Relocation and Reflagging; Retendering Clause Samples

Relocation and Reflagging; Retendering. Any Ship that is, or is scheduled to be, or at any time becomes or is scheduled to become, laid-up for any period of time exceeding six (6) consecutive months and which must be moved according to applicable law or regulation and for which the Shipowner of such Ship has not received authorization from local authorities to leave such Ship in its current location, shall be moved to a new location reasonably acceptable to the Administrative Agent, with costs covered by such Shipowner; provided that if such Ship has been tendered for re-employment on or prior to the expiration of such 6-month period, such 6-month period may be extended for an additional period reasonably acceptable to the Administrative Agent and ending no later than the date on which the results of such tender have been announced or employment is commencing. Schedule 10 Agreed Events of Default Each of the events or circumstances set out in this Schedule 10 is an Event of Default (save for Section 23 (Acceleration)) that shall apply from the Effective Date for so long as any amount is outstanding under any Finance Document or any undrawn guarantee remains outstanding under the Amended Guarantee Facility Agreement.