Common use of TRADING LIMIT Clause in Contracts

TRADING LIMIT. The VESSEL shall work as a drilling vessel in relation to oil and gas exploration offshore Thailand and or any other areas to be mutually agreed by SUK and SIL in writing. SIL specifically undertakes that the VESSEL will not be used in violation of her existing document or register, or in violation of the existing classification or load line regulations applicable to the VESSEL, or in violation of any laws or regulations of any governmental entity having jurisdiction over the VESSEL. Classification certificates and surveys as required by applicable law and regulations shall be maintained by SIL. The VESSEL shall not, without the prior written consent of SUK be brought into a war zone or into an operating area where threats of war or war like operations can put the VESSEL at extra risk, and SIL shall take out satisfactory insurance against such extra risk at SIL’s expense.