Redelivery Condition. On the last day of the Charter -------------------------------- Term, unless (i) an Event of Loss has occurred, or (ii) use of the Vessel has been requisitioned as described in Section 13 hereof and such requisition is continuing or (iii) the Charterer has exercised any purchase option granted herein or (iv) the Charterer has terminated the Charter in accordance with the provisions of Section 12 and the Shipowner has elected to retain the Vessel, at the Charterer's cost and expense, and upon not fewer than 180 days' prior written notice to the Shipowner, the Charterer shall be deemed to have redelivered the Vessel or caused the Vessel to be redelivered to the Shipowner by making the Vessel available to the Shipowner at a U.S. port designated by the Shipowner; provided that such port shall be on the coast of the United States -------- designated by the Charterer and shall be a safe port, which is a port that is physically able to accommodate the Vessel and that is safe for the Vessel to reach, remain at and leave. Thereafter, the Charterer shall have no further liability or obligation with respect to the Vessel, and the Shipowner shall be responsible for all Vessel-related Claims arising after the redelivery of the Vessel. The Charterer agrees that at the time of such redelivery, the Vessel will be in the good order, condition and repair required by all of the terms of Section 6(a) hereof, ordinary wear and tear excepted, and no additional repair to the Vessel shall be required to permit the Vessel to be fully operational and fit for use as a product tanker in U.S. coastwise trade; provided, however, that -------- ------- the Charterer shall not be required to redeliver the Vessel fully operational and fit for use as a product tanker in U.S. coastwise trade if this Charter is terminated for economic obsolescence in accordance with the terms of Section 12(a) hereof as a result of a change in law or a Governmental Rule that makes the Vessel ineligible for U.S. coastwise trade ("Redelivery Condition"). Notwithstanding anything herein to the contrary, in the event this Charter is terminated by reason of economic obsolescence in accordance with the terms of Section 12(a) hereof, the Charterer shall not be obligated to make any repair, change or Modification if such repair, change or Modification is a basis for the Charterer's decision to terminate this Charter in accordance with the terms of such Section 12(a). The Charterer will redeliver the Vessel free and clear of all Liens except Permitted Liens described in clause (iii) of the definition thereof. Upon the redelivery of the Vessel by the Charterer, the Charterer will not represent or warrant that the Vessel is free and clear of Liens of which it is not aware; provided, that the foregoing shall not release the Charterer of -------- any liability in respect of such Liens to the extent that the Charterer is required to discharge such Liens under the Operative Documents. In no event will the Shipowner fail to take control of the Vessel more than thirty (30) days after it is made available to the Shipowner by the Charterer.
Appears in 1 contract
Samples: Demise Charter Party (Mobil Corp)
Redelivery Condition. On the last day of the Charter -------------------------------- Term, unless (i) an Event of Loss has occurred, or (ii) use of the Vessel has been requisitioned as described in Section 13 hereof and such requisition is continuing or (iii) the Charterer has exercised any purchase option granted herein or (iv) the Charterer has terminated the Charter in accordance with the provisions of Section 12 and the Shipowner has elected to retain the Vessel, at the Charterer's cost and expense, and upon not fewer than 180 days' prior written notice to the Shipowner, the Charterer shall be deemed to have redelivered the Vessel or caused the Vessel to be redelivered to the Shipowner by making the Vessel available to the Shipowner at a U.S. port designated by the Shipowner; provided that such port shall be on the coast of the United States -------- designated by the Charterer and shall be a safe port, which is a port that is physically able to accommodate the Vessel and that is safe for the Vessel to reach, remain at and leave. Thereafter, the Charterer shall have no further liability or obligation with respect to the Vessel, and the Shipowner shall be responsible for all Vessel-related Claims arising after the redelivery of the Vessel. The Charterer agrees that at the time of such redelivery, the Vessel shall be charter free and free and clear of all liens, security interests, charges and encumbrances (except any Owner Encumbrances and Permitted Encumbrances, it being understood that the Charterer will promptly and diligently cause any such Permitted Encumbrances to be discharged and, at the Owner Trustee’s request, the Charterer shall bond or provide such other form of security for payment and discharge of such Encumbrances as the Owner Trustee may reasonably request), shall include all Improvements made hereunder, except those removed by the Charterer to the extent permitted hereby, and shall have the highest classification and rating of the Regulatory Agency for vessels of the same size, age and type, with no outstanding requirements or recommendations of the Regulatory Agency unfulfilled, and all required national and international trading certificates, including, but not limited to, Marine Inspection Certificates of the Coast Guard, Public Health Commission and Federal Communication Commission, shall be clean and valid on the date of redelivery and for six (6) months thereafter. The Charterer shall notify the Regulatory Agency of any matters coming to its knowledge after the redelivery survey and prior to redelivery which upon being reported to the Regulatory Agency would lead to the withdrawal of the Vessel’s class or to the imposition of a recommendation relating to her class. The Vessel shall be returned within 4 years of the last special survey for the Classification Society or the Charterer shall pay the expenses of performing a current special survey. In addition to the foregoing, (i) at the time of redelivery the Vessel (x) shall be ready to sail and in the same good order, order and condition and repair as required by Section 5, ordinary wear and tear consistent with the age of the Vessel at the time of redelivery excepted, and (y) shall comply with all applicable requirements of the Regulatory Agency necessary for the Vessel’s certification at the time of redelivery and (ii) on or before redelivery of the Vessel the Charterer will, at its expense, remove any stack insignia or stack colors of the Charterer and make all corrections and repairs necessary to cause the Vessel to comply with all of the terms of this Section 6(a2(e) hereofand of Section 5. The Charterer shall, ordinary wear and tear exceptedat all reasonable times, and no additional repair permit access to the Vessel shall be required to permit the Owner Trustee and the Owner Participant and to Persons designated by the Owner Trustee and the Owner Participant in connection with the verification of the conditions of redelivery of the Vessel to be fully operational set forth in this Section 2(e), and fit for use as a product tanker in U.S. coastwise trade; shall permit visual inspection of the Vessel by such Persons, provided, however, that -------- ------- (i) the Owner Trustee and the Owner Participant shall provide the Charterer with at least ten Business Days’ prior notice of its intention to exercise its rights hereunder, (ii) the exercise of such rights shall not be required to redeliver the Vessel fully operational and fit for use as a product tanker in U.S. coastwise trade if this Charter is terminated for economic obsolescence in accordance unreasonably interfere with the terms of Section 12(a) hereof as a result of a change in law or a Governmental Rule that makes the Vessel ineligible for U.S. coastwise trade ("Redelivery Condition"). Notwithstanding anything herein to the contrary, in the event this Charter is terminated by reason of economic obsolescence in accordance with the terms of Section 12(a) hereof, the Charterer shall not be obligated to make any repair, change or Modification if such repair, change or Modification is a basis for the Charterer's decision to terminate this Charter in accordance with the terms of such Section 12(a). The Charterer will redeliver the Vessel free use and clear of all Liens except Permitted Liens described in clause (iii) of the definition thereof. Upon the redelivery operation of the Vessel by the SEA-LAND ENTERPRISE Charterer and (iii) the Owner Trustee and the Owner Participant shall bear their own respective out-of-pocket expenses in connection with such access and inspection. The Vessel shall be jointly surveyed by the Charterer and the Owner Trustee not more than 90 days before redelivery under this Charter to determine the condition of the Vessel. The Charterer shall give the Owner Trustee at least 30 days prior notice of the date, time and place for such survey. Such survey shall not interfere with the Vessel’s scheduled operations. At such redelivery survey, surveyors representing both the Charterer and the Owner Trustee, or a surveyor satisfactory to both sides, shall be present and shall determine and state the agreed repairs or work necessary to place the Vessel on the date of redelivery in the condition required by this Section 2(e). The Charterer, at its expense, shall make such repairs or perform such work. The Charterer and the Owner Trustee shall bear the costs of their respective surveyors. If (i) the Vessel has not been drydocked within twelve months prior to redelivery or (ii) the Vessel has been drydocked within such period but subsequent to such drydocking an incident shall have occurred to the Vessel which in the opinion of the Classification Society is likely to have damaged the Vessel so as to affect the classification thereof, then in connection with the redelivery of the Vessel, the Charterer will not represent shall, at the request of the Owner Trustee given at least thirty days prior to the redelivery date, place the Vessel in drydock for inspection by the Classification Society of the bottom and other underwater parts of the Vessel. If the rudder, propellers, bottom or warrant that other underwater parts of the Vessel are found to be broken, damaged or defective, so as to affect the Vessel’s clean certificate of class, such defects shall be made good at the Charterer’s expense. While the Vessel is free in drydock, and clear if requested by the Owner Trustee or the representative of Liens of which it is not aware; providedthe Classification Society, that the foregoing shall not release the Charterer shall arrange to have the tail-end shaft drawn. If the same shall be condemned or found defective so as to affect the Vessel’s clean certificate of -------- any liability in respect of such Liens class, it shall be renewed or made good at the Charterer’s expense to the extent that Classification Society’s satisfaction without qualification. The expenses of drawing and replacing the tail-end shaft shall be borne by the Owner Trustee unless the Classification Society requires the tail-end shaft to be drawn (whether damaged or not), renewed or made good, in which event the Charterer is required to discharge such Liens under shall pay these expenses. The expenses in connection with putting the Operative Documents. In no event will Vessel in and taking her out of drydocking, including drydocking dues and the Shipowner fail to take control Classification Society’s fees, shall be paid by the Owner Trustee unless the rudder, propeller, bottom, other underwater parts of the Vessel more than thirty (30) days after it is made available or the tail-end shaft shall be found broken, damaged or defective so as to affect the Shipowner Vessel’s clean certificate of class in which case the Charterer shall pay the aforesaid expenses, dues and fees. During such inspections by the ChartererClassification Society, the Owner Trustee’s representative shall have the right to be present in the drydock, but without interfering with the Classification Society’s decisions.
Appears in 1 contract
Samples: Bareboat Charter Party (Horizon Lines Ventures, LLC)
Redelivery Condition. On the last day of the Charter -------------------------------- Term, unless (i) an Event of Loss has occurred, or (ii) use of the Vessel has been requisitioned as described in Section 13 hereof and such requisition is continuing or (iii) the Charterer has exercised any purchase option granted herein or (iv) the Charterer has terminated the Charter in accordance with the provisions of Section 12 and the Shipowner has elected to retain the Vessel, at the Charterer's cost and expense, and upon not fewer than 180 days' prior written notice to the Shipowner, the Charterer shall be deemed to have redelivered the Vessel or caused the Vessel to be redelivered to the Shipowner by making the Vessel available to the Shipowner at a U.S. port designated by the Shipowner; provided that such port shall be on the coast of the United States -------- designated by the Charterer and shall be a safe port, which is a port that is physically able to accommodate the Vessel and that is safe for the Vessel to reach, remain at and leave. Thereafter, the Charterer shall have no further liability or obligation with respect to the Vessel, and the Shipowner shall be responsible for all Vessel-related Claims arising after the redelivery of the Vessel. The Charterer agrees that at the time of such redelivery, the Vessel shall be charter free and free and clear of all liens, security interests, charges and encumbrances (except any Owner Encumbrances and Permitted Encumbrances, it being understood that the Charterer will promptly and diligently cause any such Permitted Encumbrances to be discharged and, at the Owner Trustee’s request, the Charterer shall bond or provide such other form of security for payment and discharge of such Encumbrances as the Owner Trustee may reasonably request), shall include all Improvements made hereunder, except those removed by the Charterer to the extent permitted hereby, and shall have the highest classification and rating of the Regulatory Agency for vessels of the same size, age and type, with no outstanding requirements or recommendations of the Regulatory Agency unfulfilled, and all required national and international trading certificates, including, but not limited to, Marine Inspection Certificates of the Coast Guard, Public Health Commission and Federal Communication Commission, shall be clean and valid on the date of redelivery and for six (6) months thereafter. The Charterer shall notify the Regulatory Agency of any matters coming to its knowledge after the redelivery survey and prior to redelivery which upon being reported to the Regulatory Agency would lead to the withdrawal of the Vessel’s class or to the imposition of a recommendation relating to her class. The Vessel shall be returned within 4 years of the last special survey for the Classification Society or the Charterer shall pay the expenses of performing a current special survey. In addition to the foregoing, (i) at the time of redelivery the Vessel (x) shall be ready to sail and in the same good order, order and condition and repair as required by Section 5, ordinary wear and tear consistent with the age of the Vessel at the time of redelivery excepted, and (y) shall comply with all applicable requirements of the Regulatory Agency necessary for the Vessel’s certification at the time of redelivery and (ii) on or before redelivery of the Vessel the Charterer will, at its expense, remove any stack insignia or stack colors of the Charterer and make all corrections and repairs necessary to cause the Vessel to comply with all of the terms of this Section 6(a2(e) hereofand of Section 5. The Charterer shall, ordinary wear and tear exceptedat all reasonable times, and no additional repair permit access to the Vessel shall be required to permit the Owner Trustee and the Owner Participant and to Persons designated by the Owner Trustee and the Owner Participant in connection with the verification of the conditions of redelivery of the Vessel to be fully operational set forth in this Section 2(e), and fit for use as a product tanker in U.S. coastwise trade; shall permit visual inspection of the Vessel by such Persons, provided, however, that -------- ------- (i) the Owner Trustee and the Owner Participant shall provide the Charterer with at least ten Business Days’ prior notice of its intention to exercise its rights hereunder, (ii) the exercise of such rights shall not be required to redeliver the Vessel fully operational and fit for use as a product tanker in U.S. coastwise trade if this Charter is terminated for economic obsolescence in accordance unreasonably interfere with the terms of Section 12(a) hereof as a result of a change in law or a Governmental Rule that makes the Vessel ineligible for U.S. coastwise trade ("Redelivery Condition"). Notwithstanding anything herein to the contrary, in the event this Charter is terminated by reason of economic obsolescence in accordance with the terms of Section 12(a) hereof, the Charterer shall not be obligated to make any repair, change or Modification if such repair, change or Modification is a basis for the Charterer's decision to terminate this Charter in accordance with the terms of such Section 12(a). The Charterer will redeliver the Vessel free use and clear of all Liens except Permitted Liens described in clause (iii) of the definition thereof. Upon the redelivery operation of the Vessel by the SEA-LAND PACIFIC Charterer and (iii) the Owner Trustee and the Owner Participant shall bear their own respective out-of-pocket expenses in connection with such access and inspection. The Vessel shall be jointly surveyed by the Charterer and the Owner Trustee not more than 90 days before redelivery under this Charter to determine the condition of the Vessel. The Charterer shall give the Owner Trustee at least 30 days prior notice of the date, time and place for such survey. Such survey shall not interfere with the Vessel’s scheduled operations. At such redelivery survey, surveyors representing both the Charterer and the Owner Trustee, or a surveyor satisfactory to both sides, shall be present and shall determine and state the agreed repairs or work necessary to place the Vessel on the date of redelivery in the condition required by this Section 2(e). The Charterer, at its expense, shall make such repairs or perform such work. The Charterer and the Owner Trustee shall bear the costs of their respective surveyors. If (i) the Vessel has not been drydocked within twelve months prior to redelivery or (ii) the Vessel has been drydocked within such period but subsequent to such drydocking an incident shall have occurred to the Vessel which in the opinion of the Classification Society is likely to have damaged the Vessel so as to affect the classification thereof, then in connection with the redelivery of the Vessel, the Charterer will not represent shall, at the request of the Owner Trustee given at least thirty days prior to the redelivery date, place the Vessel in drydock for inspection by the Classification Society of the bottom and other underwater parts of the Vessel. If the rudder, propellers, bottom or warrant that other underwater parts of the Vessel are found to be broken, damaged or defective, so as to affect the Vessel’s clean certificate of class, such defects shall be made good at the Charterer’s expense. While the Vessel is free in drydock, and clear if requested by the Owner Trustee or the representative of Liens of which it is not aware; providedthe Classification Society, that the foregoing shall not release the Charterer shall arrange to have the tail-end shaft drawn. If the same shall be condemned or found defective so as to affect the Vessel’s clean certificate of -------- any liability in respect of such Liens class, it shall be renewed or made good at the Charterer’s expense to the extent that Classification Society’s satisfaction without qualification. The expenses of drawing and replacing the tail-end shaft shall be borne by the Owner Trustee unless the Classification Society requires the tail-end shaft to be drawn (whether damaged or not), renewed or made good, in which event the Charterer is required to discharge such Liens under shall pay these expenses. The expenses in connection with putting the Operative Documents. In no event will Vessel in and taking her out of drydocking, including drydocking dues and the Shipowner fail to take control Classification Society’s fees, shall be paid by the Owner Trustee unless the rudder, propeller, bottom, other underwater parts of the Vessel more than thirty (30) days after it is made available or the tail-end shaft shall be found broken, damaged or defective so as to affect the Shipowner Vessel’s clean certificate of class in which case the Charterer shall pay the aforesaid expenses, dues and fees. During such inspections by the ChartererClassification Society, the Owner Trustee’s representative shall have the right to be present in the drydock, but without interfering with the Classification Society’s decisions.
Appears in 1 contract
Samples: Bareboat Charter Party (Horizon Lines Ventures, LLC)
Redelivery Condition. On the last day of the Charter -------------------------------- Term, unless (i) an Event of Loss has occurred, or (ii) use of the Vessel has been requisitioned as described in Section 13 hereof and such requisition is continuing or (iii) the Charterer has exercised any purchase option granted herein or (iv) the Charterer has terminated the Charter in accordance with the provisions of Section 12 and the Shipowner has elected to retain the Vessel, at the Charterer's cost and expense, and upon not fewer than 180 days' prior written notice to the Shipowner, the Charterer shall be deemed to have redelivered the Vessel or caused the Vessel to be redelivered to the Shipowner by making the Vessel available to the Shipowner at a U.S. port designated by the Shipowner; provided that such port shall be on the coast of the United States -------- designated by the Charterer and shall be a safe port, which is a port that is physically able to accommodate the Vessel and that is safe for the Vessel to reach, remain at and leave. Thereafter, the Charterer shall have no further liability or obligation with respect to the Vessel, and the Shipowner shall be responsible for all Vessel-related Claims arising after the redelivery of the Vessel. The Charterer agrees that at At the time of such redeliveryreturn to Head Lessor, each Head Lessor Compressor (and each part or component thereof) shall:
(i) meet the Vessel will original design specifications and operating standards of such Head Lessor Compressor;
(ii) be in the as good orderoperating condition, condition state of repair and repair required by all of the terms of Section 6(a) hereofappearance as when delivered to Head Lessee hereunder, and shall not have been subjected to excess wear and tear; provided, that ordinary wear and tear excepted, and no additional repair to the Vessel shall be required to permit the Vessel to be fully operational and fit for use as a product tanker in U.S. coastwise trade; provided, however, that -------- ------- the Charterer shall not be required to redeliver the Vessel fully operational and fit for use as a product tanker in U.S. coastwise trade if this Charter is terminated for economic obsolescence in accordance with the terms of Section 12(a) hereof as a result of a change in law or a Governmental Rule normal and customary usage is excepted; and provided, further that makes the Vessel ineligible for U.S. coastwise trade ("Redelivery Condition"). Notwithstanding anything ordinary wear and tear" as used herein to the contrary, in the event this Charter is terminated by reason of economic obsolescence in accordance with the terms of Section 12(a) hereof, the Charterer shall not be obligated construed as permitting any material broken, damaged or missing items or components of any Head Lessor Compressor such that its value, utility or remaining useful life will be reduced;
(iii) be in the condition required by Section 9 and with respect to make any repairHead Lessor Compressor that qualifies for or is subject to any manufacturer's maintenance, change repair or Modification if warranty policy, such repairHead Lessor Compressor shall have been maintained and repaired in a manner consistent with such policy;
(iv) have no missing or damaged components such that its value, change utility or Modification remaining useful life will be reduced;
(v) comply with all laws and rules referred to in Section 8;
(vi) have attached or affixed thereto all Required Alterations and any addition, modification or improvement considered an accession thereto as provided in Section 10;
(vii) have had removed therefrom in a workmanlike manner (A) at Head Lessor's option, any addition, modification or improvement which, as provided in Section 10, is a basis for the Charterer's decision to terminate this Charter in accordance with the terms of such Section 12(a). The Charterer will redeliver the Vessel owned by Head Lessee, and (B) any insignia or marking;
(viii) be free and clear of all Liens, other than (A) Head Lessor Liens except Permitted Liens described and (B) if such Lease Supplement has been terminated prior to its scheduled termination date, any User Lease that may be in clause effect with respect to such Head Lessor Compressor on such date;
(iiiix) if such Head Lessor Compressor qualifies for or is subject to any manufacturer's maintenance, repair or warranty policy, be properly deinstalled in a manner consistent with such policy and in such a way that the Head Lessor Compressor remains eligible for or subject to such policy, as appropriate, and Head Lessee shall provide a certificate from a Responsible Officer certifying that each Head Lessor Compressor was deinstalled in a manner consistent with such policy and remains eligible for or subject to such policy, as appropriate. Upon deinstallation, each Head Lessor Compressor shall be secured properly for air or overland or other suitable transport; and
(x) be delivered to the Redelivery Location in the manner in which is customary for equipment of the definition thereofsame type as such Head Lessor Compressor. Upon the redelivery of the Vessel by the ChartererHead Lessee shall, the Charterer will not represent or warrant that the Vessel is free and clear of Liens of which it is not aware; providedat its own expense, that the foregoing shall not release the Charterer of -------- any liability in respect of such Liens make repairs necessary to restore each Head Lessor Compressor to the extent that the Charterer is condition required by this Section 5.3 prior to discharge such Liens under the Operative Documents. In no event will the Shipowner fail to take control of the Vessel more than thirty (30) days after it is made available to the Shipowner by the Chartererredelivery hereunder.
Appears in 1 contract
Samples: Master Equipment Lease Agreement (Universal Compression Inc)
Redelivery Condition. On the last day of the Charter -------------------------------- Term, unless (i) an Event of Loss has occurred, or (ii) use of the Vessel has been requisitioned as described in Section 13 hereof and such requisition is continuing or (iii) the Charterer has exercised any purchase option granted herein or (iv) the Charterer has terminated the Charter in accordance with the provisions of Section 12 and the Shipowner has elected to retain the Vessel, at the Charterer's cost and expense, and upon not fewer than 180 days' prior written notice to the Shipowner, the Charterer shall be deemed to have redelivered the Vessel or caused the Vessel to be redelivered to the Shipowner by making the Vessel available to the Shipowner at a U.S. port designated by the Shipowner; provided that such port shall be on the coast of the United States -------- designated by the Charterer and shall be a safe port, which is a port that is physically able to accommodate the Vessel and that is safe for the Vessel to reach, remain at and leave. Thereafter, the Charterer shall have no further liability or obligation with respect to the Vessel, and the Shipowner shall be responsible for all Vessel-related Claims arising after the redelivery of the Vessel. The Charterer agrees that at At the time of such redeliveryreturn to Head Lessor, each Compressor (and each part or component thereof) shall (i) meet the Vessel will original design specifications and operating standards of such Compressor, (ii) be in the as good orderoperating condition, condition state of repair and repair required by all of the terms of Section 6(a) hereofappearance as when delivered to Head Lessee hereunder, and shall not have been subjected to excess wear and tear; provided, that ordinary wear and tear excepted, and no additional repair to the Vessel shall be required to permit the Vessel to be fully operational and fit for use as a product tanker in U.S. coastwise trade; provided, however, that -------- ------- the Charterer shall not be required to redeliver the Vessel fully operational and fit for use as a product tanker in U.S. coastwise trade if this Charter is terminated for economic obsolescence in accordance with the terms of Section 12(a) hereof as a result of a change in law or a Governmental Rule normal and customary usage is excepted; and provided, further that makes the Vessel ineligible for U.S. coastwise trade ("Redelivery Condition"). Notwithstanding anything ordinary wear and tear" as used herein to the contrary, in the event this Charter is terminated by reason of economic obsolescence in accordance with the terms of Section 12(a) hereof, the Charterer shall not be obligated construed as permitting any material broken, damaged or missing items or components of any Compressor such that its value, utility or remaining useful life will be reduced, (iii) be in the condition required by Section 9 and with respect to make any repairCompressor that qualifies for or is subject to any manufacturer's maintenance, change repair or Modification if warranty policy, such repairCompressor shall have been maintained and repaired in a manner consistent with such policy, change (iv) have no missing or Modification damaged components such that its value, utility or remaining useful life will be reduced, (v) comply with all laws and rules referred to in Section 8, (vi) have attached or affixed thereto any addition, modification or improvement considered an accession thereto as provided in Section 10 and (vii) have had removed therefrom in a workmanlike manner, (x) at Head Lessor's option, any addition, modification or improvement which, as provided in Section 10, is a basis for the Charterer's decision to terminate this Charter in accordance with the terms of such Section 12(aowned by Head Lessee, and (y) any insignia or marking, and each Compressor (and each part or component thereof). The Charterer will redeliver the Vessel , shall be free and clear of all Liens except Permitted Liens described in clause Liens, other than Head Lessor Liens. All operating licenses and agreements pertinent to the operation of each Compressor, (iii) other than non-transferable licenses to use software), that are capable of being transferred, shall be fully transferable upon the expiration of the definition thereofTerm to Head Lessor or its designee. Head Lessee shall transfer any such transferable license or agreement upon return of the Compressor at Head Lessee's cost and expense. Each Compressor that qualifies for or is subject to any manufacturer's maintenance, repair or warranty policy must be properly deinstalled in a manner consistent with such policy and in such a way that the Compressor remains eligible for or subject to such policy, as appropriate, and Head Lessee shall provide a certificate from a Responsible Officer certifying that each Compressor was deinstalled in a manner consistent with such policy and remains eligible for or subject to such policy, as appropriate. Upon deinstallation, each Compressor shall be secured properly for air or overland or other suitable transport. Each Compressor shall be delivered to the Redelivery Location in the manner in which is customary for such Compressor. Head Lessee shall, at its own expense, make repairs necessary to restore each Compressor to the condition required by this Section 5.3 prior to redelivery hereunder. Upon redelivery, Head Lessee shall provide any additional documentation reasonably requested by Head Lessor and reasonably available to Head Lessee, at Head Lessee's cost, relating to the redelivery of the Vessel by the Charterer, the Charterer will not represent or warrant that the Vessel is free and clear of Liens of which it is not aware; provided, that the foregoing shall not release the Charterer of -------- any liability in respect of such Liens to the extent that the Charterer is required to discharge such Liens under the Operative Documents. In no event will the Shipowner fail to take control of the Vessel more than thirty (30) days after it is made available to the Shipowner by the ChartererCompressor.
Appears in 1 contract
Samples: Master Equipment Lease Agreement (BRL Universal Equipment Corp)
