Common use of Charter Contracts Clause in Contracts

Charter Contracts. In connection with any Permitted Third Party Charters having an indicated duration of at least 24 months (including any optional extensions or renewals) and any Intra-Group Charter (other than, in each case, in connection with Permitted Scorpio Pooling Arrangements), the applicable Credit Party shall, at its own cost and expense, promptly and duly execute and deliver to the Collateral Agent an Assignment of Charters (as defined in the General Assignment Agreement) in respect of such charter contract (if permitted thereunder), and (i) will use its commercially reasonable efforts to cause the charterer under such Permitted Third Party Charter and (ii) will cause the charterer under such Intra-Group Charter to execute and deliver to the Collateral Agent a consent to the Assignment of Charters (as defined in the General Assignment Agreement) in form and substance reasonably satisfactory to the Administrative Agent.