TECHNICAL RATING. The Vessel will receive a technical rating based on the cumulative sum of the characteristics set out in Annex 1 hereto. The Pool Committee may, with majority vote, adjust or amend the criteria and/or technical rating points for determining a vessel’s technical rating. Compensation for scrubber and non-scrubber vessels respectively shall be calculated in accordance with the Scrubber Formula set out in Annex 2 hereto. The Pool Committee may, with majority vote amend the Scrubber Formula when necessary.
Appears in 2 contracts
Sources: Amendment and Restatement Agreement (Heidmar Maritime Holdings Corp.), Amendment and Restatement Agreement to Working Capital Borrowing Base Facility Agreement (Heidmar Maritime Holdings Corp.)