Initial Vessels definition

Initial Vessels means Vessel A, Vessel B, Vessel C, Vessel D, Vessel E, Vessel F and Vessel G, and each an "Initial Vessel".
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Initial Vessels has the meaning ascribed thereto in Recital B hereof;
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Initial Vessels means the initial five Vessels to be delivered under the Construction Contract.
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Examples of Initial Vessels in a sentence

  • Basic Hire Basic Hire for Initial Vessels Under each time charter for our Initial Vessels, the daily charter rate for each such vessel, which we refer to as “basic hire,” is payable to us monthly in advance and will increase annually.

  • However, we have obtained loss of hire insurance that will generally provide coverage against business interruption for periods of more than 30 days (in the case of our VLCCs) or 30 days (in the case of our Aframaxes) per incident (up to a maximum of 120 days per incident), following any loss under our hull and machinery policy.The terms of the time charters for our Initial Vessels do not provide the charterers with an option to terminate the charter before the end of their respective terms.

  • The Borrower has requested that the Lender advance an aggregate amount of up to $401,000,000 to the Borrower in order (a) together with the proceeds of the IPO, to assist in the financing of the Initial Vessels, (b) to provide working capital in an amount up to $15,000,000, and (c) to finance all or a portion of the purchase price of Additional Vessels.

  • On November 26, 2008, DHT entered into an agreement with OSG whereby OSG exercised its option to extend the charters for the Initial Vessels upon expiry of the vessels’ initial charter periods.

  • Extension at OSG’s sole option.The charterers for our Initial Vessels are wholly-owned subsidiaries of OSG.


More Definitions of Initial Vessels

Initial Vessels means the Vessels listed in Schedule 7 Part 1 and everything now or in the future belonging to them on board and ashore (each an "INITIAL VESSEL").
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Initial Vessels means, collectively, the vessels described in Schedule II hereto.
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Initial Vessels means the six (6) dry bulk carriers that are set out in Schedule III hereto.
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Initial Vessels means the Vessels set out in Attachment 3 hereto.
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Initial Vessels has the meaning ascribed to it in Clause 3.1.
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Initial Vessels means each of the CSCL Vessels, Hapag-Xxxxx Vessels and the Maersk Vessels, which are listed in Part 1 of Schedule 1 (Original Parties) and Initial Vessel means any of them.
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Initial Vessels means the following Vessels: Vessels flagged in Liberia:
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