Common use of Delivery and Redelivery Clause in Contracts

Delivery and Redelivery. The Lender shall transfer the Borrowed Shares to such VPS account as instructed by the Company on the date of this Agreement. Redelivery of Borrowed Shares to BW Group shall be in the form of new common shares to be issued by the Company in a number equal to the number of Borrowed Shares (the “New Shares”). The New Shares shall be subscribed for at par value, i.e. USD 0.01 per New Share. The subscription amount of USD 34,315.77 shall be deemed to be paidby set-off against the fee to be paid by the Company to BW Group as set out in Clause 4 below. The Company undertakes to redeliver the Borrowed Shares to the Lender as soon as practically possible and in no event later than 30 March 2023. BW Group hereby subscribes for any New Shares required to enable the Company to redeliver the Borrowed Shares in a timely manner without having to acquire shares in the market or reducing its ability to deliver shares under LTIP 2020, and BW Group agrees to take the New Shares subject to the memorandum of association and bye-laws of the Company and authorises the Company to enter its name and address in the register of members of the Company in respect of such New Shares.

Delivery and Redelivery. The Lender shall transfer the Borrowed Shares to such VPS account as instructed by the Company on the date of this Agreement. Redelivery of Borrowed Shares to BW Group shall be in the form of new common shares to be issued by the Company in a number equal to the number of Borrowed Shares (the “New Shares”). The New Shares shall be subscribed for at par value, i.e. USD 0.01 per New Share. The subscription amount of USD 34,315.77 shall be deemed to be paidby set-off against the fee to be paid by the Company to BW Group as set out in Clause 4 below. The Company undertakes to redeliver the Borrowed Shares to the Lender as soon as practically possible and in no event later than 30 March 2023September 2022. BW Group hereby subscribes for any New Shares required to enable the Company to redeliver the Borrowed Shares in a timely manner without having to acquire shares in the market or reducing its ability to deliver shares under LTIP 20202019, and BW Group agrees to take the New Shares subject to the memorandum of association and bye-laws of the Company and authorises the Company to enter its name and address in the register of members of the Company in respect of such New Shares.

Delivery and Redelivery. The Lender shall transfer the Borrowed Shares to such VPS account as instructed by the Company on the date of this Agreement. Redelivery of Borrowed Shares to BW Group shall be in the form of new common shares to be issued by the Company in a number equal to the number of Borrowed Shares (the “New Shares”). The New Shares shall be subscribed for at par value, i.e. USD 0.01 per New Share. The subscription amount of USD 34,315.77 shall be deemed to be paidby set-off against the fee to be paid by the Company to BW Group as set out in Clause 4 below. The Company undertakes to redeliver the Borrowed Shares to the Lender as soon as practically possible and in no event later than 30 March 31 December 2023. BW Group hereby subscribes for any New Shares required to enable the Company to redeliver the Borrowed Shares in a timely manner without having to acquire shares in the market or reducing its ability to deliver shares under LTIP 20202021, and BW Group agrees to take the New Shares subject to the memorandum of association and bye-laws of the Company and authorises the Company to enter its name and address in the register of members of the Company in respect of such New Shares.