Common use of Validity and completeness of Shipbuilding Contract Clause in Contracts

Validity and completeness of Shipbuilding Contract. The Shipbuilding Contract constitutes valid, binding and enforceable obligations of the Builder and the Borrower respectively in accordance with its terms; and: (a) the copy of the Shipbuilding Contract delivered to the Agent before the date of this Agreement is a true and complete copy; and (b) no amendments or additions to the Shipbuilding Contract as delivered to the Agent before the date of this Agreement have been agreed (except for those amendments which are permitted under Clause 11.12) nor has the Borrower or the Builder waived any of their respective rights under the Shipbuilding Contract.

Validity and completeness of Shipbuilding Contract. The copy of the Shipbuilding Contract delivered to the Lender before the date of this Agreement is a true and complete copy and: (a) the Shipbuilding Contract constitutes valid, binding and enforceable obligations of the Builder and the Borrower respectively Owner in accordance with its terms; and: (a) the copy of the Shipbuilding Contract delivered terms subject to the Agent before the date of this Agreement is a true and complete copyany relevant insolvency laws affecting creditors’ rights generally; and (b) no amendments or additions to the Shipbuilding Contract as delivered have been agreed (other than those notified to the Agent before Lender prior to the date of this Agreement have been agreed (except for those amendments which are permitted under Clause 11.12Agreement) nor has the Borrower Owner or the Builder waived any of their respective rights under the Shipbuilding Contract.