Trade Class definition
Examples of Trade Class in a sentence
When a vessel is tied up away from home port watches may be broken at the discretion of the Master on Foreign Going and Home Trade Class I and voyages.
Employees employed on vessels operating in the Home Trade Class and Home Trade Class including the Queen Charlotte Islands, will be granted the three (3) day period, consisting of December and as leave in the home port.
When a vessel is tied up away from home port watches may be broken at the discretion of the Master on Foreign Going and Home Trade Class I and II voyages.
In addition, the applicable Minimum Royalty due hereunder shall not be reduced as a result of the forfeiture of Licensee's rights to a particular Trade Class.
In the event Licensee fails to generate and maintain such one-third (1/3) Minimum Royalty in any particular Trade Class, Licensee's License to such particular Trade Class shall, at Cumberland's sole option, terminate, and such Trade Class will no longer be included as part of the License hereunder.
Each Agreement Year after the First Agreement Year, Licensee must sell a sufficient quantity of Licensed Product in each Trade Class to generate one third (1/3) of the applicable Minimum Royalty in each Trade Class.
Such written report shall include a computation of the Royalties due based on such Net Sales calculated separately for each Trade Class and shall specifically identify each deduction from total gross sales used in arriving at Net Sales.
In such event, Licensee shall have no further rights to sell the Licensed Product to such Trade Class, unless otherwise agreed by Cumberland in writing, and Cumberland shall be permitted to manufacture, market, sell and otherwise distribute the Licensed Product in that Trade Class in the Licensed Territory or grant licenses to one or more third parties with respect to the same.
Officers employed on vessels operating in the Home Trade Class and Home Trade Class Minor waters, and including the Queen Charlotte Islands, will be granted the three (3) day period, consisting of December and as leave in the home port.
When a vessel is tied up away from home dock, watches may be broken at the discretion of the Master on Foreign Going and Home Trade Class I and II voyages.