Common use of Continued Liability Clause in Contracts

Continued Liability. If, for whatever reason, the new Vessel owner does not execute the new berth rental agreement in accordance with this clause and the Vessel remains in the Berth, then without limiting Panuku’s rights, the Customer will continue as principal debtor liable to perform all the obligations and pay all amount owed under the Agreement as if the Vessel was still owned by the Customer. This obligation will continue until the new Vessel owner executes the new berth rental agreement.

Continued Liability. If, for whatever reason, the new Vessel owner does not execute the new berth rental agreement in accordance with this clause and the Vessel remains in the Berth, then without limiting Eke Panuku’s rights, the Customer will continue as principal debtor liable to perform all the obligations and pay all amount owed under the Agreement as if the Vessel was still owned by the Customer. This obligation will continue until the new Vessel owner executes the new berth rental agreement.