LEASE AGREEMENT FOR A SHIP in Marathi

LEASE AGREEMENT FOR A SHIP

 

THIS Bareboat Lease Agreement made at____________.this....................   day of____________.20 ____________.between A B Co. Ltd., a company registered under the Companies Act, 1956 and having its registered office at____________.(hereinafter referred to as "the Lessor") of the ONE PART and X Y Co. Ltd., a company registered under the Companies Act, 1956 and having its registered office at ............. (hereinafter referred to as "the Lessee") of the OTHER PART.

 

WHEREAS the lessor has purchased the vessel hereinafter referred to as "the Vessel" hereinafter described in the Schedule and agreed to lease the same to the lessee upon the terms and conditions hereinafter appearing.

 

NOW THIS DEED WITNESSETH AS FOLLOWS

(1) In pursuance of the said agreement and in consideration of the rent hereby reserved and on the terms and conditions, covenants and agreements herein contained and on the part of the lessee to be observed and performed, the lessor hereby agrees to lease to the lessee and the lessee hereby agrees to take on lease, the vessel for a period of____________.commencing from____________.

(2) Lease rental.-The lease rent shall be paid in advance and the first of such rent as hereinbefore provided shall be paid on the 10^th ..........and the subsequent rent shall be paid on the 10th day of every succeeding month regularly.

(3) Delivery of vessel

 

(i)The vessel shall be delivered by the manufacturer, described in the Schedule hereinunder written, hereinafter referred to as the manufacturer, on or before____________.at the port.....................If the vessel cannot be delivered to the lessee by the above date and if the lessee agrees, the said date of delivery of the vessel can be extended, but if the lessee does not agree to the extension of date of delivery, this agreement shall terminate and neither the lessor nor the lessee shall be liable to the other for any loss arising from such termination.

 

(ii)The vessel will be inspected by the lessee and if found suitable, the lessee will issue a Certificate of Acceptance of delivery within____________.days of the delivery of the vessel by the manufacturer. The issue of Certificate of Acceptance of delivery by the lessee shall constitute full performance by the lessor of all its obligations as to the delivery of the vessel in a satisfactory condition and the lessee shall not be entitled to make any claim against the lessor on account of any defect found by it later on or any representation or warranties expressed or implied, with respect to the vessel.

 

(iii)The matters relating to cost of lubricating oil, water, remaining bunkers, unbroached provisions, paints, oils, ropes, and other consumable items on board the vessel shall be settled directly between the manufacturer and the lessee at the time of delivery of the vessel and the lessor shall not be responsible or liable for providing the same.

 

(4) Lessee's confirmations

(i)The lessee acknowledges, declares, agrees and confirms that it has negotiated with the manufacturer and selected the vessel for its own operation and the lessor shall not be responsible for any delay in delivery of the vessel by the manufacturer or for any defects or fitness of the vessel for any particular purpose.

(ii)jThe lessor hereby agrees to assign to the lessee the right to seek compensation for any damage found by the lessee after signing the Certificate of Acceptance of Delivery.

 

(5) Custody and use of vessel

(i)The lessee shall be entitled to use the vessel from the date it issues the Certificate of Acceptance of Delivery to the lessor and it shall be entitled to operate the vessel throughout the world in any lawful trade for which she is suitable, subject to the observance of restrictions imposed by the law of the country of the vessel's registration, insurance policies, cover notes, indemnity and any other society or association. The vessel shall not be sent to the territorial waters of the countries mentioned in the Schedule. No acids, explosives or cargoes injurious to the vessel shall be supplied nor shall any voyage be undertaken, nor goods or cargoes be loaded, that would involve risk of seizure, capture or penalty imposed by British or foreign rulers or governments.

(ii)The lessee or master of the vessel shall not have any right, power or authority to create, incur or impose any lien on the vessel, except for crew's wages and salvage. The lessee shall intimate the fact that the lessee or the master of the ship is not entitled to create, incur or impose any lien on the vessel, to all persons having business with the vessel or to any person furnishing repairs, supplies or other consumables or necessaries to the vessel. The lessee shall exhibit aboard the vessel in a conspicuous place a notice stating that the vessel Is the property of         and neither the nor the master of the vessel has any right, power or authority to create, incur or impose any lien whatsoever on the vessel.

(iii)If due to any reason, but not due to the lessor's fault, a lien is created or imposed upon the vessel during the term of the lease, the lessee shall got the lien removed at his expenses within months from the date of its creation or  imposition, failing which the lessor shall be entitled to terminate this agreement by service of a notice of .................... days to the lessee and thereupon the lessee shall be liable for the cost and expenses incurred in removal of the said lien, lessor's loss of profit consequent upon the earlier determination of the lease agreement and other consequential  damages.

(iv)If the vessel is sold by order of judicial or other authority, whilst under arrest, the lessee will be liable to pay to the lessor the stipulated loss value mentioned in the Schedule hereto

(v)If the vessel is seized or captured by any country due to the fault of the lessee, the lessor shall be  entitled to terminate thisreto. lease by a____________.days notice to the lessee.

(vi)The lessee shall not be entitled to sub-lease or bareboat charter the vessel without the prior consent of the lessor in writing.

(vii)The lessee shall indemnify and keep indemnified the lessor for any damage caused to the vessel or to a third party or against all losses, damages, costs, claims and demands, which May be made or filed against the lessor arising out of or in consequence of the operation or use of the vessel during the lease period.

 

(6) Maintenance of vessel by the losses

 

(1) The lessee shall keep the vessel In his possession and control during the term of the lease. The lessee shall at his own expense:

 

(i)         clean the boilers and/or opening up of pistons and/or overhauling of the engines and to      maintain the vessel in good and serviceable repair and condition (fair wear and tear       excepted);

(ii)        keep the vessel in the description described in the Schedule hereunder written and to use its best endeavours so, as to maintain the vessel in the said classification and to maintain the vessel in accordance with all laws and regulations to which the vessel may be subject;

(iii)       keep machinery survey certificate current at all times;

(iv)       observe and perform all the terms and conditions of the mortgage granted over the vessel, of all insurance effected on the vessel and of the laws and regulations of the country of the registration of the vessel.

(2)(i)    The lessee shall at its own expense victual, navigate, operate, supply full and repair the vessel in accordance with the laws and regulations. of the vessel's registration or any other country which the vessel may visit and the lessee will be liable for all charges and expenses of every kind and nature whatsoever incidental to use and operation of the vessel under t

(ii)       The lessee will ensure that the master, officers and the crew of the vessel are properly certified according to the rules and regulations of the vessel's registration. The lessee shall  notify to the lessor the description of the master and nationality of other crew members and any alteration thereof.

(iii)       The lessee shall dry-dock the vessel and clean and paint under water parts of the vessel  whenever necessary.