Chartered SPV definition

Chartered SPV means any SPV awarded a Time Charter by or on behalf of Petrobras; “Awarded Time Charter” means a Time Charter awarded to an SPV by or on behalf of Petrobras; “Option Period” means the period beginning on the date of this Agreement and ending on the later of February 28, 2013 or 14 calendar days after the award of each Awarded Time Charter unless further extended by the parties hereto in writing; and “Consideration” means, in connection with the acquisition of the Awarded Time Charter, the Chartered SPV and the Charter Holding Entity, if any, a purchase price of $2,200,000, which shall be payable in cash as follows: (i) 25%, or $550,000 at the Closing Date, (ii) 25%, or $550,000, ninety (90) days after the Closing Date and (iii) 50%, or $1,100,000, one-hundred eighty (180) calendar days after the Closing Date.
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Examples of Chartered SPV in a sentence

  • The Borrower will not, and will not permit any Loan Party to, create, acquire or permit to exist any Subsidiary other than (i) Subsidiaries in existence on the Effective Date, (ii) Acquired Subsidiaries, the Chartered SPV Interests of which are acquired pursuant to the terms of the Purchase Agreement, and (iii) Subsidiaries created and permitted to exist by the last paragraph of Section 5.02(1) hereof.

  • Upon any SPV having been awarded an Awarded Time Charter, and in no event later than 5 business days thereafter, ▇▇▇▇ shall send the Company a written notice (the “Option Notice”) which shall identify by its full legal name of the Chartered SPV, a description of the material terms of the applicable Time Charter, and all other material business terms related thereto.

  • Each Borrowing Request shall specify, as applicable, (i) the requested date of the Borrowing (which shall be a Business Day), (ii) the principal amount of Terms Loans to be borrowed and (iii) the Scheduled Vessels and, if applicable, the Chartered SPV Interests, to be acquired with the proceeds of such Term Loans.