Delivery of Vessel. If the Owner is required by the terms of the Shipbuilding Contract to accept delivery of the Vessel from the Builder, then the Owner will exercise all rights it has under the Drilling Charter in place at such time to require the Charterer to take delivery of the Vessel under such Drilling Charter.
Appears in 6 contracts
Samples: Agreement (Ocean Rig UDW Inc.), Agreement (DryShips Inc.), Agreement (DryShips Inc.)
Delivery of Vessel. If the Owner Borrower is required by the terms of the Shipbuilding Contract to accept delivery of the Vessel from the Builder, then the Owner Borrower will exercise all rights it has under the Drilling Charter in place at such time to require the Charterer to take delivery of the Vessel under such Drilling Charter.
Appears in 2 contracts
Samples: Facility Agreement (Ocean Rig UDW Inc.), Facility Agreement (DryShips Inc.)
