Tag-along
Extension of rights enjoyed by controlling shareholders if they decide to sell their stake. In this case, the minority shareholders have the right to join the transaction and sell their minority stake in the company and sell their shares at the same price.
Take-or-Pay
Contractual obligation between a purchaser and a seller of product or services that requires the purchaser to pay a minimum amount for product or services, even if these have not been used or delivered.
TEU
Twenty equivalent unit, an international measure for the measurement of containers, equivalent to 20 feet.
Time charter
In this kind of agreement the charterer receives the vessel maintained and manned to operate for a pre-determined period. In case of stoppages due to technical reasons, any time loss is deducted from the lease expenses.
