| (i) |
Village Seven Co., Ltd., a company incorporated and registered under the laws of Japan with registered address at 6-21,
Konan 3-chome, Minato-ku, Tokyo, Japan, as owners with 99.99% ownership;
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| (ii) |
V7 Fune Inc., a company incorporated and registered under the laws of Panama with registered address at BICSA Financial
Center, 60th Floor, Balboa Avenue, Panama City, Republic of Panama with 0.99% ownership (together with Village Seven Co., Ltd., the “Owners”); and
|
| (iii) |
Lord Ocean Navigation Co., a limited company with registered address at 80 Broad Street, Monrovia as charterers (the “Charterers").
|
| (A) |
The Parties have entered into a bareboat charterparty agreement dated April 24th, 2023 (hereinafter as the same may from time to time be amended,
supplemented, novated or replaced, the "Charter"), whereby the Owners have agreed to let the vessel "LORDSHIP" IMO no. 9519066, (the "Vessel") on charter to
the Charterers on the terms set out therein.
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| (B) |
Following the new EU Commission Implementing Regulation (EU) 2023/2599, which imposes the responsibilities in relation to compliance with the Emission Scheme (as defined below) on the registered owners of each vessel responsible for
compliance with the EU Emission Scheme, the Parties agree to enter into this Amendment and incorporate and include in the Charter the additional clause stipulated herein.
|
| 1 |
AMENDMENTS TO THE CHARTER
|
| (i) |
Subject to any mandatory provisions of any applicable Emissions Scheme and the corresponding national or international laws and regulations, the Charterers shall exercise their best endeavours to take all
necessary actions to procure that they or the Vessel’s ISM Company shall be the sole responsible party for compliance of all Emission Scheme obligations in relation to the Vessel, provided this is feasible and legally permissible,
pursuant to any domestic or international law or regulation, directed to the Owners as registered or beneficial owners of the Vessel.
|
| (ii) |
Notwithstanding sub-paragraph (i) above, the Charterers shall be permitted to sub-delegate such Emission Scheme responsibility on to any entity, including without limitation to the relevant holder of
Document of Compliance/ISM Company under the ISM Code in respect of the Vessel. Such sub-delegation shall be documented in accordance with the requirements imposed by the relevant Emissions Scheme and copy of such documentation shall be
provided by or made available to the Owners, as may be applicable, including but not limited to any written mandate requested by the competent authorities.
|
| (iii) |
The Charterers and the Owners shall co-operate and assist each other to deliver all such forms as are required to be filed to any relevant authorities in relation to the delegation and assumption of any
Emission Scheme responsibilities within reasonable time and always in accordance with any deadlines set by the competent authority and the applicable laws and regulations.
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| (iv) |
Without limiting the foregoing, throughout the Charter Period, the Charterers, or any mandated entity, shall arrange for providing and paying for or otherwise surrendering the Emission Allowances
corresponding to the Vessel’s emissions under the scope of the applicable Emission Scheme and surrender those Emissions Allowances (relating to the period of the Charter) within the timeframes established by the applicable Emissions
Scheme.
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| (v) |
Emission Allowances, taxes, charges, levies, fees, fines, costs or expenses incurred or imposed in connection with any Emissions Scheme, shall be for the Charterers' account and are to be settled directly
by them or their mandated entity (subject always to any mandatory provisions of the applicable Emissions Scheme or relevant laws or regulations).
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| (vi) |
The Charterers shall use their best endeavours to ensure that the Charterers, or any mandated, as above, entity shall comply, sign, acknowledge in writing in any form that may be reasonably required, and
provide all such information and documents to the Owners as necessary to enable the Owners and any Emission Scheme obligor to document and evidence to any authority their delegation/mandating of all Emission Scheme obligations in relation
to the Vessel (and the assumption of same by the relevant mandated entity), as may be required from time to time during the Charter Period by the Owners, any manager or other mandated entity, and any relevant Emission Scheme authority, in
conformity with the provisions of this Clause. In relation to the Emission Scheme being the European Union Emissions Trading System, the Owners and the Charterers or the Vessel’s ISM Company, or any mandated by the Charterers entity,
shall complete and sign a mandate form in form and substance as required (from time to time) by the competent administering authority and/or EU Commission Implementing Regulation (EU) 2023/2599, the Directive 2003/87/EC, currently and
indicatively in form as appended hereto (see Exhibit 1) (the "Mandate Form").The Owners shall also ensure to provide the Charterers with all necessary information, documents or details as above and
as same may be required by any authorities in connection any applicable Emissions Scheme, including but not limited to opening any accounts and/or surrendering any Emissions Allowances, in order to ensure that the Vessel will comply with
any applicable Emissions Scheme laws and regulations
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| (vii) |
The Owners undertake to relay to the Charterers, without delay, any information that might be received by the Owners for any reason whatsoever, including by error of any authority, and which might relate to
compliance with any Emission Scheme.
|
| 2 |
NO FURTHER AMENDMENTS
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| 3 |
COSTS
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| 4 |
GOVERNING LAW AND JURISDICTION
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5
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CONFLICT
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|
Village Seven Co., Ltd.
as Owners (with 99.9% ownership)
|
Lord Ocean Navigation Co.
as Charterers
|
|
|
/s/ Mamoru Nanamura
|
/s/ Stavros Gyftakis
|
|
|
By: Mamoru Nanamura
Title: Representative
|
By: Stavros Gyftakis
Title: Director
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|
V7 Fune Inc.,
as Owners (with 0.01% ownership)
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|
/s/ Mamoru Nanamura
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|
By: Mamoru Nanamura
Title: Director/President
|