Basic Hire means the Basic Hire payable throughout the Charter Period pursuant to and computed in accordance with Clause 45 of the Charter.

Basic Hire with respect to any Vessel shall mean payments of charter hire under the applicable Demise Charter payable on each Basic Hire Payment Date, each in an amount equal to Lessor’s Cost of such Vessel multiplied by the Base Rental Factor applicable to such Vessel; provided, however, that (i) if the Charterers do not exercise the early termination options with respect to the Vessels pursuant to Article 10(a) of the Demise Charters, Basic Hire shall be reset as provided in Article 10(b) of such Demise Charters, and (ii) if the Charterers exercise the options to renew in Article 16 of the Demise Charters, Basic Hire for such renewal term shall be determined in accordance with Article 16 of such Demise Charters.

Basic Hire with respect to any Vessel shall mean payments of charter hire under the Demise Charter payable on each Basic Hire Payment Date, each in an amount equal to Lessor’s Cost of such Vessel multiplied by the Base Rental Factor applicable to such Basic Hire Payment Date; provided, however, that (i) if Charterer does not exercise the early termination option with respect to the Vessels pursuant to Article 10(a) of the Demise Charter, Basic Hire shall then be reset as provided in Article 10(b) of the Demise Charter to an amount equal to Lessor’s Cost multiplied by the Remaining Rental Factor, and (ii) if Charterer exercises its option to renew in Article 16 of the Demise Charter, Basic Hire for such renewal term shall be determined in accordance with Article 16.

Examples of Basic Hire in a sentence

It is acknowledged and agreed that the Basic Hire, EBO Prices and Stipulated Loss Values established on the Vessel Delivery Date pursuant to Clause 45(b) above are subject to further adjustment in accordance with Section 1.5(c) of the Agreement to Acquire and Charter.
Upon receipt by the Owner of all amounts above described as payable, this Charter shall terminate and the obligations of the Charterer to pay Basic Hire on each Payment Date occurring on and after the applicable EBO Date shall terminate.
Such Basic Hire shall be payable in quarterly installments in advance commencing on the Payment Date corresponding to the first day of the Renewal Period.
All provisions of this Charter shall be applicable during the Renewal Period, except that the Basic Hire payable under this Charter during each Renewal Period shall be that specified in this Clause 62.
The Charterer shall pay to the Owner for the hire of the Vessel the Basic Hire payable during the Basic Period which is set forth in Box 22, as adjusted pursuant to the Agreement to Acquire and Charter.

More Definitions of Basic Hire

Basic Hire means the hire payable throughout the Charter Period pursuant to and computed in accordance with, Section 9(b) of the Charter.

Basic Hire has the meaning specified in Section 3.1 of the Master Charter.

Basic Hire shall have the meaning set forth in Clause 99 of each of the Time Charters.

Basic Hire means, on any Hire Payment Date,

Basic Hire. An amount equal to the sum of:

Basic Hire shall have the meaning set forth in Section 9.1(a) hereof.