Common use of Certain Transfers; Termination Clause in Contracts

Certain Transfers; Termination. Except as expressly permitted ------------------------------ hereby or by the terms of any other Operative Document or required by the terms of the Head Lease, the Owner Trust will not transfer the Vessel Interest to any Person prior to the expiration or earlier termination of the Charter pursuant to its terms, other than a successor Owner Trust appointed in accordance with the provisions of Section 11 of the Trust Agreement, or terminate the Trust Agreement or distribute all or any part of the Trust Estate to any Person.

Appears in 6 contracts

Samples: Participation Agreement (Mobil Corp), Participation Agreement (Mobil Corp), Participation Agreement (Mobil Corp)

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Certain Transfers; Termination. Except as expressly permitted ------------------------------ hereby or by the terms of any other Operative Document or required by the terms of the Head LeaseDocument, the Owner Trust Trustee will not transfer any of its right, title or interest in and to any portion of the Vessel Interest to any Person without the express prior written consent of the Charterer prior to the expiration or earlier termination of the Charter pursuant to its terms, other than to a successor Owner Trust Trustee appointed in accordance with the provisions of Section 11 10 of the Trust Agreement, or terminate the Trust Agreement or distribute all or any part of the Trust Estate to any Person.

Appears in 1 contract

Samples: Participation Agreement (Mobil Corp)

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