Examples of Shipbuilding Contracts in a sentence
The Borrowers must pay all stamp, documentary, registration or other like duties or taxes (including any duties or taxes payable by the Bank) imposed on or in connection with any of the Shipbuilding Contracts, the Management Agreements, the Security Documents or the Loan and agree to indemnify the Bank against any liability arising by reason of any delay or omission by either Borrower to pay such duties or taxes.
In furtherance of the foregoing, Scorpio agrees that it will continue to use its commercially reasonable best efforts to, as promptly as practicable following the Closing and without further consideration, effect the novation of the DSME Shipbuilding Contracts.
Dorian and Scorpio acknowledge that, as of the date of this Agreement, they are in the process of novating the DSME Shipbuilding Contracts from the Contributed Scorpio Subsidiaries to certain Dorian Subsidiaries.
After the closing, Navios Acquisition will be a holding company that will own its vessels or hold the rights to the Shipbuilding Contracts or the MOAs, as the case may be, through separate wholly owned subsidiaries.
The Owners will endeavor to obtain a waiver of subrogation in favour of the Consultant, its servants, agents and employees from the insurers in respect of the Builders Risks Insurances arranged under the Shipbuilding Contract(s).