Capesize Vessel definition
Examples of Capesize Vessel in a sentence
In consideration for the provision of the Services listed in Schedule “A” by NSM to NMLP, NMLP shall, during the first two (2) years of the initial term of this Agreement, pay NSM a fixed daily fee of US$4,000 per owned Panamax Vessel and $5,000 per owned Capesize Vessel, payable on the last day of each month, as set forth in the table below.
Until December 31, 2019, a fixed daily fee of US$4,325 per owned Panamax Vessel, US$4,225 per Ultra-Handymax Vessel, US$5,250 per owned Capesize Vessel, US$6,700 per owned Post-Panamax Container Vessel, payable on the last day of each month.
On the Borrowing Date of a Loan in respect of deposits under Purchase Agreements for any Additional Vessel (other than a Capesize Vessel), each Subsidiary of the Borrower which is entering into a Purchase Contract on such date shall have duly authorized, executed and delivered to the Administrative Agent the Guaranty, and the Guaranty shall be in full force and effect.
Commencing January 1, 2020, a fixed daily fee of US$4,450 per owned Panamax Vessel, US$4,350 per Ultra-Handymax Vessel, US$5,410 per owned Capesize Vessel, US$6,900 per owned 6800TEU Container Vessel, payable on the last day of each month for two years (months one to twenty-four), (the “Fixed Daily Fee”); unless the parties agree otherwise, for each 12 month period after such two years, a 3% increase of the Fixed Daily Fee per Owned Vessel.
On the Borrowing Date of a Loan in respect of deposits under Purchase Agreements for any Additional Vessel (other than a Capesize Vessel), each Credit Party which is consummating a Vessel Acquisition on such date shall have executed and delivered to the Administrative Agent the relevant Assignment of Purchase Contract, to be duly accepted by the named the Seller named in the Purchase Contract, in form and substance satisfactory to the Administrative Agent.