Common use of Enforcement of Warranties Clause in Contracts

Enforcement of Warranties. Owner hereby appoints and constitutes ------------------------- MOSAT its agent and attorney-in-fact during the Charter Period to assert and enforce, from time to time, in its sole discretion, in the name and for the account of Owner and Charterer, as their interests may appear, but in all cases at no cost or expense to Owner, subject to the provisions of the applicable Supervisory Agreement, whatever claims and rights Owner may have as the owner of the Vessel Interest against any manufacturer or vendor of the Vessel or any Component of the Vessel; provided, however, that if this Charter Party shall have been -------- ------- declared in default pursuant to Article 22, such power of attorney shall, at the option of Owner, terminate and Owner may assert, at Charterer's expense, such claims and rights.

Enforcement of Warranties. Owner hereby appoints and constitutes ------------------------- MOSAT its agent and attorney-in-fact during the Charter Period to assert and enforce, from time to time, in its sole discretion, in the name and for the account of Owner and Charterer, as their interests may appear, but in all cases at no cost or expense to Owner, subject to the provisions of the applicable Supervisory Agreement, whatever claims and rights Owner may have as the owner of the Vessel Interest against any manufacturer or vendor of the Vessel or any Component of the Vessel; provided, however, that if this Charter Party shall -------- ------- have been -------- ------- declared in default pursuant to Article 22, such power of attorney shall, at the option of Owner, terminate and Owner may assert, at Charterer's expense, such claims and rights.