Charterparty definition

Charterparty means, in relation to a Ship, any charterparty in respect of that Ship of a duration exceeding or capable of exceeding 12 months, made on terms and with a charterer acceptable in all respects to the Lenders;

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Charterparty means any time or bareboat charter or any pool agreement or any other agreements of employment entered or to be entered into between the Borrower and the relevant Charterer for the chartering of the Vessel for a period exceeding 24 Months, in form and substance acceptable to the Agent (on behalf of the Finance Parties).

Charterparty means, in relation to each Ship, the Initial Charterparty or the Future Charterparty in respect of that Ship;

Examples of Charterparty in a sentence

• In the event of any conflict between the instructions and this Charterparty, the Charterparty shall prevail.

• Following a period of financial difficulties, the Company, the Co-ordinating Committee and certain of the Charterparty Owners and the Bareboat Owners entered into the Restructuring Heads of Terms and have been in negotiations, with the objective of reaching an out-of-court agreement for the financial restructuring of the Company and the Group.

• If a Borrower enters into any Charterparty, that Borrower shall, at the request of the Agent, execute in favour of the Security Trustee a Charterparty Assignment, and shall deliver to the Agent such other documents equivalent to those referred to at paragraphs 3, 4 and 5 of Part A and 6 of Part B of Schedule 3 hereof as the Agent may require.

• Any such amounts payable in respect of the Underwriting Fee, Company Advisor Fees, Charterparty Owner Costs, Restructuring Advisor Costs or Majority Charterparty Advisor Costs, shall be paid by wire transfer of immediately available U.S. Dollar funds or by way of funds flow letter as directed by the applicable Company Advisor, Restructuring Advisor, Majority Charterparty Advisor or the Original Time-Charter Owners or Original Bareboat Owners.

• Each Member shall enter into a Charterparty with any third party as suggested by the Manager in respect of its Initial Member Vessel(s) on the date of this Agreement pursuant to the provisions of this Agreement and in particular the provisions of clause 4.2(a).

More Definitions of Charterparty

Charterparty means any bareboat charterparty or any time charterparty in respect of a Ship of a duration (or capable of being or exceeding a duration) of 11 months or more, made on terms and with a charterer acceptable in all respects to the Lenders, such acceptance not to be unreasonably withheld;

Charterparty means each of the time charterparty(ies), bareboat charterparty(ies) or other contracts of employment (as the case may be) made between a Borrower (as owner) and the relevant Charterers for the charter of the Vessels.

Charterparty or “Charterparties” means collectively, all time, voyage or consecutive voyage charters, contracts of affreightment, transportation contracts or other contracts or arrangements from time to time entered into under this Agreement in respect of Agreement Vessels;

Charterparty means in respect of the Vessel any time charterparty entered or to be entered by the Owner or any person, firm or company on its behalf, as owner, and a charterer acceptable to the Bank (herein a “Charterer”), which Charterparty exceeds or is capable of exceeding twelve (12) months in duration and on terms and conditions in all respects acceptable to the Bank (and shall include any addenda thereto) and includes the C & Shipping Charterparty;

Charterparty means, in relation to each Ship, any time charterparty in relation to that Ship (including, without limitation, any Approved Charter in relation to that Ship) for a duration exceeding 11 months (or having an unexpired duration exceeding, or capable of exceeding, 11 months) and any guarantee of such charter or any bareboat charter in respect of that Ship to be entered into by the Borrower owning that Ship and a charterer and, in the plural, means all of them;

Charterparty means the charterparty to be entered into between the Buyers and the Charterer in respect of the Vessel before the date of delivery of the Vessel under this Agreement in the form set out in Appendix A hereto.

Charterparty means, in the case of a Ship, any time charterparty in respect of that Ship (including, without limitation, an Approved Charter) for a duration exceeding 11 months (or having an unexpired duration exceeding, or capable of exceeding, 11 months) and any guarantee of such charter or any bareboat charter in respect of that Ship to be entered (in the case of a bareboat charter, in accordance with Clause 14.17(b)) into by the Borrower which is the owner of that Ship and a charterer and, in the plural, means all of them;