Common use of Financial Covenants to Other Lenders Clause in Contracts

Financial Covenants to Other Lenders. If, at any time before the Actual Delivery Date or during the Charterhire Period, any covenant (a "New Covenant") regarding any aspect of the financial condition of the Guarantor and/or the Group has been given to any other lender or creditor in connection with Financial Indebtedness borrowed by, guaranteed by, or secured by security provided by the Guarantor, then the Charterers shall notify the Owners in writing within ten (10) Banking Days after the giving of the New Covenant, and:- (b) if the New Covenant is of the same nature as, but imposes a more stringent standard than, any of the covenants set out in Clause 51.2 (Financial Covenants) or deemed incorporated as part of this Clause 51 (the "Existing Covenant"), then such Existing Covenant shall be replaced by the New Covenant which shall be deemed incorporated as part of this Clause 51. (c) if the New Covenant is of a different nature to the Existing Covenants, then the Additional Covenant shall be deemed incorporated as part of and as an additional financial covenant in this Clause 51.

Financial Covenants to Other Lenders. If, at any time before the Actual Delivery Date or during the Charterhire Period, any covenant (a "New Covenant") regarding any aspect of the financial condition of the Guarantor and/or the Group has been given to any other lender or creditor in connection with Financial Indebtedness borrowed by, guaranteed by, or secured by security provided by the Guarantor, then the Charterers shall notify the Owners in writing within ten (10) Banking Days after the giving of the New Covenant, and:- and:- (a) (b) if the New Covenant is of the same nature as, but imposes a more stringent standard than, any of the covenants set out in Clause 51.2 (Financial Covenants) or deemed incorporated as part of this Clause 51 (the "Existing Covenant"), then such Existing Covenant shall be replaced by the New Covenant which shall be deemed incorporated as part of this Clause 51. (c) if the New Covenant is of a different nature to the Existing Covenants, then the Additional Covenant shall be deemed incorporated as part of and as an additional financial covenant in this Clause 51.

Financial Covenants to Other Lenders. If, at any time before the Actual Delivery Date or during the Charterhire Period, any covenant (a "New Covenant") regarding any aspect of the financial condition of the Guarantor and/or the Group has been given to any other lender or creditor in connection with Financial Indebtedness borrowed by, guaranteed by, or secured by security provided by the Guarantor, then the Charterers shall notify the Owners in writing within ten (10I 0) Banking Days after the giving of the New Covenant, and:- (b) if the New Covenant is of the same nature as, but imposes a more stringent standard than, any of the covenants set out in Clause 51.2 (Financial Covenants) or deemed incorporated as part of this Clause 51 (the "Existing Covenant"), then such Existing Covenant shall be replaced by the New Covenant which shall be deemed incorporated as part of this Clause 51. (c) if the New Covenant is of a different nature to the Existing Covenants, then the Additional Covenant shall be deemed incorporated as part of and as an additional financial covenant in this Clause 51.