Common use of Preservation of Owner's rights Clause in Contracts

Preservation of Owner's rights. If the circumstances in which the Mortgagee becomes entitled under clauses 16.2 or 16.3 to determine the Charter shall constitute or include grounds on which the Owner was entitled to determine the same, any determination by the Mortgagee shall (as between the Owner and the Charterer) operate as an acceptance by the Owner of the Charterer's repudiation of the Charter and the Owner's right to recover damages in respect of such repudiation shall be fully preserved.

Preservation of Owner's rights. If the circumstances in which the Mortgagee becomes entitled under clauses 16.2 or 16.3 clause 16.1 to determine the Charter shall constitute or include grounds on which the Owner was entitled to determine the same, any determination by the Mortgagee shall (as between the Owner and the Charterer) operate as an acceptance by the Owner of the Charterer's repudiation of the Charter and the Owner's right to recover damages in respect of such repudiation shall be fully preserved.

Preservation of Owner's rights. If the circumstances in which the Mortgagee becomes entitled under clauses 16.2 or 16.3 to determine the Charter shall constitute or include grounds on which the Owner was entitled to determine the same, any determination by the Mortgagee shall (as shal;.(as between the Owner and the Charterer) operate as an acceptance by the Owner of the Charterer's repudiation of the Charter and the Owner's right to recover damages in respect of such repudiation shall be fully preserved.

Preservation of Owner's rights. If the circumstances in which the Mortgagee becomes entitled under clauses 16.2 or 16.3 clause 18.1 to determine the Charter shall constitute or include grounds on which the Owner was entitled to determine the same, any determination by the Mortgagee shall (as between the Owner and the Charterer) operate as an acceptance by the Owner of the Charterer's repudiation of the Charter and the Owner's right to recover damages in respect of such repudiation shall be fully preserved.