Common use of Structural Modifications Clause in Contracts

Structural Modifications. During the Charter Period, Charterer shall not make any substantial structural changes or alterations in any Vessel without the prior written consent of Shipowner, which consent shall not be unreasonably withheld or delayed. For purposes of this Article 6(a), “substantial structural changes or alterations” means any change or alteration which costs more than the Value Threshold for such Vessel and shall not include any steel renewal in respect of any Vessel.

Structural Modifications. During the Charter PeriodTerm, Charterer shall will not make any substantial structural changes or alterations in any Vessel without the prior written consent of Shipowner, which consent shall not be unreasonably withheld or delayed. For purposes of this Article 6(a), “substantial structural changes or alterations” means any change or alteration which costs more than the Value Threshold for such Vessel $1,000,000 and shall not include any steel renewal in respect of any Vessel.