Time Charter Sample Clauses
A Time Charter clause defines the arrangement under which a vessel is leased to a charterer for a specified period of time, rather than for a single voyage. Under this clause, the charterer gains operational control of the vessel, including the right to direct its employment and select ports of call, while the shipowner remains responsible for the vessel's technical management and crew. This structure allows charterers flexibility in scheduling and trading routes, while shipowners receive a steady income for the agreed duration. The core function of the Time Charter clause is to allocate operational responsibilities and risks between the shipowner and charterer, ensuring clarity and predictability in the vessel's use and financial arrangements.
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Time Charter enter into any Time Charter without notifying the Agent and, if requested by the Agent, providing a copy of such Time Charter (with any confidential information deleted).
Time Charter. The Borrower may not exercise any termination rights under the Time Charter without the prior written consent of the Agent (acting on the instruction of all of the Banks).
Time Charter. The Time Charter is terminated or the Time Charterer is in material default thereunder, unless the Borrower has provided a substitute charter and/or charterer acceptable to the Lenders in their sole discretion within 30 days after such termination; then, the Lenders' obligation to make the Loan available shall cease and the Facility Agent on behalf of the Lenders may, with the Majority Lenders' consent and shall, upon the Majority Lenders' instruction, by notice to the Borrower, declare the entire Loan, accrued interest and any other sums payable by the Borrower hereunder, under the Note and under the other Transaction Documents due and payable whereupon the same shall forthwith be due and payable without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived; provided that upon the happening of an event specified in subclauses (i) or (k) of this Section 8.1, the Loan, accrued interest and any other sums payable by the Borrower hereunder, under the Note and under the other Transaction Documents shall be immediately due and payable without declaration, presentment, demand, protest or other notice to the Borrower all of which are expressly waived. In such event, the Creditors, or any thereof, may proceed to protect and enforce their respective rights by action at law, suit in equity or in admiralty or other appropriate proceeding, whether for specific performance of any covenant contained in this Agreement or in the Note or in any other Transaction Document or in aid of the exercise of any power granted herein or therein, or the Lenders or the Facility Agent may proceed to enforce the payment of the Note when due or to enforce any other legal or equitable right of the Lenders, or proceed to take any action authorized or permitted by Applicable Law for the collection of all sums due, or so declared due, including, without limitation, the right to appropriate and hold or apply (directly, by way of set-off or otherwise) to the payment of the obligations of the Borrower to any of the Creditors hereunder, under the Note and/or under the other Transaction Documents (whether or not then due) all moneys and other amounts of the Borrower then or thereafter in possession of any Creditor, the balance of any deposit account (demand or time, matured or unmatured) of the Borrower then or thereafter with any Creditor and every other claim of the Borrower then or thereafter against any of the Creditors.
Time Charter the Ship remains in service under the Time Charter.
Time Charter. Effective as of the Closing Date, Transfrut and [DAL] shall enter into a time charter agreements (“Time Charters”) whereby Transfrut shall charter the Ships to [DAL] for the Term described below in Section 3.1, in the forms attached as Appendix 1 for each Ship. Such Time Charters shall be fully consistent with the terms and conditions as provided in this Ships Usage Agreement, including for avoidance of doubt that costs of any kind relating to the Ships during the Term shall be borne by [DAL] and that the availability of Ship Usage, as well as the ongoing condition of the Ships is made without warranties or representations of any kind by Dole or its subsidiaries except as provided herein.
Time Charter. It is hereby agreed between the Parties that, upon the Owner’s confirmation to the Charterer of the delivery of the Vessel to the Owner under the Bareboat Charter, and the delivery of the Vessel under this Charter, the Charterer and the Time Charterer automatically (without further action by either the Charterer or the Time Charterer) shall be deemed to have entered into the Time Charter.
Time Charter. IT IS AS OF THIS 31st day of August 1996 mutually agreed by and between MIDSTREAM BARGE COMPANY, L.L.C., a limited liability company organized and existing under the laws of Delaware ("Owner"), as owner of those certain U.S.- flag barges set forth in Exhibit A attached hereto (the "Barges"), and ▇▇▇▇▇▇ PETROLEUM COMPANY, LIMITED PARTNERSHIP, a limited partnership organized and existing under the laws of Delaware ("Charterer"), that Owner lets and Charterer hires the use and service of the Barges for the period and on the terms and conditions hereinafter set forth.
Time Charter. When the vessel is hired for a specified period of time, irrespective of the number of voyages performed.