Common use of Mitigation and consultation Clause in Contracts

Mitigation and consultation. 22.4.1 If circumstances arise which would result in notification under clause 22.1 then, without limiting the rights of the Lessor under clause 22.3, the Lessor shall use its reasonable endeavours to take such reasonable steps as may be open to it to mitigate or remove those circumstances Provided that the Lessor shall be under no obligation to take any such steps which shall or might be considered likely in the Lessor’s opinion to: (a) have an adverse effect in the Lessor’s business operations or financial condition or those of any Lessor Group Member; (b) involve the Lessor or any Lessor Group Member in any activity which is unlawful or prohibited or any activity which is contrary to, or inconsistent with, any regulation; or (c) involve it in any expense (unless indemnified to its reasonable satisfaction) or tax disadvantage.

Appears in 5 contracts

Samples: Lease Agreement (Seaspan CORP), Lease Agreement (Seaspan CORP), Lease Agreement (Seaspan CORP)

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