Common use of The Charter Clause in Contracts

The Charter. Pursuant to a time charterparty in relation to the Vessel dated 1 July 2004 made between, originally, the Charterer and Teekay Nakilat Corporation, as novated to Teekay Nakilat (II) Limited under a novation agreement dated [18 January 2006] between [the Charterer, Teekay Nakilat Corporation and Teekay Nakilat (II) Limited], as amended and restated by an amendment and restatement agreement dated 21 March 2012 and subsequently novated to the Guarantor under the novation, amendment and restatement agreement dated [ — ] and made between the Guarantor, Teekay Nakilat (II) Limited and the Charterer (the “Novation Agreement”) (such charter as novated, amended and restated by the Novation Agreement, the “Charter’), the Charterer has agreed to charter the Vessel from the Guarantor for an initial period of about twenty (20) years (subject to termination rights) from delivery thereunder.

The Charter. Pursuant to a time charterparty in relation to the Vessel dated 1 July 2004 made between, originally, the Charterer and Teekay Nakilat Corporation, as novated to Teekay Nakilat (II) Limited under a novation agreement dated [18 January 2006] between [the Charterer, Teekay Nakilat Corporation and Teekay Nakilat (II) Limited], as amended and restated by an amendment and restatement agreement dated 21 March 2012 and subsequently novated to the Guarantor under the novation, amendment and restatement agreement dated [ — — ] and made between the Guarantor, Teekay Nakilat (II) Limited and the Charterer (the “Novation Agreement”) (such charter as novated, amended and restated by the Novation Agreement, the “Charter’), the Charterer has agreed to charter the Vessel from the Guarantor for an initial period of about twenty (20) years (subject to termination rights) from delivery thereunder.