Common use of Termination security requirements Clause in Contracts

Termination security requirements. 25.5.1 If at any time after Delivery the leasing of the Ship shall be terminated, whether pursuant to clauses 3.3, 3.4, 3.7, 22 or 27 or otherwise, and at the time of such termination the Lessor shall not have finally agreed with the Board of Inland Revenue the Lessor's Corporation Tax computations regarding any liabilities to Corporation Tax (the "Potential Liabilities") which it may have with respect to the leasing of the Ship to the Lessee under this Lease or the termination of such leasing and the sale of the Ship (and which will be taken into account under the Financial Schedule) or if there shall be a dispute (of whatsoever nature) between the Lessor and the Board of Inland Revenue regarding the Lessor's Corporation Tax computations of the Potential Liabilities, the Lessee shall ensure and (when such termination is a voluntary termination) as a condition to the consent of the Lessor to such voluntary termination that all the existing security including, without limitation, the Letter of Credit and any Additional Security held by the Lessor at the time of such termination shall remain in full force and effect until such time as the Board of Inland Revenue shall have finally agreed the Lessor's said Corporation Tax computations.