Re-Charter definition

Re-Charter means the chartering-out of an LNG Asset, an Offshore Asset or a Crude Oil Asset pursuant to a Qualifying Contract in the event that its existing charter or contract of affreightment expires or is terminated early (including, without limitation, the chartering of any Replacement Suezmax Asset or Replacement Aframax Asset but only if the charter party for the Replacement Suezmax Asset or Replacement Aframax Asset, as applicable, is not the same charter party (or an Affiliate of such charter party) as for the replaced Suezmax Asset or Aframax Asset).

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Re-Charter means the chartering of an LNG Asset or a Crude Oil Asset pursuant to a time charter contract with a term of at least three (3) years in the event that its existing charter expires or is terminated early (including, without limitation, the chartering of any Replacement Suezmax Asset but only if the charter party for the Replacement Suezmax Asset is not the same charter party (or an Affiliate of such charter party) as for the replaced Suezmax Asset).

Re-Charter means the charter of a Tanker pursuant to a Qualifying Contract in the event that its existing charter expires or is terminated early.

Examples of Re-Charter in a sentence

The Offshore Partnership Group hereby grants (i) Teekay a right of first offer on any proposed Transfer or Re-Charter by any Offshore Partnership Group Member of any Crude Oil Assets owned or acquired by any Offshore Partnership Group Member and (ii) Teekay LNG General Partner a right of first offer on any proposed Transfer or Re-Charter by any Offshore Partnership Group Member of any LNG Assets owned or acquired by any Offshore Partnership Group Member.
The Teekay Entities hereby grant (i) Teekay LNG MLP a right of first offer on any proposed Transfer or, subject to Section 5.1, Re-Charter of any LNG Assets owned or acquired by any Teekay Entity and (ii) Teekay Offshore MLP a right of first offer on any proposed Transfer or, subject to Section 5.1, Re-Charter of any Offshore Assets owned or acquired by any Teekay Entity.
The Teekay Entities hereby grant the MLP a right of first offer on any proposed Transfer or Re-Charter of any LNG Assets owned or acquired by any Teekay Entity.
The Transferring Party then shall be obligated to negotiate in good faith for a ten (10) day period following the delivery by the Transferring Party of the Transfer Notice (the “First Offer Negotiation Period”) to reach an agreement for the Transfer or Re-Charter of such Sale Assets to the Potential Transferee or any of its Affiliates on the terms and conditions set forth in the Transfer Notice.
The Transferring Party then shall be obligated to negotiate in good faith for a 30-day period following the delivery by the Transferring Party of the Transfer Notice (the "First Offer Negotiation Period") to reach an agreement for the Transfer or Re-Charter of such Sale Assets to the Potential Transferee or any of its Affiliates.
The Capital Maritime Entities hereby grant the MLP a right of first offer on any proposed Transfer or Re-Charter of any Tanker Assets owned or acquired by any Capital Maritime Entity.
The Navios Maritime Entities hereby grant the MLP a right of first offer on any proposed Transfer or Re-Charter of any Panamax Carrier Asset or Capesize Carrier Asset owned or acquired by any Navios Maritime Entity.
The LNG Partnership Group hereby grants (i) Teekay a right of first offer on any proposed Transfer or Re-Charter by any LNG Partnership Group Member of any Crude Oil Assets owned or acquired by any LNG Partnership Group Member and (ii) Teekay Offshore MLP a right of first offer on any proposed Transfer or Re-Charter by any LNG Partnership Group Member of any Offshore Assets owned or acquired by any LNG Partnership Group Member.
The Chapter must agree to and abide by the terms and conditions of the Chapter Re-Charter Agreement.
The Transferring Party then shall be obligated to negotiate in good faith for a 30-day period following the delivery by the Transferring Party of the Transfer Notice (the "First Offer Negotiation Period") to reach an agreement for the Transfer or Re-Charter of such Sale Assets to the Potential Transferee or any of its Affiliates on the terms and conditions set forth in the Transfer Notice.

More Definitions of Re-Charter

Re-Charter means the charter of a Tanker pursuant to a Qualifying Contract in the event that its existing charter expires or is terminated early. “Replacement Small Tanker” means any Small Tanker that replaces any Small Tanker upon an Event of Loss.

Re-Charter means the charter of a Capesize Drybulk Carrier or a Panamax Drybulk Carrier pursuant to a Qualifying Contract in the event that its existing charter expires or is terminated early.