Container Vessel definition
Examples of Container Vessel in a sentence
SECTION 4.8. If a Vessel (which expression for the purposes of this Section shall include any Newbuild to be acquired by a Subsidiary) and a Container Vessel directly or indirectly owned or operated by a third party are both available and meet the criteria for a charter being fixed by the Manager, the Vessel shall be offered such charter first and the Parent shall have 48 hours from such offer being received to accept such offer, failing which such charter shall be then offered to the relevant third party.
If a Vessel (which expression for the purposes of this Section shall include any Newbuild to be acquired by a member of the Group) and a Container Vessel directly or indirectly owned or operated by a third party are both available and meet the criteria for a charter being fixed by the Manager, the Vessel shall be offered such charter first and the Parent shall have 48 hours from such offer being received to accept such offer, failing which such charter shall be then offered to the relevant third party.
If a Vessel and a Container Vessel directly or indirectly owned or operated by the Partnership are both available and meet the criteria for a charter being fixed by the Manager, the Vessel shall be offered such charter first, provided that such Vessel shall be subject to the terms of the Omnibus Agreement, as applicable.
In any action or proceeding brought against a third party not involved in, or attempting to enter, the Container Vessel Business, any recoveries (including settlements) shall belong to the party which commenced such action.
Any recoveries (including settlements) resulting from any such action or proceeding brought against a third party involved in, or attempting to enter, the Container Vessel Business shall belong to Licensee; provided that Licensor is first reimbursed for all reasonable attorneys’ fees, costs and other expenses incurred by Licensor in connection with such action or proceeding.
SECTION 4.1. Set forth below are the right of first refusal procedures applicable to a Container Vessel Opportunity.
During the Term, Licensor shall maintain all registrations for the Trademarks to be used in connection with the Container Vessel Business; provided that the relevant ▇▇▇▇ is being used in commerce or otherwise as required by applicable law.
If any such sale or Transfer of any such Container Vessel is not consummated within such 180-day period (or such longer period as shall be necessary to obtain any regulatory or governmental approval required in connection with such sale or Transfer), neither the Company nor any of its Subsidiaries may Transfer such Container Vessel without first complying again with its obligations under this Section 3.
Licensor shall not enter into any settlement with such third party involving a claim related to the Container Vessel Business without the prior written consent of Licensee, which shall not be unreasonably withheld or delayed.
Licensor hereby grants to Licensee and its Subsidiaries the non-transferable, royalty-free license and right, but not the obligation, to use the Trademarks in connection with its operation of the Container Vessel Business as currently, or as from time to time, conducted in the Territory (as hereinafter defined), including all rights to promote and exploit the Trademarks in connection with the Container Vessel Business.