Common use of Requisition of Use Clause in Contracts

Requisition of Use. (a) In the event any Vessel is requisitioned for use by any governmental or other competent authority during the Charter Period, such requisition (unless it constitutes an Event of Loss hereunder) shall not terminate or entitle Charterer to terminate this Demise Charter or to cease or interrupt payment in full of Charter Hire. If during the Charter Period any Vessel is under such requisition, Charterer shall be entitled to any amounts payable to Shipowner or to Charterer in respect of such requisition insofar as it falls within the Term (and, upon the request of Charterer, Shipowner shall execute and deliver to Charterer any necessary instrument of assignment with respect to the claim of Shipowner with respect thereto) and, provided no Event of Default (other than an Event of Default solely attributable to the fact that required action by Charterer with respect to such Vessel is prevented by such requisition) shall have occurred and be continuing, Shipowner shall pay any such amounts to Charterer immediately upon receipt thereof by Shipowner.

Requisition of Use. (a) In the event any Vessel is requisitioned for use by any governmental or other competent authority during the Charter PeriodTerm, such requisition (unless it constitutes an Event of Loss hereunder) shall not terminate or entitle Charterer to terminate this Demise Charter or to cease or interrupt payment in full of Charter Hire. If during the Charter Period Term any Vessel is under such requisition, Charterer shall be entitled to any amounts payable to Shipowner or to Charterer in respect of such requisition insofar as it falls within the Term (and, upon the request of Charterer, Shipowner shall execute and deliver to Charterer any necessary instrument of assignment with respect to the claim of Shipowner with respect thereto) and, provided no Event of Default (other than an Event of Default solely attributable to the fact that required action by Charterer with respect to such Vessel is prevented by such requisition) shall have occurred and be continuing, Shipowner shall pay any such amounts to Charterer immediately upon receipt thereof by Shipowner.