Sub-chartering and assignment Sample Clauses
The Sub-chartering and assignment clause governs whether and how a party to a charter agreement may transfer its rights or obligations to another party. Typically, this clause sets out the conditions under which the charterer can sub-charter the vessel to a third party or assign the contract, such as requiring the owner's prior written consent or limiting assignments to certain circumstances. Its core function is to maintain control over who is involved in the contractual relationship, thereby protecting the interests of the original parties and preventing unwanted or risky third-party involvement.
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Sub-chartering and assignment. Neither Charterer or Owner shall have the right to sub-charter or assign this COA without the express written consent of the other party, which consent either party may give or withhold within its absolute and sole discretion; provided consent shall be deemed given in the event Charterer transfers all of its interest in the Ellwood Field to such third assignee or sub-charterer, and provided, further, that no such consent shall be required for an assignment to a parent company or to a subsidiary in which the assigning party owns a controlling interest and the assigning party shall remain liable and obligated for all payments and to perform all terms and conditions pursuant to this COA.
Sub-chartering and assignment. Charterer may sub-charter or assign this Contract to any affiliate or subsidiary, but Charterer shall always remain responsible for the due fulfillment of this Contract. Except as stated above, this Contract shall not be assignable by either party without the consent of the other. Such consent shall not be unreasonably withheld by either party. If the Charterer exercises the Time Charter option for a new ATB per Article 3 (H), the Charterer shall have the right to sub-charter the vessel at its discretion in the market, according to Article 3 (H).
Sub-chartering and assignment. (a) The Charterers shall not without the prior written consent of the Owners:
(i) let the Vessel on demise charter for any period;
(ii) de-activate or lay up the Vessel;
(iii) assign their rights under this Charter.
(b) The Charterers acknowledge that the Owners' consent to any sub-bareboat chartering may be subject (amongst other things) to the Owners being satisfied as to the intended flag during such sub-bareboat chartering.
(c) Without prejudice to anything contained in this Clause 52, the Charterers shall not enter into any sub-charter for the Vessel other than a Sub-Charter which is (i) for a purpose for which the Vessel is suited, and (ii) with a Sub-Charterer which is not a Restricted Party and in each case, the Charterers shall (if relevant, subject to an acceptable Finance Party Quiet Enjoyment Letter being agreed in respect of such Sub-Charter), in relation to any Sub-Charter, assign to the Owners all their earnings arising out of and in connection with such Sub-Charter and all their rights and interest in such Sub-Charter on such conditions as the Owners may require and the Charterers shall serve a notice on any Sub-Charterer and shall obtain a written acknowledgement of such assignment from such Sub-Charterer in such form as is required by the Owners or any Finance Party (as the case may be).
Sub-chartering and assignment. (a) The Charterers shall not without the prior written consent of the Owners:
(i) let the Vessel on demise charter for any period;
(ii) de-activate or lay up the Vessel;
(iii) assign their rights under this Charter.