Common use of Yearly Reports Clause in Contracts

Yearly Reports. Within 90 days of 31 December 2010 and 31 December 2011, and more often if the Facility Agent reasonably requires, the Guarantor shall submit reports to the Facility Agent on the matters referred to in Clauses 18.1 and 19 of the Facility Agreement. Notwithstanding the suspension of those clauses by the supplemental letter to the Facility Agreement dated 12 August 2010, such reports shall be prepared as if those clauses still applied during the period from 30 June 2010 to 30 June 2012.”; (c) Clause 17.13 of the Facility Agreement shall be amended by inserting “except during the period from 30 June 2010 until, and including, 30 June 2012” after “the third year after the Delivery Date of the first Vessel to be delivered” in the third line of paragraph (a), after “the fifth year after the Delivery Date of the first Vessel” in the third line of paragraph (b) and after “the Final Maturity Date” in the second line of paragraph (c); (d) Clause 18 of the Facility Agreement shall be amended as follows: (i) Clause 18.1 of the Facility Agreement shall be amended by the insertion of “at all times when Clause 18.3 does not apply” after “that” in the first line; (ii) a new Clause 18.3 shall be inserted as follows:

Yearly Reports. Within 90 days of 31 December 2010 2010, 31 December 2011, 31 December 2012 and 31 December 20112013, and more often if the Facility Agent reasonably requires, the Guarantor shall submit reports to the Facility Agent on the matters referred to in Clauses 18.1 and 19 of the Facility Agreement. Notwithstanding the suspension of those clauses by the supplemental letter letters to the Facility Agreement dated 12 24 August 20102010 and 9 February 2012, such reports shall be prepared as if those clauses still applied during the period from 30 June 2010 to 30 June 20122014.”; (c) Clause 17.13 of the Facility Agreement shall be amended by inserting “except during the period from 30 June 2010 until, and including, 30 June 20122014” after “the third year after the Delivery Date of the first Vessel to be delivered” in the third line of paragraph (a), after “the fifth year after the Delivery Date of the first Vessel” in the third line of paragraph (b) and after “the Final Maturity Date” in the second line of paragraph (c); (d) Clause 18 of the Facility Agreement shall be amended as follows: (i) Clause 18.1 of the Facility Agreement shall be amended by the insertion of “at all times when Clause 18.3 does not apply” after “that” in the first line; (ii) a new Clause 18.3 shall be inserted as follows: