise in writing, in no event will laytime commence prior to 0600 on the first day of the laycan.
Ships. The allowed laytime shall be either a specified number of hours or at a pumping rate as defined in the Agreement, subject to a 12-hour minimum. If allowed laytime is not specified in the Agreement, then laytime allowed shall be the number of hours or at the pumping rate (in metric tons per hour) set forth below and based on Cargo lot size, or as may otherwise be mutually agreed between the Parties. If the Terminal will not permit loading or discharging of Cargo within the specified time or at the agreed pumping rate, then the additional time necessary therefore shall be deemed to be used laytime. Cargo Lot Size Loading/Unloading Rate ³ 6,000 MTs 100 XX/xx 0 2,000 but < 6,000 MTs 100 XX/xx 0 1,000 but < 2,000 MTs 75 MT/hr < 1,000 MTs 12 hrs If a Vessel arrives on the first day of the laycan, laytime shall commence on the later of (i) six hours after acceptance of NOR from the Terminal to load or discharge, and (ii) Vessel arrival and completion of mooring at berth (all fast). The Terminal Party shall always be entitled to the six hours tendering allowance, if needed, whether or not allowed laytime has expired and whether or not the Ship is on demurrage. In the event a Ship arrives prior to the commencement of laydays, laytime shall not commence before 0600 hours local time on the date of commencement of laydays unless the Ship is berthed prior to this time with the Terminal Party’s consent. In the event the Terminal Party agrees to load the Ship prior to commencement of laydays, all such time to be credited against any time the Ship is on demurrage. For purposes of this clause, time to count when the Ship commences loading.
Ships. Upon the date of the making of each Advance (other than an Advance in respect of a deposit on an Additional Ship) and thereafter at all times during the Security Period, each of the Ships:
Ships. In order to create in favor of the Lenders a valid and perfected and enforceable First Preferred Mortgages on the Ships on the Closing Date (subject to any filing and/or recording referred to herein), each Borrower shall have delivered to Citibank copies of all documents necessary to record and/or file the Mortgages with the Panamanian registry, the country of registry of the Ships, in the Consulate of Panama in New York on the Closing Date and subsequently, in Panama City, Panama, including those items listed below and each Borrower shall have taken all such actions to so record and/or file the Mortgages with the Panamanian registry in the Consulate of Panama in New York on the Closing Date:
