Sustainability Linked Charter Mechanism definition

Sustainability Linked Charter Mechanism means, in the sole opinion of the Lead Sustainability Coordinator, acting reasonably, a qualifying contractual provision of a Qualifying Charter Contract providing for the relevant charter rate to be increased and/or reduced, by an amount which is not less than 0.5% of the relevant initial charter rate, and where any such increase and reduction in the charter rate is subject to and dependent on the alignment of the relevant vessel’s carbon intensity, measured by that vessel’s AER, EEOI, or some other broadly accepted emissions metric for which the International Maritime Organization produces a related trajectory, with such trajectory.
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Examples of Sustainability Linked Charter Mechanism in a sentence

  • An appropriate external reviewer will then verify the Borrower’s calculation and whether the Sustainability Linked Charter Mechanism is satisfied.

  • The details of the metrics and trajectory used in the Qualifying Charter Contracts are provided by the Borrower to the Lead Sustainability Coordinator, who will provide its opinion on the appropriateness of the metrics and trajectory used in the Sustainability Linked Charter Mechanism.

Related to Sustainability Linked Charter Mechanism

  • Sustainability Structuring Agent means X.X. Xxxxxx Securities LLC, in its capacity as sustainability structuring agent hereunder.

  • Sustainability means the use, development, and protection of resources at a rate and in a manner that enables people to meet their current needs while allowing future generations to meet their own needs; “sustainability” requires simultaneously meeting environmental, economic and community needs.

  • e-Procurement means the use of information and communication technology (especially the internet) by the Procuring Entity in conducting its procurement processes with bidders for the acquisition of goods (supplies), works and services with the aim of open, non discriminatory and efficient procurement through transparent procedures;

  • Sustainability Coordinator means BofA Securities, Inc., in its capacity as the sustainability coordinator.

  • CAISO-Approved Meter means a CAISO approved revenue quality meter or meters, CAISO approved data processing gateway or remote intelligence gateway, telemetering equipment and data acquisition services sufficient for monitoring, recording and reporting, in real time, all electric energy produced by the Generating Facility less Station Use.

  • Procurement Plan means the Recipient’s procurement plan for the Project, dated April 2, 2010, and referred to in paragraph 1.16 of the Procurement Guidelines and paragraph 1.24 of the Consultant Guidelines, as the same shall be updated from time to time in accordance with the provisions of said paragraphs.

  • Consensus Policies are those policies established (1) pursuant to the procedure set forth in ICANN’s Bylaws and due process, and (2) covering those topics listed in Section 1.2 of this Specification. The Consensus Policy development process and procedure set forth in ICANN’s Bylaws may be revised from time to time in accordance with the process set forth therein.

  • Internal combustion engine or ‘engine’ means an energy converter, other than a gas turbine, designed to transform chemical energy (input) into mechanical energy (output) with an internal combustion process; it includes, where they have been installed, the emission control system and the communication interface (hardware and messages) between the engine's electronic control unit(s) and any other powertrain or non-road mobile machinery control unit necessary to comply with Chapters II and III;

  • Level V Pricing applies on any day if no other Pricing Level applies on such day.