Common use of USE OF THE VESSEL Clause in Contracts

USE OF THE VESSEL. The Charterer shall have the full use of the Vessel and may, subject to the terms and conditions of this Charter, employ the Vessel as a semisubmersible drilling unit throughout the world consistent with its design capability, except that the Vessel shall not be used contrary to and shall comply with (a) all applicable laws or regulations of any governmental authority, treaties or conventions (including, but not limited to, all environmental, health and safety laws) and (b) the terms or policies of any insurance then required hereunder; and provided that, with respect to the use or possession of the Vessel outside of the territorial waters and/or the Outer Continental Shelf of the United States, the Charterer shall give such indemnities suitable to the Owner in an amount and form, and obtain and continue such additional insurance coverage, in such amounts, having such terms and conditions and with such carriers, as the Owner may reasonably require at any time or from time to time in connection with the use or possession of the Vessel in any given area outside the territorial waters and/or the Outer Continental Shelf of the United States. The Charterer, in respect of the Vessel, shall at all times comply with all applicable laws and regulations (including, but not limited to, all environmental, health and safety laws), and with the applicable provisions and conditions of all licenses, permits, consents and approvals of any governmental authority.