Remedy of Owner's breach. Notwithstanding anything herein contained, the Owner shall remain liable to perform all the obligations assumed by it under the Charter and the Mortgagee shall have no obligations whatsoever thereunder or be under any liability whatsoever to the Charterer in event of any failure by the Owner to perform its obligations thereunder or hereunder provided however that: 16.5.1 a notice in writing (which shall set out full particulars of the matters complained of and which is hereinafter called the "notice of complaint") shall be immediately given by the Charterer to the Mortgagee in event of any breach or alleged breach of the Charter by the Owner by reason whatsoever the Charterer claims to be entitled to determine the Charter; 16.5.2 within fifteen (15) days after receipt by the Mortgagee of any notice of complaint by the Mortgagee shall be entitled (but not bound) to notify the Charterer in writing of its intention to remedy the matters complained of by such notice of complaint and any remedial measures thereafter taken by the Mortgagee shall be without prejudice to the Charterer's right to claim against the Owner in respect of any loss and damage suffered by the Charterer by reason of such breach but in no circumstances shall the Mortgagee be under any liability therefore or for any loss or damage suffered by the Charterer arising from delay or otherwise in effecting such remedial measures as the Mortgagee (whose decision shall be final) deems appropriate; and 16.5.3 all expenses whatsoever incurred by the Mortgagee in or about such remedial measures as may be undertaken on its behalf pursuant to clause 16.5.2 shall be recoverable by the Mortgagee from the Owner on demand but payment by the Owner to the Mortgagee pursuant to such demand shall not as between the Owner and the Charterer operate as an admission by the Owner of liability for the matters complained of in the relevant notice of complaint.
Appears in 7 contracts
Samples: Second Priority Quadripartite Deed (Top Tankers Inc.), Quadripartite Deed (Top Tankers Inc.), Quadripartite Deed (Top Tankers Inc.)
Remedy of Owner's breach. Notwithstanding anything herein contained, the Owner shall remain liable to perform all the obligations assumed by it under the Charter and the Mortgagee shall have no obligations whatsoever thereunder or be under any liability whatsoever to the Charterer in event of any failure by the Owner to perform its obligations thereunder or hereunder provided however that:
16.5.1 16.3.1 a notice in writing (which shall set out full particulars of the matters complained of and which is hereinafter called the "notice of complaint") shall be immediately given by the Charterer to the Mortgagee in event of any breach or alleged breach of the Charter by the Owner by reason whatsoever the Charterer claims to be entitled to determine the Charter;
16.5.2 16.3.2 within fifteen (15) days after receipt by the Mortgagee of any notice of complaint by the Mortgagee shall be entitled (but not bound) to notify the Charterer in writing of its intention to remedy the matters complained of by such notice of complaint and any remedial measures thereafter taken by the Mortgagee shall be without prejudice to the Charterer's right to claim against the Owner in respect of any loss and damage suffered by the Charterer by reason of such breach but in no circumstances shall the Mortgagee be under any liability therefore or for any loss or damage suffered by the Charterer arising from delay or otherwise in effecting such remedial measures as the Mortgagee (whose decision shall be final) deems appropriate; and
16.5.3 all expenses whatsoever incurred by the Mortgagee in or about such remedial measures as may be undertaken on its behalf pursuant to clause 16.5.2 shall be recoverable by the Mortgagee from the Owner on demand but payment by the Owner to the Mortgagee pursuant to such demand shall not as between the Owner and the Charterer operate as an admission by the Owner of liability for the matters complained of in the relevant notice of complaint.
Appears in 3 contracts
Samples: Quadripartite Deed (Top Tankers Inc.), Quadripartite Deed (Top Tankers Inc.), Quadripartite Deed (Top Tankers Inc.)
Remedy of Owner's breach. Notwithstanding anything herein contained, the Owner shall remain liable to perform all the obligations assumed by it under the Charter and the Mortgagee shall have no obligations whatsoever thereunder or be under any liability whatsoever to the Charterer in event of any failure by the Owner to perform its obligations thereunder or hereunder provided however that:
16.5.1 a notice in writing (which shall set out full particulars of the matters complained of and which is hereinafter called the "notice of complaint") shall be immediately given by the Charterer to the Mortgagee in event of any breach or alleged breach of the Charter by the Owner by reason whatsoever the Charterer claims to be entitled to determine the Charter;
16.5.2 within fifteen (15) days after receipt by the Mortgagee of any notice of complaint by the Mortgagee shall be entitled (but not bound) to notify the Charterer in writing of its intention to remedy the matters complained of by such notice of complaint and any remedial measures thereafter taken by the Mortgagee shall be without prejudice to the Charterer's right to claim against the Owner in respect of any loss and damage suffered by the Charterer by reason of such breach but in no circumstances shall the Mortgagee be under any liability therefore or for any loss or damage suffered by the Charterer arising from delay or otherwise in effecting such remedial measures as the Mortgagee (whose decision shall be final) deems appropriate; and
16.5.3 all expenses whatsoever incurred by the Mortgagee in or about such remedial measures as may be undertaken on its behalf pursuant to clause 16.5.2 shall be recoverable by the Mortgagee from the Owner on demand but payment by the Owner to the Mortgagee pursuant to such demand shall not as between the Owner and the Charterer operate as an admission by the Owner of liability for the matters complained of in the relevant notice of complaint.
16.6 Sale free of or subject to Charter Notwithstanding anything herein contained, in the event of a sale of the Ship during the Charter Period pursuant to the power in that behalf vested in the Mortgagee by virtue of the Security Documents, such sale shall be free of or subject to the Charter at the option of the Mortgagee.
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Samples: Second Priority Quadripartite Deed (Top Tankers Inc.)
Remedy of Owner's breach. Notwithstanding anything herein contained, the Owner shall remain liable to perform all the obligations assumed by it under the Charter and the Mortgagee shall have no obligations whatsoever thereunder or be under any liability whatsoever to the Charterer in event of any failure by the Owner to perform its obligations thereunder or hereunder provided however that:
16.5.1 16.3.1 a notice in writing (which shall set out full particulars of the matters complained of and which is hereinafter called the "notice of complaint") shall be immediately given by the Charterer to the Mortgagee in event of any breach or alleged breach of the Charter by the Owner by reason whatsoever the Charterer claims to be entitled to determine the Charter;
16.5.2 16.3.2 within fifteen (15) days after receipt by the Mortgagee of any notice of complaint by the Mortgagee shall be entitled (but not bound) to notify the Charterer in writing of its intention to remedy the matters complained of by such notice of complaint and any remedial measures thereafter taken by the Mortgagee shall be without prejudice to the Charterer's right to claim against the Owner in respect of any loss and damage suffered by the Charterer by reason of such breach but in no circumstances shall the Mortgagee be under any liability therefore or for any loss or damage suffered by the Charterer arising from delay or otherwise in effecting such remedial measures as the Mortgagee (whose decision shall be final) deems appropriate; and
16.5.3 16.3.3 all expenses whatsoever incurred by the Mortgagee in or about such remedial measures as may be undertaken on its behalf pursuant to clause 16.5.2 shall be recoverable by the Mortgagee from the Owner on demand but payment by the Owner to the Mortgagee pursuant to such demand shall not as between the Owner and the Charterer operate as an admission by the Owner of liability for the matters complained of in the relevant notice of complaint16.
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Remedy of Owner's breach. Notwithstanding anything herein contained, the Owner shall remain liable to perform all the obligations assumed by it under the Charter and the Mortgagee shall have no obligations whatsoever thereunder or be under any liability whatsoever to the Charterer in event of any failure by the Owner to perform its obligations thereunder or hereunder provided however that:
16.5.1 a notice in writing (which shall set out full particulars of the matters complained of and which is hereinafter called the "notice of complaint") shall be immediately given by the Charterer to the Mortgagee in event of any breach or alleged breach of the Charter by the Owner by reason whatsoever the Charterer claims to be entitled to determine the Charter;
16.5.2 within fifteen (15) days after receipt by the Mortgagee of any notice of complaint by the Mortgagee shall be entitled (but not bound) to notify the Charterer in writing of its intention to remedy the matters complained of by such notice of complaint and any remedial measures thereafter taken by the Mortgagee shall be without prejudice to the Charterer's right to claim against the Owner in respect of any loss and damage suffered by the Charterer by reason of such breach but in no circumstances shall the Mortgagee be under any liability therefore or for any loss or damage suffered by the Charterer arising from delay or otherwise in effecting such remedial measures as the Mortgagee (whose decision shall be final) deems appropriate; and
16.5.3 all expenses whatsoever incurred by the Mortgagee in or about such remedial measures as may be undertaken on its behalf pursuant to clause 16.5.2 shall be recoverable by the Mortgagee from the Owner on demand but payment by the Owner to the Mortgagee pursuant to such demand shall not as between the Owner and the Charterer operate as an admission by the Owner of liability for the matters complained of in the relevant notice of complaint.
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Remedy of Owner's breach. Notwithstanding anything herein contained, the Owner shall remain liable to perform all the obligations assumed by it under the Charter and the Mortgagee shall have no obligations whatsoever thereunder or be under any liability whatsoever to the Charterer in event of any failure by the Owner to perform its obligations thereunder or hereunder provided however that:
16.5.1 a notice in writing (which shall set out full particulars of the matters complained of and which is hereinafter called the "notice of complaint") shall be immediately given by the Charterer to the Mortgagee in event of any breach or alleged breach of the Charter by the Owner by reason whatsoever the Charterer claims to be entitled to determine the Charter;
16.5.2 within fifteen (15) days after receipt by the Mortgagee of any notice of complaint by the Mortgagee shall be entitled (but not bound) to notify the Charterer in writing of its intention to remedy the matters complained of by such notice of complaint and any remedial measures thereafter taken by the Mortgagee shall be without prejudice to the Charterer's right to claim against the Owner in respect of any loss and damage suffered by the Charterer by reason of such breach but in no circumstances shall the Mortgagee be under any liability therefore or for any loss or damage suffered by the Charterer arising from delay or otherwise in effecting such remedial measures as the Mortgagee (whose decision shall be final) deems appropriate; and
16.5.3 all expenses whatsoever incurred by the Mortgagee in or about such remedial measures as may be undertaken on its behalf pursuant to clause 16.5.2 shall be recoverable by the Mortgagee from the Owner on demand but payment by the Owner to the Mortgagee pursuant to such demand shall not as between the Owner and the Charterer operate as an admission by the Owner of liability for the matters complained of in the relevant notice of complaint.
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Remedy of Owner's breach. Notwithstanding anything herein contained, the Owner shall remain liable to perform all the obligations assumed by it under the Charter and the Mortgagee shall have no obligations whatsoever thereunder or be under any liability whatsoever to the Charterer in event of any failure by the Owner to perform its obligations thereunder or hereunder provided however that:
16.5.1 a notice in writing (which shall set out full particulars of the matters complained of and which is hereinafter called the "notice of complaint"') shall be immediately given by the Charterer to the Mortgagee in event of any breach or alleged breach of the Charter by the Owner by reason whatsoever the Charterer claims to be entitled to determine the Charter;
16.5.2 within fifteen (15) days after receipt by the Mortgagee of any notice of complaint by the Mortgagee shall be entitled (but not bound) to notify the Charterer in writing of its intention to remedy the matters complained of by such notice of complaint and any remedial measures thereafter taken by the Mortgagee shall be without prejudice to the Charterer's right to claim against the Owner in respect of any loss and damage suffered by the Charterer by reason of such breach but in no circumstances shall the Mortgagee be under any liability therefore or for any loss or damage suffered by the Charterer arising from delay or otherwise in effecting such remedial measures as the Mortgagee (whose decision shall be final) deems appropriate; and
16.5.3 all expenses whatsoever incurred by the Mortgagee in or about such remedial measures as may be undertaken on its behalf pursuant to clause 16.5.2 shall be recoverable by the Mortgagee from the Owner on demand but payment by the Owner to the Mortgagee pursuant to such demand shall not as between the Owner and the Charterer operate as an admission by the Owner of liability for the matters complained of in the relevant notice of complaint.clause
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Remedy of Owner's breach. Notwithstanding anything herein contained, the Owner shall remain liable to perform all the obligations assumed by it under the Charter and the Mortgagee shall have no obligations whatsoever thereunder or be under any liability whatsoever to the Charterer in event of any failure by the Owner to perform its obligations thereunder or hereunder provided however that:
16.5.1 a notice in writing (which shall set out full particulars of the matters complained of and which is hereinafter called the "notice of complaint") shall be immediately given by the Charterer to the Mortgagee in event of any breach or alleged breach of the Charter by the Owner by reason whatsoever the Charterer claims to be entitled to determine the Charter;
16.5.2 within fifteen (15) days after receipt by the Mortgagee of any notice of complaint by the Mortgagee shall be entitled (but not bound) to notify the Charterer in writing of its intention to remedy the matters complained of by such notice of complaint and any remedial measures thereafter taken by the Mortgagee shall be without prejudice to the Charterer's Charterers right to claim against the Owner in respect of any loss and damage suffered by the Charterer by reason of such breach but in no circumstances shall the Mortgagee be under any liability therefore or for any loss or damage suffered by the Charterer arising from delay or otherwise in effecting such remedial measures as the Mortgagee (whose decision shall be final) deems appropriate; and
16.5.3 all expenses whatsoever incurred by the Mortgagee in or about such remedial measures as may be undertaken on its behalf pursuant to clause 16.5.2 shall be recoverable by the Mortgagee from the Owner on demand but payment by the Owner to the Mortgagee pursuant to such demand shall not as between the Owner and the Charterer operate as an admission by the Owner of liability for the matters complained of in the relevant notice of complaint.
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