(1) Absent an agreement otherwise, the hire is to be paid in advance on a fortnightly basis.
(2) The obligation to pay the hire does not apply to any periods in which the ship is unavailable to the time charterer for the contractually agreed use due to deficiencies or other circumstances within the sphere of risks to be borne by the owner. If the ship cannot be used to the full extent contractually agreed, then a reasonably reduced hire will be payable.