Long-term Charters Sample Clauses

Long-term Charters in the event that the Borrower has complied with clause 8.4.2 by 31 December 2011: (a) any Mortgaged Ship has not been delivered for service to, or accepted for service by, the relevant charterer under a Long-Term Charter, by 15 February 2011; or (b) any Long-term Charter is amended or varied without the prior written consent of the Bank, unless such amendment or variation concerns purely operational and/or technical matters and it has been notified in writing by the Borrower to the Bank forthwith after it has been made; or (c) any Long-term Charter is cancelled, repudiated or terminated for any reason whatsoever, other than by mere effluxion of time or the Total Loss of the relevant Ship; or”; and 3.1.14 by deleting clause 10.2 of the Principal Agreement in its entirety and by inserting in its place the following new clause 10.2: