Assignment of the Contract. Neither of the Parties hereto shall assign this Contract to a third party unless prior consent of the other Party is given in writing, such consent not to be unreasonably withheld. One, among others, conditions for consent is that the Assignee will maintain all guarantees received by FINC (including the Letter of Credit), or in case of renewal by the Assignee such guarantees will be renewed in a manner not decreasing the level of guarantee of FINC. The deed of assignment will be subject to the same legal formalities of this Contract. For financing purposes the Owner can assign some rights hereof (agreed with FINC but in any case excluding mortgage or any lien on the ship under progress) in order to obtain means for the payment of the third (10.2.c ) and fourth (10.2.d) instalment.
Appears in 10 contracts
Samples: Shipbuilding (Iii to I Maritime Partners Cayman I Lp), Shipbuilding (Iii to I Maritime Partners Cayman I Lp), Shipbuilding (Iii to I Maritime Partners Cayman I Lp)
