Common use of Performance of Contracts Clause in Contracts

Performance of Contracts. Borrower will duly observe and perform in all material respects all covenants and obligations to be performed by it under any charter or any other contract for use of the Vessels or any of them and will promptly take any and all action as may be reasonably necessary to enforce its rights under any such charter or contract or to secure the performance by such charterer or operator of such party’s obligations under any such charter or contract. Borrower shall not materially amend, terminate or otherwise modify the terms of any such charter or contract without the prior written consent of Lender, which shall not be unreasonably withheld or delayed, but to which reasonable conditions may be attached; provided, however, Lender shall have no obligation to consent to any termination or to any amendment or modification, if in Lender’s judgment such amendment or modification would materially increase Lender’s risks in the transaction, reduce its returns or otherwise disadvantage Lender.

Performance of Contracts. Borrower will duly observe and perform in all material respects all covenants and obligations to be performed by it under any charter or any other contract for use of the Vessels or any of them and will promptly take any and all action as may be reasonably necessary to enforce its rights under any such charter or contract or to secure the performance by such charterer or operator of such party’s obligations under any such charter or contract. Borrower shall not materially amend, terminate or otherwise modify the terms of any such charter or contract without the prior written consent of LenderLenders, which shall not be unreasonably withheld or delayed, but to which reasonable conditions may be attached; provided, however, Lender Lenders shall have no obligation to consent to any termination or to any amendment or modification, if in Lender’s Lenders’ judgment such amendment or modification would materially increase Lender’s Lenders’ risks in the transaction, reduce its returns or otherwise disadvantage LenderLenders.

Performance of Contracts. Borrower will duly observe and perform in all material respects all covenants and obligations to be performed by it under any charter or any other contract for use of the Pool Vessels or any of them and will promptly take any and all action as may be reasonably necessary to enforce its rights under any such charter or contract or to secure the performance by such charterer or operator of such party’s obligations under any such charter or contract. Borrower shall not materially amend, terminate or otherwise modify the terms of any such charter or contract without the prior written consent of Lenderthe Lenders, which shall not be unreasonably withheld or delayed, but to which reasonable conditions may be attached; provided, however, Lender the Lenders shall have no obligation to consent to any termination or to any amendment or modification, if in Lender’s the Lenders’ judgment such amendment or modification would materially increase Lender’s the Lenders’ risks in the transaction, reduce its returns or otherwise disadvantage Lenderthe Lenders.