Common use of Redelivery Clause in Contracts

Redelivery. (a) Subject to the rights of Charterer under Articles 10(a), 10(h) and the rights and obligations of Charterer under Article 16 hereof, on or before the last day of the Charter Period (but in no event prior to the expiration of the Term), unless an Event of Loss has occurred or this Demise Charter has been terminated pursuant to Article 15(b) or the use of any Vessel has been requisitioned and such requisition is continuing at the end of the Charter Period, Charterer shall effect Redelivery of the Vessels to Shipowner at safe and suitably equipped berths at Tampa, Florida, or such other safe berths and safe port suitable for the Vessels on the Gulf Coast of the United States designated by Shipowner, unless otherwise agreed by Shipowner and Charterer, in class and in the order and condition required by the terms of Article 4, except for ordinary wear and tear not affecting class, with no required surveys or inspections which are due or overdue and with no outstanding recommendations or requirements on the Vessels (nor subject to any damage or other condition which, if known to the Classification Society or USCG, would result in such a recommendation or requirement) and with all required certificates in effect. Charterer shall give written notice to Shipowner of the expected time and port of Redelivery at least sixty (60) days prior to Redelivery. At the request of Shipowner a mutually agreed upon surveyor shall be appointed for the purpose of determining and confirming in writing the condition of the Vessels at the time of Redelivery. In the event that the Charterer and the Shipowner are unable to agree on a surveyor, the Charterer shall recommend a list of three (3) internationally recognized surveyors and the Shipowner shall choose one (1) surveyor from such list, who shall then act as the surveyor in connection with Redelivery. Charterer shall bear all survey expenses and other costs, if any, including the cost of docking and undocking, if required, as well as all repair costs incurred, in connection with such Redelivery. Shipowner may require that Charterer lay up any Vessel at the time of Redelivery for a period of up to two hundred seventy (270) days, the expense of such lay-up to be for Charterer’s account for the first ninety (90) days, and thereafter for the account of Owner Participant, at prevailing local commercial rates, provided that such lay-up may be at a Gulf Coast port designated by Charterer, subject to the other requirements of this Article 13(a).

Redelivery. (a) Subject to the rights of Charterer under Articles 10(a), 10(h) and the rights and obligations of Charterer under Article 16 hereof, on or before the last day of the Charter Period (but in no event prior to the expiration of the Term), unless an Event of Loss has occurred or this Demise Charter has been terminated pursuant to Article 15(b) or the use of any Vessel has been requisitioned and such requisition is continuing at the end of the Charter Period, Charterer shall effect Redelivery of the Vessels to Shipowner at safe and suitably equipped berths at Tampa, Florida, or such other safe berths and safe port suitable for the Vessels on the Gulf Coast of the United States designated by Shipowner, unless otherwise agreed by Shipowner and Charterer, in class and in the order and condition required by the terms of Article 4, except for ordinary wear and tear not affecting class, with no required surveys or inspections which are due or overdue and with no outstanding recommendations or requirements on the Vessels (nor subject to any damage or other condition which, if known to the Classification Society or USCG, would result in such a recommendation or requirement) and with all required certificates in effect). Charterer shall give written notice to Shipowner of the expected time and port of Redelivery at least sixty (60) days prior to Redelivery. At the request of Shipowner a mutually agreed upon surveyor shall be appointed for the purpose of determining and confirming in writing the condition of the Vessels at the time of Redelivery. In the event that the Charterer and the Shipowner are unable to agree on a surveyor, the Charterer shall recommend a list of three (3) internationally recognized surveyors and the Shipowner shall choose one (1) surveyor from such list, who shall then act as the surveyor in connection with Redelivery. Charterer shall bear all survey expenses and other costs, if any, including the cost of docking and undocking, if required, as well as all repair costs incurred, in connection with such Redelivery. Shipowner Owner Participant may require that Charterer lay up any Vessel at the time of Redelivery for a period of up to two hundred seventy (270) days, the expense of such lay-up to be for Charterer’s account for the first ninety (90) days, and thereafter for the account of Owner Participant, at prevailing local commercial rates, provided that such lay-up may be at a Gulf Coast port designated by Charterer, subject to the other requirements of this Article 13(a).

Redelivery. (a) Subject to the rights of Charterer under Articles 10(a), 10(h) and the rights and obligations of Charterer under Article 16 hereof, on or before the last day of the Charter Period (but in no event prior to the expiration of the Term), unless If an Event of Loss has occurred or this Demise Charter has been terminated pursuant Default occurs with respect to Article 15(ba Schedule and Lessee is required to return the Equipment described on such Schedule to Lessor, Lessee shall return such Equipment to Lessor free and clear of all Liens whatsoever, to such place(s) or within the use of any Vessel has been requisitioned and such requisition is continuing continental United States as Lessor shall specify. Lessee shall provide, at the end of the Charter Periodits expense, Charterer shall effect Redelivery of the Vessels to Shipowner at safe and suitably equipped berths at Tampa, Florida, or such other safe berths and safe port suitable transit insurance for the Vessels redelivery period in an amount equal to the replacement value of such Equipment and Lessor shall be named as the loss payee on all such policies of insurance. Lessee shall cause: (1) the Gulf Coast Supplier’s representative or other qualified person acceptable to Lessor (the “Designated Person”) to de-install such Equipment in accordance with the Supplier’s specifications (as applicable) and pack such Equipment properly and in accordance with the Supplier’s recommendations (as applicable); and (2) such Equipment to be transported in a manner consistent with the Supplier’s recommendations and practices (as applicable). Upon return, such Equipment shall be: (i) in the same condition as when delivered to Lessee under the related Schedule, ordinary wear and tear excepted; (ii) mechanically and structurally sound, capable of performing the United States designated by Shipownerfunctions for which such Equipment was originally designed, in accordance with the Supplier’s published and recommended specifications (as applicable); (iii) redelivered with all component parts in good operating condition (and all components must meet or exceed the Supplier’s minimum recommended specifications, unless otherwise agreed by Shipowner Lessor in writing); (iv) redelivered with all software and Chartererdocumentation necessary for the operation of such Equipment for the performance of the functions for which such Equipment was originally designed (whether or not such software is embedded in or otherwise is a part of such Equipment); and (v) cleaned and cosmetically acceptable, in class with all Lessee-installed markings removed and all rust, corrosion or other contamination having been removed or properly treated, and in such condition so that it may be immediately installed and placed in service by a third party. Upon delivery, such Equipment shall be in compliance with all applicable Federal, state and local laws, and health and safety guidelines. Lessee shall be responsible for the order cost of all repairs, alterations, inspections, appraisals, storage charges, insurance costs, demonstration costs and condition required by other related costs necessary to cause such Equipment to be in full compliance with the terms of Article 4this Lease. (b) If requested by Lessor, except for ordinary wear Lessee shall also deliver all related records and tear not affecting classother data to Lessor, with no required surveys including all records of maintenance, modifications, additions and major repairs, computerized maintenance history, and any maintenance and repair manuals (collectively, the “Records”). All manuals or inspections which other documents delivered to Lessor that are due or overdue and with no outstanding recommendations or requirements on the Vessels (nor subject to any damage or other condition which, if known periodic revision will be fully up-to-date and current to the Classification Society latest revision standard of any particular manual or USCG, would result in such a recommendation or requirement) and with all required certificates in effect. Charterer shall give written notice to Shipowner of the expected time and port of Redelivery at least sixty (60) days prior to Redelivery. At the request of Shipowner a mutually agreed upon surveyor shall be appointed for the purpose of determining and confirming in writing the condition of the Vessels at the time of Redeliverydocument. In the event that any such Records are missing or incomplete, Lessor shall have the Charterer right to cause the same to be reconstructed at Lessee’s expense. (c) In addition to Lessor’s other rights and remedies hereunder, if such Equipment and the Shipowner related Records are unable not returned in a timely fashion, or if repairs are necessary to agree place any item of Equipment in the condition required in this Section, Lessee shall (i) continue to pay to Lessor per diem rent at the last prevailing lease rate under the applicable Schedule with respect to such item of Equipment, for the period of delay in redelivery, and/or for the period of time reasonably necessary to accomplish such repairs, and (ii) pay to Lessor an amount equal to the aggregate cost of any such repairs. Lessor’s acceptance of such rent on account of such delay and/or repair does not constitute an extension or renewal of the term of the related Schedule or a surveyorwaiver of Lessor’s right to prompt return of such Equipment in proper condition. Such amount shall be payable upon the earlier of Lessor’s demand or the return of such Equipment in accordance with this Lease. (d) Without limiting any other terms or conditions of this Lease, the Charterer shall recommend a list provisions of three (3) internationally recognized surveyors and this Section are of the Shipowner shall choose one (1) surveyor from such list, who shall then act as the surveyor in connection with Redelivery. Charterer shall bear all survey expenses and other costs, if any, including the cost essence of docking and undocking, if required, as well as all repair costs incurred, in connection with such Redelivery. Shipowner may require that Charterer lay up any Vessel at the time of Redelivery for a period of up to two hundred seventy (270) days, the expense of such lay-up to be for Charterer’s account for the first ninety (90) dayseach Schedule, and thereafter for the account upon application to any court of Owner Participantequity having jurisdiction, at prevailing local commercial rates, provided that such lay-up may Lessor shall be at entitled to a Gulf Coast port designated by Charterer, subject to the other requirements decree against Lessee requiring Lessee’s specific performance of its agreements in this Article 13(a)Section.

Redelivery. Upon the expiration or earlier termination of the Term with respect to each Item of Equipment (unless Lessee has exercised its transfer option with respect thereto pursuant to Section 28.2 or 28.4; or a third party sale thereof acceptable to Lessor is consummated on the Termination Date with respect thereto pursuant to Section 28.3 or Lessee is required to purchase an Item of Equipment pursuant to Section 28.5), Lessee will, at its expense, dismantle (to the extent necessary to ship such Item of Equipment), surrender and deliver possession of each Item of Equipment to Lessor at the Redelivery Location with a certificate executed by a Responsible Officer of Lessee certifying that such Item of Equipment is in the condition required hereunder, a copy of an inventory list for each Item and all then current plans, specifications and operating, maintenance, and repair manuals and logs relating to each Item that have been prepared or received by Lessee, and with respect to any Item of Equipment which qualifies for or is subject to any manufacturer's maintenance, repair or warranty policy, (i) if such manufacturer is Lessee or an affiliate thereof Lessee shall cause such manufacturer to deliver to Lessor a statement or certificate that has been signed by an authorized representative of the manufacturer attesting to the availability of such maintenance, repair or warranty policy and (ii) if the manufacturer is not Lessee nor an affiliate of Lessee and generally provides its customers upon request a statement or certificate attesting to the availability of such maintenance, repair or warranty policy, then Lessee shall utilize its reasonable best efforts to obtain from such manufacturer such a statement or certificate. At the time of such return to Lessor, each Item of Equipment (and each part or component thereof) shall (a) Subject meet the original design specifications and operating standards of such Item, (b) be in as good operating condition, state of repair and appearance as when delivered to Lessee hereunder, and shall not have been subjected to excess wear and tear; provided, that ordinary wear and tear as a result of normal and customary usage is excepted; and provided, further that "ordinary wear and tear" as used herein shall not be construed as permitting any material broken, damaged or missing items or components of any Item of Equipment, and (c) be in the condition required by Section 11 and with respect to any Item of Equipment that qualifies for or is subject to any manufacturer's maintenance, repair or warranty policy, such Item shall have been maintained and repaired in a manner consistent with such policy, (d) have no missing or damaged components such that its value, utility or remaining useful life will be reduced, (e) comply with all laws and rules referred to in Sections 10 and 11, (f) have attached or affixed thereto any addition, modification or improvement considered an accession thereto as provided in Section 12 and (g) have had removed therefrom in a workmanlike manner, (i) at Lessor's option, any addition, modification or improvement which, as provided in Section 12, is owned by Lessee, and (ii) any insignia or marking permitted pursuant to Section 9, and each Item of Equipment (and each part or component thereof), shall be free and clear of all Liens, other than Lessor Liens. All operating licenses and agreements pertinent to the rights operation of Charterer under Articles 10(aeach Item of Equipment, (other than non-transferable licenses to use software), 10(h) and the rights and obligations that are capable of Charterer under Article 16 hereofbeing transferred, on or before the last day of the Charter Period (but in no event prior to shall be fully transferable upon the expiration of the Term), unless an Event of Loss has occurred Term to Lessor or this Demise Charter has been terminated pursuant to Article 15(b) its designee. Lessee shall transfer any such transferable license or the use of any Vessel has been requisitioned and such requisition is continuing at the end agreement upon return of the Charter PeriodItem of Equipment at Lessee's cost and expense. Each Item of Equipment that qualifies for or is subject to any manufacturer's maintenance, Charterer shall effect Redelivery of the Vessels to Shipowner at safe and suitably equipped berths at Tampa, Florida, repair or warranty policy must be properly deinstalled in a manner consistent with such other safe berths and safe port suitable for the Vessels on the Gulf Coast of the United States designated by Shipowner, unless otherwise agreed by Shipowner and Charterer, in class policy and in such a way that the order Item remains eligible for or subject to such policy, as appropriate, and Lessee shall provide a certificate from a Responsible Officer certifying that each Item of Equipment was deinstalled in a manner consistent with such policy and remains eligible for or subject to such policy, as appropriate. Upon deinstallation, each Item of Equipment shall be secured properly for air or overland or other suitable transport. Each Item of Equipment shall be delivered in the manner in which is customary for such Item of Equipment. Lessee shall at its own expense, make repairs necessary to restore each Item of Equipment to the condition required by the terms of Article 4this Section 6.1 prior to redelivery hereunder. Upon redelivery, except for ordinary wear and tear not affecting classLessee shall provide any additional documentation reasonably requested by Lessor, with no required surveys or inspections which are due or overdue and with no outstanding recommendations or requirements on the Vessels (nor subject to any damage or other condition whichat Lessor's cost, if known relating to the Classification Society redelivery of or USCG, would result Lessor's interest in such a recommendation or requirement) and with all required certificates in effect. Charterer shall give written notice to Shipowner each Item of the expected time and port of Redelivery at least sixty (60) days prior to Redelivery. At the request of Shipowner a mutually agreed upon surveyor shall be appointed for the purpose of determining and confirming in writing the condition of the Vessels at the time of Redelivery. In the event that the Charterer and the Shipowner are unable to agree on a surveyor, the Charterer shall recommend a list of three (3) internationally recognized surveyors and the Shipowner shall choose one (1) surveyor from such list, who shall then act as the surveyor in connection with Redelivery. Charterer shall bear all survey expenses and other costs, if any, including the cost of docking and undocking, if required, as well as all repair costs incurred, in connection with such Redelivery. Shipowner may require that Charterer lay up any Vessel at the time of Redelivery for a period of up to two hundred seventy (270) days, the expense of such lay-up to be for Charterer’s account for the first ninety (90) days, and thereafter for the account of Owner Participant, at prevailing local commercial rates, provided that such lay-up may be at a Gulf Coast port designated by Charterer, subject to the other requirements of this Article 13(a)Equipment.

Redelivery. (a) Subject to the rights of Charterer under Articles 10(a), 10(h) and the rights and obligations of Charterer under Article 16 hereof, on On or before the last day date of the Charter Period expiration or earlier termination of the Term with respect to each Item of Equipment (but in no event prior unless Lessee has exercised its transfer option with respect thereto pursuant to Section 28.2 or 28.4; or a third party sale thereof acceptable to Lessor is consummated on the Termination Date with respect thereto pursuant to Section 28.3 or Lessee is required to purchase such Item of Equipment), Lessee will, at its expense, dismantle (to the expiration extent necessary to ship such Item of the TermEquipment), unless an Event surrender and deliver possession of Loss has occurred or this Demise Charter has been terminated pursuant each Item of Equipment to Article 15(b) or the use of any Vessel has been requisitioned and such requisition is continuing Lessor at the end Redelivery Location with (i) a certificate executed by a Responsible Officer of the Charter PeriodLessee certifying that (A) Lessee has used best efforts to maintain for each Item of Equipment being redelivered all plans, Charterer shall effect Redelivery specifications and operating, maintenance and repair manuals prepared or reviewed by Lessee or any of the Vessels to Shipowner at safe its Affiliates and suitably equipped berths at Tampa, Florida, or (B) such other safe berths and safe port suitable for the Vessels on the Gulf Coast Item of the United States designated by Shipowner, unless otherwise agreed by Shipowner and Charterer, in class and Equipment is in the order and condition required hereunder, (ii) a copy of an inventory list for each Item and (iii) all then current plans, specifications and operating, maintenance, and repair manuals and logs relating to such Item that have been retained by the terms Lessee or any of Article 4its Affiliates, except and (iv) with respect to any Item of Equipment which qualifies for ordinary wear and tear not affecting class, with no required surveys or inspections which are due or overdue and with no outstanding recommendations or requirements on the Vessels (nor is subject to any damage manufacturer's maintenance, repair or other condition whichwarranty policy, (A) if known such manufacturer is Lessee or an affiliate thereof, Lessee shall cause such manufacturer to deliver to Lessor a statement or certificate that has been signed by an authorized representative of the manufacturer attesting to the Classification Society availability of such maintenance, repair or USCGwarranty policy and (B) if the manufacturer is not Lessee nor an affiliate of Lessee and generally provides its customers upon request a statement or certificate attesting to the availability of such maintenance, would result in repair or warranty policy, then Lessee shall utilize reasonable efforts to obtain from such manufacturer such a recommendation statement or requirement) and with all required certificates in effect. Charterer shall give written notice to Shipowner of the expected time and port of Redelivery at least sixty (60) days prior to Redelivery. At the request of Shipowner a mutually agreed upon surveyor shall be appointed for the purpose of determining and confirming in writing the condition of the Vessels at the time of Redelivery. In the event that the Charterer and the Shipowner are unable to agree on a surveyor, the Charterer shall recommend a list of three (3) internationally recognized surveyors and the Shipowner shall choose one (1) surveyor from such list, who shall then act as the surveyor in connection with Redelivery. Charterer shall bear all survey expenses and other costs, if any, including the cost of docking and undocking, if required, as well as all repair costs incurred, in connection with such Redelivery. Shipowner may require that Charterer lay up any Vessel at the time of Redelivery for a period of up to two hundred seventy (270) days, the expense of such lay-up to be for Charterer’s account for the first ninety (90) days, and thereafter for the account of Owner Participant, at prevailing local commercial rates, provided that such lay-up may be at a Gulf Coast port designated by Charterer, subject to the other requirements of this Article 13(a)certificate.

Redelivery. (a) Subject to the rights of Charterer under Articles 10(a), 10(h) and the rights and obligations of Charterer under Article 16 hereof, on or before the last day of the Charter Period (but in no event prior to the expiration of the Term), unless an Event of Loss has occurred or this Demise Charter has been terminated pursuant to Article 15(b) or the use of any Vessel has been requisitioned and such requisition is continuing at the end of the Charter Period, Charterer shall effect Redelivery of the Vessels to Shipowner at safe and suitably equipped berths at TampaMetropolis, Florida, Illinois or such other safe berths and safe port suitable for the Vessels on the Gulf Coast of the United States Lower Mississippi River designated by Shipowner, unless otherwise agreed by Shipowner and Charterer, in class and in the order and condition required by the terms of Article 4, except for ordinary wear and tear not affecting classtear, with no required surveys or inspections which are due or overdue and with no outstanding recommendations or requirements on the Vessels (nor subject to any damage or other condition which, if known to the Classification Society or USCG, would result in such a recommendation or requirement) and with all required certificates in effect). Charterer shall give written notice to Shipowner of the expected time and port of Redelivery at least sixty (60) days prior to Redelivery. At the request of Shipowner a mutually agreed upon surveyor shall be appointed for the purpose of determining and confirming in writing the condition of the Vessels at the time of Redelivery. In the event that the Charterer and the Shipowner are unable to agree on a surveyor, the Charterer shall recommend a list of three (3) internationally recognized surveyors and the Shipowner shall choose one (1) surveyor from such list, who shall then act as the surveyor in connection with Redelivery. Charterer shall bear all survey expenses and other costs, if any, including the cost of docking and undocking, if required, as well as all repair costs incurred, in connection with such Redelivery. Shipowner may require that Charterer lay up any Vessel at the time of Redelivery for a period of up to two hundred seventy (270) days, the expense of such lay-up to be for Charterer’s account for the first ninety (90) days, and thereafter for the account of Owner Participant, at prevailing local commercial rates, provided that such lay-up may be at a Gulf Coast Lower Mississippi River port designated by Charterer, subject to the other requirements of this Article 13(a).

Redelivery. Upon the expiration or earlier termination of the Term with respect to each Item of Equipment (unless Obligor has exercised its transfer option with respect thereto pursuant to Section 25.2 hereof or a third party sale thereof acceptable to Obligee is consummated on the Termination Date with respect thereto pursuant to Section 25.3 hereof), Obligor will, at its expense, dismantle, surrender and deliver possession of each Item of Equipment to Obligee at the Redelivery Location with a certificate executed by a Responsible Officer of Obligor certifying that the Item of Equipment is in the condition required hereunder, a copy of an inventory list for each Item, proof of payment by Obligor to the Person from whom Obligor acquired such Item of Equipment in the form of a canceled check or wire transfer confirmation, all then current plans, specifications and operating, maintenance, and repair manuals and logs relating to each Item that have been prepared or received by Obligor, and with respect to any Item of Equipment which qualifies for or is subject to any manufacturer's maintenance, repair or warranty policy, a statement or certificate that has been signed by an authorized representative of the manufacturer attesting to such condition. At the time of such return to Obligee, each Item of Equipment (and each part or component thereof) shall (a) Subject meet the original design specifications and operating standards of such Item, (b) be in as good operating condition, state of repair and appearance as when delivered to the rights of Charterer under Articles 10(a)Obligor hereunder, 10(h) and the rights and obligations of Charterer under Article 16 hereof, on or before the last day of the Charter Period (but in no event prior to the expiration of the Term), unless an Event of Loss has occurred or this Demise Charter has been terminated pursuant to Article 15(b) or the use of any Vessel has been requisitioned and such requisition is continuing at the end of the Charter Period, Charterer shall effect Redelivery of the Vessels to Shipowner at safe and suitably equipped berths at Tampa, Florida, or such other safe berths and safe port suitable for the Vessels on the Gulf Coast of the United States designated by Shipowner, unless otherwise agreed by Shipowner and Charterer, in class and in the order and condition required by the terms of Article 4, except for ordinary wear and tear not affecting classexcepted, and in the condition required by Section 11 hereof, (c) have no missing or damaged components such that its value, utility or remaining useful life will be reduced, (d) comply with no required surveys all laws and rules referred to in Section 11 hereof, (e) have attached or inspections which are due affixed thereto any addition, modification or overdue improvement considered an accession thereto as provided in Section 12 hereof and with no outstanding recommendations (f) have had removed therefrom in a workmanlike manner, (i) at Obligor's option, any addition, modification or requirements on the Vessels improvement which, as provided in Section 12 hereof, is owned by Obligor, and (nor subject ii) any insignia or marking permitted pursuant to Section 13 hereof, and (g) be free and clear of all Liens, other than a Lien granted or placed thereon by Obligee, Lender, or any Assignee pursuant to Section 14.2 hereof. With respect to any damage Item of Equipment which has an hour meter or other condition whichsimilar device affixed to or relating to such Equipment, if known to the Classification Society or USCG, would result in such a recommendation or requirement) and with all required certificates in effect. Charterer shall give written notice to Shipowner Obligor must provide evidence of the expected time and port total operating hours on such Item at redelivery, as evidenced by such meter or similar device. The total operating hours for each such Item of Redelivery at least sixty (60) days prior to Redelivery. At the request Equipment in excess of Shipowner a mutually agreed upon surveyor 3000 hours per year shall be appointed for the purpose of determining and confirming in writing the condition of the Vessels at the time of Redelivery. In the event that the Charterer and the Shipowner are unable billed to agree on a surveyor, the Charterer shall recommend a list of three (3) internationally recognized surveyors and the Shipowner shall choose one (1) surveyor from such list, who shall then act as the surveyor in connection with Redelivery. Charterer shall bear all survey expenses and other costs, if any, including the cost of docking and undocking, if required, as well as all repair costs incurred, in connection with such Redelivery. Shipowner may require that Charterer lay up any Vessel at the time of Redelivery for a period of up to two hundred seventy (270) days, the expense of such lay-up to be for Charterer’s account for the first ninety (90) days, and thereafter for the account of Owner Participant, at prevailing local commercial rates, provided that such lay-up may be Obligor at a Gulf Coast port designated rate set by ChartererObligee (which rate shall be reasonable in all the circumstances). All operating licenses and agreements pertinent to operation of each Item of Equipment, subject whether or not included in the original Agreement (other than non-transferable licenses to the other requirements use software), that are capable of this Article 13(a).being

Redelivery. (a) Subject Unless Lessee purchases the Equipment pursuant to Section 19 or remarkets the rights of Charterer under Articles 10(a), 10(h) and the rights and obligations of Charterer under Article 16 hereofEquipment pursuant to Section 20, on or before the last day of the Charter Period (but in no event prior to the expiration of the Term), unless an Event of Loss has occurred or this Demise Charter has been terminated pursuant to Article 15(b) or the use of any Vessel has been requisitioned and such requisition is continuing whether at the end of the Charter PeriodBasic Term or a Renewal Term in accordance with Section 20 or upon termination pursuant to Section 15, Charterer shall effect Redelivery Lessee shall, at its own risk, cost and expense, dismantle the Equipment under the supervision of the Vessels Independent Inspector (as hereinafter defined) in accordance with generally accepted methods and procedures for deinstallation, identify the component parts of each Item of Equipment with appropriate tags and markings, crate, catalog and ship the Equipment using a reasonable method of transportation and redeliver the Equipment to Shipowner Lessor at safe and suitably equipped berths at Tampa, Florida, or such other safe berths and safe port suitable for no more than two (2) separate locations in the Vessels on the Gulf Coast of the continental United States designated specified in writing by Shipowner, unless otherwise agreed by Shipowner and Charterer, in class and in the order and condition required by the terms of Article 4, except for ordinary wear and tear not affecting class, with no required surveys or inspections which are due or overdue and with no outstanding recommendations or requirements on the Vessels (nor subject to any damage or other condition which, if known to the Classification Society or USCG, would result in such a recommendation or requirement) and with all required certificates in effect. Charterer shall give written notice to Shipowner of the expected time and port of Redelivery Lessor at least sixty (60) 30 days prior to Redeliverythe date scheduled for shipment. At Prior to such return, Lessee shall remove all Alterations or property incorporated or installed in or attached to the request Equipment that are not owned by, or not being purchased by, Lessor pursuant to Section 7(g)(iii) hereof, and any Alterations or property not so removed that are owned by Lessee shall become the property of Shipowner a mutually agreed upon surveyor shall be appointed for the purpose of determining and confirming in writing the condition of the Vessels at the time of RedeliveryLessor. In the event that the Charterer Equipment is neither purchased nor remarketed and such Alterations or property are turned over to Lessor, they shall become the Shipowner are unable to agree on a surveyorproperty of Lessor. At the time of such return, the Charterer Equipment (i) shall recommend be free and clear of all Liens other than Lessor Liens, (ii) shall be in compliance with all the terms hereof, and (iii) will be in a list condition such that it can perform to the manufacturer's tolerances and specifications for or applicable to comparable equipment of three (3) internationally recognized surveyors like age, usage and configuration and so that it may be promptly installed and placed into use in an operating environment similar to that under which it was used during the Shipowner shall choose one (1) surveyor from such listTerm without the need for refurbishment or overhaul, who shall then act as the surveyor other than minor repairs and adjustments which would ordinarily be expected in connection with Redeliverya relocation of similar equipment. Charterer shall bear all survey expenses and other costs, if any, including the cost of docking and undocking, if required, as well as all repair costs incurred, in In connection with the return of the Equipment, the Lessee shall cause, at its own expense, any Hazardous Materials used or stored in conjunction with the Equipment to be removed, transported and disposed of in accordance with Applicable Laws. Simultaneously with the return of the Equipment, Lessee shall deliver to Lessor a copy of the manufacturer's operating manuals, plans and specifications, maintenance records, operating logs, and similar documentation with respect to such RedeliveryEquipment, and all maintenance manuals and logs and similar documentation necessary for the continued maintenance or operation of such Equipment. Shipowner may require that Charterer lay up any Vessel Effective at the time of Redelivery for a period of up such return is required, Lessee at its own cost and expense shall assign or sublicense to two hundred seventy (270) days, the expense of such lay-up extent legally permitted or otherwise use commercially reasonable efforts to be for Charterer’s account secure for the first ninety (90) days, benefit of Lessor and thereafter its successors and assigns any software licenses necessary for the account normal operation of Owner Participant, at prevailing local commercial rates, provided that the Equipment by Lessor (or such lay-up may be at a Gulf Coast port designated by Charterer, subject to the other requirements of this Article 13(asuccessors and assigns).

Redelivery. Upon the expiration or earlier termination of the term of any Equipment Schedule (or of any renewal thereof, if applicable), Lessee shall, unless Lessee has paid the Stipulated Loss Value and other amounts with respect thereto pursuant to Section 12 hereof or has exercised its options pursuant to Sections 19(b) or (c) hereof and fully has satisfied its obligations thereunder, at its own expense, return the Equipment to Lessor within ten (10) days (a) Subject to the rights of Charterer under Articles 10(a), 10(h) and the rights and obligations of Charterer under Article 16 hereof, on or before the last day of the Charter Period (but in no event prior to the expiration of the Term), unless an Event of Loss has occurred or this Demise Charter has been terminated pursuant to Article 15(b) or the use of any Vessel has been requisitioned and such requisition is continuing at the end of the Charter Period, Charterer shall effect Redelivery of the Vessels to Shipowner at safe and suitably equipped berths at Tampa, Florida, or such other safe berths and safe port suitable for the Vessels on the Gulf Coast of the United States designated by Shipowner, unless otherwise agreed by Shipowner and Charterer, in class and in the order and same condition required by the terms of Article 4as when delivered to Lessee hereunder, except for ordinary wear and tear resulting from proper use thereof excepted, (b) in such operating condition as is capable of performing its originally intended use, (c) having been used, operated, serviced and repaired in accordance with, and otherwise complying with, Section 7 hereof, and (d) free and clear of all Liens whatsoever except Liens resulting from claims against Lessor not affecting class, with no required surveys or inspections which are due or overdue relating to the ownership of such Equipment. Lessee shall return the Equipment by delivering it to such place within the Continental United States as Lessor shall reasonably specify. In addition to Lessor's other rights and with no outstanding recommendations or requirements on the Vessels (nor subject to any damage or other condition whichremedies hereunder, if known the Equipment is not returned in a timely fashion, or if repairs are necessary to place any items of Equipment in the Classification Society or USCGcondition required in this Section, would result in Lessee shall continue to pay to Lessor per diem Rent at the last prevailing lease rate under the applicable Equipment Schedule with respect to such a recommendation or requirement) and with all required certificates in effect. Charterer shall give written notice to Shipowner items of the expected time and port of Redelivery at least sixty (60) days prior to Redelivery. At the request of Shipowner a mutually agreed upon surveyor shall be appointed Equipment, for the purpose period of determining and confirming delay in writing redelivery, or for the condition period of the Vessels at the time of Redelivery. In the event that the Charterer and the Shipowner are unable reasonably necessary to agree on a surveyor, the Charterer shall recommend a list of three (3) internationally recognized surveyors and the Shipowner shall choose one (1) surveyor from accomplish such list, who shall then act as the surveyor in connection repairs together with Redelivery. Charterer shall bear all survey expenses and other costs, if any, including the cost of docking and undocking, if requiredsuch repairs, as well as all repair costs incurred, in connection with such Redeliveryapplicable. Shipowner may require that Charterer lay up any Vessel at the time of Redelivery for a period of up to two hundred seventy (270) days, the expense Lessor's acceptance of such lay-up to be for Charterer’s account for the first ninety (90) days, and thereafter for the Rent on account of Owner Participant, at prevailing local commercial rates, provided that such lay-up may be at delay or repair does not constitute a Gulf Coast port designated by Charterer, subject renewal of the term of the related Equipment Schedule or a waiver of Lessor's right to prompt return of the other requirements of this Article 13(a)Equipment in proper condition.

Redelivery. (a) Subject to the rights of Charterer under Articles 10(a), 10(h) and the rights and obligations of Charterer under Article 16 hereof, on or before the last day of the Charter Period (but in no event prior to the expiration of the Term), unless If an Event of Loss has occurred or this Demise Charter has been terminated pursuant Default occurs with respect to Article 15(ba Schedule and Lessee is required to return the Equipment described on such Schedule to Lessor, Lessee shall return such Equipment to Lessor free and clear of all Liens whatsoever, to such place(s) or wiithin the use of any Vessel has been requisitioned and such requisition is continuing continental United States as Lessor shall specify. Lessee shall provide, at the end of the Charter Periodits expense, Charterer shall effect Redelivery of the Vessels to Shipowner at safe and suitably equipped berths at Tampa, Florida, or such other safe berths and safe port suitable transit insurance for the Vessels redelivery period in an amount equal to the replacement value of such Equipment and Lessor shall be named as the loss payee on all such policies of insurance. Lessee shall cause: (1) the Gulf Coast Supplier’s representative or other qualified person acceptable to Lessor (the “Designated Person”) to de-install such Equipment in accordance with the Supplier’s specifications (as applicable) and pack such Equipment properly and in accordance with the Supplier’s recommendations (as applicable); and (2) such Equipment to be transported in a manner consistent with the Supplier’s recommendations and practices (as applicable). Upon return, such Equipment shall be: (i) in the same condition as when delivered to Lessee under the related Schedule, ordinary wear and tear excepted; (ii) mechanically and structurally sound, capable of performing the United States designated by Shipownerfunctions for which such Equipment was originally designed, in accordance with the Supplier’s published and recommended specifications (as applicable); (iii) redelivered with all component parts in good operating condition (and all components must meet or exceed the Supplier’s minimum recommended specifications, unless otherwise agreed by Shipowner Lessor in writing); and Charterer(iv) cleaned and cosmetically acceptable, in class and all rust, corrosion or other contamination having been removed or properly treated, and in such condition so that it may be immediately installed and placed in service by a third party. Upon delivery, such Equipment shall be in compliance with all applicable Federal, state and local laws, and health and safety guidelines. Lessee shall be responsible for the order cost of all repairs, alterations, inspections, appraisals, storage charges, insurance costs, demonstration costs and condition required by other related costs necessary to cause such Equipment to be in full compliance with the terms of Article 4this Lease. (b) If requested by Lessor, except for ordinary wear Lessee shall also deliver all related records and tear not affecting classother data to Lessor, with no required surveys including all records of maintenance, modifications, additions and major repairs, computerized maintenance history, and any maintenance and repair manuals (collectively, the “Records”). All manuals or inspections which other documents delivered to Lessor that are due or overdue and with no outstanding recommendations or requirements on the Vessels (nor subject to any damage or other condition which, if known periodic revision will be fully up-to-date and current to the Classification Society latest revision standard of any particular manual or USCG, would result in such a recommendation or requirement) and with all required certificates in effect. Charterer shall give written notice to Shipowner of the expected time and port of Redelivery at least sixty (60) days prior to Redelivery. At the request of Shipowner a mutually agreed upon surveyor shall be appointed for the purpose of determining and confirming in writing the condition of the Vessels at the time of Redeliverydocument. In the event that any such Records are missing or incomplete, Lessor shall have the Charterer right to cause the same to be reconstructed at Lessee’s expense. (c) In addition to Lessor’s other rights and remedies hereunder, if such Equipment and the Shipowner related Records are unable to agree on not returned in a surveyor, the Charterer shall recommend a list of three (3) internationally recognized surveyors and the Shipowner shall choose one (1) surveyor from such list, who shall then act as the surveyor in connection with Redelivery. Charterer shall bear all survey expenses and other costs, if any, including the cost of docking and undocking, if required, as well as all repair costs incurred, in connection with such Redelivery. Shipowner may require that Charterer lay up any Vessel at the time of Redelivery for a period of up to two hundred seventy (270) days, the expense of such lay-up to be for Charterer’s account for the first ninety (90) days, and thereafter for the account of Owner Participant, at prevailing local commercial rates, provided that such lay-up may be at a Gulf Coast port designated by Charterer, subject to the other requirements of this Article 13(a).timely

Redelivery. Upon the expiration or earlier termination of the Term with respect to each Item of Equipment (unless Obligor has exercised its transfer option with respect thereto pursuant to Sections 25.2 or 25.4 hereof or a third party sale thereof acceptable to Corporate Obligee is consummated on the Termination Date with respect thereto pursuant to Section 25.3 hereof), Obligor will, at its expense, dismantle, surrender and deliver possession of each Item of Equipment to Corporate Obligee at the Redelivery Location with a certificate executed by a Responsible Officer of Obligor certifying that the Item of Equipment is in the condition required hereunder, a copy of an inventory list for each Item, proof of payment by Obligor to the Person from whom Obligor acquired such Item of Equipment in the form of a canceled check or wire transfer confirmation, all then current plans, specifications and operating, maintenance, and repair manuals and logs relating to each Item that have been prepared or received by Obligor, and with respect to any Item of Equipment which qualifies for or is subject to any manufacturer’s maintenance, repair or warranty policy, a statement or certificate that has been signed by an authorized representative of the manufacturer attesting to such condition. At the time of such return to Corporate Obligee, each Item of Equipment (and each part or component thereof) shall (a) Subject meet the original design specifications and operating standards of such Item, (b) be in as good operating condition, state of repair and appearance as when delivered to Obligor hereunder, ordinary wear and tear excepted, and in the rights condition required by Section 11 hereof, (c) have no missing or damaged components such that its value, utility or remaining useful life will be reduced, (d) comply with all laws and rules referred to in Section 11 hereof, (e) have attached or affixed thereto any addition, modification or improvement considered an accession thereto as provided in Section 12 hereof and (f) have had removed therefrom in a workmanlike manner, (i) any addition, modification or improvement which, as provided in Section 12 hereof, is owned by Obligor, and (ii) any insignia or marking permitted pursuant to Section 13 hereof, and (g) be free and clear of Charterer under Articles 10(aall Liens, other than a Lien granted or placed thereon by Corporate Obligee, Lender, or any Assignee pursuant to Section 14.2 hereof. With respect to any Item of Equipment which has an hour meter or similar device affixed to or relating to such Equipment, Obligor must provide evidence of the total operating hours on such Item at redelivery, as evidenced by such meter or similar device. The total operating hours for each such Item of Equipment in excess of 3000 hours per year shall be billed to Obligor at a rate set by Corporate Obligee (which rate shall be reasonable in all the circumstances). All operating licenses and agreements pertinent to operation of each Item of Equipment, whether or not included in the original Agreement (other than non-transferable licenses to use software), 10(h) and the rights and obligations that are capable of Charterer under Article 16 hereofbeing transferred, on or before the last day of the Charter Period (but in no event prior to shall be fully transferable upon the expiration of the Term), unless an Event of Loss has occurred Term to Corporate Obligee or this Demise Charter has been terminated pursuant to Article 15(b) its designee. Obligor shall transfer any such transferable license or the use of any Vessel has been requisitioned and such requisition is continuing at the end agreement upon return of the Charter PeriodItem of Equipment at Obligor’s cost and expense. Each Item of Equipment that qualifies for or is subject to any manufacturer’s maintenance, Charterer repair or warranty policy must be properly deinstalled in a manner consistent with such policy and in such a way that the Item remains eligible for or subject to such policy, as appropriate, and Obligor shall effect Redelivery provide or shall cause a representative of the Vessels manufacturer of such Item a certificate certifying that each Item of Equipment was deinstalled in a manner consistent with such policy and remains eligible for or subject to Shipowner at safe such policy, as appropriate. Upon deinstallation each Item of Equipment shall be secured properly for air or overland transport. Each Item of Equipment originally delivered to Obligor, secured for shock proof and suitably equipped berths at Tampaminimum vibration travel or delivered via air ride van shall be redelivered in a similar manner, Florida, and each other Item of Equipment shall be delivered in the manner in which it was delivered to Obligor or such other safe berths and safe port suitable manner as is customary for such Item of Equipment. Obligor shall pay for any repairs necessary to restore any Item of Equipment to the Vessels on the Gulf Coast of the United States designated by Shipowner, unless otherwise agreed by Shipowner and Charterer, in class and in the order and condition required by the terms of Article 4, except for this Section 6.1. The term “ordinary wear and tear tear” as used herein shall not affecting classbe construed as permitting any material broken,damaged or missing items or components of any Item of Equipment. Upon redelivery, with no required surveys or inspections which are due or overdue and with no outstanding recommendations or requirements on the Vessels (nor subject to Obligor shall provide any damage or other condition whichadditional documentation reasonably requested by Corporate Obligee, if known at Corporate Obligee’s cost, relating to the Classification Society redelivery of or USCG, would result Corporate Obligee’s interest in such a recommendation or requirement) and with all required certificates in effect. Charterer shall give written notice to Shipowner each Item of the expected time and port of Redelivery at least sixty (60) days prior to Redelivery. At the request of Shipowner a mutually agreed upon surveyor shall be appointed for the purpose of determining and confirming in writing the condition of the Vessels at the time of Redelivery. In the event that the Charterer and the Shipowner are unable to agree on a surveyor, the Charterer shall recommend a list of three (3) internationally recognized surveyors and the Shipowner shall choose one (1) surveyor from such list, who shall then act as the surveyor in connection with Redelivery. Charterer shall bear all survey expenses and other costs, if any, including the cost of docking and undocking, if required, as well as all repair costs incurred, in connection with such Redelivery. Shipowner may require that Charterer lay up any Vessel at the time of Redelivery for a period of up to two hundred seventy (270) days, the expense of such lay-up to be for Charterer’s account for the first ninety (90) days, and thereafter for the account of Owner Participant, at prevailing local commercial rates, provided that such lay-up may be at a Gulf Coast port designated by Charterer, subject to the other requirements of this Article 13(a)Equipment.

Redelivery. Upon the expiration or earlier termination of the term of any Equipment Schedule (or of any renewal thereof, if applicable), Lessee shall, unless Lessee has paid the Stipulated Loss Value and other amounts with respect thereto pursuant to Section 12 hereof or has exercised its option to purchase pursuant to Section 18(b) hereof and fully satisfied its obligations thereunder, at its own expense, return the Equipment to Lessor within ten (10) days (a) Subject to the rights of Charterer under Articles 10(a), 10(h) and the rights and obligations of Charterer under Article 16 hereof, on or before the last day of the Charter Period (but in no event prior to the expiration of the Term), unless an Event of Loss has occurred or this Demise Charter has been terminated pursuant to Article 15(b) or the use of any Vessel has been requisitioned and such requisition is continuing at the end of the Charter Period, Charterer shall effect Redelivery of the Vessels to Shipowner at safe and suitably equipped berths at Tampa, Florida, or such other safe berths and safe port suitable for the Vessels on the Gulf Coast of the United States designated by Shipowner, unless otherwise agreed by Shipowner and Charterer, in class and in the order and same condition required by the terms of Article 4as when delivered to Lessee hereunder, except for ordinary wear and tear resulting from proper use thereof excepted, (b) in such operating condition as is capable of performing its originally intended use, (c) having been used, operated, serviced and repaired in accordance with, and otherwise complying with, Section 7 hereof, and (d) free and clear of all Liens whatsoever except Liens resulting from claims against Lessor not affecting class, with no required surveys or inspections which are due or overdue relating to the ownership of such Equipment. Lessee shall return the Equipment by delivering it to such place within the Continental United States as Lessor shall specify. In addition to Lessor's other rights and with no outstanding recommendations or requirements on the Vessels (nor subject to any damage or other condition whichremedies hereunder, if known the Equipment is not returned in a timely fashion, or if repairs are necessary to place any items of Equipment in the Classification Society or USCGcondition required in this Section, would result in Lessee shall continue to pay to Lessor per diem rent at the last prevailing lease rate under the applicable Equipment Schedule with respect to such a recommendation or requirementEKG:179726.1:3/24/98: 7:54 AM EQUIPMENT LEASE AGREEMENT SYNTHETIC LEASE (08/00) and with all required certificates in effect. Charterer shall give written notice to Shipowner items of the expected time and port of Redelivery at least sixty (60) days prior to Redelivery. At the request of Shipowner a mutually agreed upon surveyor shall be appointed Equipment, for the purpose period of determining and confirming delay in writing redelivery, or for the condition period of the Vessels at the time of Redelivery. In the event that the Charterer and the Shipowner are unable reasonably necessary to agree on a surveyor, the Charterer shall recommend a list of three (3) internationally recognized surveyors and the Shipowner shall choose one (1) surveyor from accomplish such list, who shall then act as the surveyor in connection repairs together with Redelivery. Charterer shall bear all survey expenses and other costs, if any, including the cost of docking and undocking, if requiredsuch repairs, as well as all repair costs incurred, in connection with such Redeliveryapplicable. Shipowner may require that Charterer lay up any Vessel at the time of Redelivery for a period of up to two hundred seventy (270) days, the expense Lessor's acceptance of such lay-up to be for Charterer’s account for the first ninety (90) days, and thereafter for the rent on account of Owner Participant, at prevailing local commercial rates, provided that such lay-up may be at delay or repair does not constitute a Gulf Coast port designated by Charterer, subject renewal of the term of the related Equipment Schedule or a waiver of Lessor's right to prompt return of the other requirements of this Article 13(a)Equipment in proper condition.

Redelivery. Upon the expiration or earlier termination of the Term with respect to each Item of Equipment (unless Obligor has exercised its transfer option with respect thereto pursuant to Sections 25.2 or 25.4 hereof or a third party sale thereof acceptable to Corporate Obligee is consummated on the Termination Date with respect thereto pursuant to Section 25.3 hereof), Obligor will, at its expense, dismantle, surrender and deliver possession of each Item of Equipment to Corporate Obligee at the Redelivery Location with a certificate executed by a Responsible Officer of Obligor certifying that the Item of Equipment is in the condition required hereunder, a copy of an inventory list for each Item, proof of payment by Obligor to the Person from whom Obligor acquired such Item of Equipment in the form of a canceled check or wire transfer confirmation, all then current plans, specifications and operating, maintenance, and repair manuals and logs relating to each Item that have been prepared or received by Obligor, and with respect to any Item of Equipment which qualifies for or is subject to any manufacturer’s maintenance, repair or warranty policy, a statement or certificate that has been signed by an authorized representative of the manufacturer attesting to such condition. At the time of such return to Corporate Obligee, each Item of Equipment (and each part or component thereof) shall (a) Subject meet the original design specifications and operating standards of such Item, (b) be in as good operating condition, state of repair and appearance as when delivered to Obligor hereunder, ordinary wear and tear excepted, and in the rights condition required by Section 11 hereof, (c) have no missing or damaged components such that its value, utility or remaining useful life will be reduced, (d) comply (without any reference to materiality) with all laws and rules referred to in Section 11 hereof, (e) have attached or affixed thereto any addition, modification or improvement considered an accession thereto as provided in Section 12 hereof and (f) have had removed therefrom in a workmanlike manner, (i) at Obligor’s option, any addition, modification or improvement which, as provided in Section 12 hereof, is owned by Obligor, and (ii) any insignia or marking permitted pursuant to Section 13 hereof, and (g) be free and clear of Charterer under Articles 10(aall Liens, other than a Lien granted or placed thereon by Corporate Obligee, Lender, or any Assignee pursuant to Section 14.2 hereof. With respect to any Item of Equipment which has an hour meter or similar device affixed to or relating to such Equipment, Obligor must provide evidence of the total operating hours on such Item at redelivery, as evidenced by such meter or similar device. The total operating hours for each such Item of Equipment in excess of 3000 hours per year shall be billed to Obligor at a rate set by Corporate Obligee (which rate shall be reasonable in all the circumstances). All operating licenses and agreements pertinent to operation of each Item of Equipment, whether or not included in the original Agreement (other than non­­-transferable licenses to use software), 10(h) and the rights and obligations that are capable of Charterer under Article 16 hereofbeing transferred, on or before the last day of the Charter Period (but in no event prior to shall be fully transferable upon the expiration of the Term), unless an Event of Loss has occurred Term to Corporate Obligee or this Demise Charter has been terminated pursuant to Article 15(b) its designee. Obligor shall transfer any such transferable license or the use of any Vessel has been requisitioned and such requisition is continuing at the end agreement upon return of the Charter PeriodItem of Equipment at Obligor’s cost and expense. Each Item of Equipment that qualifies for or is subject to any manufacturer’s maintenance, Charterer repair or warranty policy must be properly deinstalled in a manner consistent with such policy and in such a way that the Item remains eligible for or subject to such policy, as appropriate, and Obligor shall effect Redelivery provide or shall cause a representative of the Vessels manufacturer of such Item a certificate certifying that each Item of Equipment was deinstalled in a manner consistent with such policy and remains eligible for or subject to Shipowner at safe such policy, as appropriate. Upon deinstallation each Item of Equipment shall be secured properly for air or overland transport. Each Item of Equipment originally delivered to Obligor, secured for shock proof and suitably equipped berths at Tampaminimum vibration travel or delivered via air ride van shall be redelivered in a similar manner, Florida, and each other Item of Equipment shall be delivered in the manner in which it was delivered to Obligor or such other safe berths and safe port suitable manner as is customary for such Item of Equipment. Obligor shall pay for any repairs necessary to restore any Item of Equipment to the Vessels on the Gulf Coast of the United States designated by Shipowner, unless otherwise agreed by Shipowner and Charterer, in class and in the order and condition required by the terms of Article 4, except for this Section 6.1. The term “ordinary wear and tear tear” as used herein shall not affecting classbe construed as permitting any material broken, with no required surveys damaged or inspections which are due missing items or overdue and with no outstanding recommendations or requirements on the Vessels (nor subject to components of any damage or other condition whichItem of Equipment. Upon redelivery, if known Obligor shall provide any additional documentation reasonably requested by Corporate Obligee, at Corporate Obligee’s cost, relating to the Classification Society redelivery of or USCG, would result Corporate Obligee’s interest in such a recommendation or requirement) and with all required certificates in effect. Charterer shall give written notice to Shipowner each Item of the expected time and port of Redelivery at least sixty (60) days prior to Redelivery. At the request of Shipowner a mutually agreed upon surveyor shall be appointed for the purpose of determining and confirming in writing the condition of the Vessels at the time of Redelivery. In the event that the Charterer and the Shipowner are unable to agree on a surveyor, the Charterer shall recommend a list of three (3) internationally recognized surveyors and the Shipowner shall choose one (1) surveyor from such list, who shall then act as the surveyor in connection with Redelivery. Charterer shall bear all survey expenses and other costs, if any, including the cost of docking and undocking, if required, as well as all repair costs incurred, in connection with such Redelivery. Shipowner may require that Charterer lay up any Vessel at the time of Redelivery for a period of up to two hundred seventy (270) days, the expense of such lay-up to be for Charterer’s account for the first ninety (90) days, and thereafter for the account of Owner Participant, at prevailing local commercial rates, provided that such lay-up may be at a Gulf Coast port designated by Charterer, subject to the other requirements of this Article 13(a)Equipment.