Option Vessels definition

Option Vessels means each of the newbuilding vessels described in the Option Agreement.
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Option Vessels means each of the 298,000 deadweight tonnage newbuilding vessels to be constructed by Dalian Shipbuilding Industry Co. Ltd. with hull numbers T3000-35 and T3000-36.
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Option Vessels means each of the 298,000 dwt newbuilding vessels to be constructed by Dalian Shipbuilding Industry Co. Ltd., hull numbers T3000-35 and T3000-36, for delivery on or before June 30, 2010 and June 30, 2011 respectively.
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Examples of Option Vessels in a sentence

  • TORM A/S has not secured financing in connection with the Option Vessels.

  • The parties confirm that the vessel constructed and sold by the BUILDER pursuant to the Second Contract is not considered one of the Option Vessels.

  • TORM A/S plans to take delivery of the LR2 Product Tanker Newbuildings between the fourth quarter of 2017 and the second quarter of 2018, with the Option Vessels available for delivery between the third quarter of 2018 and the third quarter of 2019.

  • The parties confirm that the vessel constructed and sold by APSI pursuant to the Second Contract is not considered one of the FRR Vessels; however, each of the Option Vessels will be considered one of the FRR Vessels.

  • PHILIPS and INTERMAGNETICS shall appoint a Contract Manager in their respective organizations who shall be responsible for the organization and implementation of strategic consultation and review meetings and who shall be responsible for the implementation of all business and supply related issues, including delegation of work within each organization.

  • This Agreement shall be effective upon execution and shall continue in effect until the delivery of the Vessel and the Option Vessels, if any, and the expiration of any option periods under Company's agreement with the Builder.

  • Notwithstanding the preceding sentence, BUILDER shall be free to solicit offers from others for a contract or contracts to construct vessels using the space at Builder's SHIPYARD required to construct the second, third or fourth Option Vessels.

  • BUILDER grants BUYER a firm option with respect to the first of the Option Vessels for a fixed Contract Price of $487,000,000, provided BUYER notifies BUILDER in writing of the exercise thereof within 48 months of the date of signing of this Contract.

  • However, the parties hereto agree that if the Builder's rights under such lease(s) are lost or impaired for any reason other than compulsory acquisition of such property by Singapore governmental authorities, which loss or impairment prevents or interferes with Builder's performance under any contract contemplated by this Overall Agreement, including contracts for construction of the Option Vessels, then the Builder shall pay SFIC Fifteen Million United States Dollars (U.S.$15,000,000).

  • Upon the Owner’s exercise of an option, as aforesaid, this Agreement shall be deemed amended to require the Builder to construct and deliver to the Owner, in accordance with all terms and conditions of this Agreement, the Option Vessel(s) ordered pursuant to the option.


More Definitions of Option Vessels

Option Vessels have the meanings given to them in the Recitals.
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Option Vessels means, in respect of the First Option, the First Option Vessels and, in respect of the Second Option, the Second Option Vessels.
Sample 1

Related to Option Vessels

  • Option Shares shall have the meaning ascribed to such term in Section 2.2(a).

  • ISO means an employee incentive stock option described in Section 422(b) of the Code.

  • Optioned Shares means Shares subject to an Award granted pursuant to this Plan.

  • Option Share has the meaning ascribed to it in section "4.7" hereinbelow;

  • Option means a stock option granted pursuant to the Plan.

  • Option Date means, with respect to any Stock Option, the date on which the Stock Option is awarded under the Plan.

  • Share Option means a Nonqualified Share Option or an Incentive Share Option.

  • Option Period means the period during which an Option may be exercised.

  • Date of Option Grant means the effective date of grant of the Option as set forth in the Notice.

  • Option Grant Date means, as to any Stock Option, the latest of:

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • Covered Call Option means an exchange traded option entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities (excluding Futures Contracts) which are owned by the writer thereof and subject to appropriate restrictions.

  • Call Option Period has the meaning given to it in Condition 6.04 (Call Option);

  • Grant Date means the date on which the Committee adopts a resolution, or takes other appropriate action, expressly granting an Award to a Participant that specifies the key terms and conditions of the Award or, if a later date is set forth in such resolution, then such date as is set forth in such resolution.

  • Number of Option Shares means shares of Stock, as adjusted from time to time pursuant to Section 9.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Contract Award Date means the date of the Contract award notice, which may take the form of a purchase order, signed Contract or Notice of Award, issued by the Authority.

  • NSO means a stock option not described in sections 422 or 423 of the Code.

  • Option Stock shall have the meaning set forth in Section 2(a) hereof.

  • Option Units means the Common Units that the Partnership will agree to issue upon an exercise of the Over-Allotment Option.

  • Incentive Option means an option which satisfies the requirements of Code Section 422.

  • Stock Reload Option means any option granted under Section 6.3, below, as a result of the payment of the exercise price of a Stock Option and/or the withholding tax related thereto in the form of Stock owned by the Holder or the withholding of Stock by the Company.

  • Holding Period means, with respect to a Hold-the-Offering-Price Maturity, the period starting on the Sale Date and ending on the earlier of (i) the close of the fifth business day after the Sale Date ( ), or (ii) the date on which the Underwriter has sold at least 10% of such Hold-the-Offering-Price Maturity to the Public at prices that are no higher than the Initial Offering Price for such Hold-the-Offering-Price Maturity.

  • Share Option Plan means any equity incentive plan of the General Partner, the General Partner Entity, the Partnership and/or any Affiliate of the Partnership.

  • Call Option Date As defined in Section 10.01(a) hereof.

  • Option 3 [ ] A Participant satisfies the Plan's Early Retirement Age conditions by attaining age ________ (not less than 55) and completing ________ Years of Vesting Service.