Lease conditions precedent Clause Samples

Lease conditions precedent duly executed by the Lessor evidencing the satisfaction or waiver on terms satisfactory to the Lessor of all corresponding conditions precedent required to be satisfied by the Lessee under the Lease in respect of the payment of the relevant Delivery Instalment and the delivery of the relevant Ship under the Lease. Lenders are advised not to employ Substitution Certificates or otherwise to assign or transfer interests in the Loan Agreement without further ensuring that the transaction complies with all applicable laws and regulations, including the Financial Services A▇▇ ▇▇▇▇ and regulations made thereunder and similar statutes which may be in force in other jurisdictions To: Calyon, as facility agent on its own behalf and on behalf of the Borrowers, the Security Trustee and the Lenders defined in the Loan Agreement referred to below. Attention: • This certificate (“Substitution Certificate”) relates to a loan agreement dated • December 2004 (the “Loan Agreement”) and made between (1) Al Marrouna Inc., Al Areesh Inc., and Al Daayen Inc. (the “Borrowers”), (2) The Export-Import Bank of Korea and the banks and financial institutions defined therein as Commercial Lenders (together the “Lenders”), (3) Calyon as Arranger (4) Calyon as Facility Agent and (5) Calyon as Security Trustee; for a loan of up to $468,108,023. Terms defined in the Loan Agreement shall, unless otherwise defined herein, have the same meanings herein as therein. In this Certificate: