Time Charter Party definition
Examples of Time Charter Party in a sentence
Value of bunkers on delivery (assessed in accordance with the provisions of clause 15 of the Time Charter Party) shall contribute towards Working Capital.
Provisions and clauses of this Agreement and Time Charter Party which are either expressed to survive termination or from their nature or context it is contemplated that they are to survive termination, shall remain in full force and effect notwithstanding such termination.
The Pool Vessel shall remain in the Pool for a minimum period of six (6) twelve (12) months plus or minus thirty (30) days in the Company’s option from the date of delivery under the Time Charter Party subject only to the terms of this Clause.
The terms of this Agreement shall prevail if a conflict should arise in the interpretation of the terms of this Agreement and the terms of the Time Charter Party.
On redelivery of the Pool Vessel to the Pool Participant by the Company, the value of the bunkers remaining on board (priced on a “first in, first out” basis by the Company as evidenced by supporting invoices and bunker delivery receipts as provided in clause 15 of the Time Charter Party) shall be set-off against the Working Capital to be repaid by the Company to the Pool Participant.
The Pool Participant and the respective Pool Vessel shall at any and all times during the term of this Agreement comply with the conditions, terms and warranties expressed or implied in this Agreement and in the Time Charter Party, which shall be deemed to be an integral part of this Agreement.
The failure of any Party to enforce or to exercise, at any time or for any period of time any terms of or any right pursuant to this Agreement or the Time Charter Party does not constitute, and shall not be construed as, waiver of such term or right and in no way affects that Party’s right later to enforce or exercise it.