Obligation Date definition
Examples of Obligation Date in a sentence
If the Buyer nominates a substitute vessel for a Short Shipped Quantity, the Loading Obligation Date of the Short Shipped Quantity will be the date agreed by the parties to the Contract or, failing specific arrangement, at 8:00am on the 16th day after the date of the substitution.
If, however, the Seller does not reject the substitution, the substitution shall be allowed but Seller has the right to consider it as a new vessel nomination and start counting a new Loading Obligation Date.
The Seller shall not be obliged to commence loading before the Loading Obligation Date.
However, if vessel gave “NOR” in time and if not sufficient goods are available to start loading on the Loading Obligation Date or when free berth becomes available, whichever is later, or if continuous loading of vessel has to be interrupted due to lack of cargo, Seller shall pay the amount named as detention at the rate specified in the vessel nomination during periods when loading is delayed.
If Grantee is not able to obligate funds by the Grant Obligation Date, the IEDC may reallocate Grant funds.
The Loading Obligation Date shall be at 8:00am on the 16th day after the vessel nomination date or the first day of the Delivery Period, whichever is later, even if loading actually commences earlier.
Laytime not to commence prior to Loading Obligation Date as set out in clause 8.
The Loading Obligation Date shall be at 8:00am on the 11th day after the vessel nomination date or the first day of the Delivery Period, whichever is later, even if loading actually commences earlier.
Should the Employee's employment with the Company terminate for any reason prior to the Obligation Date of any Performance Restricted Stock that is the subject of this Agreement, such Performance Restricted Stock shall not be issued and all rights hereunder with respect to such Performance Restricted Stock shall be forfeited.
The date on which the Company becomes obligated to issue shares of Performance Restricted Stock with respect to any grant hereunder pursuant to the terms of this Section 3 is hereinafter referred to as the "Obligation Date" with respect to such Performance Restricted Stock.