Original Time-Charter Owner and Original Bareboat Owner Individual Termination. (a) In the event that an Original Bareboat Owner and/or an Original Time-Charter Owner shall not have received their charter hire (as adjusted by virtue of Clause 7 (Standstill of Charterparty Owners and Bareboat Owners)), and shall have given notice in writing, which notwithstanding Clause 30.2 (Addresses) of this Agreement shall be immediately effective upon delivery, of the fact that such charter hire has not been received to the Company and/or Torm Singapore (as applicable) and copied to the Co-ordinator and such amounts remain unpaid and outstanding after the Reasonable Notice Period, and such amounts are not subject to any dispute as to the existence, validity or quantum of such claim, such Original Bareboat Owner and/or Original Time-Charter Owner shall be entitled to deliver a Notice to Terminate to the Company and the Co-ordinator which shall be effective upon the expiry of the Cure Period to terminate such Original Time-Charter Owners’ and/or Original Bareboat Owners’ individual rights and obligations under this Agreement.
Appears in 4 contracts
Samples: Restructuring Agreement (HSBC Holdings PLC), Restructuring Agreement (Danske Bank a/S), Restructuring Agreement (Skandinaviska Enskilda Banken AB (Publ))
