J DUCKLING definition

J DUCKLING means the 2003-built Supramax bulk carrier of 52,500 metric deadweight tons which has been delivered by the relevant Seller to Star T pursuant to the relevant MOA and registered in the ownership of Star T under the relevant Approved Flag with the name “STAR THETA”;
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J DUCKLING registered in the respective ownership of the following Owners: A Duckling Corporation, Panama B Duckling Corporation, Panama C Duckling Corporation, Panama F Duckling Corporation, Panama G Duckling Corporation, Panama I Duckling Corporation, Panama J Duckling Corporation, Panama and all ultimately beneficially owned by TMT Co., Ltd., Taiwan ("TMT"). In the event that one or more of the above vessels are not delivered pursuant to their respective MOA's for any reason whatsoever, TMT hereby agrees and assumes the obligation to substitute the non-delivered vessel(s) with replacement tonnage pursuant and subject to the terms of the Supplemental Agreement referenced in Clause 25. CLAUSE 18 This sale is subject to:
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