Substitute performance of Mortgage. To the extent that, pursuant to the Charter or this Deed, the Charterer duly performs and discharges (or procures the performance and discharge of) the duties and liabilities undertaking by the Owner in the Mortgage, then such performance and discharge of the said duties and liabilities by the Charterer shall, to that extent, be deemed to be proper and due performance and discharge of the Owner's duties and liabilities under the Mortgage.
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Sources: Second Priority Quadripartite Deed (Top Tankers Inc.), Second Priority Quadripartite Deed (Top Tankers Inc.)
Substitute performance of Mortgage. To the extent that, pursuant to the Charter or this Deed, the Charterer duly performs and discharges (or procures the performance and discharge of) the duties and liabilities undertaking by the Owner in the Mortgage, then such performance and discharge of the said duties and liabilities by the Charterer shall, to that extent, be deemed to be proper and due performance and discharge of the Owner's Owners duties and liabilities under the Mortgage.
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