Contract Instalment definition

Contract Instalment means an instalment of the Contract Price of the Ship payable under the Shipbuilding Contract;
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Contract Instalment means, in relation to each Contract, each instalment (including for the avoidance of doubt each relevant Steel Cutting Instalment, each relevant Launching Installment and each relevant Keel Laying Installment) of the relevant Contract Price due and payable to the relevant Builder pursuant to such Contract by the relevant Owner in such amount and upon such terms as set out in such Contract;
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Contract Instalment means, in relation to each Contract, each instalment (including for the avoidance of doubt each relevant First Instalment, each relevant Steel Cutting Instalment, each relevant Launching Installment each relevant Keel Laying Installment and each relevant Delivery Installment) of the relevant Contract Price due and payable to the relevant Builder pursuant to such Contract by the relevant Owner in such amount and upon such terms as set out in such Contract;
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Examples of Contract Instalment in a sentence

  • The obligation of the Banks to make available the first Contract Instalment Advance in respect of any Ship shall be subject to the condition that the Agent or its duly authorised representative shall have received, on or prior to the drawdown of the first Contract Instalment Advance for such Ship, the documents and evidence specified in Part 2 of schedule 3 in respect of such Ship, in form and substance satisfactory to the Agent.

  • The obligation of the Lenders to make any Tranche (including the first Tranche) which is a Contract Instalment Tranche shall be subject to the condition that the Facility Agent, or its duly authorised representative, shall have received, on or prior to the day on which that Tranche is intended to be made, the documents and evidence specified in Part 2 of Schedule 3 in form and substance (including as to all commercial terms) satisfactory to the Facility Agent or (as the case may be) the Lenders.

  • The obligation of the Banks to make available any of the second, the third or the fourth Contract Instalment Advance in respect of any Ship shall be subject to the condition that the Agent or its duly authorised representative shall have received, on or prior to the drawdown of the relevant Contract Instalment Advance for such Ship, the documents and evidence specified in Part 3 of schedule 3 in respect of such Ship and such Advance, in form and substance satisfactory to the Agent.

  • The obligation of the Bank to make any Advance which is a Contract Instalment Advance of Facility B shall be subject to the condition that the Bank, or its duly authorised representative, shall have received, on or prior to the day on which that Advance is intended to be made, the documents and evidence specified in Part 4 of Schedule 3 in form and substance satisfactory to the Banks.

  • The obligation of the Lenders to make any Advance (including the first Advance) which is the Contract Instalment Advance shall be subject to the condition that the Facility Agent, or its duly authorised representative, shall have received, on or prior to the day on which that Advance is intended to be made, the documents and evidence specified in Part 2 of Schedule 3 in form and substance (including as to all commercial terms) satisfactory to the Facility Agent or (as the case may be) the Lenders.

  • The obligation of the Banks to make any Advance which is a Contract Instalment Advance or Delivery Date Advance of Facility B shall be subject to the condition that the Agent, or its duly authorised representative, shall have received, on or prior to the day on which that Advance is intended to be made, the documents and evidence specified in Part 4 of Schedule 4 in form and substance satisfactory to the Banks.

  • The obligation of the Banks to make available any of the second, the third or the fourth Contract Instalment Advance in respect of any Ship shall be subject to the condition that the Agent or its duly authorised representative shall have received, on or prior to the drawdown of the relevant Contract Instalment Advance for such Ship, the documents and evidence specified in Part 3 of Schedule 3 in respect of such Ship and such Advance, in form and substance satisfactory to the Agent.

  • The obligation of the Banks to make any Advance which is a Contract Instalment Advance shall be subject to the condition that the Agent, or its duly authorised representative, shall have received, on or prior to the day on which that Advance is intended to be made, the documents and evidence specified in Part 4 of Schedule 4 in form and substance satisfactory to the Banks.

  • The obligation of the Banks to make available the first Contract Instalment Advance in respect of any Ship shall be subject to the condition that the Agent or its duly authorised representative shall have received, on or prior to the drawdown of the first Contract Instalment Advance for such Ship, the documents and evidence specified in Part 2 of Schedule 3 in respect of such Ship, in form and substance satisfactory to the Agent.

  • The obligation of the Lenders to make any Tranche which is a Contract Instalment Tranche shall be subject to the condition that the Facility Agent, or its duly authorised representative, shall have received, on or prior to the day on which that Tranche is intended to be made, the documents and evidence specified in Part 3 of Schedule 3 in form and substance (including as to all commercial terms) satisfactory to the Facility Agent or (as the case may be) the Lenders.