Novat1on Agreement Sample Contracts

NOVAT1ON AGREEMENT TO THE TIME CHARTERPARTY DATED THE 1ST DAY OF FEBRUARY 2010 IN RESPECT OF M/T GENMAR CONCORD among GMR CONCORD LLC, as disponent owner, BORGSHIP TANKERS INC., as charterer and CONCORD LTD., as original owner January 27, 2011

Novat1on Agreement • May 10th, 2011 • General Maritime Corp / MI • Deep sea foreign transportation of freight • England

• Contract Type
  Novat1on Agreement
• Filed
  May 10th, 2011
• Company
  General Maritime Corp / MI
• Industry
  Deep sea foreign transportation of freight
• Jurisdiction
  England

THIS NOVATION AGREEMENT TO THE TIME CHARTERPARTY DATED THE 1ST DAY OF FEBRUARY 2010 IN RESPECT OF M/T GENMAR CONCORD (this “Agreement”) is made as of the 27 day of January, 2011, by and among (i) GMR Concord LLC, a Marshall Islands limited liability company (the “Disponent Owner”), as disponent owner, (ii) Borgship Tankers Inc., a Marshall Islands corporation (the “Charterer”), as charterer, and (iii) Concord Ltd., a company incorporated in the Islands of Bermuda (the “Original Owner”, and together with the Disponent Owner and the Charterer, the “Parties”), as original owner.