Restrictions on Chartering. The Lessee shall not, without the prior written consent of the Lessor acting reasonably (which shall be subject to the Lessor being satisfied with the information or documentation or opinion provided in accordance with clause 9.4.2):
10.17.1 let the Ship on demise charter;
10.17.2 let the Ship on or enter into any time or consecutive voyage charter in respect of the Ship to the Original Purchaser or any other person who has at any time had a right to acquire the Ship from the Builder;
10.17.3 put the Ship into the possession of any person for the purpose of work being done upon it in an amount exceeding or likely to exceed five million Dollars (US$5,000,000) (or the equivalent in any other currency) unless either:
(a) that person has first given to the Lessor and in terms satisfactory to it a written undertaking not to exercise any lien on the Ship or its earnings for the cost of such work or for any other reason; or
(b) the cost of such work is covered by insurances; or
(c) the Lessee establishes to the reasonable satisfaction of the Lessor that it has sufficient funds to pay for the cost of such work; and
10.17.4 knowingly permit the Time Charterer to enter into any sub-charter of or for the Ship which would breach the terms of the covenant in clause 10.17.2.
Restrictions on Chartering. (i) Let a Collateral Vessel on demise charter for any period or (ii) enter into any charter in respect of a Collateral Vessel other than (x) a Permitted Charter or (y) with the prior written consent of the Administrative Agent (with such consent not to be unreasonably withheld).
Restrictions on Chartering. Without the consent of the Lender, which consent shall not unreasonably be withheld (i) let any Vessel on demise charter for any period; (ii) except for the Charters, enter into any time or consecutive voyage charter in respect of any Vessel for a term which exceeds, or which by virtue of any optional extensions may exceed, thirteen (13) months; (iii) enter into any charter in relation to any Vessel under which more than 2 months’ hire (or the equivalent) is payable in advance; (iv) charter any Vessel otherwise than on bona fide arm’s length terms at the time when such Vessel is fixed; (v) de-activate or lay up any Vessel; or (iv) put any Vessel into the possession of any Person for the purpose of work being done upon her in an amount exceeding or likely to exceed $2,000,000 (or the equivalent in any other currency) unless that Person has first given to the Lender and in terms satisfactory to it a written undertaking not to exercise any Lien on such Vessel or her earnings for the cost of such work or for any other reason.
Restrictions on Chartering. In relation to the Vessel owned by it, (i) let that Vessel on demise charter for any period, other than bareboat charters to Affiliates, (ii) permanently remove that Vessel from service unless it has first given notice to the Facility Agent and the asset maintenance test set forth in Section 9.3 is satisfied before and after such removal, or (iii) put the vessels FALCON DIAMOND and FALCON PEARL into the possession of any person for the purpose of work being done upon it in an amount exceeding or likely to exceed $5,000,000 (or the equivalent in any other currency) for each such vessel unless that person has first given to the Security Trustee and in terms satisfactory to it a written undertaking not to exercise any lien on that Vessel or its earnings for the cost of such work or for any other reason.
Restrictions on Chartering. In relation to the Vessel owned by it, (i) let that Vessel on demise charter for any period, other than any Approved Bareboat Charter, or (ii) permanently remove that Vessel from service unless it has first given notice to the Facility Agent and the requirement in respect of the Minimum Value Percentage set forth in Section 10.3 (Minimum Value Percentage) is satisfied before and after such removal;
Restrictions on Chartering. The Borrower shall not, without the prior written consent of the Agent (acting upon the instructions of the Lenders, acting reasonably) in respect of the Vessel owned by it:
(a) let or otherwise charter the Vessel to any other party, except pursuant to the Charter, or any party approved pursuant to clause 10.2.25 below;
(b) make any material amendment to the Charter or waive any material provision of the Charter or terminate the Charter;
(c) put the Vessel into the possession of any person for the purpose of work being done upon it in an amount exceeding or likely to exceed five million Dollars (US$5,000,000) (or the Dollar Equivalent (in the case of a claim in any other currency)) unless either:
i) that person has first given to the Agent and in terms satisfactory to it a written undertaking not to exercise any lien on the Vessel or its earnings for the cost of such work or for any other reason; or
ii) the cost of such work is covered by insurances; or
iii) the Borrower establishes to the reasonable satisfaction of the Agent that it has sufficient funds to pay for the cost of such work.
Restrictions on Chartering. Without the consent of the Lender, which consent shall not unreasonably be withheld (i) let any Vessel on demise charter for any period; (ii) enter into any time or consecutive voyage charter in respect of any Vessel for a term which exceeds, or which by virtue of any optional extensions may exceed, 13 months; (iii) enter into any charter in relation to any Vessel under which more than 2 months’ hire (or the equivalent) is payable in advance; (iv) charter any Vessel otherwise than on bona fide arm’s length terms at the time when such Vessel is fixed; (v) de-activate or lay up any Vessel; or (iv) put any Vessel into the possession of any Person for the purpose of work being done upon her in an amount exceeding or likely to exceed $1,000,000 (or the equivalent in any other currency) unless that Person has first given to the Lender and in terms satisfactory to it a written undertaking not to exercise any Lien on such Vessel or her earnings for the cost of such work or for any other reason.
