Charter Owner definition
Examples of Charter Owner in a sentence
In addition to the other warranties and undertakings set forth in this Charter, Owner undertakes that the Vessel will maintain throughout the Term of this Charter, on all sea passages, from sea buoy to sea buoy, an actual speed of no less than the guaranteed speed established in Schedule I.
In the event Charterer fails to make any payment (including, without limitation, any payment of Hire) due and owing to Owner under this Charter, Owner shall so notify Charterer.
As an essential inducement and consideration for entering into this Charter, Owner is relying on the legal, valid, binding and enforceable nature of the Charterer Security.
Notwithstanding any other provision of this Charter, Owner shall indemnify, defend, and hold harmless Charterer from and against any claim, loss, damage, penalty, liability, expense, including reasonable attorneys’ fees, and costs of whatever nature arising from or relating to a failure to comply with the terms of this section 45(a).
In the performance of this Charter, Owner Group and its Personnel shall comply fully with all applicable laws and regulations and conventions binding on Malaysia and the Flag State.
Before Delivery under the Charter, Owner and Charterer shall agree on insurance cover having regard to the terms of this Schedule IV.
For all other payments and reimbursables, if any, due by Charterer to Owner under this Charter, Owner shall at the end of each month prepare and send to Charterer an invoice for the amounts payable (or credits due to Downtime reduction or Shutdown) by Charterer for such month.
Charterer shall accept and pay for all bunkers and marine gas oil on board at the time of Delivery and, on Redelivery (whether it occurs at the end of the Initial Charter Period, any extension period, or on the earlier termination of this Charter), Owner shall accept and pay for all bunkers and marine gas oil remaining on board, at the price paid at the Vessel’s last place of supply before Delivery or Redelivery, as the case may be.
In the performance of this Charter, Owner shall maintain, or cause to be maintained, complete and exclusive control over Owner Group Personnel.
If during the Performance Period the AFC is greater than the total guaranteed fuel consumption as computed according to the guarantees specified in section 16.2 and Schedule I of this Charter, Owner shall pay to Charterer performance compensation for fuel (P/F) calculated as follows: ***** where: ABC = the weighted average cost per ton of all fuel oil (purchased by Charterer and consumed by the Vessel) during the relevant Performance Period based on GAAP.