Common use of Subjects Clause in Contracts

Subjects. Buyer’s obligations hereunder are subject to an initial public offering being completed by Baltic Trading Limited on or prior to March 16, 2010. In the event such an offering is not completed on or prior to such date, either Buyers or Sellers may terminate this agreement by written notice to the other without any liability or payment (other than the return of Buyer’s deposit, with interest, if any, as provided in Clause 2)