Common use of DELIVERY, INSPECTION, AND ACCEPTANCE Clause in Contracts

DELIVERY, INSPECTION, AND ACCEPTANCE. The Shipowner hereby appoints the Charterer as the authorized agent of the Shipowner to inspect and accept delivery of the Vessels from Seller hereunder and under the Demise Charter for all purposes thereof. The Charterer shall cause one or more authorized representatives of the Charterer to inspect each Vessel upon delivery thereof to the Charterer and, if such Vessel is found to be in good order, to accept such Vessel as aforesaid; provided, however, that the Charterer shall not be authorized to accept any Vessel on behalf of the Shipowner unless the conditions precedent set forth in Sections 3.1 and 3.2 shall have been satisfied at or prior to such acceptance. Acceptance by the Charterer of the Vessels in accordance with this Agreement shall, without further act, constitute (a) delivery by the Shipowner to the Charterer of the Vessels under the Demise Charter, and (b) irrevocable acceptance by the Charterer of the Vessels for charter to the Charterer under, and otherwise for all purposes of, the Demise Charter. If any Vessel is found by the Charterer not to be in good order, the Charterer shall not accept any of the Vessels on behalf of the Shipowner under and in accordance with the terms hereof.

DELIVERY, INSPECTION, AND ACCEPTANCE. The Initial Owner Participant and Shipowner each hereby appoints each of the Charterer Charterers as the authorized agent of the Initial Owner Participant and Shipowner to inspect and accept delivery of the applicable Vessels by Initial Owner Participant from Seller Sellers and by Shipowner from Initial Owner Participant, respectively, hereunder and under the Demise Charter Charters for all purposes thereof. The Charterer Charterers shall cause one or more authorized representatives of the Charterer Charterers to inspect each Vessel upon delivery thereof to the Charterer Charterers and, if such Vessel is found to be in good order, to accept such Vessel as aforesaid; provided, however, that the Charterer Charterers shall not be authorized to accept any Vessel on behalf of the Initial Owner Participant and/or the Shipowner unless the conditions precedent set forth in Sections 3.1 and 3.2 shall have been satisfied at or prior to such acceptance. Acceptance by the Charterer each of the Charterers of the applicable Vessels in accordance with this Agreement shall, without further act, constitute (a) delivery by the Shipowner to the each Charterer of the applicable Vessels under the applicable Demise Charter, and (b) irrevocable acceptance by the each Charterer of the applicable Vessels for charter to the such Charterer under, and otherwise for all purposes of, the applicable Demise Charter. If any Vessel is found by the Charterer Charterers not to be in good order, the Charterer Charterers shall not accept any of the Vessels such Vessel on behalf of the Initial Owner Participant or the Shipowner under and in accordance with the terms hereof.