Extraordinary Termination. (a) Upon the re-delivery of a Vessel or if a Vessel becomes a total loss or is declared as a constructive or compromised or arranged total loss or is requisitioned, this Agreement shall continue in full force and effect in relation to the other Vessel(s) only If, for the reasons contemplated in this clause 9.4, only one Vessel remains, then, upon the sale or re-delivery of such Vessel or if such Vessel becomes a total loss or is declared as a constructive or compromised or arranged total loss or is requisitioned, this Agreement shall terminate.
Appears in 7 contracts
Samples: Participation Agreement (Gener8 Maritime, Inc.), Pool Agreement (Gener8 Maritime, Inc.), Pool Agreement (Gener8 Maritime, Inc.)
Extraordinary Termination. (a) Upon the re-delivery of a Vessel or if a Vessel becomes a total loss or is declared as a constructive or compromised or arranged total loss or is requisitioned, this Agreement shall continue in full force and effect in relation to the other Vessel(s) only If, for the reasons contemplated in this clause 9.49.4(a), only one Vessel remains, then, upon the sale or re-delivery of such Vessel or if such Vessel becomes a total loss or is declared as a constructive or compromised or arranged total loss or is requisitioned, this Agreement shall terminate.
Appears in 4 contracts
Samples: Participation Agreement (Gener8 Maritime, Inc.), Participation Agreement (Gener8 Maritime, Inc.), Pool Agreement (Gener8 Maritime, Inc.)
