Basic Period definition

Basic Period means the period beginning on the Vessel Delivery Date and ending at 11:59 P.M. (New York City time) on the day immediately preceding the 12 year anniversary of the Vessel Delivery Date.
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Basic Period means the period for which the Vessel is chartered as provided in Section 2(a) of the Charter, beginning on the Basic Period Commencement Date and ending at 11:59 P.M. (New York City time) on the eighteenth anniversary of the Basic Period Commencement Date.
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Basic Period means the basic effective term of the Agreement as set out in the Agreement header.
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Examples of Basic Period in a sentence

  • It is recognized and acknowledged that Basic Hire during the Basic Period and Renewal Period (if any) as set forth in Box 22, the EBO Prices set forth in Schedule 1 hereto, and the Stipulated Loss Values set forth in Schedule 3 hereto are based on certain pricing assumptions.

  • Upon the expiration of the Basic Period, or if applicable, the Renewal Period, the Charter Period shall be extended (a) for the duration of any Voyage in progress of the Vessel at such expiration and any period necessary for the unloading of cargo related to such Voyage, and (b) for any period necessary to make any repairs to the Vessel as may be required in order to put the Vessel in a condition necessary to comply with Clause 15, provided that neither extension shall exceed 90 days.

  • The Charterer shall pay to the Owner for the hire of the Vessel the Basic Hire payable during the Basic Period which is set forth in Box 22, as adjusted pursuant to the Agreement to Acquire and Charter.

  • The giving of such notice shall constitute the Charterer’s irrevocable election and obligation to purchase the Vessel and the Other Vessels at the end of the Basic Period or the Renewal Period, as applicable.

  • The Charterer may exercise its option by written notice to the Owner given not less 365 days prior to the end of the Basic Period or the Renewal Period, as applicable.

  • If the Charterer exercises its option hereunder, it shall pay to the Owner, on the last day of the Basic Period or the Renewal Period, as applicable, or if such date is not a Business Day on the next succeeding Business Day, (i) the purchase option price plus (ii) any unpaid Hire due or accrued on or prior to the date and not otherwise already paid.

  • The purchase option prices at the end of the Basic Period and at the end of the Renewal Period referred to in Clause 74(b) of the Charter are as set forth in Schedule 2 hereto.

  • Upon the terms and conditions set forth in this Charter, the Owner Trustee hereby lets and demises, and the Charterer hereby hires, the Vessel for the Interim Period and the Basic Period.

  • If and to the extent that the Indenture Trustee on the first day of the Basic Period shall not have received funds for the payment in full of the amounts then due on the Notes, the Charterer shall pay on such date all or such portion of the Interim Hire as shall remain unpaid.

  • The Charterer agrees to pay, to the extent not paid by the Owner Trustee pursuant to Section 3(b)(i) of the Participation Agreement, Interim Hire for the Interim Period in a single installment due on the Basic Period Commencement Date in an amount equal to the aggregate amount of interest accrued but unpaid to such date on the Notes.


More Definitions of Basic Period

Basic Period means weekdays (Monday – Friday) 08.00 – 16.00 (17.00 in Sweden) CET. For public holidays in Sweden and/or Norway, the base period may be reduced.
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Related to Basic Period

  • Transition Period means the period beginning with the Registration Date and ending as of the earlier of: (i) the date of the first annual meeting of stockholders of the Company at which directors are to be elected that occurs after the close of the third calendar year following the calendar year in which the Registration Date occurs; and (ii) the expiration of the “reliance period” under Treasury Regulation Section 1.162-27(f)(2).

  • Initial Termination Date has the meaning set forth in Section 8.2(a).

  • Elimination Period means the period of 6 months beginning on the date You become Disabled.

  • Period of Limited Activity means any period of time during which a person is confined in a Hospital or nursing facility or if not confined, unable to carry on the regular and usual activities of a healthy person of the same age and sex.

  • transitional period means the period of time beginning on the

  • Application Period means the months beginning with the month in which the application is considered to be filed, through and including the month in which an eligibility determination is made.

  • Extended benefit period means a period which: