Pool Earnings definition

Pool Earnings means any Earnings due to the Borrower which arise from, and are attributable to, the Vessel’s employment in the Tankers International Pool;
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Pool Earnings means all monies, whatsoever payable by the Pool Parties or either of them to the Owner under or pursuant to the Pool Documents or either of them and/or any other guarantee, security or other assurance given to the Owner at any time in respect of the Pool Parties’ obligations under or pursuant to the Pool Documents or either of them including (but without prejudice to the generality of the foregoing) all claims for damages in respect of any breach by the Pool Parties or either of them of the Pool Documents or either of them;
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Examples of Pool Earnings in a sentence

  • Each Periodical Performance Review shall be based on the Vessel’s performance data from the previous twelve (12) months and following such review, the Vessel’s Pool Earnings Points shall be revised to take into account the results of such review.

  • For the avoidance of doubt, the application of the results of such Periodical Performance Review under this sub-paragraph (b) will involve a retrospective Pool Earnings Points adjustment to the first of the above three quarter periods, and the Participant’s entitlement to distributions for the above periods following each Periodical Performance Review shall be adjusted accordingly.

  • For the avoidance of doubt, the application of the results of the Initial Performance Review under this sub-paragraph (b) will involve a retrospective Pool Earnings Points adjustment to the first (or in some cases, the first two) of the above three quarter periods, and the Participant’s entitlement to distributions for the above periods following the Initial Performance Review shall be adjusted accordingly.

  • For this purpose each Vessel shall have equal weighting and each Vessel’s share of the Net Pool Earnings (following any deductions or adjustments of any amounts under Clause 6.1(b)) shall be the “Vessel Earning Share”.