Common use of Covenants of Owner Trust Clause in Contracts

Covenants of Owner Trust. and the Managing Trustee; -------------------------------------------------- Certain Agreements. (a) Subject to Section 2.02, the Owner Trust will duly and ------------------ punctually perform and observe all covenants and conditions to be performed and observed by it pursuant to the terms of any Operative Document. Except as permitted by this Indenture or the terms of any Operative Document, the Owner Trust will take no action and will cooperate with the Indenture Trustee so as to permit no action to be taken by others which will release, or which may be construed as releasing, the Owner Trust or the Charterer from any of its or the Charterer's, as the case may be, obligations or liabilities under any Operative Document, or which may result in the termination, amendment or modification, or impair the validity, of any such Operative Document.

Covenants of Owner Trust. and the Managing Trustee; -------------------------------------------------- Certain Agreements. (a) Subject to Section 2.02, the Owner Trust will duly and ------------------ punctually perform and observe all covenants and conditions to be performed and observed by it pursuant to the terms of any Operative Document. Except as permitted by this Indenture or the terms of any Operative Document, the Owner Trust will take no action and will cooperate with the Indenture Trustee so as to permit no action to be taken by others which will release, or which may be construed as releasing, the Owner Trust or the Charterer from any of its or the Charterer'sits, as the case may be, obligations or liabilities under any Operative Document, or which may result in the termination, amendment or modification, or impair the validity, of any such Operative Document.