No other liabilities or obligations to be incurred. Neither Borrower will incur any liability or obligation except liabilities and obligations under the Shipbuilding Contract and the Finance Documents to which it is a party and liabilities or obligations reasonably incurred in the ordinary course of its business of operating and chartering its Ship and all other matters reasonably incidental thereto.
No other liabilities or obligations to be incurred. No Borrower will incur any liability or obligation except liabilities and obligations under the Shipbuilding Contract or the MOA (as the case may be) to which it is a party, the Finance Documents to which it is a party, or obligations reasonably incurred in the ordinary course of operating and chartering, repair and maintenance of the Ship owned by it.
No other liabilities or obligations to be incurred. No Borrower will enter into any other investments, any sale or leaseback agreements, any off-balance sheet transaction or incur any other liability or obligation (including, without limitation, any Financial Indebtedness or any obligations under a guarantee) except:
(a) liabilities and obligations under the Finance Documents and the Underlying Documents to which it is or, as the case may be, will be a party; and
(b) liabilities or obligations reasonably incurred in the normal course of its business of trading, operating and chartering, maintaining and repairing the Ship owned by it.
No other liabilities or obligations to be incurred. The Borrower will not, and will procure that none of the Owners will, incur any liability or obligation except liabilities and obligations:
(a) under the Finance Documents and the Shipbuilding Contract to which each is a party;
(b) under the Master Agreement;
(c) incurred, in the case of each Owner, in the normal course of its business of operating its Ship; and
(d) incurred, in the case of the Borrower, in the normal course of its business of acquiring and financing vessels through its wholly-owned subsidiaries.
No other liabilities or obligations to be incurred. The Borrower will not incur any liability or obligation except liabilities and obligations under the Finance Documents and liabilities or obligations reasonably incurred in the ordinary course of its business of acquiring, operating and financing vessels, acquiring shares in vessel owning companies and financing such acquisitions and all other matters reasonably incidental thereto (which shall include, without limitation, but subject to Clause 12.8, any Financial Indebtedness which may be incurred by the Borrower in the ordinary course of its business).
No other liabilities or obligations to be incurred. The Charterers shall not incur any liability or obligation except:- (a) liabilities and obligations under the Transaction Documents to which it is a party; (b) liabilities or obligations reasonably incurred in the ordinary course of operating and chartering the Vessel; and (c) any indebtedness subordinated in accordance with Clause 47.15 (Subordination).
No other liabilities or obligations to be incurred. The Borrower will not incur any liability or obligation except:
(a) liabilities and obligations under the Finance Documents to which it is a party; and
(b) liabilities or obligations reasonably incurred in the ordinary course of owning, operating and chartering the Ship.
No other liabilities or obligations to be incurred. No Borrower will incur any Financial Indebtedness except that incurred under the Finance Documents and that reasonably incurred in the ordinary course of operating and chartering its Ship.
No other liabilities or obligations to be incurred. No Borrower will incur any Financial Indebtedness, liability or obligation (including, without limitation, to the Corporate Guarantor or any other member of the Group) except:
(a) liabilities and obligations under the Finance Documents to which it is a party;
(b) liabilities or obligations reasonably incurred in the ordinary course of owning, operating and chartering the Ship; and
(c) in respect of the Designated Transactions.
No other liabilities or obligations to be incurred. The Borrower will not, and shall procure that no Owner will, incur any liability or obligation (including, without limitation, any Financial Indebtedness or any obligations under a guarantee) except:
(a) liabilities and obligations under the Finance Documents and the Underlying Documents to which it is or, as the case may be, will be a party;
(b) in the case of each Owner, liabilities or obligations reasonably incurred in the normal course of its business of trading, operating and chartering, maintaining and repairing the Ship owned by it (including, without limitation, any Financial Indebtedness owing to the Borrower); and
(c) in the case of the Borrower, liabilities or obligations reasonably incurred in the normal course of its business of acquiring, operating and financing or refinancing vessels (and issuing relevant guarantees), acquiring shares in vessel owning companies (or their holding companies) and financing from any type of lender of such acquisitions and all other matters incidental thereto (including, without limitation, any Financial Indebtedness owing to the shareholders of the Borrower, subject to the Borrower ensuring on or prior to the Drawdown Date, that the rights of each creditor thereunder are fully subordinated in writing pursuant to a Subordination Agreement).
