No amendment to Shipbuilding Contracts. No Borrower will agree to any material amendment or supplement to, or waive or fail to enforce, the Shipbuilding Contract to which it is a party or any of its provisions (and for the purposes of this Clause 11.12 an amendment of a Shipbuilding Contract will always be material if alone or with any previous variations it increases the Contract Price thereunder by more than 5%).
Appears in 3 contracts
Samples: Amending and Restating Agreement (TBS International PLC), Amending and Restating Agreement (TBS International PLC), Loan Agreement (TBS International LTD)
No amendment to Shipbuilding Contracts. No Borrower Obligor will agree to any material amendment or supplement to, or waive or fail to enforce, the Shipbuilding Contract to which it is a party or any of its provisions (and for the purposes of this Clause 11.12 9.11 an amendment of a Shipbuilding Contract will always be material if alone or with any previous variations it increases the Contract Price thereunder by more than 5%).
Appears in 3 contracts
Samples: Guarantee Facility Agreement (TBS International PLC), Guarantee Facility Agreement (TBS International LTD), Guarantee Facility Agreement (TBS International LTD)
