Rejection and cancellation. either exercise or fail to exercise any right which the relevant Owner may have to reject such Additional Ship or cancel or rescind or otherwise terminate the relevant Contract provided always that any such rejection of such Additional Ship or cancellation, rescission or other termination of the relevant Contract by the relevant Owner after such consent is given shall be without responsibility on the part of the Finance Parties who shall be under no liability whatsoever to the extent that such rejection, rescission, cancellation or termination is thereafter adjudged to constitute a repudiation or other breach of such Contract by the relevant Owner;
Appears in 3 contracts
Samples: Facilities Agreement (Aries Maritime Transport LTD), Facilities Agreement (Omega Navigation Enterprises, Inc.), Facility Agreement (Aries Maritime Transport LTD)
Rejection and cancellation. either exercise or fail to exercise any right which the relevant Owner Buyer may have to reject such Additional the Ship or cancel or rescind or otherwise terminate the relevant Contract provided always that any such rejection of such Additional the Ship or cancellation, rescission or other termination of the relevant Contract by the relevant Owner Buyer after such consent is given shall be without responsibility on the part of the Finance Parties Bank who shall be under no liability whatsoever to the extent that such rejection, rescission, cancellation or termination is thereafter adjudged to constitute a repudiation or other breach of such the Contract by the relevant Owner;Buyer.
Appears in 2 contracts
Samples: Supplemental Agreement, Supplemental Agreement (Gala Properties Inc.)
Rejection and cancellation. either exercise or fail to exercise any right which the relevant Owner may have to reject such Additional Ship or cancel or rescind or otherwise terminate the relevant Contract provided always that any such rejection of such Additional Ship or cancellation, rescission or other termination of the relevant Contract by the relevant Owner after such consent is given shall be without responsibility on the part of the Finance Parties Bank who shall be under no liability whatsoever to the extent that such rejection, rescission, cancellation or termination is thereafter adjudged to constitute a repudiation or other breach of such Contract by the relevant Owner;
Appears in 2 contracts
Samples: Supplemental Agreement (Top Ships Inc.), Facilities Agreement (Top Tankers Inc.)
Rejection and cancellation. either exercise or fail to exercise any right which the relevant Owner Buyer may have to reject such Additional the Ship or cancel or rescind or otherwise terminate the relevant Contract provided always that any such rejection of such Additional the Ship or cancellation, rescission or other termination of the relevant Contract by the relevant Owner Buyer after such consent is given shall be without responsibility on the part of the Finance Parties Security Agent who shall be under no liability whatsoever to the extent that such rejection, rescission, cancellation or termination is thereafter adjudged to constitute a repudiation or other breach of such the Contract by the relevant Owner;Buyer.
Appears in 1 contract
