Common use of Conclusion of U Clause in Contracts

Conclusion of U. K. Arrangements. (a) The parties recognize that ------------------------------- it is the intention of the Owner Participant that, immediately following the Closing Date, the U.K. Financing will be concluded by the satisfaction of the conditions to the obligation of the U.K. Lessor to lease the Vessel to the Owner Trust under the Head Lease. The Owner Participant agrees that the U.K. Financing, if concluded, will be concluded on documents substantially in the form of the documents delivered to the parties hereto with such changes as shall not be materially adverse to any party hereto. (b) The conclusion of the U.K. Financing is not a condition to the issuance and sale of the Secured Note and the other transactions contemplated by this Agreement and if for any reason the U.K. Financing is not concluded, the parties agree, at the request and expense of the Owner Participant, to execute such documents and take such actions as may be necessary or desirable to reflect the abandonment of the U.K. Financing while maintaining in effect the transactions contemplated by this Agreement; provided, however that the -------- ------- execution of such documents and the taking of such actions shall not be adverse to the interests of any such party in any material respect or increase its liability under the Operative Documents.