Common use of Charters Clause in Contracts

Charters. provided it has first obtained the consent of the Agent or any other Creditors in accordance with the relevant Ship Security Documents, (i) deliver to the Agent, a certified copy of each time charter or other contract of employment of the Ship with a tenor (including any options to extend) exceeding six (6) months, forthwith after its execution, (ii) forthwith on the Agent's request execute (1) a specific assignment of any such time charter or other contract of employment in favour of the Mortgagees in a form acceptable to the Agent in its sole discretion and (2) any notice of assignment required in connection therewith in a form acceptable to the Agent in its sole discretion, and promptly procure the acknowledgement of any such notice of assignment by the relevant charterer in a form acceptable to the Agent in its sole discretion, and (iii) pay all legal and other costs incurred by any Creditor in connection with any such specific assignments, forthwith following the Agent's demand.

Charters. provided it has first obtained the consent of the Security Agent or any other Creditors in accordance with the relevant Ship Security DocumentsDocuments and/or clause 8.5, (i) deliver to the Agent, a certified copy of each time charter or other contract of employment of the its Ship with a tenor (including any options to extend) exceeding six (6) months, forthwith after its execution, (ii) forthwith on the Agent's ’s request execute (1) a specific assignment of any such time charter or other contract of employment in favour of the Mortgagees Security Agent in a form acceptable to the Agent in its sole discretion and (2) any notice of assignment required in connection therewith in a form acceptable to the Agent in its sole discretion, and promptly procure the acknowledgement of any such notice of assignment by the relevant charterer in a form acceptable to the Agent in its sole discretion, and (iii) pay all legal and other costs incurred by any Creditor in connection with any such specific assignments, forthwith following the Agent's ’s demand.

Charters. provided it has first obtained the consent of the Security Agent or any other Creditors in accordance with the relevant Ship Security DocumentsDocuments and/or clause 8.5, (i) deliver to the Agent, a certified copy of each time charter or other contract of employment of the its Ship with a tenor (including any options to extend) exceeding six twelve (612) months, forthwith after its execution, (ii) forthwith on the Agent's ’s request execute (1) a specific assignment of any such time charter or other contract of employment in favour of the Mortgagees Security Agent in a form acceptable to the Agent in its sole discretion and (2) any notice of assignment required in connection therewith in a form acceptable to the Agent in its sole discretion, and promptly procure the acknowledgement of any such notice of assignment by the relevant charterer in a form acceptable to the Agent in its sole discretion, and (iii) pay all legal and other costs incurred by any Creditor in connection with any such specific assignments, forthwith following the Agent's ’s demand.

Charters. provided it has first obtained the relevant consent of the Security Agent or any other Creditors in accordance with the relevant Ship Security Documents, (ia) deliver to the Agent, a certified copy of each time charter or other contract of employment of the its Ship with a tenor (including any options to extend) exceeding six twelve (612) months, forthwith after its execution, (iib) forthwith on the Agent's ’s request execute (1) a specific assignment Charter Assignment of any such time charter or other contract of employment in favour of the Mortgagees Security Agent in a form acceptable to the Agent in its sole discretion and (2) any notice of assignment required in connection therewith in a form acceptable to the Agent in its sole discretion, and promptly procure the acknowledgement of any such notice of assignment by the relevant charterer in a form acceptable to the Agent in its sole discretion, and (iiic) pay all legal and other costs incurred by any Creditor in connection with any such specific assignmentsCharter Assignments, forthwith following the Agent's ’s demand.;