Common use of Purchase Obligation - outbreak of war Clause in Contracts

Purchase Obligation - outbreak of war. In the event of a declaration of war by any of the following countries to any of the other following countries: the United States of America, the United Kingdom, France and the People’s Republic of China, the Owners may at their option, if such declaration of war has or is reasonably likely to have a Material Adverse Effect, request the Charterers to purchase the Vessel by delivering to the Charterers a notice requiring the Charterers to purchase the Vessel and the Charterers shall be obliged to purchase the Vessel on the Purchase Obligation Date for the applicable Purchase Obligation Price.