Define: Charter Accounts

How is Charter Accounts defined in a legal contract?

• Charter Accounts means the interest-bearing USD current accounts related to a specific ship, paying interest at a rate agreed between the Account Bank and the Shareholder. These accounts include any sub-accounts and any other account recognized as a Charter Account by the Payment Agent for the agreements' purposes. Seen in 3 SEC filings.
• Charter Accounts means an account of the Charterer maintained with respect to the Charter Service Reserve Deposit and any charter hire paid under certain conditions. This account is with a specific bank, holds a certain status, and is subject to a certain agreement favoring the Security Agent. Seen in 3 SEC filings
• Charter Accounts means each of the eight bank accounts to be opened by each of the Owners with the Account Bank and designated with a specific name and includes any sub-accounts. Seen in 1 SEC filing
• Charter Accounts means each of the ten bank accounts opened by each of the Owners with the relevant Account Bank and designated with a specific name. These accounts include any additional accounts which may be opened by additional guarantors with the relevant Account Bank. Seen in 1 SEC filing

Please note that the specific names, account details, and Bank names have been omitted in the definitions to ensure relevance in a global context.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of charter accounts' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Charter Accounts means interest-bearing accounts, including sub-accounts, held in [currency], designated and agreed upon between [Account Bank] and [Shareholder].

Relevant Contract Types

• Banking Agreement Contracts
• Financial Service Agreements
• Business Partnership Agreements

Relevant Circumstances

• When engaging in financial transactions with a bank
• When establishing business partnerships involving shared accounts
• When organizing the financial structure of a corporation

Relevant Sectors

• Banking Sector
• Business Services Sector

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Genie Definition 2

• Charter Accounts means the agreed-upon bank accounts opened and maintained by [Owners] with the [Account Bank], identifiable through specific [account] designations.

Relevant Contract Types

• General Business Contracts
• Accounts Management Agreements

Relevant Circumstances

• When assigning financial responsibilities among different accounts
• When managing the finances of a business or an organization

Relevant Sectors

• Business Services Sector
• Financial Services Sector
• Real Estate Sector

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