Document:

Exhibit 10.12 

   

  CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND
      REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF DISCLOSED.

   

  

  

  	MEMORANDUM OF AGREEMENT	Norwegian Shipbrokers’ Association’s
	 	Memorandum of Agreement for sale and
	 	purchase of ships. Adopted by BIMCO in
            1956.
	 	Code-name
	 	SALEFORM 2012
	 	Revised
            1966, 1983 and 1986/87, 1993 and 2012

  

  

   

   

  
    	 
	
	

    

    

     

  

  
    

    	 	 	 	 
	Dated: 17 December 2019	1
	Golar Hull M2023 Corp.(Name of sellers) (a company incorporated under the laws of The Republic of	2
	The Marshall Islands with registration number 46820), hereinafter called the “Sellers”,
              have agreed to sell, and	 
	Oriental Fleet LNG 02 Limited (Name of buyers)(a company incorporated under the laws of the	3
	Republic of the Marshall Islands with registration number 103074), hereinafter called the
              “Buyers”, have agreed to buy:	 
	Name of vessel: m.v. “Golar Penguin”	4
	IMO Number: 9624938	5
	Classification Society: DNV GL	6
	Class Notation:  X1A1 Tanker for liquefied gas BIS Clean COAT-PSPC(B) COMF(C-3, V-2) CSA(2) E0 Gas	7
	fueled NAUT(OC) NAUTICUS(Newbuilding) Recyclable TMON	 
	Year of Build: 2014 Builder/Yard: Samsung Heavy Industries	8
	Flag: The Republic of The Marshall Islands      Place of Registration: Majuro      GT/NT: 102100 tons/30631	9
	tons	 	 
	hereinafter called the “Vessel”, on the following terms and conditions:	10
	Definitions (See also Clause 26 (Further definitions)	11
	“Banking Days” are days (other than a Saturday or Sunday) on which banks are open both in the country of the currency stipulated
              for	12
	the Purchase Price in Clause 1 (Purchase Price) and in the place of closing stipulated in Clause 8	13
	(DocumentationConditions precedent) and Hong Kong, London, New York, Oslo and Shanghai (add	14
	additional jurisdictions as appropriate).	 
	“Buyers’ Nominated Flag State” means The Republic of The Marshall Islands (state flag state).	15
	“Class” means the class notation referred to above.	16
	“Classification Society” means the Society referred to above.	17
	“Deposit” shall have the meaning given in Clause 2 (Deposit)	18
	“Deposit Holder” means ______ (state

                    name and location of Deposit Holder) or, if left blank, the	19
	Sellers’ Bank, which shall hold and release the Deposit in accordance with this Agreement.	20
	“In writing” or “written” means a letter handed over from the Sellers to the Buyers or vice versa, a	21
	registered letter, e-mail or telefax.	22
	“Parties” means the Sellers and the Buyers and “Party” means either one (1) of them.	23
	“Purchase Price” means the price for the Vessel as stated in Clause 1 (Purchase Price).	24
	”Sellers’ Account” means such account in the name of the Sellers (state details of bank account) at

              the	25
	Sellers’ Bank notified by the Sellers to the Buyers in writing at least five (5) Banking Days prior to the	 
	Delivery Date (as defined in Additional Clause 26 (Further definitions)).	 
	“Sellers’ Bank” means such bank (state name of bank, branch and details) or, if left blank, the bank	27
	notified by the Sellers to the Buyers for receipt of the balance of the Purchase Price.	27
	1.	Purchase Price	28
	 	The Purchase Price is the lower of (a) [***] US Dollars	29
	 	(US$[***]) and (b) the Fair Market Value (as defined in Additional Clause 26 (Futher	 
	 	definitions)) (state currency and amount both in words and figures).	 
	2.	Deposit	30
	 	As security for the correct fulfilment of this Agreement the Buyers shall lodge a deposit
                of	31
	 	______% (______per cent)
                  or, if left blank, 10% (ten per cent), of the Purchase Price (the	32
	 	“Deposit”) in an interest bearing account for the Parties with the Deposit Holder within
                three (3)	33
	 	Banking Days after the date that:	34

  

  

   

  

  This document is a computer generated SALEFORM 2012 form printed by authority of the Norwegian
      Shipbrokers’ Association. Any insertion or deletion to the form must be clearly visible. In the event of any modification made to the pre-printed text of this document which is not clearly visible, the text of the original approved document shall
      apply. BIMCO and the Norwegian Shipbrokers’ Association assume no responsibility for any loss, damage or expense as a result of discrepancies between the original approved document and this computer generated document.

   

  
     

    
      
 

  

   

  0
  	 	 	 	 
	 	(i)	this Agreement has been signed by the Parties and exchanged in original or by	35
	 	 	e mail or telefax; and	36
	 	(ii)	the Deposit Holder has confirmed in writing to the Parties that the account has been	37
	 	 	opened.	38
	 	 	 	 
	 	The Deposit shall be released in accordance with joint written instructions of the Parties.	39
	 	Interest, if any, shall be credited to the Buyers. Any fee charged for holding and releasing
              the	40
	 	Deposit shall be borne equally by the Parties. The Parties shall provide to the Deposit
              Holder	41
	 	all necessary documentation to open and maintain the account without delay.	42
	 	 	 
	3.	Payment	43
	 	On delivery of the Vessel, but not later than three (3) Banking Days after the date that
              Notice of	44
	 	Readiness has been given in accordance with Clause 5 (Time and place of delivery and	45
	 	notices):	 	46
	 	 	 	 
	 	(i)	the Deposit shall be released to the Sellers; and	47
	 	(ii)	the balance of the Purchase Price and all other sums payable on delivery by the Buyers	48
	 	 	to the Sellers under this Agreement shall be paid in full free of bank charges to the	49
	 	 	Sellers’ Account.	50
	 	 	 
	4.	Inspection	51
	 	(a)* The Buyers have inspected and accepted the Vessel’s
              classification records. The Buyers	52
	 	have also inspected the Vessel at/in ______ (state place) on
            ______ (state date) and have	53
	 	accepted the Vessel following this inspection and the sale is outright and definite, subject
              only	54
	 	to the terms and conditions of this Agreement.	55
	 	 	 
	 	(b)* The Buyers shall have the right to inspect the Vessel’s
              classification records and declare	56
	 	whether same are accepted or not within ______ (state
                date/period).	57
	 	 	 
	 	The Sellers shall make the Vessel available for inspection at/in ______ (state

                place/range) within	58
	 	______(state date/period).	59
	 	 	 
	 	The Buyers shall undertake the inspection without undue delay to the Vessel. Should the	60
	 	Buyers cause undue delay they shall compensate the Sellers for the losses thereby incurred.	61
	 	 	 
	 	The Buyers shall inspect the Vessel without opening up and without cost to the Sellers.	62
	 	 	 
	 	During the inspection, the Vessel’s deck and engine log books shall be made available for	63
	 	examination by the Buyers.	64
	 	 	 
	 	The sale shall become outright and definite, subject only to the terms and conditions of this	65
	 	Agreement, provided that the Sellers receive written notice of acceptance of the Vessel from	66
	 	the Buyers within seventy two (72) hours after completion of such inspection or after the	67
	 	date/last day of the period stated in Line 59, whichever is earlier.	68
	 	 	 
	 	Should the Buyers fail to undertake the inspection as scheduled and/or notice of acceptance
              of	69
	 	the Vessel’s classification records and/or of the Vessel not be received by the Sellers as	70
	 	aforesaid, the Deposit together with interest earned, if any, shall be released immediately
              to the	71
	 	Buyers, whereafter this Agreement shall be null and void.	72
	 	 	 
	 	*4(a) and 4(b) are alternatives; delete whichever is not applicable. In
                the absence of deletions,	73
	 	alternative 4(a) shall apply.	74
	 	 	 
	5.	Time and place of delivery and notices	75
	 	(a) The Vessel shall be delivered and taken over safely afloat at a safe and accessible berth or	76
	 	anchorage at/in or at sea within Trading Limits (as defined
              in Additional Clause 26 (Further	77
	 	definitions)) (state place/range) in the Sellers’
            option.	 
	 	Notice of Readiness shall not be tendered before: ______(date)	78
	 	 	 
	 	Cancelling Date (see Clauses 5(c), 6 (a)(i)6 (a) (iii) and14):
            the Cancelling Date (as defined in	79
	 	Additional Clause 26 (Further definitions)), or such later date as the Buyers and the Sellers may	 
	 	agree.	 
	 	(b) The Sellers shall keep the Buyers well informed of the Vessel’s itinerary and shall	80
	 	provide the Buyers with twenty (20), ten (10), five (5) and
            three (3) days’ notice of the date the	81
	 	Sellers intend to tender Notice of Readiness and of the intended date and place of delivery.	82
	 	 	 
	 	When the Vessel is at the place of delivery and physically ready for delivery in accordance
              with	83
	 	this Agreement, the Sellers shall give the Buyers a written Notice of Readiness for delivery.	84
	 	 	 
	 	(c) If the Sellers anticipate that, notwithstanding the exercise of due diligence by them, the	85
	 	Vessel will not be ready for delivery by the Cancelling Date they may notify the Buyers in writing	86
	 	stating the date when they anticipate that the Vessel will be ready for delivery and proposing a	87
	 	new Cancelling Date. Upon receipt of such notification the Buyers shall have the option of	88
	 	either cancelling this Agreement in accordance with Clause 14 (Sellers’ Defaultdefault) within three (3)	89
	 	Banking Days of receipt of the notice or of accepting the new date as the new Cancelling Date.	90
	 	If the Buyers have not declared their option within three (3) Banking Days of receipt of the	91
	 	Sellers’ notification or if the Buyers accept the new date, the date proposed in the Sellers’	92
	 	notification shall be deemed to be the new Cancelling Date and shall be substituted for the	93
	 	Cancelling Date stipulated in line 79.	94

   

  This document is a computer generated SALEFORM 2012 form printed by authority of the Norwegian
      Shipbrokers’ Association. Any insertion or deletion to the form must be clearly visible. In the event of any modification made to the pre-printed text of this document which is not clearly visible, the text of the original approved document shall
      apply. BIMCO and the Norwegian Shipbrokers’ Association assume no responsibility for any loss, damage or expense as a result of discrepancies between the original approved document and this computer generated document.

   

  
     

    
      
 

  

   

  	 	If this Agreement is maintained with the new Cancelling Date all other terms and conditions	95
	 	hereof including those contained in Clauses 5(b) and 5(d) shall remain unaltered and in full	96
	 	force and effect.	97
	 	 	 
	 	(d) Cancellation, failure to cancel or acceptance of the new Cancelling Date shall be entirely	98
	 	without prejudice to any claim for damages the Buyers may have under Clause 14
            (Sellers’	99
	 	Defaultdefault) for the Vessel not being ready by the original Cancelling Date.	100
	 	 	 
	 	(e) Should the Vessel become an actual, constructive or compromised total loss before delivery	101
	 	the Deposit together with interest earned, if any, shall be released immediately to the
              Buyers	102
	 	whereafter this Agreement shall be null and void.	103
	 	 	 
	6.	Divers Inspection / Drydocking	104
	 	(a)*	 	105
	 	(i)	The Buyers shall have the option at their cost and expense to arrange for an underwater	106
	 	 	inspection by a diver approved by the Classification Society prior to the delivery of the	107
	 	 	Vessel. Such option shall be declared latest nine (9) days prior to the Vessel’s intended	108
	 	 	date of readiness for delivery as notified by the Sellers pursuant to Clause 5(b) of this	109
	 	 	Agreement. The Sellers shall at their cost and expense make the Vessel available for	110
	 	 	such inspection. This inspection shall be carried out without undue delay and in the	111
	 	 	presence of a Classification Society surveyor arranged or by the Sellers and paid for by	112
	 	 	the Buyers. The Buyers’ representative(s) shall have the right to be present at the diver’s	113
	 	 	inspection as observer(s) only without interfering with the work or decisions of the	114
	 	 	Classification society surveyor the extent of the inspection and the conditions under	115
	 	 	which it is performed shall be to the satisfaction of the Classification society. If the	116
	 	 	conditions at the place of delivery are unsuitable for such inspection, the Sellers shall at	117
	 	 	their cost and expense make the Vessel available at a suitable alternative place near to	118
	 	 	the delivery port, in which event the Cancelling Date shall be extended by the additional	119
	 	 	time required for such positioning and the subsequent re-positioning. The Sellers may	120
	 	 	not tender Notice of Readiness prior to completion of the underwater inspection.	121
	 	 	 
	 	(ii)	If the rudder, propeller, bottom or other underwater parts below the deepest load line are	122
	 	 	found broken, damaged or defective so as to affect the Vessel’s class, then (1) unless	123
	 	 	repairs can be carried out afloat to the satisfaction of the Classification society, the	124
	 	 	Sellers shall arrange for the Vessel to be drydocked at their expense for inspection by	125
	 	 	the Classification Society of the Vessel’s underwater parts below the deepest load line,	126
	 	 	the extent of the inspection being in accordance with the Classification Society’s rules (2)	127
	 	 	such defects shall be made good by the Sellers at their cost and expense to the	128
	 	 	satisfaction of the Classification society without condition/recommendation** and (3) the	129
	 	 	Sellers shall pay for the underwater inspection and the Classification Society’s	130
	 	 	attendance.	131
	 	 	 
	 	 	Notwithstanding anything to the contrary in this Agreement, if the Classification Society	132
	 	 	do not require the aforementioned defects to be rectified before the next class	133
	 	 	drydocking survey, the Sellers shall be entitled to deliver the Vessel with these defects	134
	 	 	against a deduction from the Purchase Price of the estimated direct cost (of labour and	135
	 	 	materials) of carrying out the repairs to the satisfaction of the Classification Society,	136
	 	 	whereafter the Buyers shall have no further rights whatsoever in respect of the defects	137
	 	 	and/or repairs. The estimated direct cost of the repairs shall be the average of quotes	138
	 	 	for the repair work obtained from two reputable independent shipyards at or in the	139
	 	 	vicinity of the port of delivery, one to be obtained by each of the Parties within two (2)	140
	 	 	Banking Days from the date of the imposition of the condition/recommendation, unless	141
	 	 	the Parties agree otherwise. Should either of the Parties fail to obtain such a quote within	142
	 	 	the stipulated time then the quote duly obtained by the other Party shall be the sole basis	143
	 	 	for the estimate of the direct repair costs. The Sellers may not tender Notice of	144
	 	 	Readiness prior to such estimate having been established.	145
	 	(iii)	If the Vessel is to be drydocked pursuant to Clause 6(a)(ii) and no suitable dry docking	146
	 	 	facilities are available at the port of delivery, the Sellers shall take the Vessel to a port	147
	 	 	where suitable drydocking facilities are available, whether within or outside the delivery	148
	 	 	range as per Clause 5(a). Once drydocking has taken place the Sellers shall deliver the	149
	 	 	Vessel at a port within the delivery range as per Clause 5(a) which shall, for the purpose	150
	 	 	of this Clause, become the new port of delivery. In such event the Cancelling Date shall	151
	 	 	be extended by the additional time required for the drydocking and extra steaming, but	152
	 	 	limited to a maximum of fourteen (14) days.	153

   

  This document is a computer generated SALEFORM 2012 form printed by authority of the Norwegian
      Shipbrokers’ Association. Any insertion or deletion to the form must be clearly visible. In the event of any modification made to the pre-printed text of this document which is not clearly visible, the text of the original approved document shall
      apply. BIMCO and the Norwegian Shipbrokers’ Association assume no responsibility for any loss, damage or expense as a result of discrepancies between the original approved document and this computer generated document.

   

  
     

    
      
 

  

   

  	 	(b)* The Sellers shall place the Vessel in drydock at the port of
              delivery for inspection by the	154
	 	Classification Society of the Vessel’s underwater parts below the deepest load line, the
              extent	155
	 	of the inspection being in accordance with the Classification Society’s rules. If the rudder,	156
	 	propeller, bottom or other underwater parts below the deepest load line are found broken,	157
	 	damaged or defective so as to affect the Vessel’s class, such defects shall be made good at
              the	158
	 	Sellers’ cost and expense to the satisfaction of the Classification Society without	159
	 	condition/recommendation**. In such event the Sellers are also to pay for the costs and	160
	 	expenses in connection with putting the Vessel in and taking her out of drydock, including
              the	161
	 	drydock dues and the Classification Society’s fees. The Sellers shall also pay for these
              costs	162
	 	and expenses if parts of the tailshaft system are condemned or found defective or broken so
              as	163
	 	to affect the Vessel’s class. In all other cases, the Buyers shall pay the aforesaid costs
              and	164
	 	expenses, dues and fees.	165
	 	 	 
	 	(c) If the Vessel is drydocked pursuant to Clause 6 (a)(ii)
              or 6 (b) above:	166
	 	 	 
	 	(i)	The Classification Society may require survey of the tailshaft system, the extent of the	167
	 	 	survey being to the satisfaction of the Classification surveyor. If such survey is	168
	 	 	not required by the Classification Society, the Buyers shall have the option to require the	169
	 	 	tailshaft to be drawn and surveyed by the Classification Society, the extent of the survey	170
	 	 	being in accordance with the Classification Society’s rules for tailshaft survey and	171
	 	 	consistent with the current stage of the Vessel’s survey cycle. The Buyers shall declare	172
	 	 	whether they require the tailshaft to be drawn and surveyed not later than by the	173
	 	 	completion of the inspection by the Classification Society. The drawing and refitting of	174
	 	 	the tailshaft shall be arranged by the Sellers. Should any parts of the tailshaft system be	175
	 	 	condemned or found defective so as to affect the Vessel’s class, those parts shall be	176
	 	 	renewed or made good at the Sellers’ cost and expense to the satisfaction of	177
	 	 	Classification Society without condition/recommendation**.	178
	 	 	 
	 	(ii)	The costs and expenses relating to the survey of the tailshaft system shall be borne by	179
	 	 	the Buyers unless the Classification society requires such survey to be carried out or if	180
	 	 	parts of the system are condemned or found defective or broken so as to affect the	181
	 	 	Vessel’s class, in which case the Sellers shall pay these costs and expenses.	182
	 	 	 
	 	(iii)	The Buyers’ representative(s) shall have the right to be present in the drydock, as	183
	 	 	observer(s) only without interfering with the work or decisions of the Classification	184
	 	 	Society surveyor.	185
	 	 	 
	 	(iv)	The Buyers shall have the right to have the underwater parts of the Vessel cleaned	186
	 	 	and painted at their risk, cost and expense without interfering with the Sellers’ or the	187
	 	 	Classification Society surveyor’s work, if any, and without affecting the Vessel’s timely	188
	 	 	delivery. If, however, the Buyers’ work in drydock is still in progress when the	189
	 	 	Sellers have completed the work which the Sellers are required to do, the additional	190
	 	 	docking time needed to complete the Buyers’ work shall be for the Buyers’ risk, cost and	191
	 	 	expense. In the event that the Buyers’ work requires such additional time, the Sellers	192
	 	 	may upon completion of the Sellers’ work tender Notice of Readiness for delivery whilst	193
	 	 	the Vessel is still in drydock and, notwithstanding Clause 5(a), the Buyers shall be	194
	 	 	obliged to take delivery in accordance with Clause 3 (Payment), whether the Vessel is in	195
	 	 	drydock or not.	196
	 	 	 
	 	*6 (a) and 6 (b) are alternatives; delete whichever is not applicable. In the absence of
                deletions,	197
	 	alternative 6 (a) shall apply.	198
	 	 	 
	 	**Notes or memoranda, if any, in the surveyor’s report which are accepted by the
                Classification	199
	 	Society without condition/recommendation are not to be taken into account.	200
	 	 	 
	7.	Spares, bunkers and other items	201
	 	The Sellers shall deliver the Vessel to the Buyers with everything belonging to her on board	202
	 	and on shore. All spare parts and spare equipment including spare tail-end shaft(s) and/or	203
	 	spare propeller(s)/propeller blade(s), if any, belonging to the Vessel at the time of inspection
            delivery	204
	 	used or unused, whether on board or not shall become the Buyers’ property without
                extra payment,	205
	 	but spares on	 
	 	order are excluded. Forwarding charges, if any, shall be for the Buyers’ account. The Sellers	206
	 	are not required to replace spare parts including spare tail-end shaft(s) and spare	207
	 	propeller(s)/propeller blade(s) which are taken out of spare and used as replacement prior to	208
	 	delivery, but the replaced items shall be the property of the Buyers without extra
                payment. Unused	209
	 	stores and	 
	 	provisions shall be included in the sale and be taken over by the Buyers without extra payment.	210

   

  This document is a computer generated SALEFORM 2012 form printed by authority of the Norwegian
      Shipbrokers’ Association. Any insertion or deletion to the form must be clearly visible. In the event of any modification made to the pre-printed text of this document which is not clearly visible, the text of the original approved document shall
      apply. BIMCO and the Norwegian Shipbrokers’ Association assume no responsibility for any loss, damage or expense as a result of discrepancies between the original approved document and this computer generated document.

   

  
     

    
      
 

  

   

  	 	Library and forms exclusively for use in the Sellers’ vessel(s) and captain’s, officers’ and
              crew’s	211
	 	personal belongings including the slop chest are excluded from the sale without compensation,	212
	 	as well as the following additional items: ______(include list)	213
	 	 	 
	 	Items on board which are on hire or owned by third parties, listed as follows, are excluded
              from	214
	 	the sale without compensation: ______(include list)	215
	 	 	 
	 	Items on board at the time of inspection which are on hire or owned by third parties, not
              listed	216
	 	above, shall be replaced or procured by the Sellers prior to delivery at their cost and
              expense.	217
	 	 	 
	 	Any remaining and unused bunkers, lubricating and hydraulic oils and greases in storage tanks	 
	 	and unopened drums shall remain the property of the Sellers in their capacity as bareboat	 
	 	charterers under the Bareboat Charter and therefore the Buyers shall not be required to pay for	 
	 	such items.	 
	 	 	 
	 	The Buyers shall take over remaining bunkers and unused lubricating and hydraulic oils and	218
	 	greases in storage tanks and unopened drums and pay either:	219
	 	 	 
	 	(a) *the actual net price (excluding barging expenses) as evidenced
              by invoices or vouchers; or	220
	 	 	 
	 	(b) *the current net market price (excluding barging expenses) at
              the port and date of delivery	221
	 	of the Vessel or, if unavailable, at the nearest bunkering port,	222
	 	 	 
	 	for the quantities taken over.	223
	 	 	 
	 	Payment under this Clause shall be made at the same time and place and in the same	224
	 	currency as the Purchase Price.	225
	 	 	 
	 	“inspection” in this Clause 7, shall mean the Buyers’ inspection according to Clause 4(a) or
              4(b)	226
	 	(Inspection), if applicable. If the Vessel is taken over without inspection, the date of this	227
	 	Agreement shall be the relevant date.	228
	 	 	 
	 	*(a) and (b) are alternatives, delete whichever is not applicable. In the absence of
                deletions	229
	 	alternative (a) shall apply.	230
	 	 	 
	8.	DocumentationConditions precedent	231
	 	The place of closing: Hong Kong	232
	 	 	 
	 	(a) In exchange for payment Release of the Purchase Price is conditional upon the Sellers shall	233
	 	provide providing the Buyers with the	 
	 	following delivery documents and evidence:	234
	 	 	 
	 	(i)	Two (2) original Legal
            Bill(s) of Sale in a form recordable in the Buyers’ Nominated Flag State,	235
	 	 	transferring title of the Vessel and stating that the Vessel is free from all mortgages,	236
	 	 	encumbrances and maritime liens or any other debts whatsoever, duly notarially attested	237
	 	 	and legalised or apostilled, as required by the Buyers’ Nominated Flag State;	238
	 	 	 
	 	(ii)	Evidence that all necessary corporate, shareholder and other action has been taken by	239
	 	 	the Sellers to authorise the execution, delivery and performance of this Agreement;	240
	 	 	 
	 	(iii)	Original Power of
            Attorney of the Sellers appointing one or more representatives to act on	241
	 	behalf	 
	 	 	of the Sellers in the performance of this Agreement, duly notarially attested and legalised	242
	 	 	or apostilled (as appropriate);	243
	 	 	 	 
	 	(iv)	A Certificate

              or Transcript of Registry issued by the competent authorities of the flag state	244
	 	 	on the date of deliveryDelivery Date
            evidencing the Sellers’ ownership of the Vessel and that	245
	 	 	the	 
	 	 	Vessel is free from registered encumbrances and mortgages, to be faxed or e-mailed by	246
	 	 	such authority to the closing meeting with the original to be sent to the Buyers as soon as	247
	 	 	possible after delivery of the Vessel;	248
	 	 	 	 
	 	(v)	A copy of Declaration of
            Class or (depending on the Classification Society) a Class	249
	 	Maintenance	 
	 	 	Certificate issued within three (3) Banking Days prior to deliverythe Delivery Date confirming	250
	 	 	that the	 
	 	 	Vessel is in Class free of overdue condition/recommendation;	251

   

  This document is a computer generated SALEFORM 2012 form printed by authority of the Norwegian
      Shipbrokers’ Association. Any insertion or deletion to the form must be clearly visible. In the event of any modification made to the pre-printed text of this document which is not clearly visible, the text of the original approved document shall
      apply. BIMCO and the Norwegian Shipbrokers’ Association assume no responsibility for any loss, damage or expense as a result of discrepancies between the original approved document and this computer generated document.

   

  
     

    
      
 

  

   

  	 	(vi)	Certificate of Deletion of the Vessel from the Vessel’s registry or other official evidence
              of	252
	 	 	deletion appropriate to the Vessel’s registry at the time of delivery, or, in the event that	253
	 	 	the registry does not as a matter of practice issue such documentation immediately, a	254
	 	 	written undertaking by the Sellers to effect deletion from the Vessel’s registry forthwith	255
	 	 	and provide a certificate or other official evidence of deletion to the Buyers promptly and	256
	 	 	latest within four (4) weeks after the Purchase Price has been paid and the Vessel has	257
	 	 	been delivered;	258
	 	 	 	 
	 	(vii)	A copy of the Vessel’s Continuous Synopsis Record certifying the date on which the	259
	 	 	Vessel ceased to be registered with the Vessel’s registry, or, in the event that the registry	260
	 	 	does not as a matter of practice issue such certificate immediately, a written undertaking	261
	 	 	from the Sellers to provide the copy of this certificate promptly upon it being issued	262
	 	 	together with evidence of submission by the Sellers of a duly executed Form 2 stating	263
	 	 	the date on which the Vessel shall cease to be registered with the Vessel’s registry;	264
	 	 	 	 
	 	(viviii)	An original Commercial
            Invoice for the Vessel;	265
	 	 	 	 
	 	(ix)	Commercial Invoice(s) for bunkers, lubricating and hydraulic oils and greases;	266
	 	 	 	 
	 	(x)	A copy of the Sellers’ letter to their satellite communication provider cancelling the	267
	 	 	Vessel’s communications contract which is to be sent immediately after delivery of the	268
	 	 	Vessel;	269
	 	 	 	 
	 	(viixi)	Any additional documents as may reasonably be required by the competent authorities of	270
	 	 	the Buyers’ Nominated Flag State for the purpose of registering the Vessel, provided the	271
	 	 	Buyers notify the Sellers of any such documents as soon as possible after the date of	272
	 	 	this Agreement ; and	273
	 	 	 	 
	 	(viiixii)	An original of Tthe Sellers’ letter of
            confirmation that to the best of their knowledge, the	274
	 	 	Vessel is not	 
	 	 	black listed by any nation or international organisation;.	275
	 	 	 	 
	 	(ix)               

            	Evidence that the Existing Mortgage (as defined in Additional Clause 26 (Further definitions)) has been irrevocably and
              unconditionally released and discharged and all records or registration thereof have been removed from the Flag State’s (as defined in Additional Clause 26 (Further definitions)) records; 

        	 
	 	 	 
	 	(x)

            	Evidence that the Sellers (as charterers) have paid the Handling Fee (as defined in the Bareboat Charter in accordance with the
              terms of the Bareboat Charter; 

        	 
	 	 	 
	 	(xi)

            	Copies of two (2) Valuation Reports prepared and issued in accordance with Additional Clause 20 (Determination of Fair Market
              Value); 

        	 
	 	 	 
	 	(xii)

            	An original certificate from a director / officer of the Sellers confirming that all copies of documents provided under this
              Agreement are true copies of such documents; 

        	 
	 	 	 
	 	(xiii) 

        	The duly executed and dated effective date confirmation pursuant to the Related Charter Addendum; 

        	 
	 	 	 
	 	(xiv)

            	The Buyers being satisfied that, in their opinion, (A) the conditions precedent set out in Clause 36 (Conditions precedent) of
              the Bareboat Charter have been satisfied on the Delivery Date, (B) no Termination Event (as defined in the Bareboat Charter) or Potential Termination Event (as defined in the Bareboat Charter) is continuing or would result from the proposed
              pre- positioning of the Purchase Price, and (C) the representations and warranties referred to in Clause 19 (Sellers’ representations) hereof and clause 48 (Charterers’ representations and warranties) of the Bareboat Charter are true and
              correct on the date of this Agreement and the Delivery Date. 

        	 
	 	 	 
	 	The conditions set out in this Clause 8(a) are for the sole benefit of the Buyers and may be
              waived or deferred by the Buyers in whole or in part and with or without conditions. The foregoing is without prejudice to the Buyers’ rights to require fulfilment of any such conditions by the Sellers in whole or in part at any time after
              the date of release of the Purchase Price.	 
	 	 	 
	 	(b) At the time of delivery the Buyers shall provide the Sellers
              with:	276
	 	 	 
	 	(i)	Evidence that all necessary corporate, shareholder and other action has been taken by	277
	 	 	the Buyers to authorise the execution, delivery and performance of this Agreement; and	278

   

  This document is a computer generated SALEFORM 2012 form printed by authority of the Norwegian
      Shipbrokers’ Association. Any insertion or deletion to the form must be clearly visible. In the event of any modification made to the pre-printed text of this document which is not clearly visible, the text of the original approved document shall
      apply. BIMCO and the Norwegian Shipbrokers’ Association assume no responsibility for any loss, damage or expense as a result of discrepancies between the original approved document and this computer generated document.

   

  
     

    
      
 

  

   

  	 	 	 	 
	 	(ii)	Power of Attorney of the Buyers appointing one or more representatives to act on behalf	279
	 	 	of the Buyers in the performance of this Agreement, duly notarially attested and legalised	280
	 	or apostilled (as appropriate).	281
	 	 	 
	 	(cb) If any of the
            documents listed in Sub-clauses (a) and (b) above are not in the English	282
	 	language they shall be accompanied by an English translation by an authorised translator or	283
	 	certified by a lawyer qualified to practice in the country of the translated language.	284
	 	 	 
	 	(dc) The Parties
            shall to the extent possible exchange copies, drafts or samples of the	285
	 	documents listed in Sub-clause (a) and Sub-clause (b) above for review and comment by the	286
	 	other party not later than ______ (state number of days), or if left
                blank, nine (9) days prior to the	287
	 	Vessel’s intended date of readiness for delivery as notified by
            the Sellers pursuant to	288
	 	Clause 5(b) of

            this Agreement.	289
	 	 	 
	 	(ed) Concurrent with
            the exchange of documents in Sub-clause (a) and Sub-clause (b) above,	290
	 	the Sellers shall also hand to the Buyers shall gain title and ownership to the classification	291
	 	certificate(s) as well as all plans,	 
	 	drawings and manuals, (excluding ISM/ISPS manuals), which are
            on board the Vessel and shall	292
	 	remain on board the Vessel. Other	 
	 	certificates which are on board the Vessel shall also be handed over to the Buyers unless such	293
	 	certificates are required to remain on board, or	 
	 	the Sellers are required to retain same in their capacity as bareboat charterers,
            in which case the	294
	 	Buyers have the right toSellers shall, upon the request of the Buyers, take provide copies of the	 
	 	same at their expense.	 
	 	 	 
	 	(f) Other technical documentation which may be in the Sellers’
              possession shall promptly after	295
	 	delivery be forwarded to the Buyers at their expense, if they so request. The Sellers may
              keep	296
	 	the Vessel’s log books but the Buyers have the right to take copies of same.	297
	 	 	 
	 	(eg) Simultaneously with the release of the Purchase Price, Tthe Parties shall sign and deliver to	298
	 	each other a Protocol of Delivery and Acceptance	 
	 	confirming the date and time of delivery of the Vessel from the Sellers to the Buyers.	299
	 	 	 
	 	(f) Within one (1) Banking Day after the Delivery Date, the Sellers shall provide the Buyers
              with a Certificate of Registry and a Certificate of Ownership and Encumbrances, both dated the Delivery Date and issued by the International Registries, Inc. of the Republic of the Marshall Islands (evidencing that the Buyers are the owners
              of the Vessel and (in case of the certificate of Ownership and Encumbrances) that the Vessel is free from registered encumbrances and mortgages).	 
	 	 	 
	9.	Encumbrances	300
	 	The Sellers warrant that the Vessel, at the time of delivery, is free from all charters (other

                than the	301
	 	Bareboat Charter and/or any other charters disclosed to, and approved by, the Buyers (as	 
	 	owners under the Bareboat Charter),	 
	 	encumbrances, mortgages and maritime liens or any other debts whatsoever, and is not subject	302
	 	to Port State or other administrative detentions. The Sellers hereby undertake to indemnify the	303
	 	Buyers against all consequences of claims made against the Vessel which have been incurred	304
	 	prior to the time of delivery.	305
	 	 	 
	10.	Taxes, fees and expenses	306
	 	Any taxesTaxes, fees
            and expenses in connection with the purchase and registration in the Buyers’	307
	 	Nominated Flag State shall be for the Buyers’ Sellers’ account, whereasand similar charges in	308
	 	connection	 
	 	with the closing of the Sellers’ register shall be for the Sellers’ account.	309
	 	 	 
	11.	Condition on delivery	310
	 	See also Additional Clause 21 (Delivery under Bareboat Charter)	 
	 	The Vessel with everything belonging to her shall be at the Sellers’ risk and expense until she is	311
	 	delivered to the Buyers, but subject to the terms and conditions of this Agreement she shall be	312
	 	delivered and taken over “as is where
                is” she was at the time of deliveryinspection, fair wear and tear	313
	 	excepted.	 
	 	However, the Vessel shall be delivered free of cargo and free of stowaways with her Class	314
	 	maintained without overdue condition/recommendation*, free of average
            damage affecting the Vessel’s	315
	 	class, and with her classification certificates and national certificates, as well as all other	316
	 	certificates the Vessel had at the time of inspectiondelivery, valid and unextended without	317
	 	condition/recommendation* by the Classification Society or the relevant authorities at the time	318
	 	of delivery.	319
	 	 	 
	 	“inspection” in this Clause 11, shall mean the Buyers’ inspection according to Clause 4(a) or	320
	 	4(b) (Inspections), if applicable. If the Vessel is taken over without inspection, the date
              of this	321
	 	Agreement shall be the relevant date.	322

   

  This document is a computer generated SALEFORM 2012 form printed by authority of the Norwegian
      Shipbrokers’ Association. Any insertion or deletion to the form must be clearly visible. In the event of any modification made to the pre-printed text of this document which is not clearly visible, the text of the original approved document shall
      apply. BIMCO and the Norwegian Shipbrokers’ Association assume no responsibility for any loss, damage or expense as a result of discrepancies between the original approved document and this computer generated document.

   

  
     

    
      
 

  

   

  	 	*Notes and memoranda, if any, in the surveyor’s report which are accepted by the Classification	323
	 	Society without condition/recommendation are not to be taken into account.	324
	 	 	 
	12.	Name/markings	325
	 	Upon delivery the Buyers undertake to change the name of the Vessel and alter funnel	326
	 	markings.	327
	 	 	 	 
	13.	Buyers’ default	328
	 	Should the Deposit not be lodged in accordance with Clause 2 (Deposit), the Sellers
              have the	329
	 	right to cancel this Agreement, and they shall be entitled to claim compensation for their
              losses	330
	 	and for all expenses incurred together with interest.	331
	 	 	 
	 	Should the Purchase Price not be paid pre-positioned in accordance with Clause 322 (Payment), the	332
	 	Sellers	 
	 	have the right to, unless pre-positioning is made within five (5) Banking Days of the
                original	333
	 	Prepositioning Date, cancel this Agreement, in which case the Deposit together with interest	 
	 	earned, if any, shall be released to the Sellers. If the Deposit does not cover their loss, and the	334
	 	Sellers shall be entitled to claim further compensation for
            their losses and for all expenses	335
	 	incurred together with interest.	336
	 	 	 
	14.	Sellers’ default	337
	 	Should the Sellers fail to give Notice of Readiness in accordance with Clause

                  5(b) or fail to be	338
	 	ready to validly complete a legal transfer by the Cancelling Date the Buyers shall have the	339
	 	option of cancelling this Agreement. If after Notice of Readiness has been
                given but before	340
	 	the Buyers have taken delivery, the Vessel ceases to be physically ready for delivery and is
              not	341
	 	made physically ready again by the Cancelling Date and new Notice of Readiness given, the	342
	 	Buyers shall retain their option to cancel. In the event that the Buyers elect to cancel this	343
	 	Agreement, the Deposit together with interest earned, if any, shall be released to them	344
	 	immediately.	345
	 	 	 
	 	Should the Sellers fail to give Notice of Readiness by the Cancelling Date or
                fail to be ready to	346
	 	validly complete a legal transfer as aforesaid they shall make due compensation to the Buyers	347
	 	for their loss and for all expenses together with interest if their failure is due to proven	348
	 	negligence and whether or not the Buyers cancel this Agreement.	349
	 	 	 
	15.	Buyers’ representatives	350
	 	After this Agreement has been signed by the Parties and the Deposit has been lodged, the	351
	 	Buyers have the right to place two (2) representatives on board the Vessel at their sole risk
              and	352
	 	expense.	353
	 	 	 
	 	These representatives are on board for the purpose of familiarisation and in the capacity of	354
	 	observers only, and they shall not interfere in any respect with the operation of the Vessel.
              The	355
	 	Buyers and the Buyers’ representatives shall sign the Sellers’ P&I Club’s standard letter
              of	356
	 	indemnity prior to their embarkation.	357
	 	 	 
	16.	Law and Arbitrationarbitration	358
	 	See Additional Clause 25 (Law and arbitration)	 
	 	(a) *This Agreement hall be governed by and construed in accordance
              with English law and	359
	 	any dispute arising out of or in connection with this Agreement shall be referred to
              arbitration in	360
	 	London in accordance with the Arbitration Act 1996 or any statutory modification or re-	361
	 	enactment thereof save to the extent necessary to give effect to the provisions of this
              Clause.	362
	 	The arbitration shall be conducted in accordance with the London Maritime Arbitrators	363
	 	Association (LMAA) Terms current at the time when the arbitration proceedings are	364
	 	commenced.	365
	 	 	 
	 	The reference shall be to three arbitrators. A party wishing to refer a dispute to
              arbitration shall	366
	 	appoint its arbitrator and send notice of such appointment in writing to the other party
              requiring	367
	 	the other party to appoint its own arbitrator within fourteen (14) calendar days of that
              notice and	368
	 	stating that it will appoint its arbitrator as sole arbitrator unless the other party
              appoints its own	369
	 	arbitrator and gives notice that it has done so within the fourteen (14) days specified. If
              the	370
	 	other party does not appoint its own arbitrator and give notice that it has done so within
              the	371
	 	fourteen (14) days specified, the party referring a dispute to arbitration may, without the	372
	 	requirement of any further prior notice to the other party, appoint its arbitrator as sole
              arbitrator	373
	 	and shall advise the other party accordingly. The award of a sole arbitrator shall be binding
              on	374
	 	both Parties as if the sole arbitrator had been appointed by agreement.	375
	 	 	 
	 	In cases where neither the claim nor any counterclaim exceeds the sum of US$100,000 the	376
	 	arbitration shall be conducted in accordance with the LMAA Small Claims Procedure current at	377
	 	the time when the arbitration proceedings are commenced.	378
	 	 	 
	 	(b) *This Agreement shall be governed by and construed in accordance
              with Title 9 of the	379
	 	United States Code and the substantive law (not including the choice of law rules) of the
              State	380
	 	of New York and any dispute arising out of or in connection with this Agreement shall be	381
	 	referred to three (3) persons at New York, one to be appointed by each of the parties hereto,	382
	 	and the third by the two so chosen; their decision or that of any two of them shall be final,
              and	383
	 	for the purposes of enforcing any award, judgment may be entered on an award by any court of	384
	 	competent jurisdiction. The proceedings shall be conducted in accordance with the rules of
              the	385
	 	Society of Maritime Arbitrators, Inc.	386

   

  This document is a computer generated SALEFORM 2012 form printed by authority of the Norwegian
      Shipbrokers’ Association. Any insertion or deletion to the form must be clearly visible. In the event of any modification made to the pre-printed text of this document which is not clearly visible, the text of the original approved document shall
      apply. BIMCO and the Norwegian Shipbrokers’ Association assume no responsibility for any loss, damage or expense as a result of discrepancies between the original approved document and this computer generated document.

   

  
     

    
      
 

  

   

  	 	In cases where neither the claim nor any counterclaim exceeds the sum of US$100,000 the	387
	 	arbitration shall be conducted in accordance with the Shortened Arbitration Procedure of the	388
	 	Society of Maritime Arbitrators, Inc.	389
	 	 	 
	 	(c) This Agreement shall be governed by and construed in accordance with the
              laws of ______	390
	 	(state place) and any dispute arising out of or in connection with this Agreement shall be	391
	 	referred to arbitration at ______ (state place), subject to the procedures applicable
              there.	392
	 	 	 
	 	*16(a), 16(b) and 16(c) are alternatives; delete whichever is not applicable. In the absence of	393
	 	deletions, alternative 16(a) shall apply.	394

   

  

  	17.	Notices	395
	 	All notices to be provided under this Agreement shall be in writing.	396
	 	 	 
	 	Contact details for recipients of notices are as follows:	397
	 	 	 
	 	For the Buyers: Oriental Fleet LNG 02 Limited	398

  

  	 	Address: c/o Oriental Fleet International Company Limited
	 	  50/F, COSCO Tower, 183 Queen’s Road Central, Hong Kong
	 	Fax no.: +852 2339 1881
	 	Email: lou.can@coscoshipping.com / thomas.xing@ofi.com.hk / asset@coscoshipping.com
	 	Attention: Belinda Lou / Thomas Xing / Xu Ying

   

  	 	For the Sellers: Golar Hull M2023 Corp.	399

  	 	Address:	c/o Golar Power Limited
	 	 	6th Floor, The Zig Zag 
	 	 	70 Victoria Street 
	 	 	London SW1E 6SQ 
	 	 	England
	 	Fax No.:	+44 (0)20 7063 7901
	 	Email:	Eduardo.Maranhao@golar.com/ Rodrigo.Fortes@golar.com
	 	Attention:	Eduardo Maranhao / Rodrigo Fortes
	 	 	 
	 	with a copy to:
	 	 
	 	Golar LNG Limited
	 	 
	 	Address:	6th Floor, The Zig Zag
	 	 	70 Victoria Street
	 	 	London SW1E 6SQ
	 	 	England
	 	Fax No.:	+44 (0)20 7063 7901
	 	Email:	brian.tienzo@golar.com
	 	Attention:	Brian Tienzo

   

  	18.	Entire Agreementagreement	400
	 	The written terms of this Agreement comprise the entire agreement between the Buyers and	401
	 	the Sellers in relation to the sale and purchase of the Vessel and supersede all previous	402
	 	agreements whether oral or written between the Parties in relation thereto.	403
	 	 	 
	 	Each of the Parties acknowledges that in entering into this Agreement it has not relied on and	404
	 	shall have no right or remedy in respect of any statement, representation, assurance or	405
	 	warranty (whether or not made negligently) other than as is expressly set out in this Agreement.	406
	 	 	 
	 	Any terms implied into this Agreement by any applicable statute or law are hereby excluded to	407
	 	the extent that such exclusion can legally be made. Nothing in this Clause shall limit or exclude	408
	 	any liability for fraud.	409

   

  This document is a computer generated SALEFORM 2012 form printed by authority of the Norwegian
      Shipbrokers’ Association. Any insertion or deletion to the form must be clearly visible. In the event of any modification made to the pre-printed text of this document which is not clearly visible, the text of the original approved document shall
      apply. BIMCO and the Norwegian Shipbrokers’ Association assume no responsibility for any loss, damage or expense as a result of discrepancies between the original approved document and this computer generated document.

   

  
     

    
      
 

  

   

  	 	Additional Clauses 19 to 26 (both inclusive) form an integral part of this Agreement. In the event of any
              inconsistency between (i) any terms set out in Clauses 1 to 18 of this Agreement and (ii) any terms set out in the Additional Clauses (i.e. Clauses 19 to 26) to this Agreement, the terms of the Additional Clauses shall prevail.	 
	 	 	 
	 	The parties to this Agreement have executed this Agreement the day and year first before written.	 
	 	 	 
	 	SELLERS

   

  	 	Signed by	)	/s/ Rodrigo Fortes
	 	As	)	RODRIGO FORTES
	 	for and on behalf of	)	ATTORNEY-IN-FACT
	 	GOLAR HULL M2023 CORP.	)	 

   

  

   

  	 	BUYERS	 	 
	 	 	 	 
	 	Signed By

            	)	/s/ Li Bing

          
	 	As	)	LI BING
	 	for and on behalf of	)	DIRECTOR
	 	Oriental Fleet LNG 02 Limited	)	 

   

  	 	For and on behalf of the Sellers	For and on behalf of the Buyers
	 	Name:  __________	Name:  __________
	 	Title:  ___________	Title:  ___________

   

  This document is a computer generated SALEFORM 2012 form printed by authority of the Norwegian
      Shipbrokers’ Association. Any insertion or deletion to the form must be clearly visible. In the event of any modification made to the pre-printed text of this document which is not clearly visible, the text of the original approved document shall
      apply. BIMCO and the Norwegian Shipbrokers’ Association assume no responsibility for any loss, damage or expense as a result of discrepancies between the original approved document and this computer generated document.

   

  
     

    
      
 

  

   

   

  

  Execution version

  ADDITIONAL CLAUSES

   

  TO MEMORANDUM OF AGREEMENT FOR LNG CARRIER “GOLAR PENGUIN”

   

  		19.	Sellers’ representations

   

  The Sellers represent and warrant as at the date hereof and on the Delivery Date
      that:

   

  		(a)	they are the registered legal owners of the Vessel;

   

  		(b)	they are not a Restricted Party;

   

  		(c)	neither themselves nor any of their directors, officers or employees or any
            person acting on their behalf has received notice or are aware of any claim, action, suit, proceeding or investigation against any of them or the Vessel with respect to Sanctions by a Sanctions Authority; and

   

  		(d)	the copies of any document provided or to be provided by the Sellers to the
            Buyers in accordance with Clause 8 (Conditions precedent) are, or will be, true and accurate copies of the originals and represent, or will represent, the full agreement between the parties to those documents in relation to the subject
            matter of those documents, and there are no commissions, rebates, premiums or other payments due or to become due in connection with the subject matter of those documents.

   

  		20.	Determination of Fair Market Value

   

  		(a)	For the purpose of ascertaining the Purchase Price, the Fair Market Value
            shall be determined to be the arithmetic mean of (i) the valuation from the Valuation Report issued by an Approved Valuer appointed by the Sellers and (ii) the valuation from the Valuation Report issued by an Approved Valuer appointed by the
            Buyers. The Sellers shall bear the cost of the issue of such Valuation Reports.

   

  		(b)	Each Valuation Report to be provided for the purpose of paragraph (a) above
            shall:

   

  		(i)	be issued by an Approved Valuer (A) no more than fifteen (15) days before the
            Delivery Date and (B) no fewer than five (5) days before the Delivery Date;

   

  		(ii)	be made without physical inspection of the Vessel and on a desktop,
            charter-free basis; and

   

  		(iii)	on the basis of a sale for prompt delivery for cash at arm’s length on normal
            commercial terms as between a willing seller and a willing buyer.

   

  		(c)	If an Approved Valuer determines that the Fair Market Value shall fall within
            a range, the valuation as determined by such Approved Valuer should be the lower value of such range.

   

  		(d)	Each valuation shall be provided by an Approved Valuer in US Dollars.

   

  		21.	Delivery under bareboat charter

   

  		(a)	Without prejudice to paragraph (b) below, the Buyers shall, immediately after
            the delivery of the Vessel under this Agreement, be obliged to deliver the Vessel to the Sellers (as charterers) pursuant to a bareboat charterparty dated on or about the date of this Agreement in respect of the Vessel (the “Bareboat Charter”)

            made or to be made (as the case may be) between the Buyers (as owners) and the Sellers (as charterers).

   

  

  	OFI/Golar Power – MOA Additional Clauses	Page 1

  

  
     

    
      
 

  

   

  		(b)	The Sellers shall be fully responsible for the Buyers’ fulfillment of physical
            delivery as new owners of the Vessel to the Sellers (as charterers) under the Bareboat Charter. The Buyers’ obligation to take delivery of the Vessel under this Agreement is subject to the Sellers (as charterers) taking delivery of the Vessel
            immediately thereafter under the Bareboat Charter.

   

  		(c)	If the Bareboat Charter is cancelled, terminated or otherwise ceases to be in
            full force and effect prior to the delivery of the Vessel under this Agreement, then this Agreement shall be null and void, provided however that Clause 14 (Sellers’ default) and Clause 24 (Indemnities) below shall
            survive.

   

  		22.	Payment

   

  		(a)	The Sellers and the Buyers agree that the Purchase Price shall be paid by the
            Buyers in the following manner:

   

  		(i)	the Existing Mortgagee’s portion of the Purchase Price (the “Existing
              Mortgagee’s Portion”) in such amount as the Sellers shall notify the Buyers in writing on or before the Notification Date shall, subject to Clause 23 (Set-off of Upfront Hire against Purchase Price) below (if applicable), be paid
            in full by the Buyers to the Existing Mortgagee and be subsequently released to the Existing Mortgagee in accordance with paragraph (b)(i) below; and/or

   

  		(ii)	the Sellers’ portion of the Purchase Price (the “Sellers’ Portion”) in
            an amount equal to the difference between the Purchase Price and the Existing Mortgagee’s Portion shall, subject to Clause 23 (Set-off of Upfront Hire against Purchase Price) below (if applicable), be paid by the Buyers to the Sellers’
            Bank and be subsequently released to the Sellers in accordance with paragraph (b)(ii) below.

   

  		(b)	On or before the Prepositioning Date:

   

  		(i)	if the Buyers have received evidence (in the form of confirmation that an
            MT199 or MT999 message is acceptable to the Existing Mortgagee and the Buyers, acting reasonably) that the Existing Mortgagee’s Portion will be held to the order of the Buyers, and only be released to the Existing Mortgagee upon presentation to
            the Existing Mortgagee of a copy (transmitted by fax, email or otherwise) of the protocol of delivery and acceptance which is duly signed by an authorised signatory of the Buyers and an authorised signatory of the Sellers, evidencing the
            delivery by the Sellers and acceptance by the Buyers of the Vessel under this Agreement, then the Buyers shall deposit with the Existing Mortgagee the Existing Mortgagee’s Portion to be so held and so released, provided that the
            Buyers’ obligation to deposit with the Existing Mortgagee the Existing Mortgagee’s Portion is always subject to the Buyers being satisfied that:

   

  		(1)	all of the conditions precedent required under Clause 8 (Conditions
              precedent) other than the Delivery Date CPs have been satisfied; and

   

  	OFI/Golar Power – MOA Additional Clauses	Page 2

  
     

    
      
 

  

   

  		(2)	the Delivery Date CPs will be satisfied on or before the Delivery Date;

   

  		(ii)	if the Buyers have received evidence (in the form of confirmation that an
            MT199 or MT999 message is acceptable to the Sellers’ Bank and the Buyers, acting reasonably) that the Sellers’ Portion will be held to the order of the Buyers, and only be released to the Sellers upon presentation to the Sellers’ Bank of a copy
            (transmitted by fax, email or otherwise) of the protocol of delivery and acceptance which is duly signed by an authorised signatory of the Buyers and an authorised signatory of the Sellers, evidencing the delivery by the Sellers and acceptance
            by the Buyers of the Vessel under this Agreement, then the Buyers shall deposit with the Sellers’ Bank the Sellers’ Portion to be so held and so released, provided that the Buyers’ obligation to deposit with the Sellers’ Bank the
            Sellers’ Portion is always subject to the Buyers being satisfied that:

   

  		(1)	all of the conditions precedent required under Clause 8 (Conditions
              precedent) other than the Delivery Date CPs have been satisfied; and

   

  		(2)	the Delivery Date CPs will be satisfied on or before the Delivery Date.

   

  		(c)	For the avoidance of doubt:

   

  		(i)	the amount of the Existing Mortgagee’s Portion may be zero;

   

  		(ii)	if the Sellers fail to notify the Buyers of the amount of the Existing
            Mortgagee’s Portion in accordance with paragraph (a)(i) of this Clause 22, the amount of the Existing Mortgagee’s Portion will be deemed zero.

   

  		(d)	If (1) as the Sellers notify the Buyers in accordance with paragraph (a)(i) of
            this Clause 22, the amount of the Existing Mortgagee’s Portion is zero or (2) the amount of the Existing Mortgagee’s Portion is deemed zero pursuant to paragraph (c)(ii) of this Clause 22, then the Sellers’ Portion will equal the Purchase Price
            (subject to Clause 23 (Set-off of Upfront Hire against Purchase Price)) and paragraph (b)(i) of this Clause 22 shall not apply.

   

  		(e)	The Sellers agree to release, discharge, defend, indemnify, waive and hold
            harmless the Buyers from and against any liability, obligation or claim which may be asserted, claimed or recovered against the Buyers for any reason directly arising out of the release or the failure to release (as the case may be) of any part
            of the Purchase Price by the Existing Mortgagee or the Sellers’ Bank except if the same results from or is a direct consequence of the Buyers’ failure to perform their obligations under or in breach of any provisions under this Agreement or the
            Bareboat Charter (including the Buyers’ failure to take delivery of the Vessel by countersigning and timing the protocol of delivery and acceptance in breach of this Agreement). The Buyers agree to provide reasonable assistance and cooperation
            to the Sellers in connection with any mistake or failure to release any part of the Purchase Price as contemplated by this Agreement.

   

  	 	(f)	If for any reason any part of the Purchase Price actually deposited with the
            Existing Mortgagee or the Sellers’ Bank by the Buyers is not released in accordance with paragraph (b)(i) or (b)(ii) above within five (5) days after the Prepositioning Date, the Sellers shall procure the Existing Mortgagee and/or (as the case
            may be) the Sellers’ Bank to return such part of the Purchase Price to the Buyers on the Return Due Date.

   

  	OFI/Golar Power – MOA Additional Clauses	Page 3

  
     

    
      
 

  

   

  		(g)	Without prejudice to any other provisions under this Agreement, the Sellers
            shall pay to the Buyers:

   

  		(i)	on the date any part of the Purchase Price is released in accordance with
            paragraph (b)(i) or (b)(ii) above; and

   

  		(ii)	on demand by the Buyers on and after the Return Due Date in relation to any
            part of the Purchase Price which is or should be returned to the Buyers in accordance with paragraph (f) above (whether or not it is actually returned on the Return Due Date);

   

  each as applicable, an amount equal to the interest accrued over the relevant
      Prepositioning Period and calculated at the rate of six point five per cent. (6.5%) per annum over such part of the Purchase Price.

   

  		23.	Set-off of Upfront Hire against Purchase Price

   

  The Sellers hereby consent, agree, acknowledge and confirm that:

   

  		(a)	notwithstanding Clause 1 (Purchase Price), the amount due and payable from the
            Buyers to the Sellers in accordance with Clause 22 (Payment) shall be set-off against the amount of Upfront Hire due from and payable by the Sellers (as charterers) to the Buyers (as owners) pursuant to the Bareboat Charter; and

   

  		(b)	on the date of payment of the Purchase Price, in accordance with Clause 22
            (Payment), the Upfront Hire shall be set-off against the Purchase Price, upon which the Buyers shall no longer be obliged to pay the Sellers and the Sellers shall not be entitled to receive from the Buyers an amount which is more than the
            difference between (i) the Purchase Price, and (ii) the Upfront Hire.

   

  		24.	Indemnities

   

  		(a)	The Sellers shall pay such amounts to the Buyers in respect of all reasonable
            legal expenses and fees (including but not limited to any vessel registration and tonnage fees) incurred by or imposed on the Buyers arising from this Agreement or in connection with the delivery, registration and purchase of the Vessel by the
            Buyers whether prior to, during or after termination of this Agreement and whether or not the Vessel is in the possession or the control of the Sellers or otherwise in relation to any non-delivery to or acceptance by the Sellers (as charterers)
            of the Vessel under the Bareboat Charter.

   

  		(b)	Notwithstanding anything to the contrary herein, the indemnities provided by
            the Sellers in favour of the Buyers shall continue in full force and effect notwithstanding any breach of the terms of this Agreement or termination of this Agreement pursuant to the terms hereof.

   

  	OFI/Golar Power – MOA Additional Clauses	Page 4

  
     

    
      
 

  

   

  		25.	Law and arbitration

   

  		(a)	This Agreement and any contractual or non-contractual obligations arising from
            or connected with this Agreement shall be governed by, and construed in accordance with, the laws of England.

   

  		(b)	Any dispute, controversy, difference or claim arising out of or relating to
            this Agreement, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved by
            arbitration in Hong Kong administered by the Hong Kong International Arbitration Centre (“HKIAC”) under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted.

   

  		(c)	The seat of arbitration shall be Hong Kong.

   

  		(d)	The number of arbitrators shall be three (3). The arbitration proceedings
            shall be conducted in English.

   

  		(e)	Each Party may appeal on points of law.

   

  		(f)	The law governing this Clause 25 (Law and arbitration) shall be English law.

   

  		26.	Further definitions

   

  In this Agreement:

   

  “Approved Valuer” means each of (a) Arrow Shipbroking, (b) Braemar ACM
      Shipbroking, (c) Clarksons Platou, (d) Fearnleys AS, (e) Howe Robinson, (f) Maersk Broker and any other reputable and independent ship brokers proposed by the Sellers and approved by the Buyers.

   

  “Cancelling Date” means 31 December 2019 (or such other date as the
      Buyers and the Sellers may agree).

   

  “Delivery Date” means the date of delivery of the Vessel by the Sellers
      to the Buyers pursuant to this Agreement.

   

  “Delivery Date CPs” means the conditions precedent set out in paragraphs
      (a)(i), (a)(iv), (a)(vii), (a)(ix), (a)(xiv)(A) and (a)(xiv)(C) of Clause 8 (Conditions precedent).

   

  “Existing Liabilities” means all present and future moneys (including a
      principal amount of up to three hundred and forty five million three hundred and ninety thousand sixty six US Dollars and thirteen cents (US$345,390,066.13)), debts and liabilities due, arising or incurred by (among others) the Sellers to the
      Existing Mortgagee (and any other relevant creditor parties) and which is secured by (among other things) the Existing Mortgage.

   

  “Existing Mortgage” means the first preferred Marshall Islands ship
      mortgage dated 18 September 2014 and granted by the Sellers (as owners) in favour of Swedbank AB (publ) as amended and assigned to the Existing Mortgagee pursuant to the assignment and amendment to first preferred Marshall Islands ship mortgage dated
      18 October 2018 as security for the Existing Liabilities.

   

  “Existing Mortgagee” means Citibank N.A., London Branch.

   

  	OFI/Golar Power – MOA Additional Clauses	Page 5

  
     

    
      
 

  

   

  “Fair Market Value” means the fair market value of the Vessel as
      ascertained in accordance with Clause 20 (Determination of Fair Market Value) above.

   

  “Flag State” means, in relation to the Vessel, the Republic of the
      Marshall Islands.

   

  “Hong Kong” means the Hong Kong Special Administrative Region of the
      People’s Republic of China.

   

  “Notification Date” means the date falling seven (7) calendar days before
      the proposed Delivery Date.

   

  “PRC” means The People’s Republic of China, excluding Hong Kong, the
      Macau Special Administrative Region and Taiwan.

   

  “Prepositioning Date” means date falling one (1) Banking Day prior to the
      proposed Delivery Date.

   

  “Prepositioning Period” means:

   

  		(a)	if any part of the Purchase Price deposited with the Existing Mortgagee or the
            Sellers’ Bank by the Buyers is released in accordance with paragraph (b)(i) or (b)(ii) of Clause 22 (Payment), the period commencing from (and inclusive of) the Prepositioning Date and ending on (and inclusive of) the date such part of
            the Purchase Price is released in accordance with paragraph (b)(i) or (b)(ii) of Clause 22 (Payment); and

   

  		(b)	if any part of the Purchase Price deposited with the Existing Mortgagee or the
            Sellers’ Bank by the Buyers is or should be returned to the Buyers in accordance with paragraph (f) of Clause 22 (Payment) (whether or not it is actually returned on the Return Due Date, the period commencing from (and inclusive of) the
            Prepositioning Date and ending on (and inclusive of) the date such part of the Purchase Price is returned to the Buyers in accordance with paragraph (f) of Clause 22 (Payment ) (whether or not it is actually returned on the Return Due
            Date);

   

  “Restricted Party” means a person or entity that is (a) listed on, or
      owned or controlled by a person listed on, any Sanctions List; (b) a national of, located in, incorporated under the laws of, or owned or (directly or indirectly) controlled by, a person located in or organised under the laws of a country or
      territory that is the target of country-wide or territory-wide Sanctions; or (c) otherwise a target of Sanctions (“target of Sanctions” signifying a person with whom a US person or other national of Sanctions Authority would be prohibited or
      restricted by law from engaging in trade, business or other activities).

   

  “Related Charter Addendum” means the supplemental agreement (to be
      entered into on or around the date of this Agreement) to (inter alia) the bareboat charter in relation to the 160,000 m3 LNG carrier named “Golar Crystal” with IMO number 9624926 dated 6 March 2017 and entered into between Oriental Fleet LNG 01
      Limited 东方富利LNG01有限公司 (as owners) and Golar Hull M2022 Corp. (as charterers).

   

  “Return Due Date” means the date which is the sixth (6th) day (if it is a Banking Day) after the Prepositioning Date or the Banking Day immediately after such six (6th) day (if such sixth (6th) day is not a Banking Day).

   

  “Sanctions” means the economic sanction laws, regulations, embargoes or
      restrictive measures administered, enacted or enforced by: (a) the United States government; (b) the United Nations; (c) the European Union and its member states; (d) the United Kingdom; or (e) the respective governmental institutions and agencies of
      any of the foregoing, including, without limitation, the Office of Foreign Assets Control of the US Department of Treasury (“OFAC”), the United States Department of State and Her Majesty’s Treasury (“HMT”); (together, the “Sanctions
        Authorities”).

   

  	OFI/Golar Power – MOA Additional Clauses	Page 6

  
     

    
      
 

  

   

  “Sanctions List” means the “Specially Designated Nationals and Blocked
      Persons” list maintained by the OFAC, the Consolidated List of Financial Sanctions Targets and the Investment Ban List maintained by HMT, or any similar list maintained by, or public announcement of Sanctions designation made by, any of the Sanctions
      Authorities.

   

  “Tax” or “tax” means any present and future tax (including,
      without limitation, value added tax, consumption tax or any other tax in respect of added value or any income), levy, impost, duty or other charge or withholding of any nature (including any penalty or interest payable in connection with any failure
      to pay or any delay in paying any of the same); and “Taxes”, “taxes”, “Taxation” and “taxation” shall be construed accordingly.

   

  “Trading Limits” means worldwide trading always within Institute
      Navigation Limits.

   

  “Upfront Hire” means the non-refundable advance hire payment which the
      Sellers (as charterers thereunder) are obliged to pay to the Buyers (as owners thereunder) upfront under the Bareboat Charter, being an amount equal to thirty per cent. (30%) of the Purchase Price.

   

  “US Dollars”, “Dollars”, “USD”, “US$” and “$”
      each means available and freely transferable and convertible funds in lawful currency of the United States of America.

   

  “Valuation Report” means, in relation to the Vessel, a valuation report
      addressed to the Buyers, issued and prepared by an Approved Valuer in accordance with Clause 20 (Determination of Fair Market Value) above.

   

  	OFI/Golar Power – MOA Additional Clauses	Page 7

  
     

    
      
 

  

   

  The parties to this Agreement have executed this Agreement the day and year first
      before written.

   

  

  	SELLERS	 	 
	 	 	 
	Signed by	)	/s/ Rodrigo Fortes
	As	)	 
	for and on behalf of	)	RODRIGO FORTES
	GOLAR HULL M2023 CORP.	)	ATTORNEY-IN-FACT

   

  

  

  	BUYERS	 	 
	 	 	 
	Signed by	)	/s/ Li Bing

          
	as duly authorized director

        	)	 
	for and on behalf of	)	LI BING

          
	ORIENTAL FLEET LNG 02 LIMITED	)	DIRECTOR
	 东方富利LNG02有限公司	 	 

   

  
  

   

  	OFI/Golar Power – MOA Additional Clauses	Page 8Exhibit 10.13

  

  

  CERTAIN CONFIDENTIAL PORTIONS OF THIS EXHIBIT HAVE BEEN OMITTED AND REPLACED WITH “[***]”. SUCH IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT
    BECAUSE IT IS (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF DISCLOSED.

    

  	 	 
		
          BARECON 2001

           

        
	STANDARD BAREBOAT CHARTER           PART I

    

   

   

  	1.	Shipbroker

            N/A	
          2.    Place and date

           

            

          3 March 2020

        
	3.	Owners/Place of business (Cl. 1)

            NOBLE CELSIUS SHIPPING LIMITED

            Trust Company Complex

            Ajeltake Road, Ajeltake Island

            Majuro, the Marshall Islands

            MH 96960	
          4.   Bareboat Charterers/Place of business (Cl. 1)

          Golar Hull M2026 Corp.

          Trust Company Complex

          Ajeltake Road, Ajeltake Island

          Majuro, the Marshall Islands

          MH 96960

           

        
	5. 	
          Vessel’s name, call sign and flag (Cl. 1 and 3)

          Name: “Golar Celsius”

          Call Sign: V7AF5

          Flag: The Republic of the Marshall Islands

        
	6. 	Type of Vessel

            LNG carrier	7.  GT/NT

            102100 tons

            30631 tons
	8. 	
          When/Where built

          2013

          Samsung Heavy Industries Co., Ltd.

        	9.  Total DWT (abt.) in metric tons on
            summer freeboard 82029
	10.	Classification Society (Cl. 3)

            DNV GL	
          11.  Date of last special survey by the Vessel's classification 

           society

           17 October 2019 

            

        
	12	
          Further particulars of Vessel (also indicate minimum number of months' validity of class certificates agreed acc. to Cl. 3)

          N/A 

            

        
	13.	Port or Place of delivery (Cl. 3)

            As per MOA	14.  Time for delivery (Cl. 4) See
              Additional Clause 35 (Delivery)	
          15.  Cancelling date (Cl. 5)

          See Additional Clause

          34 (Background) 

            

        
	16.	Port or Place of redelivery (Cl. 15)

            see Additional Clause 44 (Redelivery)	
          17.   No. of months’ validity of trading and class certificates upon redelivery (Cl. 15)

           N/A 

            

        
	18.	Running days' notice if other than stated in Cl. 4 N/A	
          19.   Frequency of dry docking (Cl. 10(g))

            In accordance with Classification Society or flag state

            requirements

        
	20. 	
          Trading limits (Cl. 6)

          Trading worldwide always within International Navigating Limits

           

        
	21. 	
          Charter period (Cl. 2)

          84 months commencing from the Actual Delivery Date

           

        	
          22.  Charter hire (Cl. 11)

            See Additional Clause 40 (Hire)

        
	23. 	New class and other safety requirements (state percentage of
            Vessel’s insurance value acc. to Box 29)(Cl. 10(a)(ii)) See Additional Clause 39(c) (Structural changes and alterations)
	24. 	
          Rate of interest payable acc. to Cl. 11 (f) and, if applicable, acc.

          to PART IV

          See Additional Clause 40 (Hire)

           

        	25.  Currency and method of payment (Cl. 11) US

              Dollars (see also Additional Clause 40 (Hire))
	26. 	
          Place of payment; also state beneficiary and bank account (Cl.

          11)

          See Additional Clause 40 (Hire)

           

        	27.  Bank guarantee/bond (sum and place) (Cl.
            24) (optional)

             N/A
	28. 	
          Mortgage(s), if any (state whether 12(a) or (b) applies; if 12(b) applies state date of Financial Instrument and name of Mortgagee(s)/Place of business)
              (Cl. 12)

          12(b) applies; form of Financial Instrument and name of Mortgagee to be determined

           

        	
          29.  Insurance (hull and machinery and war risks) (state value

             acc. to Cl. 13(f) or, if applicable, acc. to Cl. 14(k)) (also state if Cl. 14 applies)

          See Additional Clause 42 (Insurance)

           

        
	30. 	
          Additional insurance cover, if any, for Owners' account limited to (Cl. 13(b) or, if applicable, Cl. 14(g))

          No limitation

           

        	
          31.  Additional insurance cover, if any, for Charterers' account

             limited to (Cl. 13(b) or, if applicable, Cl. 14(g))

          No limitation

           

        
	32. 	Latent defects (only to be filled in if period other than
            stated in Cl. 3)	33.  Brokerage commission and to whom payable
            (Cl. 27) N/A
	34. 	Grace period (state number of clear banking days) (Cl. 28) See Additional
              Clause 52 (Termination Events)	35.  Dispute Resolution (state 30(a), 30(b) or
            30(c); if 30(c) agreed Place of Arbitration must be stated (Cl. 30)

   

   

    

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of this BIMCO SmartCon document will constitute an
      infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

   

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

  
    
      

  

  

   

  	 	 	(a)   English law, London arbitration as
            per clause 30(a) below
	36.	
          War cancellation (indicate countries agreed) (Cl. 26(f))

          N/A

        
	37.	
          Newbuilding Vessel (indicate with “yes” or “no” whether PART III applies) (optional)

          No; Part III does not apply

        	
          38.  Name and place of Builders (only to be filled in if PART III applies)

           N/A

        
	39.	
          Vessel's Yard Building No. (only to be filled in if PART III applies)

          N/A

           

        	
          40.   Date of Building Contract (only to be filled in if PART III applies)

           N/A

        
	41.	
          Liquidated damages and costs shall accrue to (state party acc. to Cl. 1)

          a) N/A

          b) N/A

          c) N/A

        
	42.	
          Hire/Purchase agreement (indicate with "yes" or "no" whether

          PART IV applies) (optional)

          No; Part IV does not apply

           

        	
          43.  Bareboat Charter Registry (indicate with “yes” or “no” whether PART V applies) (optional)

           No; Part V does not apply

           

        
	44.	
          Flag and Country of the Bareboat Charter Registry (only to be filled in if PART V applies)

          N/A

           

        	
          45.  Country of the Underlying Registry (only to be filled in if PART V applies)

           N/A

           

        
	46. 	
          Number of additional clauses covering special provisions, if agreed

          Clause 32 (Definitions) to Clause 80 (Conflicts)

        
	PREAMBLE   It is mutually agreed that this Contract shall be performed subject to the conditions contained in
            this Charter which shall include PART I and PART II. In the event of a conflict of conditions, the provisions of PART I shall prevail over those of PART II to the extent of such conflict but no further. It is further mutually agreed that PART
            III and/or PART IV and/or PART V shall only apply and only form part of this Charter if expressly agreed and stated in Boxes 37, 42 and 43. If PART III and/or PART IV and/or PART V apply, it is further agreed that in the event of a conflict of
            conditions, the provisions of PART I and PART II shall prevail over those of PART III and/or PART IV and/or PART V to the extent of such conflict but no further.
	 	
          Signature (Owners)

          For and on behalf of

          NOBLE CELSIUS SHIPPING LIMITED

           

          /s/ Peng Qingfeng_________________ 

              Name: Peng Qingfeng

              Title:    Attorney-in-fact

           

        	
          Signature (Charterers)

          For and on behalf of

          Golar Hull M2026 Corp.

           

          /s/ Rodrigo Magalhaes Fortes___________________ 

          Name: Rodrigo Magalhaes Fortes

          Title:    Attorney-in-fact

        

   

   

    

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of this BIMCO SmartCon document will constitute an
      infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

   

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

     

  
    
      

  

   

  

   

  Part II

  BARECON 2001 Standard Bareboat Charter

   

  
    1.         1. Definitions

    2           In this Charter, the following terms shall have the

    3           meanings hereby assigned to them:

    4           "The Owners” shall mean the party identified in Box 3;

    5           "The Charterers” shall mean the party identified in Box 4;

    6           "The Vessel” shall mean the vessel named in Box 5 and

    7           with particulars as stated in Boxes 6 to 12.

    8           "Financial Instrument” means the mortgage, deed of

    9           covenant or other such financial security instrument as

    10         annexed to this Charter and
        stated in Box 28. See also

    Additional Clauses 32 (Definitions) and 33 (Interpretations).

    11         2. Charter Period

    12         In consideration of the hire detailed in Box 22,

    13         the Owners have agreed to let and the Charterers have

    14         agreed to hire the Vessel for the period stated in
            Box 21

    ("the “Agreed Charter Period”) period stated in Box 21

    15         (“The Charter Period”).

    16         3. Delivery

    See Additional Clause 35 (Delivery)

    17         (not applicable when Part III applies, as indicated in
            Box 37)

    18         (a) The Owners shall before and at the time of
          delivery

    19         exercise due diligence to make the Vessel seaworthy

    20         And in every respect ready in hull, machinery and

    21         equipment for service under this Charter.

    22         The Vessel shall be delivered by the Owners and taken

    23         over by the Charterers at the port or place indicated in

    24         Box 13 in such ready safe berth as the Charterers may

    25         direct.

    26         (b) The Vessel shall be properly documented on

    27         delivery in accordance with the laws of the flag State

    28         indicated in Box 5 and the requirements of the

    29         classification society stated in Box 10. The Vessel upon

    30         delivery shall have her survey cycles up to date and

    31         trading and class certificates valid for at least the number

    32         of months agreed in Box 12.

    33         (c) The delivery of the Vessel by the Owners and
          the

    34         taking over of the Vessel by the Charterers shall

    35         constitute a full performance by the Owners of all the

    36         Owners’ obligations under this Clause 3, and thereafter

    37         the Charterers shall not be entitled to make or assert

    38         any claim against the Owners on account of any

    39         conditions, representations or warranties expressed or

    40         implied with respect to the Vessel but the Owners shall

    41         be liable for the cost of but not the time for repairs or

    42         renewals occasioned by latent defects in the Vessel,

    43         her machinery or appurtenances, existing at the time of

    44         delivery under this Charter, provided such defects have

    45         manifested themselves within twelve (12) months after

    46         delivery unless otherwise Box 32.

    47         4. Time for Delivery

    See Additional Clause 35 (Delivery)

    

    48         (not applicable when Part IlI applies, as indicated in
            Box 37)

    49         The Vessel shall not be delivered before the date

    50         indicated in Box 14 without the Charters’ consent and

    51         the Owners shall exercise due diligence to deliver the

    52         Vessel not later than the date indicated in Box 15.

    53         Unless otherwise agreed in Box 18, the Owners shall

    54         give the Charterers not less than thirty (30) running days’

    55         preliminary and not less than fourteen (14) running days’

    56         definite notice of the date on which the Vessel is

    57         expected to be ready for delivery.

     

    58         The Owners shall keep the Charterers closely advised

     

  

  
    59         of possible changes in the Vessel’s position.

    60         5. Cancelling

    See Additional Clause 34 (Background)

    

    61         (not applicable when Part III applies, as indicated in
            Box 37)

    62         (a) Should the Vessel not be delivered latest by the

    63         cancelling date indicated in Box 15, the Charterers shall

    64         have the option of cancelling this Charter by giving the

    65         Owners notice of cancellation within thirty six (36)

    66         running hours after the cancelling date stated in Box

    67         15, failing which this Charter shall remain in full force

    68         and effect.

    69         (b) If it appears that the Vessel will be
          delayed beyond

    70         the cancelling date, the Owners may, as soon as they

    71         are in a position to state with reasonable certainty the

    72         day on which the Vessel should be ready, give notice

    73         thereof to the Charterers asking whether they will

    74         exercise their option of cancelling, and the option must

    75         then be declared within one hundred and sixty eight

    76         (168) running hours of the receipt by the Charterers of

    77         such notice or within thirty six (36) running hours after

    78         the cancelling date, whichever is the earlier. If the

    79         Charterers do not then exercise their option of cancelling,

    80         the seventh day after the readiness date stated in the

    81         Owners’ notice shall be substituted for the cancelling

    82         date indicated in Box 15 for the purpose of this Clause 5.

    83         (c) Cancellation under this Clause 5 shall be
          without

    84         prejudice to any claim the Charterers may otherwise

    85         have on the Owners under this Charter.

    86         6. Trading Restrictions

    87         The Vessel shall be employed in lawful trades for the

    88         carriage of suitable lawful merchandise within the trading

    89         limits indicated in Box 20.

    90         The Charterers undertake not to employ the Vessel or

    91         suffer the Vessel to be employed otherwise than in

    92         conformity with the terms of the contracts of
            insurance

    93         Insurances (as defined in Additional Clause 32

    (Definitions)) (including any warranties expressed or

    implied therein)

    94         without first obtaining the consent of the insurers to such

    95         employment and complying with such requirements as

    96         to extra premium or otherwise as the insurers may

    97         prescribe.

    98         The Charterers also undertake not to employ the Vessel

    99         or suffer her employment in any trade or business which

    100       is forbidden by the law of any country to which the Vessel

    101       may sail or is otherwise illicit or in carrying illicit or

    102       prohibited goods or in any manner whatsoever which

    103       may render her liable to condemnation, destruction,

    104       seizure or confiscation.

    105       Notwithstanding any other provisions contained in this

    106       Charter it is agreed that nuclear fuels or radioactive

    107       products or waste are specifically excluded from the

    108       cargo permitted to be loaded or carried under this

    109       Charter. This exclusion does not apply to radio isotopes

    110       used or intended to be used for any industrial,

    111       commercial, agricultural, medical or scientific purposes

    112       provided the Owner’s prior approval has been obtained

    113       to loading thereof.

    114       7. Surveys on Delivery and Redelivery

    115       (not applicable when Part III applies, as indicated in Box
            37)

    116       The Owners and Charterers shall each appoint

    117       surveyors for the purpose of determining and agreeing

    118       in writing the condition of the Vessel at the time of

  

  

   

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of
      this BIMCO SmartCon document will constitute an infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

  

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

   

  
     

    
      
 

  

   

  Part II

  BARECON 2001 Standard Bareboat Charter

   

  
    119       delivery and redelivery hereunder. The Owners shall

    120       bear all expenses of the On-hire Survey including loss

    121       of time, if any, and the Charterers shall bear all expenses

    122       of the Off-hire Survey including loss of time, if any, at

    123       the daily equivalent to the rate of hire or pro rata thereof.

     

    124       8. Inspection

    125       Subject to Additional Clause 43 (Inspection)Thethe

    Owners shall have the right at any time after giving

    126       reasonable notice to the Charterers to inspect or survey

    127       the Vessel or instruct a duly authorised surveyor to carry

    128       out such survey on their behalf in accordance with

    Additional Clause 43 (Inspection):-

     

    129       (a) to ascertain the condition of the Vessel and satisfy

    130       themselves that the Vessel is being properly repaired

    131       and maintained. The costs and fees for each such

    inspection

    132       or survey shall be paid in accordance with
            Additional

    Clause 43 (Inspection) by the Owners unless the Vessel

    133       is found to require repairs of maintenance in order to

    134       achieve the condition so provided;

     

    135       (b) in dry-dock in accordance with Additional Clause 43

    (Inspection) if the Charterers have not dry docked

    136       Her in accordance with Clause 10(g). The costs and fees

    137       for such inspection or survey shall be paid by the

    138       Charterers; and

     

    139       (c) for any other commercial reason they consider

    140       necessary (provided it does not unduly interfere with

    141       the commercial operation of the Vessel). The costs and

    142       fees for such inspection(s) and survey(s) shall be paid in

    accordance with Additional Clause 43 (Inspection) by

    the

    143       Owners.

     

    144       All time used in respect of inspection, survey or repairs

    145       shall be for the Charterers’ account and form part of the

    146       Charter Period.

    147       The Charterers shall also permit the Owners to inspect

    148       the Vessel’s log books whenever requested and shall

    149       whenever required by the Owners furnish them with full

    150       information regarding any casualties or other accidents

    151       or damage to the Vessel.

     

    152       9. Inventories, Oil and Stores

    153       A complete inventory of the Vessel’s entire equipment,

    154       outfit including spare parts, appliances and of all

    155       consumable stores on board the Vessel shall be made

    156       by the Charterers in conjunction with the
            Owners on

    157       delivery and again on redelivery of the Vessel. Without

    limiting the foregoing, Thethe

    158       Charterers shall also provide and the Owners,

    respectively, shall at the

    159       time of delivery and redelivery take over and
            pay for with a complete inventory of all

    160       bunkers, lubricating oil, unbroached provisions, paints,

    161       ropes and other consumable stores (excluding
            spare

    162       parts) in the said Vessel at the then current market prices

    163       at the ports of delivery and redelivery, respectively. The

    164       Charterers shall ensure that all spare parts listed in the

    165       inventory and used during the Charter Period are

    166       replaced at their expense prior to on redelivery of the

    167       Vessel. See also Additional Clause 37 (Bunkers and

    luboils)

     

    168       10. Maintenance and Operation

     

  

  
    169       (a)(i)Maintenance and Repairs - During the Charter

    170       Period the Vessel shall be in the full possession

    171       and at the absolute disposal for all purposes of the

    172       Charterers and under their complete control in

    173       every respect. The Charterers shall maintain the

    174       Vessel, her machinery, boilers, appurtenances and

    175       spare parts in a good state of repair, in efficient

    176       operating condition and in accordance with good

    177       commercial maintenance practice for vessels of

    this type and, except as

    178       provided for in Clause 14(l), if applicable,
        at their

    179       own expense they shall at all times keep the

    180       Vessel’s Class fully up to date with the Classification

    181       Society indicated in Box 10 and maintain all other

    182       necessary certificates in force at all times.

     

    183       (ii) New Class and Other Safety Requirements –
          In the

    184       event of any improvement, structural changes or

    185       new equipment becoming necessary for the

    186       continued operation of the Vessel by reason of new

    187       class requirements or by compulsory legislation

    188       costing (excluding the Charterers’ loss of time)

    189       more than the percentage stated in Box 23, or if

    190       Box 23 is left blank, 5 per cent of the Vessel’s

    191       insurance value as stated in Box 29, then the

    192       extent, if any, to which the rate of hire shall be varied

    193       and the ratio in which the cost of compliance shall

    194       be shared between the parties concerned in order

    195       to achieve a reasonable distribution thereof as

    196       between the Owners and the Charterers, having

    197       regard, inter alia, to the length of the period

    198       remaining under this Charter shall, in absence

    199       of agreement, be referred to the dispute resolution

    200       method agreed Clause 30.

     

    201       (iii) Financial Security - The Charterers shall maintain

    202       financial security or responsibility in respect of third

    203       party liabilities as required by any government,

    204       including federal, state or municipal or other division

    205       or authority thereof, to enable the Vessel, without

    206       penalty or charge, lawfully to enter, remain at, or

    207       leave any port, place, territorial or contiguous

    208       waters of any country, state or municipality in

    209       performance of this Charter without any delay. This

    210       obligation shall apply whether or not such

    211       requirements have been lawfully imposed by such

    212       government or division or authority thereof.

    213       The Charterers shall make and maintain all arrange-

    214       ments by bond or otherwise as may be necessary to

    215       satisfy such requirements at the Charterers’ sole

    216       expense and the Charterers shall indemnify the Owners

    217       against all consequences whatsoever (including loss of

    218       time) for any failure or inability to do so.

     

    219       (b) Operation of the Vessel - The Charterers shall at

    220       their own expense and by their own procurement man,

    221       victual, navigate, operate, supply, fuel and, whenever

    222       required, repair the Vessel during the Charter Period

    223       and they shall pay all charges and expenses of every

    224       kind and nature whatsoever incidental to their use and

    225       operation of the Vessel under this Charter, including

    226       annual flag State fees and any foreign general

    227       municipality and/or state taxes. The Master, officers

    228       and crew of the Vessel shall be the servants of the Charterers

    229       for all purposes whatsoever, even if for any reason

    230       appointed by the Owners.

    231       Charterers shall comply with the regulations regarding

    232       officers and crew in force in the country of the Vessel’s

  

  

   

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of
      this BIMCO SmartCon document will constitute an infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

  

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

   

  
     

    
      
 

  

   

  Part II

  BARECON 2001 Standard Bareboat Charter

   

  
    233       flag or any other applicable law.

    234       (c) The Charterers shall keep the Owners and the

    235       mortgagee(s) advised of the intended employment,

    236       planned dry docking and major repairs of the Vessel,

    237       as reasonably required. See also Additional Clause

    61 (Operational notifiable events)

     

    238       (d) Flag and Name of Vessel - See
            Additional Clause

    54 (Name of Vessel) During the Charter

    239       Period, the Charterers shall have the liberty to paint the

    240       Vessel in their own colours, install and display their

    241       funnel insignia and fly their own house flag. The

    242       Charterers shall not, also have the liberty,unless with the

    Owners’

    243       consent, which shall not be unreasonably
            withheld, to

    244       change the flag and/or the name of

        the Vessel during

    245       the Charter Period. Painting and re-painting,
            instalment

    246       and re-instalment, registration and re-registration, if

    247       required by the Owners, shall be at the Charterers’

    248       expense and time.

     

    249       (e) Changes to the Vessel See Additional Clause 39

    (Structural changes and alterations) – Subject to Clause

    10(a)(ii),

    250       the Charterers shall make no structural changes in the

    251       Vessel or changes in the machinery, boilers, appurten-

    252       ances or spare parts thereof without in each instance

    253       first securing the Owners’ approval thereof. If the Owners

    254       so agree, the Charterers shall, if the Owners so require,

    255       restore the Vessel to its former condition before the

    256       termination of this Charter.

     

    257       (f) Use of the Vessel’s Outfit, Equipment and

    258       Appliances - The Charterers shall have the use of all

    259       outfit, equipment, and appliances on board the Vessel

    260       at the time of delivery, provided the same or their

    261       substantial equivalent shall be returned to the Owners

    262       on redelivery in the same good order and condition as

    263       when received, ordinary wear and tear excepted. The

    264       Charterers shall from time to time during the Charter

    265       Period replace such items of equipment as shall be so

    266       damaged or worn as to be unfit for use. The Charterers

    267       are to procure that all repairs to or replacement of any

    268       damaged, worn or lost parts or equipment be effected

    269       in such manner (both as regards workmanship and

    270       quality of materials) as not to diminish the value of the

    271       Vessel. The Charterers have the right to fit additional

    272       equipment at their expense and risk but title to
            such

    additional equipment shall be deemed to have passed

    

    to the Owners immediately upon such fitting (except

    

    for rental/leased items) and the Charterers

    273       shall remove such equipment at the end of the period if

    274       requested by the Owners. Any equipment including radio

    275       equipment on hire on the Vessel at time of delivery shall

    276       be kept and maintained by the Charterers and the

    277       Charterers shall assume the obligations and liabilities

    278       of the Owners under any lease contracts in connection

    279       therewith and shall reimburse the Owners for all

    280       expenses incurred in connection therewith, also for any

    281       new equipment required in order to comply with radio

    282       regulations.

     

     

    283       (g) Periodical Dry Docking - The Charterers shall dry-

    284       dock the Vessel and clean and paint her underwater

    285       parts whenever the same may be necessary, but not

    286       less than once during the period stated in Box 19 or, if

    287       Box 19 has been left blank, every sixty (60) calendar

     

  

  
    288       months after delivery or such other period as may be

    289       required by the Classification Society or flag State.

    290       11. Hire

    See Additional Clause 40 (Hire)

    

    291       (a) The Charterers shall pay – hire due to the Owners

    292       punctually in accordance with the terms of this Charter

    293       in respect of which time shall be of the essence,

    294       (b) The Charterers shall pay to the Owners for
          the hire

    295       of the Vessel a lump sum in the amount indicated in

    296       Box 22 which shall be payable not later than every thirty

    297       (30) running days in advance, the first lump sum being

    298       payable on the date and hour of the Vessel’s delivery to

    299       the Charterers. Hire shall be paid continuously

    300       throughout the Charter Period.

    301       (c) Payment of hire shall be made in cash without

    302       discount in the currency and in the manner indicated in

    303       Box 25 and at the place mentioned in Box 26.

    304       (d) Final payment of hire, if for a period of
          less than

    305       thirty (30) running days, shall be calculated proportionally

    306       according to the number of days and hours remaining

    307       before redelivery and advance payment to be effected

    308       accordingly.

    309       (e) Should the Vessel be lost or missing, hire
          shall

    310       cease from the date and time when she was lost or last

    311       heard of. The date upon which the Vessel is to be treated

    312       as lost or missing shall be ten (10) days after the Vessel

    313       was last reported or when the Vessel is posted as

    314       missing by Lloyd’s, whichever occurs first. Any hire paid

    315       in advance to be adjusted accordingly.

    316       (f) Any delay in payment of hire shall entitle
          the

    317       Owners to interest at the rate per annum as agreed

    318       in Box 24. If Box 24 has not been filled in, the three months

    319       Interbank offered rate in London (LIBOR or its successor)

    320       for the currency stated in Box 25, as quoted by the British

    321       Bankers’ Association (BBA) on the date when the hire

    322       fell due, increased by 2 per cent., shall apply.

    323       (g) Payment of interest due under sub-clause
          11(f)

    324       shall be made within seven (7) running days of the date

    325       of the Owners’ invoice specifying the amount payable

    326       or, in the absence of an invoice, at the time of the next

    327       hire payment date.

    328       12. Mortgage

    329       (only to apply if Box 28 has been appropriately filled in)

    330       *)  (a) The Owners warrant that they have not effected

    331       any mortgage(s) of the Vessel and that they shall not

    332       effect any mortgage(s) without the prior consent of the

    333       Charterers, which shall not be unreasonably withheld.

    334       *)   (b) The Vessel
        chartered under this Charter ismay be

    financed

    335       by a mortgage according to the Financial Instrument in

    accordance with Additional Clause 47 (Owners’ mortgage).

    336       The Charterers undertake to comply, and provide such

    337       information and documents to enable the Owners to

    338       comply, with all such instructions or directions in regard

    339       to the employment, insurances, operation, repairs and

    340       maintenance of the Vessel as laid down in the Financial

  

  

   

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of
      this BIMCO SmartCon document will constitute an infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

  

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

   

  
     

    
      
 

  

   

  Part II

  BARECON 2001 Standard Bareboat Charter

   

  
    341       Instrument or as may be directed from time to time during

    342       the currency of the Charter by the mortgagee(s) in

    343       conformity with theeach Financial Instrument provided

    that such instructions or directions shall not be more

    

    onerous than those pursuant to and under this

    

    Charter. See also Additional Clause 47 (Owners’

    

    mortgage). The Charterers

    344       confirm that, for this purpose, they have acquainted

    345       themselves with all relevant terms, conditions and

    346       provisions of the Financial Instrument and agree to

    347       acknowledge this in writing in any form that may be

    348       required by the mortgagee(s). The Owners warrant that

    349       they have not effected any mortgage(s) other than stated

    350       in Box 28 and that they shall not agree to any

    351       amendment of the mortgage(s) referred to in Box 28 or

    352       effect any other mortgage(s) without the prior consent

    353       of the Charterers, which shall not be unreasonably

    354       withheld.

    355       *)  (Optional, Clauses 12(a) and 12(b) are
            alternatives;

    356       indicate alternative agreed in Box 28).

    357       13. Insurance and Repairs

    See Additional Clause 42 (Insurance)

    

    358       (a) During the Charter Period the Vessel shall be
          kept

    359       insured by the Charterers at their expense against hull

    360       and machinery, war and Protection and Indemnity risks

    361       (and any risks against which it is compulsory to insure

    362       for the operation of the Vessel, including maintaining

    363       financial security in accordance with sub-clause

    364       10(a)(iii)) in such form as the Owners shall in writing

    365       approve, which approval shall not be un-reasonably

    366       withheld. Such insurances shall be arranged by the

    367       Charterers to protect the interests of both the Owners

    368       and the Charterers and the mortgagee(s) (if any), and

    369       The Charterers shall be at liberty to protect under such

    370       insurances the interests of any managers they may

    371       appoint. Insurance policies shall cover the Owners and

    372       the Charterers according to their respective interests.

    373       Subject to the provisions of the Financial Instrument, if

    374       any, and the approval of the Owners and the insurers,

    375       the Charterers shall effect all insured repairs and shall

    376       undertake settlement and reimbursement from the

    377       insurers of all costs in connection with such repairs as

    378       well as insured charges, expenses and liabilities to the

    379       extent of coverage under the insurances herein provided

    380       for.

    381       The Charterers also to remain responsible for and to

    382       effect repairs and settlement of costs and expenses

    383       incurred thereby in respect of all other repairs not

    384       covered by the insurances and/or not exceeding any

    385       possible franchise(s) or deductibles provided for in the

    386       insurances.

    387       All time used for repairs under the provisions of sub-

    388       clause 13(a) and for repairs of latent defects according

    389       to Clause 3(c) above, including any deviation, shall be

    390       for the Charterers’ account.

    391       (b) If the conditions of the above insurances
          permit

    392       additional insurance to be placed by the parties, such

    393       cover shall be limited to the amount for each party set

    394       out in Box 30 and Box 31, respectively: The Owners or

    395       the Charterers as the case may be shall immediately

    396       furnish the other party with particulars of any additional

    397       insurance effected, including copies of any cover notes

    398       or policies and the written consent of the insurers of

     

     

     

    399       any such required insurance in any case where the

     

  

  
    400       consent of such insurers is necessary.

    401       (c) The Charterers shall upon the request of the

    402       Owners, provide information and promptly execute such

    403       documents as may be required to enable the Owners to

    404       comply with the insurance provisions of the Financial

    405       Instrument.

    406       (d) Subject to the provisions of the Financial
          Instru-

    407       ment, if any, should the Vessel become an actual,

    408       constructive, compromised or agreed total loss under

    409       the insurances required under sub-clause 13(a), all

    410       insurance payments for such loss shall be paid to the

    411       Owners who shall distribute the moneys between the

    412       Owners and the Charterers according to their respective

    413       interests. The Charterers undertake to notify the Owners

    414       and the mortgagee(s), if any, of any occurrences in

    415       consequence of which the Vessel is likely to become a

    416       total less as defined in this Clause.

    417       (e) The Owners shall upon the request of the

    418       Charterers, promptly execute such documents as may

    419       be required to enable the Charterers to abandon the

    420       Vessel to insurers and claim a constructive total loss.

    421       (f) For the purpose of insurance coverage against
          hull

    422       and machinery and war risks under the provisions of

    423       sub-clause 13(a), the value of the Vessel is the sum

    424       indicated in Box 29.

    425       14. Insurance, Repairs and Classification

    426       (Optional, only to apply if expressly agreed and stated

    427       in Box 29, in which event Clause 13 shall be considered

    428       deleted).

    429       (a) During the Charter Period the Vessel shall be
          kept

    430       insured by the Owners at their expense against hull and

    431       machinery and war risks under the form of policy or

    432       policies attached hereto. The Owners and/or insurers

    433       shall not have any right of recovery or subrogation

    434       against the Charterers on account of loss of or any

    435       damage to the Vessel or her machinery or appurt-

    436       enances covered by such insurance, or on account of

    437       payments made to discharge claims against or liabilities

    438       of the Vessel or the Owners covered by such insurance.

    439       Insurance policies shall cover the Owners and the

    440       Charterers according to their respective interests.

    441       (b) During the Charter Period the Vessel shall be
          kept

    442       insured by the Charterers at their expense against

    443       Protection and Indemnity risks (and any risks against

    444       which it is compulsory to insure for the operation of the

    445       Vessel, including maintaining financial security in

    446       accordance with sub-clause 10(a)(iii)) in such form as

    447       the Owners shall in writing approve which approval shall

    448       not be unreasonably withheld.

    419       (c) In the event that any act or negligence of
          the

    450       Charterers shall vitiate any of the insurance herein

    451       provided, the Charterers shall pay to the Owners all

    452       losses and indemnify the Owners against all claims and

    453       demands which would otherwise have been covered by

    454       such insurance.

    455—   (d) The Charterers shall, subject to the approval of
          the

    456       Owners or Owners’ Underwriters, effect all insured

    457       repairs, and the Charterers shall undertake settlement

    458       of all miscellaneous expenses in connection with such

    459       repairs as well as all insured charges, expenses and

    460       liabilities, to the extent of coverage under the insurances

  

  

   

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of
      this BIMCO SmartCon document will constitute an infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

  

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

   

  
     

    
      
 

  

   

  Part II

  BARECON 2001 Standard Bareboat Charter

   

  
    461       provided for under the provisions of sub-clause 14(a).

    462       The Charterers to be secured reimbursement through

    463       the Owners’ Underwriters for such expenditures upon

    464       presentation of accounts.

    465       (e) The Charterers to remain responsible for and
          to

    466       effect repairs and settlement costs and expenses

    467       incurred thereby in respect of all other repairs not

    468       covered by the insurances and/or not exceeding any

    469       possible franchise(s) or deductibles provided for in the

    470       insurances.

    471       (f) All time used for repairs under the
          provisions of

    472       sub-clauses 14(d) and 14(e) and for repairs of latent

    473       defects according to Clause 3 above, including any

    474       deviation, shall be for the Charterers’ account and shall

    475       form part of the Charter Period.

    476       The Owners shall not be responsible for any expenses

    477       as are incident to the use and operation of the Vessel

    478       for such time as may be required to make such repairs

    479       (g) If the conditions of the above insurances
          permit

    480       additional insurance to be placed by the parties such

    481       cover shall be limited to the amount for each party set

    482       out in Box 30 and Box 31, respectively. The Owners or

    483       the Charterers as the case may be shall immediately

    484       furnish the other party with particulars of any additional

    485       insurance effected, including copies of any cover notes

    486       or policies and the written consent of the insurers of

    487       any such required insurance in any case where the

    488       consent of such insurers is necessary.

    489       (h) Should the Vessel become an actual,
          constructive,

    490       compromised or agreed total loss under the insurances

    491       required under sub-clause 14(a), all insurance payments

    492       for such loss shall be paid to the Owners, who shall

    493       distribute the moneys between themselves and the

    494       Charterers according to their respective interests.

    495       (i) If the Vessel becomes an actual,
          constructive,

    496       compromised or agreed total loss under the insurances

    497       arranged by the Owners in accordance with sub-clause

    498       14(a), this Charter shall terminate as of the date of such

    499       loss.

    500       (j) The Charterers shall upon the request of the

    501       Owners, promptly execute such documents as may be

    502       required to enable the Owners to abandon the Vessel

    503       to the insurers and claim a constructive total loss.

    504       (k) For the purpose of insurance coverage against
          hull

    505       and machinery and war risks under the provisions of

    506       sub-clause 14(a), the value of the Vessel is the sum

    507       indicated in Box 29.

    508       (l) Notwithstanding anything contained in
          sub-clause

    509       10(a), it is agreed that under the provisions of Clause

    510       14, if applicable, the Owners shall keep the Vessel’s

    511       Class fully up-to-date with the Classification Society

    512       indicated in Box 10 and maintain all other necessary

    513       certificates in force at all times.

    514       15. Redelivery

    See Additional Clauses 44 (Redelivery) and

    

    45 (Redelivery conditions)

    

    515       At the expiration of the Charter Period the Vessel shall

    516       be redelivered by the Charterers the Owners at a

    517       safe and ice-free port or place as indicated in Box 16, in

    518       such ready safe berth as the Owners may direct. The

    519       Charterers shall give the Owners not less than thirty

     

        

    520       (30) running days’ preliminary notice of expected date,

     

  

  
    521       range of ports of redelivery or port or place of redelivery

    522       and not less than fourteen (14) running days’ definite

    523       notice of expected date and port or place of redelivery.

    524       Any changes thereafter in the Vessel’s position shall be

    525       notified immediately to the Owners.

    526       The Charterers warrant that they will not permit the

    527       Vessel to commence a voyage (including any preceding

    528       ballast voyage) which cannot reasonably be expected

    529       to be completed in time to allow redelivery of the Vessel

    530       within the Charter Period. Notwithstanding the above,

    531       should the Charterers fail to redeliver the Vessel within

    532       The Charter Period, the Charterers shall pay the daily

    533       equivalent to the rate of hire stated in Box 23 plus 10

    534       per cent or to the market rate, whichever is the higher,

    535       for the number of days by which the Charter Period is

    536       exceeded. All other terms, conditions and provisions of

    537       this Charter shall continue to apply.

    538       Subject to the provisions of Clause 10, the Vessel shall

    539       be redelivered to the Owners in the same or as good

    540       structure, state, condition and class as that in which she

    541       was delivered, fair wear and tear not affecting class

    542       excepted.

    543       The Vessel upon redelivery shall have her survey cycles

    544       up-to-date and trading and class certificates valid for at

    545       least the number of months agreed in Box 17.

    546       16. Non-Lien

    547       The Charterers will not suffer, nor permit to be continued,

    548       any lien or encumbrance incurred by them or their

    549       agents other than a Permitted Security Interest (as

    defined in Additional Clause 32 (Definitions)), which might

    have priority over the title and

    

    550       interest of the Owners in the Vessel. The Charterers

    551       further agree to fasten to the Vessel in a conspicuous

    552       place and to keep so fastened during the Charter Period

    553       a notice reading as follows:

    554       “This Vessel is the property of (name of Owners). It is

    555       under a bareboat charter to (name of
        Charterers) and by

    the terms

    556       of the Charter Party neither the Charterers nor the

    557       Master have any right, power or authority to create, incur

    558       or permit to be imposed on the Vessel any lien

    559       whatsoever, or to contract on behalf of the

    Owners, or to involve the Owners in any liability

    

    .”

    560       17. Indemnity

    (See also Additional Clause 62 (Further Indemnities)

    

    561       (a) The Charterers shall indemnify the Owners against

    562       any loss, damage or expense incurred by the Owners

    563       arising out of or in relation to the operation of the Vessel

    564       by the Charterers, and against any lien of whatsoever

    565       nature arising out of an event occurring during the

    566       Charter Period. If the Vessel be arrested or otherwise

    567       detained by reason of claims or liens arising out of her

    568       operation hereunder by the Charterers, the Charterers

    569       shall at their own expense take all reasonable steps to

    570       secure that within a reasonable time the Vessel is

    571       released, including the provision of bail.

    572       Without prejudice to the generality of the foregoing, the

    573       Charterers agree to indemnify the Owners against all

    574       consequences or liabilities arising from the Master,

    575       officers or agents signing Bills of Lading or other

    576       documents.

  

  

   

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of
      this BIMCO SmartCon document will constitute an infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

  

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

   

  
     

    
      
 

  

   

  Part II

  BARECON 2001 Standard Bareboat Charter

   

  
    577       (b) If the Vessel be arrested or otherwise detained by

    578       reason of a claim or claims against the Owners, the

    579       Owners shall at their own expense take all reasonable

    580       steps to secure that within a reasonable time the Vessel

    581       is released, including the provision of bail.

    582       In such circumstances the Owners shall indemnify the

    583       Charterers against any loss, damage or expense

    584       incurred by the Charterers (including excluding hire paid

    under

    585       this Charter) as a direct consequence of such arrest or

    586       detention.

    587       18. Lien

    588       The Owners to have a lien upon all cargoes, sub-hires

    589       and sub-freights belonging or due to the Charterers or

    590       any sub-charterers and any Bill of Lading freight for all

    591       claims under this Chart, and the Charterers to have a

    592       lien on the Vessel for all moneys paid in advance and

    593       not earned.

    594       19. Salvage

    595       All salvage and towage performed by the Vessel shall

    596       be for the Charterers’ benefit and the cost of repairing

    597       damage occasioned thereby shall be borne by the

    598       Charterers.

    599       20. Wreck Removal

    600       In the event of the Vessel becoming a wreck or

    601       obstruction to navigation the Charterers shall indemnify

    602       the Owners against any sums whatsoever which the

    603       Owners shall become liable to pay and shall pay in

    604       consequence of the Vessel becoming a wreck or

    605       obstruction to navigation.

    606       21. General Average

    607       The Owners shall not contribute to General Average.

    608       22. Assignment, Sub-Charter and Sale

    See Additional Clause 53 (Sub-chartering)

    

    609       (a) The Charterers shall not assign this Charter nor

    610       sub-charter the Vessel on a bareboat basis except with

    611       the prior consent in writing of the Owners, which shall

    612       not be unreasonably withheld, and subject to such terms

    613       and conditions as the Owners shall approve.

    614       (b) The Owners shall not sell the Vessel during
          the

    615       currency of this Charter except with the prior written

    616       consent of the Charterers, which shall not be unreason-

    617       ably withheld, and subject to the buyer accepting an

    618       assignment of this Charter.

    619       23. Contracts of Carriage

    620       *)  (a) The Charterers
        are to procure that all documents

    621       issued during the Charter Period evidencing the terms

    622       and conditions agreed in respect of carriage of goods

    623       shall contain a paramount clause incorporating any

    624       legislation relating to carrier’s liability for cargo

    625       compulsorily applicable in the trade; if no such legislation

    626       exists, the documents shall incorporate the Hague-Visby

    627       Rules. The documents shall also contain the New Jason

    628       Clause and the Both-to-Blame Collision Clause.

    629       *)  (b) The Charterers ae to procure that all
          passenger

    630       tickets issued during the Charter Period for the carriage

    631       of passengers and their luggage under this Charter shall

    632       contain a paramount clause incorporating any legislation

    633       relating to carrier’s liability for passengers and their

    634       luggage compulsorily applicable in the trade; if no such

    635       legislation exists, the passenger tickets shall incorporate

     

     

     

    636       the Athens Convention Relating to the Carriage of

     

  

  
    637       Passengers and their Luggage by Sea, 1974, and any

    638       protocol thereto.

    639        )* Delete as applicable.

    640       24. Bank Guarantee

    641       (Optional, only to apply if Box 27 filled in)

    642       The Charterers undertake to furnish, before delivery of

    643       the Vessel, a first class bank guarantee or bond in the

    644       sum and at the place as indicated in Box 27 as guarantee

    645       for full performance of their obligations under this

    646       Charter.

    647       25. Requisition/Acquisition

    648       (a) In the event of the Requisition for Hire of the Vessel

    649       by any governmental or other competent
            authority

    650       Governmental Agency (as defined in

    Additional Clause 32 (Definitions)) (hereinafter referred to as

    “Requisition for Hire”)

    651       irrespective of the date during the Charter Period when

    652       “Requisition for Hire” may occur then, unless and
            until

    the Vessel becomes a Total Loss during such

    

    Requisition for Hire, and irrespective of the

    653       length thereof and whether or not it be for an indefinite

    654       or a limited period of time, and irrespective of whether it

    655       may or will remain in force for the remainder of the

    656       Charter Period, this Charter shall not be deemed thereby

    657       or thereupon to be frustrated or otherwise terminated

    658       and the Charterers shall continue to pay the stipulated

    659       hire in the manner provided by this Charter until the time

    660       when the Charter would have terminated pursuant to

    661       any of the provisions hereof always provided however

    662       that in the event of “Requisition for Hire” any Requisition

    663       Hire or compensation received or receivable by the

    664       Owners shall be payable to the Charterers during the

    665       remainder of the Charter Period or the period of the

    666       “Requisition for Hire” whichever be the shorter.

    667       (b) In the event of the Owners being deprived of
          their

    668       ownership in the Vessel by any Compulsory Acquisition

    669       of the Vessel or requisition for title by any governmental

    670       or other competent authority (hereinafter referred to as

    671       “Compulsory Acquisition”), then, irrespective of the date

    672       during the Charter Period when “Compulsory Acqui-

    673       sition” may occur, this Charter shall be deemed

    674       terminated as of the date of such “Compulsory

    675       Acquisition”. In such event Charter Hire to be considered

    676       as earned and to be paid up to the date and time of

    677       such “Compulsory Acquisition”.

    678       26. War

    679       (a) For the purpose of this Clause, the words “War

    680       Risks” shall include any war (whether actual or

    681       threatened), act of war, civil war, hostilities, revolution,

    682       rebellion, civil commotion, warlike operations, the laying

    683       of mines (whether actual or reported), acts of piracy,

    684       acts of terrorists, acts of hostility or malicious damage,

    685       blockades (whether imposed against all vessels or

    686       imposed selectively against vessels of certain flags or

    687       ownership, or against certain cargoes or crews or

    688       otherwise howsoever), by any person, body, terrorist or

    689       political group, or the Government of any state

    690       whatsoever, which may be dangerous or are likely to be

    691       or to become dangerous to the Vessel, her cargo, crew

    692       or other persons on board the Vessel.

    693       (b) The Vessel, unless the written consent of the

    694       Owners be first obtained, shall not continue to or go

  

  

   

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of
      this BIMCO SmartCon document will constitute an infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

  

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

   

  
     

    
      
 

  

   

  Part II

  BARECON 2001 Standard Bareboat Charter

   

   

  
    695 through any port, place, area or zone (whether of land

    696 or sea), or any waterway or canal, where it reasonably

    697 appears that the Vessel, her cargo, crew or other

    698 persons on board the Vessel, in the reasonable

    699 judgement of the Owners, may be, or are likely to be,

    700 exposed to War Risks. Should the Vessel be within any

    701 such place as aforesaid, which only becomes danger-

    702 ous, or is likely to be or to become dangerous, after her

    703 entry into it, the Owners shall have the right to require

    704 the Vessel to leave such area.

    705 (c) The Vessel shall not load contraband cargo, or to

    706 pass through any blockade, whether such blockade be

    707 imposed on all vessels, or is imposed selectively in any

    708 way whatsoever against vessels of certain flags or

    709 ownership, or against certain cargoes or crews or

    710 otherwise howsoever, or to proceed to an area where

    711 she shall be subject, or is likely to be subject to

    712 a belligerent’s right of search and/or confiscation.

    713 (d) If the insurers of the war risks insurance,
            when

    714 Clause 14 is applicable, should
        require payment of

    715 premiums and/or calls because, pursuant to the

    716 Charterers’ orders, the Vessel is within, or is due to enter

    717 and remain within, any area or areas which are specified

    718 by such insurers as being subject to additional premiums

    719 because of War Risks, then the Charterers shall pay

    to the relevant insurers directly such premiums and/or calls

    immediately when such premiums and/or calls

    

    are due.

    

    720 shall be reimbursed by the Charterers to the Owners at

    721 the same time as the next payment of hire is due.

    722 (e) The Charterers shall have the liberty:

    723 (i) to comply with all orders, directions, recommend

    724 ations or advice as to departure, arrival, routes,

    725 sailing in convoy, ports of call, stoppages,

    726 destinations, discharge of cargo, delivery, or in any

    727 other way whatsoever, which are given by the

    728 Government of the Nation under whose flag the

    729 Vessel sails, or any other Government, body or

    730 group whatsoever acting with the power to compel

    731 compliance with their orders or directions;

    732 (ii) to comply with the orders, directions or recom

    733 mendations of any war risks underwriters who have

    734 the authority to give the same under the terms of

    735 the war risks insurance;

    736 (iii) to comply with the terms of any resolution of the

    737 Security Council of the United Nations, any

    738 directives of the European Community, the effective

    739 orders of any other Supranational body which has

    740 the right to issue and give the same, and with

    741 national laws aimed at enforcing the same to which

    742 the Owners are subject, and to obey the orders

    743 and directions of those who are charged with their

    744 enforcement.

    745 (f) in the event of outbreak of war (whether there be a

    746 declaration of war or not (i) between any two or more

    747 of the following countries: the United States of America;

    748 Russia; the United Kingdom; France; and the People’s

    749 Republic of China,(ii) between any two or more of the

    750 countries stated in Box 36, both the Owners and the

    751 Charterers shall have the right to cancel this Charter,

    752 whereupon the Charterers shall redeliver the Vessel to

    753 the Owners in accordance with Clause 15, if the Vessel

     

     

     

    754 has cargo on board after discharge thereof at

  

  
    755 destination, or if debarred under this Clase from

    756 reaching or entering it at a near, open and safe port as

    757 directed by the Owners, or if the Vessel has no cargo

    758 on board, at the port at which the Vessel then is or if at

    759 sea at a near, open and safe port as directed by the

    760 Owners, in all cases hire shall continue to be paid in

    761 accordance with Clause 11 and except as aforesaid all

    762 other provisions of this Charter shall apply until

    763 redelivery.

    764 27. Commission

    765 The Owners to pay a commission at the rate indicated

    766 In Box 33 to the Brokers named in Box 33 on any hire

    767 paid under the Charter. If no rate is indicated in Box 33,

    768 the commission to be paid by the Owners shall cover

    769 the actual expenses of the Brokers and a reasonable

    770 fee for their work.

    771 If the full hire is not paid owing to breach of the Charter

    772 by either of the parties the party liable therefor shall

    773 indemnify the Brokers against their loss of commission.

    774 Should the parties agree to cancel the Charter, the

    775 Owners shall indemnify the Brokers against any loss of

    776 commission but in such case the commission shall not

    777 exceed the brokerage on one year’s hire.

    778 28. Termination

    See Additional Clauses 52 (Termination Events) and

    

    57 (Total Loss)

    

    779 (a) Charterers’ Default

    780 The Owners shall be entitled to withdraw the Vessel from

    781 the service of the Charterers and terminate the Charter

    782 with immediate effect by written notice to the Charterers if:

    783 (i) the Charterers fail to pay hire in accordance with

    784 Clause 11. However, where there is a failure to

    785 make punctual payment of hire due to oversight,

    786 negligence, errors or omissions on the part of the

    787 Charterers or their bankers, the Owners shall give

    788 the Charterers written notice of the number of clear

    789 banking days stated in Box 34 (as recognised at

    790 the agreed place of payment) in which to rectify

    791 the failure, and when so rectified within such

    792 number of days following the Owners’ notice, the

    793 payment shall stand as regular and punctual.

    794 Failure by the Charterers to pay hire within the

    795 number of days stated in Box 34 of their receiving

    796 the Owners’ notice as provided herein, shall entitle

    797 the Owners to withdraw the Vessel from the service

    798 of the Charterers and terminate the Charter without

    799 further notice;

    800 (ii) the Charterers fail to comply with the
          requirements of:

    801 (1) Clause 6 (Trading Restrictions)

    802 (2) Clause 13(a) (Insurance and Repairs)

    803 provided that the Owners shall have the option, by

    804 written notice to the Charterers, to give the

    805 Charterers a specified number of days grace within

    806 which to rectify the failure without prejudice to the

    807 Owners’ right to withdraw and terminate under this

    808 Clause if the Charterers fail to comply with such

    809 notice;

    810 (iii) the Charterers fail to rectify any failure to comply

    811 with the requirements of sub-clause 10(a)(i)

    812 (Maintenance and Repairs) as soon as practically

    813 possible after the Owners have requested them in

  

  

   

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of
      this BIMCO SmartCon document will constitute an infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

  

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

   

  
     

    
      
 

  

   

  Part II

  BARECON 2001 Standard Bareboat Charter

   

  
    814 writing so to do and in any event so that the Vessel’s

    815 insurance cover is not prejudiced.

    816 (b) Owners’ Default

    817 If the Owners shall by any act or omission be in breach

    818 of their obligations under this Charter to the extent that

    819 the Charterers are deprived of the use of the Vessel

    820 and such breach continues for a period of fourteen (14)

    821 running days after written notice thereof has been given

    822 by the Charterers to the Owners, the Charterers shall

    823 be entitled to terminate this Charter with immediate effect

    824 by written notice to the Owners.

    825 (c) Loss of Vessel

    826 This Charter shall be deemed to be terminated if the

    827 Vessel becomes a total loss or is declared as a

    828 constructive or compromised or arranged total loss. For

    829 the purpose of this sub-clause, the Vessel shall not be

    830 deemed to be lost unless she has either become an

    831 actual total loss or agreement has been reached with

    832 her underwriters in respect of her constructive,

    833 compromised or arranged total loss or if such agreement

    834 with her underwriters is not reached it is adjudged by a

    835 competent tribunal that a constructive loss of the Vessel

    836 has occurred.

    837 (d) Either party shall be entitled to terminate this

    838 Charter with immediate effect by written notice to the

    839 other party         in the event of an order being made or

    840 resolution passed for the winding up, dissolution,

    841 liquidation or bankruptcy of the other party (otherwise

    842 than for the purpose of reconstruction or amalgamation)

    843 or if a receiver is appointed, or if it suspends payment,

    844 ceases to carry on business or makes any special

    845 arrangement or composition with its creditors.

    846 (e) The termination of this Charter shall be without

    847 prejudice to all rights accrued due between the parties

    848 prior to the date of termination and to any claim that

    849 either party might have.

    850 29. Repossession

    851 In the event of the termination of this Charter in

    852 accordance with the applicable provisions of this Charter 

    Clause 28,

    853 the Owners shall have the right to repossess the Vessel

    854 from the Charterers at her current or next port of call, or

    855 at a port or place convenient to them without hindrance

    856 or interference by the Charterers, courts or local

    857 authorities.    Pending physical repossession of the Vessel

    858 in accordance with this Clause 29, the Charterers shall

    859 hold the Vessel as gratuitous bailee only to the Owners

    and the Charterers shall procure that the master and

    

    crew follow the orders and directions of the Owners.

    860 The Owners shall arrange for an authorised represent

    861 ative to board the Vessel as soon as reasonably

    862 practicable following the termination of the Charter.      The

    863 Vessel shall be deemed to be repossessed by the

    864 Owners from the Charterers upon the boarding of the

    865 Vessel by the Owners’ representative. All arrangements

    866 and expenses relating to the settling of wages,

    867 disembarkation and repatriation of the Charterers’

    868 Master, officers and crew shall be the sole responsibility

    869 of the Charterers.

    870 30. Dispute Resolution

    871 *)    (a) This ContractCharter shall be governed by and

    construed

     

  

  
     

    872 in accordance with English law and any dispute arising

    873 out of or in connection with this ContractCharter shall be

    referred

    874 to arbitration in London in accordance with the Arbitration

    875 Act 1996 or any statutory modification or re enactment

    876 thereof save to the extent necessary to give effect to

    877 the provisions of this Clause.

    878 The arbitration shall be conducted in accordance with

    879 the London Maritime Arbitrators Association (LMAA)

    880 Terms current at the time when the arbitration proceed-

    881 ings are commenced.

    882 The reference shall be to three arbitrators, one to be

    appointed by each party and the third, subject to the

    

    provisions of the LMAA Terms, by the two so

    

    appointed.      A party

    883 wishing to refer a dispute to arbitration shall appoint its

    884 arbitrator and send notice of such appointment in writing

    885 to the other party requiring the other party to appoint its

    886 own arbitrator within 14 calendar days of that notice and

    887 stating that it will appoint its arbitrator as sole arbitrator

    888 unless the other party appoints its own arbitrator and

    889 gives notice that it has done so within the 14 days

    890 specified. If the other party does not appoint its own

    891 arbitrator and give notice that it has done so within the

    892 14 days specified, the party referring a dispute to

    893 arbitration may, without the requirement of any further

    894 prior notice to the other party, appoint its arbitrator as

    895 sole arbitrator and shall advise the other party

    896 accordingly. The award of a sole arbitrator shall be

    897 binding on both parties as if he had been appointed by

    898 agreement.

    899 Nothing herein shall prevent the parties agreeing in

    900 writing to vary these provisions to provide for the

    901 appointment of a sole arbitrator.

    902 In cases where neither the claim nor any counterclaim

    903 exceeds the sum of US$5100,000 (or such other sum as

    904 the parties may agree) the arbitration shall be conducted

    905 in accordance with the LMAA Small Claims Procedure

    906 current at the time when the arbitration proceedings are

    907 commenced. The seat of the arbitration shall be

    England, even where any hearing takes place outside

    

    England. The language of any and all arbitration

    

    proceedings shall be English. The law governing this

    

    Clause 30 (Dispute Resolution) shall be English law.

     

    908 *) (b) This Contract shall be governed by and construed

    909 in accordance with Title 9 of the United States Code

    910 and the Maritime Law of the United States and—any

    911 dispute—arising out of or in connection with this Contract

    912 shall be referred to three persons at New York, one to

    913 be appointed by each of the parties hereto, and the third

    914 by the two so chosen; their decision or that of any two

    915 of them shall be final, and for the purposes of enforcing

    916 any award,      judgement may be entered on an award by

    917 any court of competent jurisdiction.     The proceedings

    918 shall be conducted in accordance with the rules of the

    919 Society of Maritime Arbitrators, Inc.

    920 In cases where neither the claim nor any counterclaim

    921 exceeds the sum of US$50,000 (or such other sum as

    922 the parties may agree) the arbitration shall be conducted

    923 in accordance with the Shortened Arbitration Procedure

    924 of the Society of Maritime Arbitrators, Inc.    current at

    925 the time when the arbitration proceedings are commenced.

    926 *)    (c) This Contract shall be governed by and
          construed

  

  

   

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of
      this BIMCO SmartCon document will constitute an infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

  

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

   

  
     

    
      
 

  

   

  Part II

  BARECON 2001 Standard Bareboat Charter

   

  
    927 in accordance with the laws of the place mutually agreed

    928 by the parties and any dispute arising out of or in

    929 connection with this Contract shall be referred to

    930 arbitration at a mutually agreed place, subject to the

    931 procedures applicable there.   

    932 (d) Notwithstanding (a), (b) or (c) above, the parties

    933 may agree at any time to refer to mediation any

    934 difference and/or dispute arising out of or in connection

    935 with this Contract.

    936 In the case of a dispute in respect of which arbitration

    937 has been commenced under (a), (b) (c) above, the

    938 following shall apply:

    939 (i) Either party may at any time and from time to time

    940 elect to refer the dispute or part of the dispute to

    941 mediation by service on the other party of a written

    942 notice (the “Mediation Notice”) calling on the other

    943 party to agree to mediation.

    944 (ii) The other party shall thereupon within 14
          calendar

    945 days of receipt of the Mediation Notice confirm that

    946 they agree to mediation, in which case the parties

    947 shall thereafter agree a mediator within a further

    948 14 calendar days, failing which on the application

    949 of either party a mediator will be appointed promptly

    950 by the Arbitration Tribunal (“the Tribunal”) or such

    951 person as the Tribunal may designate for that

    952 purpose.      The mediation shall be conducted in such

    953 place and in accordance with such procedure and

    954 on such terms as the parties may agree or, in the

    955 event of disagreement, as may be set by the

    956 mediator.

    

    957 (iii) if the other party does not agree to mediate,
          that

    958 fact may be brought to the attention of the Tribunal

    959 and may be taken into account by the Tribunal when

    960 allocating the costs of the arbitration as between

    961 the parties.

  

  
    962 (iv) Either party may advise the Tribunal that they have

    966 agreed to mediation. The arbitration procedure shall

    967 continue during the conduct of the mediation but

    968 the Tribunal may take the mediation timetable into

    969 account when setting the timetable for steps in the

    970 arbitration.

    971 (vi) Unless otherwise agreed or specified in the

    972 mediation terms, each party shall bear its own costs

    973 incurred in the mediation and the parties shall share

    974 equally the mediator’s costs and expenses.

    975 (vii) The mediation process shall be without prejudice

    976 and confidential and no information or documents

    977 disclosed during it shall be revealed to the Tribunal

    978 except to the extent that they are disclosable under

    979 the law and procedure governing the arbitration.

    980 (Note: The parties should be aware that the mediation

    981 process may not necessarily interrupt time limits.)

    982 (e) If Box 35 in Part l is not appropriately filled in,
          sub-clause

    983 30(a) of this Clause shall apply. Sub clause 30(d) shall

    984 apply in all cases.

    985 *) Sub clauses 30(a), 30(b) and 30(c) are
            alternatives;

    986 Indicate alternative agreed in Box 35.

    987 31. Notices

    See Additional Clause 73 (Notices)

    

    988 (a) Any notice to be given by either party to the other

    989 party shall be in writing and may be sent by fax, telex,

    990 registered or recorded mail or by personal service.

    991 (b) The address of the Parties for service of such

    992 communication shall be as stated in Boxes 3 and 4

    993 respectively.

  

  

   

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of
      this BIMCO SmartCon document will constitute an infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

  

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

   

  
     

    
      
 

  

   

  Part III 

  PROVISIONS TO APPLY FOR NEWBUILDING VESSELS ONLY 

  (Optional, only to apply if expressly agreed and stated in Box 37)

   

  
    1.         Specifications and Building Contract

    2          (a) The Vessel shall be constructed in accordance
          with 

    3          the Building Contract (hereafter called “the Building

    4          Contract”) as annexed to this Charter, made between the

    5          Builders and the Owners and in accordance with the 

    6          specifications and plans annexed thereto, such Building 

    7          Contract, specifications and plans having been counter-

    8          signed approved by the Charterers.

    9          (b) No change shall be made in the Building
          Contract or 

    10         in the specifications or plans of the Vessel as approved by
        

    11         the Charterers as aforesaid, without the Charterers’

    12         consent.

    13     —(c) The Charterer shall have the right to send
          their

    14         representative to the Builders’ Yard to inspect the Vessel 

    15         during the course of her construction to satisfy themselves
        

    16         that construction is in accordance with such approved 

    17         specifications and plans as referred to under sub-clause 

    18         (a) of this Clause.

    19         (d) The Vessel shall be built in-accordance with
          the 

    20         Building Contract-and-shall-be-of-the-description-set-out

    21         therein. Subject to the-provisions of-sub-clause 2(c)(ii) 

    22         hereunder the Charterers shall be bound to accept the

    23         Vessel from the Owners, completed and constructed in

    24         accordance with the Building Contract, on the date of

    25         delivery by the Builders. The Charterers undertake that 

    26         having accepted the Vessel they will not thereafter raise

    27         any claims against the Owners in respect of the Vessel’s

    28         performance or specification or defects, if any.

    29         Nevertheless, in respect of any repairs, replacements or

    30         defects which appear within the first 12 months from

    31         delivery by the Builders, the Owners shall endeavour to

    32         compel the Builders to repair, replace or remedy any defects

    33         or to recover from the Builders any expenditure incurred in

    34         carrying out such repairs, replacements or-remedies,

    35         However, the Owners’ liability to the Charterers shall be 

    36         limited to the extent the Owners have a valid claim against
        

    37         the Builders under the guarantee clause of the Building 

    38         Contract (a copy whereof has been supplied to the 

    39         Charterers). The Charterers shall be bound to accept such 

    40         sums as the Owners are reasonably able to recover under 

    41         this Clause and shall make no further claim on the Owners 

    42         for the difference between the amount(s) so recovered and 

    43         the actual expenditure on repairs, replacement or

    44         remedying defects or for any loss of time incurred,

    45         Any liquidated damages for physical defects or deficiencies

    46         shall accrue to the account of the party stated in Box 41(a)
        

    47         or if not filled in shall be shared equally between the
          parties.

    48         The costs of pursuing a claim or claims against the Builders

    49         under this Clause (including any liability to the Builders)

    50         shall be borne by the party stated in Box 41(b) or if not 

    51         filled in shall be shared equally between the parties:

    52         2. Time and Place of Delivery

    53         (a) Subject to the Vessel having completed her

    54         acceptance trials including trials of cargo equipment in

    55         accordance with the Building Contract and specifications

    56         to the satisfaction of the Charterers, the Owners shall give

    57         and the Charterers shall take delivery of the Vessel afloat
        

    58         when ready for delivery and property documented at the 

    59         Builders’ Yard or some other safe and readily accessible

    60         dock wharf or place as may be agreed between the parties

    61         hereto and the Builders. Under the Building Contract the 

  

  
    62         Builders have estimated that the Vessel will be ready for

    63         delivery to the Owners as therein provided but the delivery

    64         date for the purpose of this Charter shall be the date when
        

    65         the Vessel is in fact ready for delivery by the Builders
          after

    66         completion of trials whether that be before or after as

    67         indicated in the Building Contract. The Charterers shall not
        

    68         be entitled to refuse acceptance of delivery of the Vessel

    69         and upon and after such acceptance, subject to Clause 

    70         1(d), the Charterers shall not be entitled to make any claim

    71         against the Owners in respect of any conditions, 

    72         representations or warranties, whether express or implied,

    73         as to the seaworthiness of the Vessel or in respect of delay

    74         in delivery.

    75         (b) If for any reason other than a default by
          the Owners 

    76         under the Building Contract, the Builders become entitled 

    77         under that Contract not to deliver the Vessel to the Owners;

    78         the Owners shall upon giving to the Charterers written

    79         notice of Builders becoming so entitled, be excused from

    80         giving delivery of the Vessel to the Charterers and upon 

    81         receipt of such notice by the Charterers this Charter

    82         cease to have effect.

    83         (c) If for any reason the Owners become entitled
          under 

    84         the Building Contract to reject the Vessel the Owners shall,
        

    85         before exercising such right of rejection, consult the 

    86         Charterers and thereupon

    87         (i) if the Charterers do not wish to take
          delivery of the Vessel 

    88         they shall inform the Owners within seven (7) running days 

    89         by notice in writing and upon receipt by the Owners such 

    90         notice this Charter shall cease to have effect; or

    91         (ii) if the Charterers wish to take delivery of
          the Vessel 

    92         they may by notice in writing within seven (7) running days

    93         require the Owners to negotiate with the Builders as to the
        

    94         terms on which delivery should be taken and/or refrain from
        

    95         exercising their right to rejection and upon receipt of such
        

    96         notice the Owners shall commence such negotiations and/

    97         or take delivery of the Vessel from the Builders and deliver

    98         her to the Charterers;

    99         (iii) in no circumstances shall the Charterers
          be entitled to 

    100       reject the Vessel unless the Owners are able to reject the

    101       Vessel from the Builders;

    102       (iv) this Charter terminates under sub clause (b)
          or (c) of 

    103       this Clause, the Owners shall thereafter net be liable to the

    104       Charterers for any claim under or arising out of this Charter
        

    105       or its termination.

    106       (d) Any liquidated damages for delay in delivery
          under the

    107       Building Contact and any costs incurred in pursuing a claim

    108       therefor shall accrue to the account of the party stated in

    109       Box 41(c) or if not filled in shall be shared equally between

    110       the parties.

    111       3. Guarantee Works

    112       If not otherwise agreed, the Owners authorise the

    113       Charterers to arrange for the guarantee works to be 

    114       performed in accordance with the building contract terms,

    115       and hire to continue during the period of guarantee works,

    116       The Charterers have to advise the Owners about the 

    117       performance to the extent the Owners may request.

    118       4. Name of Vessel

    119       The name of the Vessel shall be mutually ,agreed between

    120       the Owners and the Charterers and the Vessel shall be

  

  

   

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of
      this BIMCO SmartCon document will constitute an infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

  

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

   

  
     

    
      
 

  

   

  Part III 

  PROVISIONS TO APPLY FOR NEWBUILDING VESSELS ONLY 

  (Optional, only to apply if expressly agreed and stated in Box 37)

   

  
    121         painted in the colour, display the funnel insignia and fly

    122         the house flag as required by the Charterers.

    123         5. Survey on Redelivery

    124         The Owners and the Charters-shall appoint surveyors

    125         for the purpose of determining and agreeing in writing the

    126         condition of the Vessel at the time of re-delivery.

    127         Without prejudice to Clause 15 (Part II), the Charterers

  

  
    128         shall bear all survey expenses and all other costs, if any,

    129         including the cost of docking and undocking, if required, 

    130         as well as all repair costs incurred. The Charterers shall

    131         also bear all loss of time spent in connection with any 

    132         docking and undocking as well as repairs, which shall be

    133         paid at the rate of hire per day or pro rata.

  

  

   

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of
      this BIMCO SmartCon document will constitute an infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

  

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

   

   

  
     

    
      
 

  

   

  Part IV 

  HIRE/PURCHASE AGREEMENT 

  (Optional, only to apply if expressly agreed and stated in Box 42)

   

  
    1         See Additional Clause 56 (Purchase Obligation and transfer of title) 

    On expiration of this Charter and provided the Charterers 

    2         have fulfilled their obligations according to Part I and II

    3         as well as Part III, applicable, it is agreed, that on 

    4         payment of the final payment of hire as per Clause 11 

    5         the Charterers have purchased the Vessel with

    6         everything belonging to her and the Vessel is fully paid

    7         for.

    8         In the following paragraphs the Owners are referred to

    9         as the Sellers and the Charterers as the Buyers.

    10       The Vessel shall be delivered by the Sellers and taken

    11       over by the Buyers on expiration of the Charter.

    12       The Sellers guarantee that the Vessel, at the time of

    13       delivery, is free from all encumbrances and maritime

    14       liens or any debts whatsoever other than those arising 

    15       from anything done or not done by the Buyers or any

    16       existing mortgage agreed not to be paid off by the time 

    17       of delivery. Should any claims, which have been incurred

    18       prior to the time of delivery be made against the Vessel,

    19       the Sellers hereby undertake to indemnify the Buyers

    20       against all consequences of such claims to the extent it

    21       can be proved that the Sellers are responsible for such

    22       claims. Any taxes, notarial, consular and other charges 

    23       and expenses connected with the purchase and

    24       registration under Buyers’ flag, shall be for Buyers’

    25       account. Any taxes, consular and other charges and

  

  
    26       expenses connected with closing of the Sellers’ register,

    27       shall be for Sellers’ account. 

    28       In exchange for payment of the last month’s hire 

    29       instalment the Sellers shall furnish the Buyers with a

    30       Bill of Sale duly attested and legalized, together with a

    31       certificate setting out the registered encumbrances, if 

    32       any, On delivery of the Vessel the Sellers shall provide

    33       for deletion of the Vessel from the Ship’s Register and

    34       deliver a certificate of deletion to the Buyers.

    35       The Sellers shall, at the time of delivery, hand to the 

    36       Buyer all classification certificates (for hull, engines,

    37       anchors, chains, etc.), as well as all plans which may

    38       be in Sellers’ possession:

    30       The Wireless Installation and Nautical Instruments,

    40       unless on hire, shall be included in the sale without any

    41       extra payment. 

    42       The Vessel with everything belonging to her shall be at 

    43       Sellers’ risk and expense until she is delivered to the 

    44       Buyers, subject to the conditions of this Contract and

    45       the Vessel with everything belonging to her shall be

    46       delivered and taken over as she is at the time of delivery,

    47       after which the Seller shall have no responsibility for 

    48       possible faults or deficiencies of any description.

    49       The Buyers undertake to pay for the repatriation of the

    50       Master, officers and other personnel if appointed by the

    51       Sellers to the port where the Vessel entered the Bareboat

    52       Charter as per Clause 3 (Part II) or to pay the equivalent

    53       cost for their journey to any other place.

  

  

   

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of
      this BIMCO SmartCon document will constitute an infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

   

  
     

    
      
 

  

   

  Part V 

  PROVISIONS TO APPLY FOR VESSELS REGISTERED IN A BAREBOAT CHARTER REGISTRY 

  (Optional, only to apply if expressly agreed and stated in Box 43)

   

  
    1          1. Definitions

    2          For the purpose of this PART V, the following terms shall

    3          have the meaning hereby assigned to them:

    4          "The Bareboat Charter Registry” shall mean the registry 

    5          of the State whose flag the Vessel will fly and in which 

    6          the Charterers are registered as the bareboat Charterers

    7          during the period of the Bareboat Charter.

    8          "The Underlying Registry” shall mean the registry of the

    9          state in which the Owners of the Vessel are registered

    10         as Owners and to which jurisdiction and control of the 

    11         Vessel will revert upon termination of the Bareboat 

    12         Charter Registration.

    13         2. Mortgage 

    14         The Vessel chartered under this Charter is financed by 

    15         a mortgage and the provisions of Clause 12(b) (Part II) 

    16         shall apply. 

  

  
    17         3. Termination of Charter by Default

    18         If the Vessel chartered under this Charter is registered 

    19         in a Bareboat Charter Registry as stated in Box 44, and 

    20         if the Owners shall default in the payment of any amounts

    21         due under the mortgage(s) specified in Box 28, the

    22         Charterers shall, if so required by the mortgagee, direct

    23         the Owners to re-register the Vessel in the Underlying

    24         Registry as shown in Box 45.

    25         In the event of the Vessel being deleted from the 

    26         Bareboat Charter Registry as stated in Box 44, due to a

    27         default by the Owners in the payment of any amounts

    28         due under the mortgage(s), the Charterers shall have

    29         the right to terminate this Charter forthwith and without

    30         prejudice to any other claim they may have against the

    31         Owners under this Charter.

  

  

   

  Copyright © 2001 BIMCO. All rights reserved. Any unauthorised copying, duplication, reproduction or distribution of
      this BIMCO SmartCon document will constitute an infringement of BIMCO's copyright. Explanatory notes are available from BIMCO at www.bimco.org.

  

  First published in 1974 as BARECON A and B. Amalgamated and revised in 1989. Revised 2001.

   

   

  
     

    
      
 

  

   

   

  

  Execution version

   

  CONTENTS

   

  	 	 	Page
	32.	Definitions	1
	33.	Interpretations	18
	34.	Background	20
	35.	Delivery	20
	36.	Conditions precedent	22
	37.	Bunkers and luboils	25
	38.	Further maintenance and operation	25
	39.	Structural changes and alterations	26
	40.	Hire	27
	41.	Increased Costs	31
	42.	Insurance	33
	43.	Inspection	39
	44.	Redelivery	40
	45.	Redelivery conditions	41
	46.	Survey on redelivery	41
	47.	Owners' mortgage	42
	48.	Charterers' representations and warranties	43
	49.	Charterers' undertakings	46
	50.	Financial covenants	53
	51.	Value maintenance clause	55
	52.	Termination Events	57
	53.	Sub-chartering	61
	54.	Name of Vessel	61
	55.	Purchase Option	62
	56.	Purchase Obligation and transfer of title	62
	57.	Total Loss	64
	58.	Appointment of Approved Manager	65
	59.	Fees and expenses	65
	60.	Stamp duties	66
	61.	Operational notifiable events	67
	62.	Further indemnities	68
	63.	Setoff	69
	64.	Further assurances and undertakings	70
	65.	Cumulative rights	70
	66.	No waiver	70
	67.	Entire agreement	70

   

    

  AVIC/Golar LNG – BBC Additional Clauses

  

  
     

    
      
 

  

   

  	68.	Amendments	70
	69.	Invalidity	70
	70.	English language	70
	71.	No partnership	70
	72.	Disclosure of information	71
	73.	Notices	71
	74.	Survival of Charterers' obligations	73
	75.	Counterparts	73
	76.	Third Parties Act	73
	77.	Waiver of immunity	73
	78.	FATCA	73
	79.	Owner's undertakings	74
	80.	Conflicts	75
	SCHEDULE 1 FORM OF PROTOCOL OF DELIVERY AND ACCEPTANCE	76
	SCHEDULE 2 FORM OF TITLE RE TRANSFER PROTOCOL OF DELIVERY AND ACCEPTANCE	77
	SCHEDULE 3 FORM OF COMPLIANCE CERTIFICATE	78
	SIGNATURE PAGE	80

  

  AVIC/Golar LNG – BBC Additional Clauses

  
     

    
      
 

  

  
   

  ADDITIONAL CLAUSES

      TO BAREBOAT CHARTER FOR LNG CARRIER "GOLAR CELSIUS"

   

  		32.	Definitions

   

  In this Charter:

   

  "Account Bank" means Nordea Bank Abp, London Branch (or such other bank or
      financial institution as selected or designated by the Charterers (with the consent of the Owners) from time to time).

   

  "Account Charge" means the deed of charge over the Earnings Account and all
      amounts from time to time standing to the credit to the Earnings Account from the Charterers in favour of the Owners.

   

  "Actual Delivery Date" means the date of delivery of the Vessel by the
      Owners to the Charterers under this Charter.

   

  "Actual Owners' Cost" means the "Purchase Price" as defined in the MOA.

   

  "Affiliate" means, in relation to any person, a Subsidiary of that person
      or a Holding Company of that person or any other Subsidiary of that Holding Company.

   

  "Agreement Term" means the period commencing on the date of this Charter
      and terminating on the later of:

   

  		(a)	the expiration of the Charter Period; and

   

  		(b)	the date on which all money of any nature owed by the Obligors to the Owners under the Transaction
            Documents or otherwise in connection with the Vessel have been paid in full to the Owners and no obligations of the Obligors of any nature to the Owners or otherwise in connection with the Transaction Documents or with the Vessel remain
            unperformed or undischarged (whether or not following (i) the occurrence of a Termination Event or (ii) the exercise of the Purchase Option in accordance with the terms of this Charter).

   

  "AML Laws" means as to any Obligor and in relation to money laundering or
      terrorism, any treaty, law (including the common law), statute, ordinance, code, rule, regulation, guidelines, license, permit requirement, order or determination of any Governmental Agency, and the interpretation or administration thereof, in each
      case applicable to or binding upon such Obligor.

   

  "Anniversary Dates" means the First Anniversary Date, the Second
      Anniversary Date, the Third Anniversary Date, the Fourth Anniversary Date, the Fifth Anniversary Date, the Sixth Anniversary Date and the Seventh Anniversary Date and "Anniversary Date" means any one of them.

   

  "Applicable Rate" means:

   

  		(a)	for any Hire Period of which the Variable Hire Determination Date falls before the occurrence of a
            Screen Rate Replacement Event, LIBOR; or

   

  		(b)	for any Hire Period of which the Variable Hire Determination Date falls upon or after the occurrence
            of a Screen Rate Replacement Event but before a Replacement Benchmark is agreed on pursuant to paragraph (o)(i)(A) of Clause 40 (Hire), the Substitute Rate; or

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    1 

    
      
 

  

   

  		(c)	for any Hire Period of which the Variable Hire Determination Date falls upon or after a Replacement
            Benchmark is agreed on pursuant to paragraph (o)(i)(A) of Clause 40 (Hire), the Replacement Benchmark.

   

  "Approved Broker" means such firm or firms of insurance brokers as the
      Charterers may appoint from tithe to time and in each case approved by the Owners.

   

  "Approved Commercial Manager" means:

   

  		(a)	Golar Management Limited; or

   

  		(b)	any other management company appointed by the Charterers with the prior written consent of the
            Owners for the commercial management of the Vessel.

   

  "Approved Manager" means either the Approved Commercial Manager or, as the
      context may require, the Approved Technical Manager.

   

  "Approved Technical Manager" means:

   

  		(a)	Golar Management Norway AS; or

   

  		(b)	any other management company appointed by the Charterers with the prior written consent of the
            Owners for the technical management of the Vessel.

   

  "Approved Valuer" means each of (a) Arrow Shipbroking, (b) Braemar ACM
      Shipbroking, (c) Clarksons Platou, (d) Fearnleys AS, (e) Howe Robinson, (f) Maersk Broker, (g) Simpson Spence Young and any other reputable and independent ship brokers proposed by the Charterers and approved by the Owners.

   

  "Authorisation" means an authorisation, consent, approval, resolution,
      licence, exemption, filing, notarisation, lodgement or registration.

   

  "Balloon" means an amount of [***] US Dollars (US$[***]).

   

  "Break Costs" means all costs, losses, premiums or penalties incurred by
      the Owners (including, without limitation, but without double counting, all costs, losses, premiums or penalties incurred by the Owners under the Finance Documents) as a result of the receipt by the Owners of any payment under or in relation to the
      Transaction Documents on a day other than the due date for payment of the sum in question

   

  "Business Day" means a day (other than a Saturday or Sunday) on which banks
      and financial markets are open for business in Hong Kong, London, New York, Oslo and Shanghai.

   

  "Cancelling Date" has the meaning given to such term in the MOA.

   

  "Charter Period" means, subject to paragraph (k) (Illegality) of
      Clause 40 (Hire), Clauses 52 (Termination Events), 55 (Purchase Option), 56 (Purchase Obligation and transfer of title) and 57 (Total Loss), the period of eighty four (84) consecutive months commencing from the
      Actual Delivery Date.

   

  "Charterers' Assignment" means the deed of assignment executed or to be
      executed (as the case may be) by the Charterers in favour of the Owners in relation to certain of the Charterers' rights and interest in and to (among other things):

   

  		(a)	the Earnings;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    2 

    
      
 

  

   

  		(b)	the Insurances;

   

  		(c)	the Requisition Compensation;

   

  		(d)	any Sub-Charter which has a duration (taking into account any option to renew or extend) of more
            than twelve (12) months; and

   

  		(e)	any Sub-Charter Guarantee or Security Interest in favour of the Charterers for the performance of
            the obligations of any Sub-Charterers under any Sub-Charter referred to under paragraph (d) above.

   

  "Classification Society" means the vessel classification society referred
      to in Box 10 (Classification Society) of this Charter, or such other member of the International Association of Classification Societies (IACS) as the Charterers may select and the Owners may approve from time to time.

   

  "Commitment Fee" has the meaning given to such term in paragraph (c) (Commitment

        Fee) of Clause 59 (Fees and expense).

   

  "Compliance Certificate" means a GLNG Compliance Certificate or a Golar
      Power Compliance Certificate.

   

  "Cost Balance" means, at any time during the Agreement Term, an amount equal to
      the Actual Owners' Cost as may be deducted by payment, prepayment, or deemed payment of:

   

  		(a)	the Upfront Hire;

   

  		(b)	Principal Hire; and

   

  		(c)	the Balloon.

   

  "Default Termination" means a Termination pursuant to the provisions of
      Clause 52 (Termination Events).

   

  "Deposit" has the meaning given to such term in paragraph (x)(i) of Clause
      49 (Charterers' undertakings).

   

  "Earnings" means all hires, freights, pool income and other sums payable to
      or for the account of the Charterers and/or the Sub-Charterers in respect of the Vessel including (without limitation) all earnings received or to be received from each Sub-Charter, all remuneration for salvage and towage services, demurrage and
      detention moneys, contributions in general average, compensation in respect of any requisition for hire, and damages and other payments (whether awarded by any court or arbitral tribunal or by agreement or otherwise) for breach, termination or
      variation of any contract for the operation, employment or use of the Vessel.

   

  "Earnings Account" means, in relation to the Vessel, the US Dollar account
      in the name of the Charterers (with IBAN: [***]) opened with the Account Bank, and includes any sub account thereof and such account which is designated by the Owners
      as the earnings account for the purposes of this Charter.

   

  "Environmental Approvals" means any present or future permit, licence,
      approval, ruling, variance, exemption or other Authorisation required under the applicable Environmental Law.

   

  "Environmental Claim" means any claim, proceeding, formal notice or
      investigation by any governmental, judicial or regulatory authority or any other person which arises out of an Environmental Incident or an alleged Environmental Incident or which relates to any Environmental Law and, for this purpose, "claim"
      includes a claim for damages, compensation, contribution, injury, fines, losses and penalties or any other payment of any kind, including in relation to clean up and removal, whether or not similar to the foregoing; an order or direction to take, or
      not to take, certain action or to desist from or suspend certain action; and any form of enforcement or regulatory action, including the arrest or attachment of any asset.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    3 

    
      
 

  

   

  "Environmental Incident" means:

   

  		(a)	any release, emission, spill or discharge into the Vessel or into or upon the air, sea, land or
            soils (including the seabed) or surface water of Environmentally Sensitive Material within or from the Vessel; or

   

  		(b)	any incident in which Environmentally Sensitive Material is released, emitted, spilled or discharged
            into or upon the air, sea, land or soils (including the seabed) or surface water from a vessel other than the Vessel and which involves a collision between the Vessel and such other vessel or some other incident of navigation or operation, in
            either case, in connection with which the Vessel is actually or reasonably likely to be potentially liable to be arrested, attached, detained or injuncted and/or the Vessel and/or any Obligor and/or any operator or manager of the Vessel is at
            fault or allegedly at fault or otherwise reasonably likely to be liable to any legal or administrative action; or

   

  		(c)	any other incident in which Environmentally Sensitive Material is released, emitted, spilled or
            discharged into or upon the air, sea, land or soils (including the seabed) or surface water otherwise than from the Vessel and in connection with which the Vessel is actually or reasonably likely to be potentially liable to be arrested and/or
            where any Obligor and/or any operator or manager of the Vessel is at fault or allegedly at fault or otherwise reasonably likely to be liable to any legal or administrative action, other than in accordance with an Environmental Approval.

   

  "Environmental Law" means any present or future law or regulation relating
      to pollution or protection of human health or the environment, to conditions in the workplace, to the carriage, generation, handling, storage, use, release or spillage of Environmentally Sensitive Material or to actual or threatened releases of
      Environmentally Sensitive Material.

   

  "Environmentally Sensitive Material" means and includes all contaminants,
      oil, oil products, toxic substances and any other substance (including any chemical, gas or other hazardous or noxious substance) which is (or is capable of being or becoming) polluting, toxic or hazardous.

   

  "Fair Market Value" means the fair market value of the Vessel as
      ascertained in accordance with paragraph (b) (Valuations) of Clause 51 (Value maintenance clause).

   

  "FATCA Deduction" has the meaning given to such term in Clause 78 (FATCA).

   

  "Fifth Anniversary Date" means the date falling on the fifth (5th) anniversary of the Actual Delivery Date.

   

  "Finance Document" means any facility agreement, security document, fee
      letter and any other document designated as such by the Finance Parties and the Owners and which have been or may be (as the case may be) entered into between the Finance Parties and the Owners for the purpose of, among other things, financing or (as
      the case may be) refinancing the Actual Owners' Cost.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    4 

    
      
 

  

   

  "Finance Party" means:

   

  		(a)	any Affiliate of the Owners which is party to a Finance Document (other than the Owners and other
            entities which may have agreed or be intended as debtors and/or obligors thereunder); or

   

  		(b)	any bank or financial institution which is party to a Finance Document (other than the Owners and
            other entities which may have agreed or be intended as debtors and/or obligors thereunder),

   

  and "Finance Parties" means two or more of them.

   

  "Financial Indebtedness" means any indebtedness for or in respect of:

   

  		(a)	moneys borrowed;

   

  		(b)	any amount raised by acceptance under any acceptance credit facility or dematerialised equivalent;

   

  		(c)	any amount raised pursuant to any note purchase facility or the issue of bonds, notes, debentures,
            loan stock or similar instrument;

   

  		(d)	the amount of any liability in respect of any lease or hire purchase contract which would, in
            accordance with GAAP, be treated as a balance sheet liability;

   

  		(e)	receivables sold or discounted (other than any receivables to the extent they are sold on a
            non-recourse basis);

   

  		(f)	any amount raised under any other transaction (including any forward sale or hire purchase
            agreement) of a type not referred to in any other paragraph of this definition having the commercial effect of a borrowing;

   

  		(g)	any derivative transaction protecting against or benefit from fluctuations in any rate or price
            (and, when calculating the value of any derivative transaction, only the marked to market value (or, if any actual amount is due as a result of the termination or close out of that derivative transaction, that amount) shall be taken into
            account);

   

  		(h)	any counter indemnity obligation in respect of a guarantee, indemnity, bond, standby or documentary
            letter of credit or any other instrument issued by a bank or financial institution; and

   

  		(i)	the amount of any liability in respect of any guarantee or indemnity for any of the items referred
            to in paragraphs (a) to (h) above.

   

  "Financing Principal" means an amount which equals the difference between
      the Actual Owners' Cost and the Upfront Hire.

   

  "First Anniversary Date" means the date falling on the first (1st)
      anniversary of the Actual Delivery Date.

   

  "Flag State" means, in relation to the Vessel, The Republic of The Marshall
      Islands or such other state and/or registry as the Charterers shall nominate and as may be approved in writing by the Owners.

   

  "Fourth Anniversary Date" means the date falling on the fourth (41")
      anniversary of the Actual Delivery Date.

   

  "GAAP" means generally accepted accounting principles in the United States
      of America.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    5 

    
      
 

  

   

  "GLNG Compliance Certificate" means a certificate delivered pursuant to sub
      paragraph (i) of paragraph (m) (Compliance Certificate) of Clause 49 (Charterers' undertakings) and signed by the chief financial officer or any other authorised signatory of Guarantor One substantially in the form set out in Part I (Form

        of GLNG Compliance Certificate) of Schedule 3 (Form of Compliance Certificate).

   

  "Golar Power Compliance Certificate" means a certificate delivered pursuant
      to sub paragraph (ii) of paragraph (m) (Compliance Certificate) of Clause 49 (Charterers' undertakings) and signed by a director of Guarantor Two substantially in the form set out in Part II (Form of Golar Power Compliance
        Certificate) of Schedule 3 (Form of Compliance Certificate).

   

  "Governmental Agency" means any government or any governmental agency,
      semi-governmental or judicial entity or authority (including any stock exchange or any self-regulatory organisation established under statute).

   

  "Group" means Guarantor One, its Subsidiaries, Guarantor Two and its
      Subsidiaries from time to time.

   

  "Guarantee One" means the guarantee made or to be made by Guarantor One in
      favour of the Owners in respect of the Charterers' obligations under the MOA and this Charter.

   

  "Guarantee One Release Date" means the date on which the Owners release
      Guarantor One from its obligations under Guarantee One in accordance with Clause 50(e).

   

  "Guarantee Two" means the guarantee made or to be made by Guarantor Two in
      favour of the Owners in respect of the Charterers' obligations under the MOA and this Charter.

   

  "Guarantees" means, Guarantee Two and, until the Guarantee One Release
      Date, together with Guarantee One, and "Guarantee" means any one of them or, after the Guarantee One Release Date, Guarantee Two.

   

  "Guarantor Group" means either of Guarantor One Group and Guarantor Two
      Group.

   

  "Guarantor One" means Golar LNG Limited, a company incorporated under the
      laws of Bermuda with registered number 30506 and whose registered address is at 2nd Floor, S.E. Pearman Building, 9 Par la Ville Road, Hamilton HM11, Bermuda.

   

  "Guarantor One Group" means Guarantor One and its Subsidiaries from time to
      time.

   

  "Guarantor Two" means Golar Power Limited, a company incorporated under the
      laws of Bermuda with registration number 51481 and whose registered address is at 2nd Floor, S.E. Pearman Building, 9 Par la Ville Road, Hamilton HM11 Bermuda.

   

  "Guarantor Two Group" means Guarantor Two and its Subsidiaries from time to
      time.

   

  "Guarantors" means, together, Guarantor One and Guarantor Two and "Guarantor"
      means any one of them.

   

  "Handling Fee" means the non-refundable handling fee in the amount equal to
      one point two five cent. (1.25%) of the Financing Principal.

   

  "Hire" means each or any combination or aggregate of (as the context may
      require):

   

  		(a)	the Upfront Hire;

   

  		(b)	the relevant Principal Hire;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    6 

    
      
 

  

   

  		(c)	the relevant Variable Hire; and

   

  		(d)	the Balloon.

   

  "Hire Payment Date" means the first day of each and any Hire Period, it
      being understood that there are altogether twenty eight (28) Hire Payment Dates.

   

  "Hire Period" means each and every consecutive three (3) month period
      during the Charter Period, the first Hire Period to commence on the Actual Delivery Date and each and any successive Hire Period to commence on the last day of the preceding Hire Period, provided that if a Hire Period would otherwise extend
      beyond the expiration of the Charter Period, then such Hire Period shall terminate on the expiration of the Charter Period.

   

  "Holding Company" means, in relation to a person, any other person in
      respect of which it is a Subsidiary.

   

  "Hong Kong" means the Hong Kong Special Administrative Region of The
      People's Republic of China.

   

  "IAPPC" means a valid international air pollution prevention certificate
      for the Vessel issued under Annex VI (Regulations for the Prevention of Air Pollution from Ships) to the International Convention for the Prevention of Pollution from Ships 1973 (as modified in 1978 and 1997).

   

  "Indemnitee" has the meaning given to such term in Clause 62 (Further
        indemnities).

   

  "Innocent Owners' Interest Insurances" means all policies and contracts of
      innocent owners' interest insurance and innocent owners' additional perils (oil pollution) from time to time taken out by the Owners in relation to the Vessel.

   

  "Insurances" means all policies and contracts of insurance (including all
      entries in protection and indemnity or war risks associations) which are from time to time taken out or entered into by the Charterers in respect of or in connection with the Vessel or her increased value or her earnings and (where the context
      permits) all benefits under such contracts and policies, including all claims of any nature and returns of premium.

   

  "ISM Code" means the International Safety Management Code for the Safe
      Operation of Ships and for Pollution Prevention adopted by the International Maritime Organisation, as the same may be amended, supplemented or superseded from time to time (and the terms "safety management system", "Safety Management Certificate"
      and "Document of Compliance" have the same meanings as are given to them in the ISM Code).

   

  "ISPS Code" means the International Ship and Port Facility Security Code
      adopted by the International Maritime Organisation (as the same may be amended, supplemented or superseded from time to time).

   

  "ISSC" means a valid and current International Ship Security Certificate
      issued under the ISPS Code.

   

  "Legal Reservations" means:

   

  		(a)	the principle that equitable remedies may be granted or refused at the discretion of a court and the
            limitation of enforcement by laws relating to insolvency, reorganisation and other laws generally affecting the rights of creditors;

   

  		(b)	the time barring of claims under the Limitation Acts, the possibility that an undertaking to assume
            liability for, or indemnify a person against, non-payment of United Kingdom stamp duty may be void and defences of set off or counterclaim;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    7 

    
      
 

  

   

  		(c)	similar principles, rights and defences under the laws of any Relevant Jurisdiction; and

   

  		(d)	any reservations as to matters of law (but excluding at all times any reservations or qualifications
            as to matters of fact) referred to in the legal opinions delivered to the Owners under Clause 36 (Conditions precedent) of this Charter.

   

  "LIBOR" means the applicable Screen Rate at or about 11.00 am (London time)
      on the relevant Variable Hire Determination Date for the offering of deposits in US Dollars for a period comparable to the relevant Hire Period and, if any such rate is below zero, LIBOR will be deemed to be zero.

   

  "Limitation Acts" means the Limitation Act 1980 and the Foreign Limitation
      Periods Act 1984.

   

  "Major Casualty Amount" means five million US Dollars (US$5,000,000) or the
      equivalent in any other currency or currencies.

   

  "Manager's Undertaking" means a written undertaking and confirmation of an
      Approved Commercial Manager or (as the case may be) an Approved Technical Manager executed or to be executed in favour of the Owners.

   

  "Margin" means three point nine per cent. (3.90%) per annum.

   

  "MARPOL" means the International Convention for the Prevention of Pollution
      from Ships adopted by the International Maritime Organisation (as the same may be amended, supplemented or superseded from time to time).

   

  "Material Adverse Effect" means a material adverse effect on:

   

  		(a)	the business, operations, property or condition (financial or otherwise) of any Obligor;

   

  		(b)	the ability of any Obligor to perform its obligations under the Transaction Documents to which it is
            a party; or

   

  		(c)	the validity, legality or enforceability of any Transaction Document or the rights or remedies of
            the Owners under the Transaction Documents.

   

  "MOA" has the meaning given to such term in Clause 34 (Background).

   

  "Mortgagees' Interest Insurances" means all policies and contracts of
      mortgagees' interest insurance and mortgagees' additional perils (oil pollution) insurance from time to time taken out by any Finance Party in relation to the Vessel.

   

  "Net Sale Proceeds" means the proceeds of a sale of the Vessel received,
      net of any fees, commissions, costs, disbursements or other expenses incurred by the Owners as a result of the Owners arranging the proposed sale.

   

  "Notification Date" has the meaning given to such term in the MOA.

   

  "Obligors" means, together, the Charterers, Guarantor Two and, until the
      Guarantee One Release Date, Guarantor One and "Obligor" means any one (1) of them.

   

  "Original Financial Statements" means:

   

  		(a)	in relation to the Charterers, their unaudited quarterly management accounts for the financial
            quarter ended 30 September 2019;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    8 

    
      
 

  

   

  		(b)	in relation to Guarantor One, its audited consolidated financial statements for the financial year
            ended 31 December 2018 (the "GLNG Annual Original Financial Statements"); and

   

  		(c)	in relation to Guarantor Two, its audited consolidated financial statements for the financial year
            ended 31 December 2018 (the "Golar Power Annual Original Financial Statements") and its unaudited quarterly management accounts for the financial quarter ended 30 September 2019.

   

  "Owners' Account" has the meaning given to such term in paragraph (f) (Payment

        account information) of Clause 40 (Hire).

   

  "Owners' Bank" has the meaning given to such term in paragraph (f) (Payment

        account information) of Clause 40 (Hire).

   

  "Party" means a party to this Charter and "Parties" means both of them.

   

  "PDA" means the protocol of delivery and acceptance in relation to the
      Vessel to be executed between the Owners and the Charterers, substantially in the form of Schedule 1 (Form of Protocol of Delivery and Acceptance) hereto.

   

  "Permitted Mortgagee" means a Finance Party holding a mortgage over the
      Vessel in accordance with Clause 47 (Owners' mortgage).

   

  "Permitted Security Interest" means any:

   

  		(a)	Security Interest created by the Transaction Documents and the Finance Documents;

   

  		(b)	unless a Termination Event has occurred and is continuing, any ship repairer's or outfitter's
            possessory lien for an amount not exceeding the Major Casualty Amount;

   

  		(c)	any lien arising by operation of law in the ordinary course of her trading (other than for master's,
            officer's or crew's wages outstanding);

   

  		(d)	any lien for salvage; and

   

  		(e)	Security Interest the creation of which has been otherwise expressly permitted in writing by the
            Owners.

   

  "Potential Termination Event" means an event or circumstance which would,
      with the expiry of any permitted grace period, the giving of any notice, the lapse of time, or a determination of the Owners (or any combination of the foregoing) be a Termination Event.

   

  "Principal Hire" has the meaning given to such term in sub paragraph
      (a)(ii) of Clause 40 (Hire).

   

  "Project Documents" means, together, the Transaction Documents, any
      Sub-Charter and any Sub-Charter Guarantee.

   

  "Purchase Obligation" means the Charterers' obligation to purchase the
      Vessel at the applicable Purchase Obligation Price in accordance with Clause 56 (Purchase Obligation and transfer of title).

   

  "Purchase Obligation Date" means the date specified as such in the Purchase
      Obligation Notice on which the Charterers are obliged to or cause their nominee to purchase the Vessel for the applicable Purchase Obligation Price.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    9 

    
      
 

  

   

  "Purchase Obligation Notice" means the notice served by the Owners on the
      Charterers pursuant to paragraph (b) (Purchase Obligation - outbreak of war) of Clause 56 (Purchase Obligation and transfer of title).

   

  "Purchase Obligation Price" means:

   

  		(a)	in relation to the Purchase Obligation pursuant to paragraph (a) (Purchase Obligation expiry of
              Agreed Charter Period) of Clause 56 (Purchase Obligation and transfer of title), the aggregate of:

   

  		(i)	one hundred US Dollars (US$100.00); and

   

  		(ii)	all Unpaid Sums due and payable together with interest accrued thereon pursuant to paragraph (i) (Default

              interest) of Clause 40 (Hire) from the due date for payment thereof up to the date of actual payment;

   

  		(b)	in relation to the Purchase Obligation pursuant to paragraph (b) (Purchase Obligation - outbreak
              of war) of Clause 56 (Purchase Obligation and transfer of title), the aggregate of:

   

  		(i)	an amount equal to the then current Cost Balance;

   

  		(ii)	all Hire due and payable, but unpaid, under this Charter up to (and including) the Purchase
            Obligation Date together with interest accrued thereon pursuant to paragraph (i) (Default interest) of Clause 40 (Hire) from the due date for payment thereof to the date of actual payment;

   

  		(iii)	all other Unpaid Sums due and payable together with interest accrued thereon pursuant to paragraph
            (i) (Default interest) of Clause 40 (Hire) from the due date for payment thereof up to the date of actual payment;

   

  		(iv)	the Break Costs (if any) if the Purchase Obligation Date does not fall on a Hire Payment Date;

   

  		(v)	any legal costs incurred by the Owners in respect of the implementation of the Purchase Obligation;

   

  		(vi)	any other reasonable costs, losses, liabilities and expenses incurred or suffered by the Owners in
            connection with any Finance Document as a result of the implementation of the Purchase Obligation;

   

  		(vii)	any other sums as the Owners may be entitled to under the terms of this Charter, including (but not
            limited to) any payments referred to in paragraph (a) of Clause 17 (Indemnity) and Clause 62 (Further indemnities).

   

  "Purchase Option" means the option to purchase the Vessel at the applicable
      Purchase Option Price which the Charterers may exercise in accordance with Clause 55 (Purchase Option).

   

  "Purchase Option Date" means the date indicated in the Purchase Option
      Notice, being a Business Day on which the Charterers may exercise the Purchase Option in accordance with Clause 55 (Purchase Option).

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    10 

    
      
 

  

   

  "Purchase Option Fee" means, in respect of the relevant Purchase Option
      Date, an amount that is calculated by multiplying the then current Cost Balance by the percentage applicable to the period in which the Purchase Option Date falls (the "Relevant Period") in accordance with the following table:

   

  	Description of the Relevant Period	Percentage of Cost Balance to be 

              utilised for calculating the Purchase Option Fee (%)
	Commencing

            on (and inclusive of) the Actual Delivery Date and ending on (and inclusive of) the Second Anniversary Date	2.5
	Commencing

            on (and inclusive of) the date falling immediately after the Second Anniversary Date and ending on (and inclusive of) the Fifth Anniversary Date	1.5
	Commencing

            on (and inclusive of) the date falling immediately after the Fifth Anniversary Date	1.0

   

  "Purchase Option Notice" means a written notice (in such form as the Owners
      and the Charterers may agree) which the Charterers may deliver to the Owners for the purpose of the Charterers exercising the Purchase Option.

   

  "Purchase Option Price" means the amount due and payable by the Charterers
      to the Owners pursuant to Clause 55 (Purchase Option), always subject to the provisions of Clause 49 (x) (Deposit), being the aggregate of:

   

  		(a)	an amount equal to the then current Cost Balance;

   

  		(b)	the applicable Purchase Option Fee;

   

  		(c)	all Hire due and payable, but unpaid, under this Charter up to (and including) the Purchase Option
            Date together with interest accrued thereon pursuant to paragraph (i) (Default interest) of Clause 40 (Hire) from the due date for payment thereof to the date of actual payment;

   

  		(d)	all other Unpaid Sums due and payable together with interest accrued thereon pursuant to paragraph
            (i) (Default interest) of Clause 40 (Hire) from the due date for payment thereof up to the date of actual payment;

   

  		(e)	the Break Costs (if any) if the Purchase Option Date does not fall on a Hire Payment Date;

   

  		(f)	any legal costs incurred by the Owners in respect of the exercise of the Purchase Option;

   

  		(g)	any other reasonable costs, losses, liabilities and expenses incurred or suffered by the Owners in
            connection with any Finance Document as a result of the Charterers' exercise of the Purchase Option; and

   

  		(h)	any other sums as the Owners may be entitled to under the terms of this Charter, including (but not
            limited to) any payments referred to in paragraph (a) of Clause 17 (Indemnity) and Clause 62 (Further indemnities).

   

  "Quiet Enjoyment Letter" means:

   

  		(a)	the quiet enjoyment letter to be entered into between the Owners, any Permitted Mortgagee and the
            Charterers;

   

  		(b)	if applicable, any quiet enjoyment letter to be entered into between any Transferee pursuant to
            Clause 47 (Owners' mortgage), the Permitted Mortgagee and the Charterers; and

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    11 

    
      
 

  

   

  		(c)	if applicable, any quiet enjoyment letter to be entered into between the Owners and/or any Permitted
            Mortgagee (in relation to the Permitted Mortgagee, on a reasonable efforts only basis), the Charterers and any Sub-Charterers,

   

  in each case, in a form acceptable to all parties and, in particular, containing
      language to the effect that the Permitted Mortgagee (i) (in the absence of any Termination Event) allows the Charterers unfettered use and quiet enjoyment without interruption of the Vessel in accordance with the terms and conditions of this Charter,
      (ii) fully acknowledges the terms of this Charter, including the Purchase Option, (iii) has the right to step into this Charter in place of the Owners and (iv) undertakes for a specific period of time not to exercise any right it may have against the
      Vessel, in the case of a breach by the Owners of the Finance Documents (in the absence of any Termination Event), without the consent of the Charterers, and acknowledges that the Charterers, during such period shall have (a) a right of first refusal
      to purchase the Vessel at a price in line with (if applicable) the Purchase Option Price (less any Purchase Option Fee) or (if applicable) the then applicable Cost Balance at such time or (b) a right to arrange for an alternative financing and/or
      ownership structure.

   

  "Related Document" means any document entered into by the Charterers which
      provides loan financing or lease financing to such Charterers.

   

  "Relevant Jurisdictions" means, in relation to an Obligor:

   

  		(a)	its jurisdiction of incorporation;

   

  		(b)	any jurisdiction where any asset subject to or intended to be subject to any Security Interest to be
            created by it pursuant to the relevant Security Document is situated;

   

  		(c)	any jurisdiction where it conducts its business, or where its centre of main interest is situated or
            where its central management and control is or has recently been exercised; and

   

  		(d)	the jurisdiction whose laws govern the perfection of any of the Security Documents entered into by
            it.

   

  "Relevant Nominating Body" means any applicable central bank, regulator or
      other supervisory authority or a group of them, or any working group or committee sponsored or chaired by, or constituted at the request of, any of them or the Financial Stability Board.

   

  "Replacement Benchmark" means a benchmark rate which is:

   

  		(a)	formally designated, nominated or recommended as the replacement for the Screen Rate by:

   

  		(i)	the administrator of the Screen Rate (provided that the market or economic reality that such
            benchmark rate measures is the same as that measured by the Screen Rate); or

   

  		(ii)	any Relevant Nominating Body, and if replacements have, at the relevant time, been formally
            designated, nominated or recommended under both paragraphs, the "Replacement Benchmark" will be the replacement under paragraph (ii) above;

   

  		(b)	in the opinion of Owners and the Charterers, generally accepted in the international or any relevant
            domestic syndicated loan markets as the appropriate successor to the Screen Rate; or

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    12 

    
      
 

  

   

  		(c)	in the opinion of the Owners and the Charterers, an appropriate successor to the Screen Rate.

   

  "Requisition Compensation" means all compensation or other money which may
      from time to time be payable to the Charterers as a result of the Vessel being requisitioned for title or in any other way compulsorily acquired (other than by way of requisition for hire).

   

  "Restricted Party" means a person or entity that is (i) listed on, or owned
      or controlled by a person listed on, any Sanctions List; (ii) a national of, located in, incorporated under the laws of, or owned or (directly or indirectly) controlled by, a person located in or organised under the laws of a country or territory
      that is the target of country wide or territory wide Sanctions; or (iii) otherwise a target of Sanctions ("target of Sanctions" signifying a person with whom a US person or other national of Sanctions Authority would be prohibited or restricted by
      law from engaging in trade, business or other activities).

   

  "Sanctions" means the economic sanction laws, regulations, embargoes or
      restrictive measures administered, enacted or enforced by: (i) the United States government; (ii) the United Nations; (iii) the European Union; (iv) the United Kingdom; or (v) the respective governmental institutions and agencies of any of the
      foregoing, including, without limitation, the Office of Foreign Assets Control of the US Department of Treasury ("OFAC"), the United States Department of State and Her Majesty's Treasury ("HMT") (together, the "Sanctions Authorities").

   

  "Sanctions List" means the "Specially Designated Nationals and Blocked
      Persons" list maintained by the OFAC, the Consolidated List of Financial Sanctions Targets and the Investment Ban List maintained by HMT, or any similar list maintained by, or public announcement of Sanctions designation made by, any of the Sanctions
      Authorities.

   

  "Screen Rate" means the London interbank offered rate administered by the
      ICE Benchmark Administration Limited (or any other person which takes over the administration of that rate) for US Dollars for the relevant period displayed on page LIBOR01 or LIBOR 02 of the Thomson Reuters screen (or any replacement Thomson Reuters
      page which displays that rate) or on the appropriate page of such other information service which publishes that rate from time to time in place of Thomson Reuters. If such page or service ceases to be available, the Owners may specify another page
      or service displaying the appropriate rate after consultation with the Charterers.

   

  "Screen Rate Replacement Event" means, in relation to the Screen Rate that:

   

  		(a)	the methodology, formula or other means of determining that Screen Rate has, in the opinion of the
            Owners and the Charterers, materially changed; or
	 	 	 
	 	(b)	 
	 	 	 
	 	 	(i)

  

  		(A)	the administrator of the Screen Rate or its supervisor publicly announces that such administrator is
            insolvent; or

   

  		(B)	information is published in any order, decree, notice, petition or filing, however described, of or
            filed with a court, tribunal, exchange, regulatory authority or similar administrative, regulatory or judicial body which reasonably confirms that the administrator of the Screen Rate is insolvent, provided that, in each case, at that time,
            there is no successor administrator to continue to provide the Screen Rate;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    13 

    
      
 

  

   

  		(ii)	the administrator of the Screen Rate publicly announces that it has ceased or will cease to provide
            the Screen Rate permanently or indefinitely and, at that time, there is no successor administrator to continue to provide the Screen Rate;

   

  		(iii)	the supervisor of the administrator of the Screen Rate publicly announces that the Screen Rate has
            been or will be permanently or indefinitely discontinued; or

   

  		(iv)	the administrator of the Screen Rate or its supervisor announces that the Screen Rate may no longer
            be used; or

   

  		(c)	the administrator of that Screen Rate determines that the Screen Rate should be calculated in
            accordance with its reduced submissions or other contingency or fallback policies or arrangements and either:

   

  		(i)	the circumstance(s) or events leading to such determination are not temporary; or

   

  		(ii)	the Screen Rate is calculated in accordance with any such policy or arrangement for a period no less
            than three months; or

   

  		(d)	in the opinion of the Owners and the Charterers, the Screen Rate is otherwise no longer appropriate
            for the purposes of calculating the Variable Hire under this Charter.

   

  "Second Anniversary Date" means the date falling on the second (2nd)
      anniversary of the Actual Delivery Date.

   

  "Security Documents" means, in relation to the Vessel, collectively the
      following:

   

  		(a)	the Account Charge;

   

  		(b)	the Charterers' Assignment;

   

  		(c)	the Guarantees;

   

  		(d)	each Manager's Undertaking;

   

  		(e)	the Share Charge; and

   

  		(f)	any other document that may at any time be executed by any person guaranteeing, creating, evidencing
            or perfecting any Security Interest to secure all or part of all the Obligors' obligations under or in connection with the Transaction Documents,

   

  and "Security Document" means any one of them.

   

  "Security Interest" means a mortgage, charge (whether fixed or floating),
      pledge, lien, encumbrance, hypothecation, assignment or security interest of any kind securing any obligation of any person or any type of preferential arrangement (including, without limitation, conditional sale, title transfer and/or retention
      arrangements having a similar effect), in each case howsoever arising.

   

  "Sellers" means the Charterers in their capacity as sellers under the MOA.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    14 

    
      
 

  

   

  "Settlement Date" means, following a Total Loss of the Vessel, the earlier
      of:

   

  		(a)	the date which falls on the earlier of:

   

  		(i)	ninety (90) days after the date of occurrence of the Total Loss; and

   

  		(ii)	eighty four (84) months after the Actual Delivery Date,

   

  in each case, if such date is not a Business Day, the immediately preceding Business
      Day; and

   

  		(b)	the date on which the Owners receive the Total Loss Proceeds in respect of the Total Loss.

   

  "Seventh Anniversary Date" means the date falling on the seventh (7th)
      anniversary of the Actual Delivery Date.

   

  "Share Charge" means the charge over the entire issued share capital of the
      Charterers executed or (as the case may be) to be executed by Guarantor Two in favour of the Owners.

   

  "Shareholder Funding" means any funding provided or to be provided by
      Guarantor Two to the Charterers (and which shall be subordinated (to the satisfaction to the Owners) in all respects to any and all amounts owing by the Charterers to the Owners under the Transaction Documents).

   

  "Sixth Anniversary Date" means the date falling on the sixth (6th)
      anniversary of the Actual Delivery Date.

   

  "Sub-Charter" means any charterparty or contract of employment in respect
      of the Vessel entered into between the Charterers as disponent owners and any Sub-Charterers.

   

  "Sub-Charter Guarantee" means any guarantee provided by a Sub-Charter
      Guarantor in favour of the Charterers in respect of the relevant Sub-Charterers' obligations under the relevant Sub-Charter.

   

  "Sub-Charter Guarantor" means any Sub-Charter guarantor in connection with
      a Sub-Charter which is or will be a party to a Sub-Charter Guarantee.

   

  "Sub-Charterers" means any sub-charterers which are or will be parties to
      the relevant Sub-Charter.

   

  "Subsidiary" means a subsidiary undertaking within the meaning of section
      1162 of the Companies Act 2006.

   

  "Substitute Rate" has the meaning given to such term in paragraph (o)(i)(B)
      of Clause 40 (Hire).

   

  "Tax" or "tax" means any present and future tax (including, without
      limitation, value added tax, consumption tax or any other tax in respect of added value or any income), levy, impost, duty or other charge or withholding of any nature (including any penalty or interest payable in connection with any failure to pay
      or any delay in paying any of the same); and "Taxes", "taxes", "Taxation" and "taxation" shall be construed accordingly.

   

  "Termination" means the termination at any time of the chartering of the
      Vessel under this Charter.

   

  "Termination Event" means each of the events specified in paragraph (a) (Termination

        Events) of Clause 52 (Termination Events).

   

  "Termination Notice" means the termination notice referred to in (as the
      context may require):

   

  		(a)	paragraph (k) (Illegality) of Clause 40 (Hire); or

   

  		(b)	paragraph (c) (Owners' options after occurrence of a Termination Event) of Clause 52 (Termination
            Events).

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    15 

    
      
 

  

   

  "Termination Payment Date" means:

   

  		(a)	in respect of a Termination in accordance with paragraph (k) (Illegality) of Clause 40 (Hire),

            the date specified in the Termination Notice served on the Charterers pursuant to that Clause;

   

  		(b)	in respect of a Default Termination, the date specified in the Termination Notice served on the
            Charterers pursuant to paragraph (c) (Owners' options after occurrence of a Termination Event) of Clause 52 (Termination Events) in respect of such Default Termination; or

   

  		(c)	in respect of a Total Loss Termination, the Settlement Date in respect of the Total Loss which gives
            rise to such Total Loss Termination.

   

  "Termination Sum" means, always subject to the provisions of Clause 49 (x)
      (Deposit), an amount representing the Owners' losses as a result of a Termination prior to the expiry of the Agreed Charter Period (other than by virtue of the Charterers exercising the Purchase Option in accordance with Clause 55 (Purchase
        Option) or by virtue of the Owners delivering a Purchase Obligation Notice in accordance with paragraph (b) (Purchase Obligation – outbreak of war), which both parties acknowledge as a genuine and reasonable pre estimate of the Owners'
      losses in the event of such Termination and shall consist of the following:

   

  		(a)	an amount equal to the then current Cost Balance;

   

  		(b)	all Hire due and payable, but unpaid, under this Charter up to (and including) the relevant
            Termination Payment Date together with interest accrued thereon pursuant to paragraph (i) (Default interest) of Clause 40 (Hire) from the due date for payment thereof to the date of actual payment;

   

  		(c)	all other Unpaid Sums due and payable, together with interest accrued thereon pursuant to paragraph
            (i) (Default interest) of Clause 40 (Hire) from the due date for payment thereof up to the date of actual payment;

   

  		(d)	the Break Costs (if any) if the Termination Payment Date does not fall on a Hire Payment Date;

   

  		(e)	any legal costs incurred by the Owners in respect of the Termination;

   

  		(f)	so long as the Vessel is not being transferred to the Charterers, all liabilities, costs and
            expenses so incurred in recovering possession of, and in repositioning, berthing, insuring and maintaining the Vessel for carrying out any works or modifications required to cause the Vessel to conform with the provisions of Clauses 44 (Redelivery)
            and 45 (Redelivery conditions);

   

  		(g)	any other reasonable costs, losses, liabilities and expenses incurred or suffered by the Owners
            solely in connection with any Finance Document as a result of the Termination; and

   

  		(h)	any other sums as the Owners may be entitled to under the terms of this Charter, including (but not
            limited to) any payments referred to in paragraph (a) of Clause 17 (Indemnity) and Clause 62 (Further indemnities).

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    16 

    
      
 

  

   

  "Test Date" has the meaning given to such term in paragraph (a) (Definitions)
      of Clause 51(Value maintenance clause).

   

  "Third Anniversary Date" means the date falling on the third (3rd)
      anniversary of the Actual Delivery Date.

   

  "Third Parties Act" means the Contracts (Rights of Third Parties) Act 1999.

   

  "Title Re-Transfer PDA" means the protocol of delivery and acceptance in
      relation to the re transfer of the Vessel to be executed between the Owners and the Charterers, substantially in the form of Schedule 2 (Form of Title Re-Transfer Protocol of Delivery and Acceptance) hereto upon expiration of the Charter
      Period.

   

  "Total Loss" means, during the Charter Period:

   

  		(a)	actual or constructive or compromised or agreed or arranged total loss of the Vessel;

   

  		(b)	the requisition for title or compulsory acquisition of the Vessel by any Governmental Agency;

   

  		(c)	the capture, seizure, arrest, detention, hijacking, theft, condemnation as prize, confiscation or
            forfeiture of the Vessel (not falling within (b) above), unless the Vessel is released and returned to the possession of the Owners or the Charterers within thirty (30) days after the capture, seizure, arrest, detention, hijacking, theft,
            condemnation as prize, confiscation or forfeiture in question,

   

  and for the purpose of this Charter, (i) an actual Total Loss of the Vessel shall
      be deemed to have occurred at the date and time when the Vessel was lost but if the date of the loss is unknown the actual Total Loss shall be deemed to have occurred on the date on which the Vessel was last reported, (ii) a constructive Total Loss
      shall be deemed to have occurred at the date and time at which a notice of abandonment of the Vessel is given to the insurers of the Vessel, and (iii) a compromised, agreed or arranged Total Loss shall be deemed to have occurred on the date of the
      relevant compromise, agreement or arrangement.

   

  "Total Loss Proceeds" means the proceeds of the Insurances or any other
      compensation of any description in respect of a Total Loss unconditionally received and retained by or on behalf of the Owners in respect of a Total Loss.

   

  "Total Loss Termination" means a Termination pursuant to the provisions of
      paragraph (a) (Total Loss Termination) of Clause 57 (Total Loss).

   

  "Transaction Documents" means, together, this Charter, the MOA, the
      Security Documents and such other documents as may be designated as such by the Owners and the Charterers from time to time.

   

  "Unpaid Sum" means any sum due and payable but unpaid by any Obligor under
      the Transaction Documents.

   

  "Upfront Hire" means the non-refundable advance hire payment which the
      Charterers are obliged to pay upfront to the Owners, being an amount equal to twenty five per cent. (25%) of the Actual Owners' Cost.

   

  "US Dollars", "Dollars", "USD", "US$" and "$"
      each means available and freely transferable and convertible funds in lawful currency of the United States of America.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    17 

    
      
 

  

   

  "US Tax Obligor" means:

   

  		(a)	an obligor which is resident for tax purposes in the United States of America; or

   

  		(b)	an obligor some or all of whose payments under the Transaction Documents to which it is a party are
            from sources within the United States for US federal income tax purposes.

   

  "Valuation Report" means, in relation to the Vessel, a desktop valuation
      report (without physical inspection) addressed to the Owners from an Approved Valuer on the basis of a charter free sale for prompt delivery for cash at arm's length on normal commercial terms as between a willing seller and a willing buyer.

   

  "Variable Hire" has the meaning given to such term in sub paragraph
      (a)(iii) of Clause 40 (Hire).

   

  "Variable Hire Determination Date" means, in relation to a Hire Period, the
      date falling fourteen (14) Business Days prior to the first day of such Hire Period.

   

  "Vessel" means the 160,000 m3 LNG carrier named "Golar Celsius" as more particularly described in Boxes 5 (Vessel's name, call sign and flag) to 10 (Classification Society) of this Charter.

   

  "Vessel Management Agreement" means, in relation to the Vessel, each
      technical, commercial and/or crew management agreement executed or to be executed (as the case may be) between (a) an Approved Manager (as technical, commercial and/or crew manager (as the case may be)), and (b) the Charterers (as demise owners).

   

  		33.	Interpretations

   

  		(a)	In this Charter, unless the context otherwise requires, any reference to:

   

  		(i)	this Charter include the Schedule hereto and references to Clauses and Schedules are, unless
            otherwise specified, references to Clauses of and Schedules to this Charter and, in the case of a Schedule, to such Schedule as incorporated in this Charter as substituted from time to time;

   

  		(ii)	any statutory or other legislative provision shall be construed as including any statutory or
            legislative modification or re-enactment thereof, or any substitution therefor;

   

  		(iii)	the term "Vessel" includes any part of the Vessel;

   

  		(iv)	"assets" includes present and future properties, revenues and rights of every description;

   

  		(v)	the "Owners", the "Charterers", the "Guarantor", any "Obligor", any "Sub-Charterers"
            or any other person include any of their respective successors, permitted assignees and permitted transferees;

   

  		(vi)	a "Project Document" or any other agreement, instrument or document include such Project
            Document or other agreement, instrument or document as the same may from time to time by amended, modified, supplemented, novated or substituted;

   

  		(vii)	the "equivalent" in one currency (the "first currency") as at any date of an amount in
            another currency (the "second currency") shall be construed as a reference to the amount of the first currency which could be purchased with such amount of the second currency at the spot rate of exchange quoted by the Owners' Bank at or
            about 11:00 a.m. (Hong Kong time) two (2) business days (being a day other than Saturday or Sunday on which banks and foreign exchange markets are generally open for business in Hong Kong) prior to such date for the purpose of the first
            currency with the second currency for delivery and value on such date;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    18 

    
      
 

  

   

  		(viii)	"hereof", "herein" and "hereunder" and other words of similar import means this
            Charter as a whole (including the Schedules) and not any particular part hereof;

   

  		(ix)	"law" includes common or customary law and any constitution, decree, judgment, legislation,
            order, ordinance, regulation, rule, statute, treaty or other legislative measure in any jurisdiction or any present or future directive, regulation, request or requirement, or official or judicial interpretation of any of the foregoing, in each
            case having the force of law and, if not having the force of law, in respect of which compliance is generally customary;

   

  		(x)	"month" means, save as otherwise provided, a period starting on one day in a calendar month
            and ending on the numerically corresponding day in the next calendar month, except that if there is no numerically corresponding day in the calendar month in which that period is to end, that period shall end on the last day in that calendar
            month;

   

  		(xi)	the word "person" or "persons" or to words importing persons include, without
            limitation, any state, divisions of a state, government, individuals, partnerships, corporations, ventures, government agencies, committees, departments, authorities and other bodies, corporate or unincorporated, whether having distinct legal
            personality or not;

   

  		(xii)	the "winding-up", "dissolution", "administration", "liquidation", "insolvency",

            "reorganisation", "readjustment of debt", "suspension of payments", "moratorium" or "bankruptcy" (and their derivatives and cognate expressions) of any person shall each be construed so as to include the
            others and any equivalent or analogous proceedings or event under the laws of any jurisdiction in which such person is incorporated or any jurisdiction in which such person carries on business;

   

  		(xiii)	"protection and indemnity risks" means the usual risks covered by a protection and indemnity
            association which is a member of the International Group of P&I Clubs, including pollution risks, extended passenger cover and the proportion (if any) of any sums payable to any other person or persons in case of collision which are not
            recoverable under the hull and machinery policies by reason of the incorporation in them of clause 6 of the International Hull Clauses (1/11/02 or 1/11/03), clause 8 of the Institute Time Clauses (Hull)(1/10/83) or clause 8 of the Institute
            Time Clauses (Hulls)(1/11/1995) or the Institute Amended Running Down Clause (1/10/71) or any equivalent provision;

   

  		(xiv)	a Potential Termination Event or Termination Event is "continuing" if it has not been
            remedied or waived; and

   

  		(xv)	words denoting the plural number include the singular and vice versa.

   

  		(b)	Headings are for the purpose of reference only, have no legal or other significance, and shall be
            ignored in the interpretation of this Charter.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    19 

    
      
 

  

   

  		(c)	A time of day (unless otherwise specified) is a reference to Hong Kong time.

   

  		34.	Background

   

  		(a)	The MOA By a memorandum of agreement (the "MOA") of even date herewith made between the Owners (as
            buyers thereunder) and the Sellers (as sellers thereunder), the Owners have agreed to purchase and the Sellers have agreed to sell the Vessel subject to the terms and conditions therein.

   

  		(b)	Transfer of ownership pursuant to MOA Accordingly the parties hereby agree that this Charter is
            subject to the effective transfer of ownership of the Vessel to the Owners pursuant to the MOA.

   

  		(c)	Cancelling events If:

   

  		(i)	the Vessel is not delivered by the Cancelling Date (or such later date as the Owners and Sellers may
            agree);

   

  		(ii)	it becomes unlawful for the Owners (as buyers) to perform or comply with any or all of their
            obligations under the MOA, or any of the obligations of the Owners under the MOA is not or ceases to be legal, valid, binding and enforceable; or

   

  		(iii)	the MOA expires, is cancelled, terminated, rescinded or suspended or otherwise ceases to remain in
            full force and effect for any reason,

   

  then (notwithstanding any rights and claims which the parties to the MOA may have
      against each other under the MOA) neither Party shall be liable to the other for any claim arising out of this Charter and this Charter shall immediately terminate and be cancelled (with the exception of Clause 17 (Indemnity) (Part II) and
      Clause 62 (Further indemnities)), provided that:

   

  		(A)	the Owners shall be entitled to retain all fees paid by the Charterers pursuant to Clause 59 (Fees

              and expense) and, without prejudice to Clause 59 (Fees and expenses), if any fees which are or have been due and payable pursuant to such Clause but have not so been paid by the Charterers, the Charterers shall forthwith pay such
            fees to the Owners); and

   

  		(B)	such payment shall not be construed as a penalty but shall represent an agreed estimate of the loss
            and damage suffered by the Owners in entering into this Charter and shall therefore be paid as compensation to the Owners.

   

  		35.	Delivery

   

  		(a)	Conditions to delivery The obligation of the Owners to charter the Vessel to the
            Charterers pursuant to this Charter shall be subject to the following conditions:

   

  		(i)	delivery of the Vessel by the Charterers to the Owners pursuant to the terms of the MOA;

   

  		(ii)	the Owners obtaining full title to the Vessel pursuant to the terms of the MOA;

   

  		(iii)	no Termination Event having occurred which is continuing on or prior to the Actual Delivery Date;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    20 

    
      
 

  

   

  		(iv)	the representations and warranties referred to in Clause 48 (Charterers' representations and
              warranties) being true and correct on the date of this Charter and the Actual Delivery Date;

   

  		(v)	the Actual Delivery Date falling on or before the Cancelling Date (or such later date as may be
            agreed between the Owners (as buyer under the MOA) and the Sellers); and

   

  		(vi)	the Owners having received, or being satisfied that they will receive, the documents and evidence
            referred to in paragraph (a) (Owners' conditions precedent) of Clause 36 (Conditions precedent), in each case in all respects in form and substance satisfactory to them on or before the Actual Delivery Date.

   

  		(b)	Delivery and acceptance Provided that the conditions referred to in paragraph (a) (Conditions

              to delivery) above have been fulfilled or waived to the satisfaction of the Owners (which shall be evidenced in writing by the Owners), the Owners and the Charterers agree that:

   

  		(i)	the Charterers shall, at their own expense, upon the Actual Delivery Date arrange for the Vessel to
            be registered under the laws and flag of the Flag State and in the name of the Owners as legal owner and the Charterers as demise charterers;

   

  		(ii)	the Charterers shall take delivery of the Vessel from the Owners under this Charter (such delivery
            to be conclusively evidenced by a duly executed PDA) immediately following the acceptance of delivery of the Vessel by the Owners from the Sellers pursuant to the MOA;

   

  		(iii)	the Charterers will accept the Vessel:

   

  		(A)	on an "as is where is" basis in exactly the same form and state as the Vessel is delivered by the
            Sellers to the Owners pursuant to the MOA;

   

  		(B)	in such form and state with any faults, deficiencies and errors of description; and

   

  		(C)	for the avoidance of doubt, no underwater inspection shall be performed at the time of commencement
            of this Charter on the basis that any repairs required at the next scheduled dry docking are the responsibility of the Charterers; and

   

  		(iv)	the Charterers shall have no right to refuse acceptance of delivery of the Vessel into this Charter
            if the Vessel is delivered to the Owners pursuant to the MOA and, notwithstanding and without prejudice to the foregoing, the Owners and the Charterers nonetheless agree to enter into and execute the PDA on delivery of the Vessel under this
            Charter.

   

  		(c)	No representation or warranty from Owners The Charterers acknowledge and agree that
            the Owners are not the manufacturer or original supplier of the Vessel which has been purchased by the Owners pursuant to the MOA, and have therefore made no representations or warranties in respect of the Vessel or any part thereof, and hereby
            waive all their rights in respect of any warranty or condition implied (whether statutory or otherwise) on the part of the Owners and all claims against the Owners howsoever the same might arise at any time in respect of the Vessel, or arising
            out of the construction, operation or performance of the Vessel and the chartering thereof under this Charter (including, without limitation, in respect of the
            seaworthiness or otherwise of the Vessel).

    

  AVIC/Golar LNG – BBC Additional Clauses

  
    21 

    
      
 

  

   

  		(d)	No liability from Owners In particular, and without prejudice to the generality of
            paragraph (c) (No representation or warranty from Owners) above, the Owners shall be under no liability whatsoever, howsoever arising, in respect of the injury, death, loss, damage or delay of or to or in connection with the Vessel or
            any person or property whatsoever, whether onboard the Vessel or elsewhere, and irrespective of whether such injury, death, loss, damage or delay shall arise from the unseaworthiness of the Vessel. For the purpose of this paragraph (d), "delay"
            shall include delay to the Vessel (whether in respect of delivery under this Charter or thereafter and any other delay whatsoever).

   

  		36.	Conditions precedent

   

  		(a)	Owners' conditions precedent Notwithstanding anything to the contrary in this Charter,
            the obligations of the Owners to charter the Vessel to the Charterers under this Charter are subject to and conditional upon the Owners' receipt of following documents and evidence (in each case in form and substance acceptable to the Owners)
            on or before the Actual Delivery Date:

   

  		(i)	an original of each of the following:

   

  		(A)	the duly executed Charter;

   

  		(B)	the duly executed Security Documents together with all documents required by any of them (other than
            the acknowledgement (duly executed by the Account Bank) to the notice of charge required under the Account Charge and the letters of undertaking in respect of the Insurances and copies of the relevant policies or cover notes or entry
            certificates in respect of the Insurances duly endorsed with the interest of the Owners required under the Charterers' Assignment); and

   

  		(C)	the duly executed MOA;

   

  		(ii)	certified true copies of the memorandum and articles of association (or equivalent documents) (and
            all amendments thereto) of each Obligor and any other documents required to be filed or registered or issued under the laws of their jurisdiction of incorporation to establish their incorporation;

   

  		(iii)	certified true copies of resolutions passed at meetings of the board of directors of each Obligor
            (other than Guarantor One and Guarantor Two) and a certified true copy of an extract of resolutions passed at meetings of the board of directors of each Guarantor, each evidencing the relevant Obligor's respective approval of the Transaction
            Documents and authorising appropriate officers, directors or attorneys to execute the same and to sign all notices required to be given hereunder or thereunder on their behalf or other evidence of such approvals and authorisations as shall be
            acceptable to the Owners;

   

  		(iv)	a specimen of the signature of each person authorised by the resolution referred to in sub paragraph
            (iii) above;

   

  		(v)	a certified true copy of a certificate of good standing of each Obligor (other than the Guarantors)
            and a certified true copy of a certificate of compliance of Guarantor One, issued no earlier than ten (10) days prior to the Actual Delivery Date;

   

  		(vi)	an original certificate of an authorised signatory of each Obligor certifying that each copy
            document relating to it specified in this paragraph (a) is correct, complete and in full force and effect;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    22 

    
      
 

  

   

  		(vii)	if applicable, the original power of attorney of each Obligor under which any document (including
            the Transaction Documents) are to be executed or transactions undertaken by them;

   

  		(viii)	if applicable, copies (certified true where possible) of all Authorisations as may be necessary to
            authorise the performance by each of the Obligors of its obligations under the Transaction Documents to which it is or (as the case may be) will be a party, and the execution, validity and enforceability of such Transaction Documents;

   

  		(ix)	an original transcript of registry issued by the Flag State on the Actual Delivery Date evidencing
            that the Sellers are the owners of the Vessel and the Vessel is free from registered encumbrance and mortgages;

   

  		(x)	copies or, where applicable, electronic copies of the following:

   

  		(A)	the Original Financial Statements in relation to the Charterers and each Guarantor;

   

  		(B)	each duly executed Vessel Management Agreement;

   

  		(C)	the Vessel's current Safety Management Certificate (as such term is defined pursuant to the ISM
            Code);

   

  		(D)	each applicable Approved Technical Manager's current Document of Compliance (as such term is defined
            pursuant to the ISM Code);

   

  		(E)	the Vessel's current ISSC;

   

  		(F)	the Vessel's current IAPPC;

   

  		(G)	the Vessel's classification certificate evidencing that she is free of all conditions of class from
            the Classification Society;

   

  in each case (and where applicable) together with all addenda, amendments or supplements;

   

  		(xi)	evidence that:

   

  		(A)	all the conditions precedents under clause 8 (Conditions precedent) of the MOA have been, or,
            in the Owners' opinion, will be satisfied on the Actual Delivery Date;

   

  		(B)	the Charterers have paid (1) the Commitment Fee due from the Charterers under Clause 59 (Fees and
              expenses) on or before the Actual Delivery Date, (2) the Handling Fee and (3) all other payable fees, costs and expenses, in each case in accordance with Clause 59 (Fees and expenses);

   

  		(C)	on or immediately after the Actual Delivery Date, the Vessel will be registered (or at least
            provisionally registered, if applicable) under the laws and flag of the Flag State and in the name of the Owners with all associated costs and expenses paid by the Charterers in accordance with paragraph (b)(vii) (Other costs and expenses)
            of Clause 59 (Fees and expenses);

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    23 

    
      
 

  

   

  		(D)	the Vessel is insured in the manner required by the Transaction Documents (including, in particular,
            evidence that Innocent Owners' Interest Insurances have been arranged and that the Owners have been or will be reimbursed by the Charterers for all costs, premiums and expenses paid or incurred by the Owners in connection therewith), together
            with:

   

  		(1)	an insurance report (in form and substance acceptable to the Owners) in respect of the Insurances
            issued by an insurance adviser appointed by the Owners or confirmation satisfactory to the Owners that such an insurance report will be issued;

   

  		(2)	evidence that the relevant loss payable clause (in a form as the Owners may approve) has been or
            will be endorsed on or attached to the policies, the cover notes or certificates of entry relating to the Insurances; and

   

  		(3)	evidence that letters of undertaking (each in a form as the Owners may approve) will be issued;

   

  		(E)	the Deposit will be set off against the Actual Owners' Cost in accordance with the MOA;

   

  		(F)	the Upfront Hire will be set off against the Actual Owners' Cost in accordance with the MOA;

   

  		(G)	any process agent referred to in any Transaction Document has accepted its appointment; and

   

  		(H)	the Owners have received the Hire (other than the Upfront Hire) which is due and payable on the
            first Hire Payment Date;

   

  		(xii)	a legal opinion of the legal advisers to the Owners in each of the following relevant jurisdictions:

   

  		(A)	England and Wales;

   

  		(B)	Bermuda; and

   

  		(C)	The Republic of the Marshall Islands,

   

  or confirmation satisfactory to the Owners that such an opinion will be given; and

   

  		(xiii)	a copy of any other Authorisation or other document, opinion or assurance which the Owners
            reasonably consider to be necessary or desirable in connection with the entry into and performance of the transactions contemplated by any Transaction Document or for the validity and enforceability of any Transaction Document (including,
            without limitation in relation to or for the purposes of any financing by the Owners).

   

  		(b)	Owners' discretion regarding conditions precedent If the Owners in their sole
            discretion agree at the request of the Charterers to deliver the Vessel under this Charter to the Charterers before all of the documents and evidence required under paragraph (a) (Owners' conditions precedent) above have been delivered
            to or to the order of the Owners, the Charterers undertake to deliver all outstanding documents and evidence to or to the order of the Owners no later than seven (7) Business Days after the Actual Delivery Date (or such later date as the Owners
            may agree in writing, acting in their sole discretion). The delivery of the Vessel by the Owners to the Charterers under this Charter shall not, unless otherwise notified by the Owners (acting in their sole discretion) to the Charterers in
            writing, be taken as a waiver of the Owners' right to require production of all the documents and evidenced required by this Clause 36.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    24 

    
      
 

  

   

  		(c)	Certified true copies Each certified true copy document referred to this Clause 36
            must be certified by a director, company secretary or duly authorised representative of the relevant Obligor as being true and complete as at a date no later than the Actual Delivery Date.

   

  		(d)	Original document If any of the original documents required under paragraph (a) (Owners'

              conditions precedent) above cannot be delivered to the Owners on or prior to the Actual Delivery Date, the Owners will rely on a scanned copy of such document to proceed with the delivery of the Vessel as long as evidence that such
            original document is in transit to the Owners by courier is provided by the Charterers.

   

  		37.	Bunkers and luboils

   

  		(a)	At delivery the Charterers shall take over all bunkers, lubricating oil, water and unbroached
            provisions in the Vessel without cost.

   

  		(b)	To the extent that Clause 44 (Redelivery) applies, at redelivery the Owners shall take over
            and pay for all bunkers, unused lubricating oil, water and unbroached provisions and other consumable stores in the Vessel at the Charterers' net contract invoiced prices (including Charterers' usual discounts).

   

  		38.	Further maintenance and operation

   

  		(a)	Maintenance The good commercial maintenance practice under Clause 10 (Maintenance and
            Operation) (Part II) of this Charter shall be deemed to include:

   

  		(i)	the maintenance and operation of the Vessel by the Charterers in accordance with:

   

  		(A)	the relevant regulations, requirements and recommendations of the Classification Society;

   

  		(B)	the relevant regulations, requirements and recommendations of the country and flag of the Vessel's
            registry;

   

  		(C)	any applicable IMO regulations (including, without limitation, the ISM Code, the ISPS Code and
            MARPOL);

   

  		(D)	all other applicable regulations, requirements and recommendations; and

   

  		(E)	the Charterers' operations and maintenance manuals;

   

  		(ii)	the maintenance and operation of the Vessel by the Charterers taking into account:

   

  		(A)	engine manufacturers' recommended maintenance and service schedules;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    25 

    
      
 

  

   

  		(B)	builder's operations and maintenance manuals; and

   

  		(iii)	recommended maintenance and service schedules of all installed equipment and pipework.

   

  		(b)	Access to class records The Charterers covenant with the Owners to arrange (at the
            Charterers' costs) access to class records and inspection records for the Owners as available to the Charterers.

   

  		(c)	Extra equipment Any equipment that is found not to be required on board as a result of
            regulation or operational experience is either to be, at the Charterers' option, removed at the Charterers' expense or to be maintained in operable condition.

   

  		39.	Structural changes and alterations

   

  		(a)	The Charterers shall make no structural changes in the Vessel or changes in the machinery, engines,
            appurtenances or spare parts thereof without in each instance first securing the Owners' consent thereto except where any such change:

   

  		(i)	does not have a material adverse effect on the Vessel's certification or the Vessel's fitness for
            purpose; and

   

  		(ii)	will not materially diminish the value of the Vessel and/or have a material adverse effect on the
            safety, performance, value or marketability of the Vessel.

   

  		(b)	Upon the occurrence of any Termination Event which is continuing, and if the Vessel is not being
            transferred to the Charterers pursuant to and in accordance with paragraph (g) (Transfer of title) of Clause 52 (Termination Events) and the Owners decide to retake possession of the Vessel pursuant to paragraph (d) of Clause 52 (Termination

              Events), then the Charterers shall, in each case at their expense, restore the Vessel to its former condition unless the changes made are carried out:

   

  		(i)	with the prior written consent of the Owners; or

   

  		(ii)	to improve the performance, operation or marketability of the Vessel; or

   

  		(iii)	as a result of a regulatory compliance.

   

  		(c)	Any improvement, structural changes or new equipment becoming necessary for the continued operation
            of the Vessel by reason of new class requirements or by compulsory legislation shall be for the Charterers' account and the Charterers shall not have any right to recover from the Owners any part of the cost for such improvements, changes or
            new equipment either during the Charter Period, or at redelivery of the Vessel. Unless otherwise requested by the Owners, the Charterers shall not remove any such improvement structural changes or new equipment at redelivery of the Vessel. The
            Charterers shall upon request give written notice to the Owners of any such improvement, structural changes or new equipment.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    26 

    
      
 

  

   

  		40.	Hire

   

  		(a)	Hire during Charter Period In consideration of the Owners' agreement to charter the Vessel to the
            Charterers during the Charter Period pursuant to the terms hereof, the Charterers shall pay (or, in respect of the Upfront Hire only and subject to compliance with paragraph (i) below, be deemed to have paid) to the Owners each of the following
            sums on the relevant dates as follows:

    

  		(i)	by way of advance hire which is payable upfront, an amount equal to the Upfront Hire on or before
            the Actual Delivery Date which:

   

  		(A)	is non-refundable under any circumstances; and

   

  		(B)	shall be set off against the Actual Owners' Cost in accordance with the MOA;

   

  		(ii)	by way of principal hire (each a "Principal Hire") on each Hire Payment Date an amount equal
            to one twenty eighth (1/28th) of the difference between (A) the Financing Principal and (B) the Balloon; and

   

  		(iii)	by way of variable hire (each a "Variable Hire"), the variable hire then payable on the
            corresponding Hire Payment Date. The amount of Variable Hire payable on each Hire Payment Date is calculated in accordance with the following formula:

   

  A x B x C

   

  whereby

   

  A = (in relation to the first Hire Payment Date) the Financing Principal or (in
      relation to any other Hire Payment Date) the Cost Balance immediately prior to the relevant Hire Payment Date

   

  B = the aggregate of the Margin and the Applicable Rate for the relevant Hire
      Period commencing on that Hire Payment Date

   

  C = a fraction whose denominator is three hundred and sixty (360) and numerator
      is the number of days which will elapse from that Hire Payment Date (including that date) until, in respect of the Hire Payment Date of the final Hire Period during the Charter Period, the last day of such Hire Period (including that day), and, in
      respect of all other Hire Payment Dates, the next Hire Payment Date (not including that date).

   

  		(b)	Payment of Balloon Unless (i) the Purchase Option Price or (ii) the Termination Sum
            has been, in each case, paid in full in accordance with the terms of this Charter, the Charterers shall pay to the Owners, on the final Hire Payment Date and in addition to any Principal Hire and Variable Hire, an amount equal to the Balloon.

   

  		(c)	Accrual of Variable Hire For the purpose of determining any Hire payment under
            paragraph (a) (Hire during Charter Period) above, Variable Hire shall accrue from and including the first (1st) day of the relevant Hire Period.

   

  		(d)	Payment of Hire Each Hire payment shall be made in advance on each Hire Payment Date
            (Hong Kong time) (in respect of which time is of the essence) with the first Hire Payment Date falling on the Actual Delivery Date. The Charterers shall, no later than 4:00 p.m. (Hong Kong time) on the relevant Hire Payment Date (in respect of
            which time is of the essence), provide the Owners with documentary evidence showing that the amount of the Hire for the relevant Hire Period has been remitted to the Owners' Account on or before the relevant Hire Payment Date.

   

  		(e)	Non Business Day Any payment provided herein due on any day which is not a Business
            Day shall be payable on the preceding Business Day.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    27 

    
      
 

  

   

  		(f)	Payment account information All payments under this Charter shall be made to the
            account opened in the name of the Owners with such bank as the Owners may choose in Hong Kong (the "Owners' Bank"), the details of which shall be notified by the Owners to the Charterers at least five (5) Business Days prior to the first
            Hire Payment Date (or such other account as the Owners may from time to time notify the Charterers in writing at least five (5) Business Days before the due date for payment) (the "Owners' Account") for credit to the account of the
            Owners.

   

  		(g)	Charterers' Hire payment obligation absolute Following delivery of the Vessel to, and
            acceptance by, the Charterers under this Charter, the Charterers' obligation to pay Hire in accordance with this Clause 40 shall be absolute irrespective of any contingency whatsoever including but not limited to:

   

  		(i)	any set off (other than any set off referred to in this Clause 40), counterclaim, recoupment,
            defence or other right which either party to this Charter may have against the other;

   

  		(ii)	any unavailability of the Vessel, for any reason, including but not limited to any action or
            inaction by any Sub-Charterers, seaworthiness, condition, design, operation, merchantability or fitness for use or purpose of the Vessel or any apparent or latent defects in the Vessel or its machinery and equipment or the ineligibility of the
            Vessel for any particular use or trade or for registration of documentation under the laws of any relevant jurisdiction or lack of registration or the absence or withdrawal of any consent required under the applicable law of any relevant
            jurisdiction for the ownership, chartering, use or operation of the Vessel or any damage to the Vessel;

   

  		(iii)	any lack or invalidity of title or any other defect in title, provided such lack or invalidity of
            title or defect does not affect the quiet and peaceful use, possession and enjoyment of the Vessel;

   

  		(iv)	any failure or delay on the part of either party to this Charter, whether with or without fault on
            its part, in performing or complying with any of the terms, conditions or other provisions of this Charter;

   

  		(v)	any insolvency, bankruptcy, reorganisation, arrangement, readjustment of debt, dissolution,
            administration, liquidation or similar proceedings by or against the Owners, any Obligor or Sub-Charterers, or any change in the constitution of the Owners, any Obligor or Sub-Charterers;

   

  		(vi)	any invalidity or unenforceability or lack of due authorisation of or any defect in this Charter or
            any Sub-Charter; or

   

  		(vii)	any other cause which would but for this provision have the effect of terminating or in any way
            affecting the obligations of the Charterers hereunder,

   

  it being the intention of the parties that the provisions of this Clause 40, and the
      obligation of the Charterers to pay Hire and make any payments under this Charter, shall (save as expressly provided in this Clause 40) survive any frustration and that, save as expressly provided in this Charter, no moneys paid under this Charter by
      the Charterers to the Owners shall in any event or circumstance be repayable to the Charterers. For the avoidance of doubt, the obligation of Charterers to pay Hire under this Charter shall not be affected by any breach of this Charter by the Owners,
      it being understood that the Charterers shall, in the event of such breach, be entitled to claim compensation for their losses, documented damages or expenses (excluding Hire paid under this Charter).

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    28 

    
      
 

  

   

  		(h)	All payments free from deductions

   

  		(i)	All payments of Hire and all other Unpaid Sums to the Owners pursuant to this Charter and the other
            relevant Transaction Documents shall be made in immediately available funds in US Dollars and free and clear of, and without deduction for or on account of, any bank charges and any Taxes (including a FATCA Deduction).

   

  		(ii)	In the event that the Charterers are required by any law or regulation to make any deduction or
            withholding (including a FATCA Deduction) on account of any taxes which arise as a consequence of any payment due under this Charter, then:

   

  		(A)	the Charterers shall notify the Owners promptly after they become aware of such requirement;

   

  		(B)	the Charterers shall remit the amount of such taxes to the appropriate taxation authority within any
            applicable time limits and in any event prior to the date on which penalties attach thereto; and

   

  		(C)	such payment shall be increased by such amount as may be necessary to ensure that the Owners receive
            a net amount which, after deducting or withholding such taxes, is equal to the full amount which the Owners would have received had such payment not been subject to such taxes.

   

  		(iii)	The Charterers shall forward to the Owners evidence reasonably satisfactory to the Owners that any
            such taxes have been remitted to the appropriate taxation authority within thirty (30) days of the expiry of any time limit within which such taxes must be so remitted or, if earlier, the date on which such taxes are so remitted.

   

  		(iv)	Mitigation The Owners shall, subject to sub paragraph (v) (Limitation of liability)
            below and in consultation with the Charterers, take all reasonable steps to mitigate any circumstances which arise and which would result in any amount becoming payable under or pursuant to any of this paragraph (h) or Clause 41 (Increased
              Costs), including (but not limited to) transferring their rights and obligations under the Transaction Documents to an Affiliate (in accordance with Clause 47 (Owners' mortgage). The above does not in any way limit the obligations
            of any Obligor under the Transaction Documents.

   

  		(v)	Limitation of liability The Charterers shall promptly indemnify the Owners for all
            costs and expenses reasonably incurred by the Owners as a result of steps taken by the Owners under sub paragraph (iv) (Mitigation) above. The Owners are not obliged to take any steps under sub paragraph (iv) (Mitigation) above if, in their
            opinion (acting reasonably), to do so might be prejudicial to them.

   

  		(i)	Default interest Subject to paragraph (a)(i) (Non-payment) of Clause 52 (Termination

              Events), if the Charterers fail to pay any amount payable by it under a Transaction Document on its due date, interest shall accrue on the Unpaid Sum from the due date up to the date of actual payment (both before and after judgment) at a
            rate which is two per cent. (2%) per annum higher than the aggregate of the Margin and the Applicable Rate which would have been payable if the Unpaid Sum had, during the period of non-payment, constituted the Cost Balance for successive Hire
            Periods. Any interest accruing under this paragraph (i) shall be immediately payable by the Charterers on demand by the Owners. Default interest (if unpaid)

   

  arising on an Unpaid Sum will be compounded with the Unpaid Sum at the end of each
      Hire Period applicable to that Unpaid Sum but will remain immediately due and payable.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    29 

    
      
 

  

   

  		(j)	Hire payment obligation to survive termination In the event that this Charter is
            terminated for whatever reason, the Charterers' obligation to pay Hire and such other Unpaid Sum which (in each case) has accrued due before, and which remains unpaid, at the date of such termination shall continue notwithstanding such
            termination.

   

  		(k)	Illegality In the event that it becomes unlawful or it is prohibited for the Owners
            to charter the Vessel to the Charterers pursuant to this Charter, then the Owners shall notify the Charterers of the relevant event and negotiate in good faith with the Charterers for a period of thirty (30) days from the date of the receipt of
            the relevant notice by the Charterers to agree an alternative. If such agreement is not reached within such thirty (30) day period, the Parties agree that, in such circumstances, the Owners shall have the right to terminate this Charter by
            delivering to the Charterers a termination notice specifying a Termination Payment Date, whereupon the Charterers shall be obliged to pay to the Owners the Termination Sum on the Termination Payment Date and comply with such other terms and
            conditions as may be specified in such termination notice.

   

  		(1)	Break Costs The Charterers shall, within three (3) Business Days of the Owners'
            demand, pay to the Owners the Break Costs.

   

  		(m)	Certificates and determinations Any certification or determination by the Owners of a
            rate or amount under any Transaction Document is, in the absence of fraud or manifest error, conclusive evidence of the matters to which it relates.

   

  		(n)	Day count convention Any Hire, interest, commission or fee accruing under an
            Transaction Document will accrue from day to day and is calculated on the basis of the actual number of days that will elapse or have elapsed and a year of 360 days (or, where the amount is payable in a currency other than US Dollars, such
            period as is customary for such currency).

   

  		(o)	Alternative rate

   

  		(i)	If a Screen Rate Replacement Event has occurred,

   

  		(A)	the Owners and the Charterers shall enter into negotiations, taking into account the then current
            market standards and with a view to agreeing on a Replacement Benchmark and any other amendment or waiver which relates to:

   

  		(1)	aligning any provision of any Transaction Document to the use of that Replacement Benchmark;

   

  		(2)	enabling that Replacement Benchmark to be used for the calculation of Variable Hire under this
            Charter (including, without limitation, any consequential changes required to enable that Replacement Benchmark to be used for the purposes of this Charter);

   

  		(3)	implementing market conventions applicable to that Replacement Benchmark;

   

  		(4)	providing for appropriate fallback (and market disruption) provisions for that Replacement
            Benchmark; or

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    30 

    
      
 

  

   

  		(5)	adjusting the pricing to reduce or eliminate, to the extent reasonably practicable, any transfer of
            economic value from one Party to another as a result of the application of that Replacement Benchmark (and if any adjustment or method for calculating any adjustment has been formally designated, nominated or recommended by the Relevant
            Nominating Body, the adjustment shall be determined on the basis of that designation, nomination or recommendation), and

   

  		(B)	until such time as a Replacement Benchmark and the related amendments have been agreed and without prejudice to the
            obligation of the Parties to enter into negotiations with a view to agreeing a Replacement Benchmark pursuant to sub paragraph (i) above, for any Hire Period of which the Variable Hire Determination Date falls upon or after the occurrence of a
            Screen Rate Replacement Event, the rate to be used for the purpose of calculating the Variable Hire for such Hire Period shall be the rate notified by the Owners to the Charterers two (2) Business Days prior to the first day of that Hire
            Period, to be that which expresses as a percentage rate per annum the cost to the Owners of funding the Cost Balance from whatever source they may reasonably select and if such rate is less than zero then it shall be deemed to be zero (the "Substitute

              Rate").

   

  		(ii)	If sub paragraph (i) above applies, the Charterers shall, within three (3) Business Days of demand,
            reimburse the Owners for the amount of all costs and expenses (including legal fees) reasonably incurred by the Owners in responding to, evaluating, negotiating or complying with paragraph (i) above. This shall include, for the avoidance of
            doubt, any costs and expenses incurred in relation to ensuring that all the Transaction Documents remain valid and fully perfected following any amendment or waiver.

   

  		41.	Increased Costs

   

  		(a)	Increased Costs Subject to paragraph (c) (Exceptions) below, the Charterers
            shall, within three (3) Business Days of a demand by the Owners, pay to the Owners the amount of any Increased Costs incurred by the Owners as a result of:

   

  		(i)	the introduction of or any change in (or in the interpretation, administration or application of)
            any law or regulation;

   

  		(ii)	compliance with any law or regulation made after the date of this Charter.; or

   

  		(iii)	the implementation or application of or compliance with Basel III, CRR or CRD IV or any other law or
            regulation which implements Basel III, CRR or CRD IV (whether such implementation, application or compliance is by a government, regulator or the Owners).

   

  In this Charter:

   

  		(i)	"Basel III" means:

   

  		(A)	the agreements on capital requirements, a leverage ratio and liquidity standards contained in "Basel
            III: A global regulatory framework for more resilient banks and banking systems", "Basel III: International framework for liquidity risk measurement, standards and monitoring" and "Guidance for national authorities operating the countercyclical
            capital buffer" published by the Basel Committee on Banking Supervision in December 2010, each as amended, supplemented or restated;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    31 

    
      
 

  

   

  		(B)	the rules for global systemically important banks contained in "Global systemically important banks:
            assessment methodology and the additional loss absorbency requirement — Rules text" published by the Basel Committee on Banking Supervision in November 2011, as amended, supplemented or restated; and

   

  		(C)	any further guidance or standards published by the Basel Committee on Banking Supervision relating
            to "Basel III".

   

  		(ii)	"CRD IV" means Directive 2013/36/EU of the European Parliament and of the Council of 26 June
            2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC, as amended, supplemented or
            restated.

   

  		(iii)	"CRR" means Regulation EU No 575/2013 of the European Parliament and of the Council of 26
            June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation EU No 648/2012, as amended, supplemented or restated.

   

  		(iv)	"Increased Costs" means:

   

  		(A)	a reduction in the rate of return from the Hire or on the Owners' overall capital;

   

  		(B)	an additional or increased cost; or

   

  		(C)	a reduction of any amount due and payable under any Transaction Document,

   

  which is incurred or suffered by the Owners to the extent that it is attributable
      to the Owners having entered into any Transaction Document or funding or performing its obligations under any Transaction Document.

   

  		(b)	Increased Cost claims

   

  		(i)	The Owners shall promptly notify the Charterers of any claim arising from paragraph (a) (Increased

              Costs) above and of the event giving rise to such claim.

   

  		(ii)	The Owners shall, as soon as practicable after having made a demand in respect of such claim,
            provide a certificate confirming the amount of their Increased Costs.

   

  		(c)	Exceptions Paragraph (a) (Increased Costs) above does not apply to the extent
            that any Increased Cost is:

   

  		(i)	compensated for by a payment made under sub paragraph (h)(ii)(C) (All payments free from
              deductions) of Clause 40 (Hire);

   

  		(ii)	compensated for by a payment made under Clause 60 (Stamp duties);

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    32 

    
      
 

  

   

  		(iii)	attributable to a FATCA Deduction required to be made by either Party, an Obligor or a Finance Party
            (if applicable);

   

  		(iv)	attributable to the wilful breach by the Owners of any law or regulation; or

   

  		(v)	attributable to the implementation or application of, or compliance with, the "International
            Convergence of Capital Measurement and Capital Standards, a Revised Framework" published by the Basel Committee on Banking Supervision in June 2004 in the form existing on the date of this Charter (but excluding any amendment arising out of
            Basel III) ("Basel II") or any other law or regulation which implements Basel II (whether such implementation, application or compliance is by a government, regulator or the Owners).

   

  		42.	Insurance

   

  		(a)	Charterers' obligation to place insurance During the Agreement Term, the Charterers
            shall at their expense keep the Vessel insured against fire and usual marine risks (including hull and machinery and excess risks), oil pollution liability risks, war (including, if applicable, "War Risks" as defined in paragraph (a) of Clause
            26 (War)), protection and indemnity risks (and any risks against which it is compulsory to insure for the operation for the Vessel) (and if the Vessel trades in Japan, social responsibility risks (if required by the port or terminal
            owner) on industry standard terms applicable at the time or on such other terms as the Owners shall in writing approve):

   

  		(i)	in US Dollars; and

   

  		(ii)	in such market and on such terms as the Owners shall approve in writing.

   

  		(b)	Beneficiaries of insurances Such insurances shall be arranged by the Charterers to
            protect the interests of the Owners, the Charterers and (if any) the Finance Parties, and the Charterers shall be at liberty to protect under such insurances the interests of any Approved Manager and the interest of any other named assured or
            co assured provided that:

   

  		(i)	the interest of such Approved Manager, other named assured or co assured is limited:

   

  		(A)	in respect of any insurances for hull and machinery and war risks:

   

  		(1)	to any provable out of pocket expenses that they have incurred and which form part of any
            recoverable claim on underwriters; and

   

  		(2)	to any third party liability claims where cover for such claims is provided by the policy (and then
            only in respect of discharge of any such claims made specifically against them); and

   

  		(B)	in respect of any insurances for protection and indemnity risks, to any recoveries they are entitled
            to make by way of reimbursement following discharge of any third party liability claims made specifically against them; and

   

  		(ii)	if required by the Owners and/or the Finance Parties, each such Approved Manager, other named
            assured or co assured shall execute an undertaking in favour of the Owners and/or the Finance Parties confirming paragraph (i) above, each in form and substance acceptable to the Owners and/or the Finance Parties.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    33 

    
      
 

  

   

  		(c)	Scope of insurance The policies of Insurance shall cover the Owners, the Charterers
            and (if any) the Finance Parties according to their respective interests. Subject to the approval of the Owners (acting on the instructions or with the approval of the Finance Parties (in each case if applicable)) and the insurers, the
            Charterers shall effect all insured repairs and shall undertake settlement and reimbursement from the insurers of all costs in connection with such repairs as well as insured charges, expenses and liabilities to the extent of coverage under the
            insurances herein provided for.

   

  		(d)	Repairs etc. not covered by Insurances The Charterers shall also remain responsible
            for and to effect repairs and settlement of costs and expenses incurred thereby in respect of all other repairs not covered by the Insurance and/or not exceeding any possible franchise(s) or deductibles provided for in the Insurance.

   

  		(e)	H&M and war risks coverage The Charterers shall arrange that, at any time during
            the Agreement Term, the hull and machinery and war risks insurance (including increased value insurance) shall be:

   

  		(i)	in an amount not less than the greater of:

   

  		(A)	one hundred and twenty per cent. (120%) of the Cost Balance at that time; and

   

  		(B)	the latest Fair Market Value of the Vessel ascertained prior to such time.

   

  		(ii)	effected through first class international insurers or underwriter acceptable to the Owners; and

   

  		(iii)	on industry standard terms applicable at the time or otherwise on terms acceptable to the Owners.

   

  		(f)	Protection and indemnity coverage The Vessel shall be entered in Skuld or other
            protection and indemnity association which is a member of the International Group of P&I Clubs (the "IG") acceptable to the Owners on customary terms and shall be covered against liability for pollution claims in an amount not less
            than one thousand million US Dollars (US$1,000,000,000) or the maximum amount of cover from time to time provided by members of the IG (if such maximum amount of cover is higher than one thousand million US Dollars (US$1,000,000,000)). The
            P&I cover shall include freight, demurrage and defence cover. All insurances shall include customary protection in favour of the Owners and (if any) the Finance Parties such as notice of cancellation and exclusion from liability for
            premiums or calls.

   

  		(g)	Placing of Insurances Without prejudice to paragraph (e) (H&M and war risks
            coverage) or (1) (Protection and indemnity coverage) above, the Charterers undertake to place the Insurances in such markets, in such currency, on such terms and conditions, and (unless any Insurances are placed directly and not through a
            broker) with an Approved Broker or such other first class and reputable brokers as the Owners shall have approved in writing.

   

  		(h)	No alteration to terms of Insurances The Charterers shall not materially alter the
            terms of any of the Insurances nor allow any person to be co assured under any of the Insurances without the prior written consent of the Owners (such consent not to be unreasonably withheld or delayed). The Charterers shall, (A) no later than
            seven (7) days before the Actual Delivery Date and (B) at any other time upon request of the Owners, supply the Owners with such information as the Owners may in their discretion require with regard to the terms of the Insurances and the
            brokers, underwriters or associations through or with which the Insurances are placed.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    34 

    
      
 

  

   

  		(i)	Insurance report The Charterers shall:

   

  		(i)	reimburse the Owners on demand all costs and expenses incurred by the Owners in obtaining a report
            on the adequacy of the Insurances from an insurance adviser instructed by the Owners which report may be obtained no more than once per calendar year provided that if the terms of any of the Insurances are altered subsequent to a report being
            obtained, the Owners may obtain a further report in that calendar year and the Charterers shall reimburse the Owners on demand all costs and expenses incurred by the Owners in obtaining such further report; and

   

  		(ii)	procure that there is delivered to such insurance adviser all such information in relation to the
            Insurances as such insurance adviser may reasonably require.

   

  		(j)	Payment of premiums etc. The Charterers undertake duly and punctually to pay all
            premiums, calls and contributions, and all other sums at any time payable in connection with the Insurances, and, at their own expense, to arrange and provide any guarantees from time to time required by any underwriters, protection and
            indemnity or war risks association. From time to time at the Owners' request, the Charterers will provide the Owners with evidence satisfactory to the Owners that such premiums, calls, contributions and other sums have been duly and punctually
            paid; that any such guarantees have been duly given; and that all declarations and notices required by the terms of any of the Insurances to be made or given by or on behalf of the Charterers to brokers, underwriters or associations have been
            duly and punctually made or given.

   

  		(k)	Compliance with Insurances The Charterers will comply in all respects with all terms
            and conditions of the Insurances and will make all such declarations to brokers, underwriters and associations as may be required to enable the Vessel to operate in accordance with the terms and conditions of the Insurances. The Charterers will
            not do, nor permit to be done, any act, nor make, nor permit to be made, any omission, as a result of which any of the Insurances may become liable to be suspended, cancelled or avoided, or may become unenforceable, or as a result of which any
            sums payable under or in connection with any of the Insurances may be reduced or become liable to be repaid or rescinded in whole or in part. In particular, but without limitation, the Charterers will not permit the Vessel to be employed other
            than in conformity with the Insurances without first taking out additional insurance cover in respect of that employment in all respects to the satisfaction of the Owners, and the Charterers will promptly notify the Owners of any new material
            requirement imposed by any broker, underwriter or association in relation to any of the Insurances.

   

  		(l)	Renewal of Insurances The Charterers will no later than seven (7) days before the
            expiry of any of the Insurances renew them and shall immediately give the Owners and, if applicable, the Finance Parties such details of those renewals as the Owners and, if applicable, the Finance Parties may require.

   

  		(m)	Delivery of documents relating to Insurances The Charterers shall:

   

  		(i)	deliver to the Owners and, if applicable, the Finance Parties, copies of all policies, certificates
            of entry (endorsed with the appropriate loss payable clauses as may be required by the Owners and, if applicable, the Finance Parties from time to time) and such other documents relating to the Insurances as may be required by the Owners and,
            if applicable, the Finance Parties;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    35 

    
      
 

  

   

  		(ii)	procure that a loss payable clause (substantially in the form attached to the Charterers'
            Assignment) or, in the case of entries in a protection and indemnity association, a note of the Owners' interest in such form as the Owners may approve (acting reasonably in line with applicable market standard), shall be endorsed on or
            attached to the policies, cover notes or certificates of entry relating to the Insurances; and

   

  		(iii)	procure that letters of undertaking (in such form as the Owners and, if applicable, the Finance
            Parties may approve) shall be issued to the Owners and, if applicable, the Finance Parties by the brokers, underwriters or associations through which the Insurances are placed (or, in the case of protection and indemnity or war risks
            associations, by their managers).

   

  		(n)	Fleet cover If the Vessel is at any time during the Agreement Term insured under any
            form of fleet cover (other than in relation to the Vessel's entry in a protection and indemnity association or war risks associations (if applicable)), the Charterers shall procure that those letters of undertaking contain confirmation that the
            brokers, underwriters or association (as the case may be) will not set off claims relating to the Vessel against premiums, calls or contributions in respect of any other vessel or other insurance, and that the insurance cover of the Vessel will
            not be cancelled by reason of non-payment of premiums, calls or contributions relating to any other vessel or other insurance. Failing receipt of those confirmations, the Charterers will instruct the brokers, underwriters or association
            concerned to issue a separate policy or certificate for the Vessel in the sole name of the Charterers or of the Charterers' brokers as agents for the Charterers.

   

  		(o)	Provision of information on casualty, accident or damage The Charterers shall promptly
            provide the Owners and, if applicable, the Finance Parties with full information regarding any casualty or other accident or damage to the Vessel the repair costs of which (whether before or after adjudication) would reasonably be expected to
            exceed the Major Casualty Amount including, without limitation, any communication with all parties involved in case of a claim under any of the Insurances.

   

  		(p)	Step in rights of Owners and Finance Parties The Charterers agree that, on and at any time after the
            occurrence of a Termination Event which is continuing, the Owners and, if applicable, the Finance Parties shall be entitled to:

   

  		(i)	collect, sue for, recover and give a good discharge for all claims in respect of any of the
            Insurances;

   

  		(ii)	pay collecting brokers the customary commission on all sums collected in respect of those claims;

   

  		(iii)	compromise all such claims or refer them to arbitration or any other form of judicial or
            non-judicial determination; and

   

  		(iv)	otherwise deal with such claims in such manner as the Owners and, if applicable, the Finance Parties
            shall in their discretion think fit.

   

  		(q)	Total loss insurance proceeds Whether or not a Termination Event shall have occurred, the proceeds
            of any claim under any of the Insurances in respect of a Total Loss shall be paid and applied in accordance with Clause 57 (Total Loss).

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    36 

    
      
 

  

   

  		(r)	Disputes with brokers, underwriters or associations In the event of any claim in
            respect of any of the Insurances (other than in respect of a Total Loss), if the Charterers shall fail to reach agreement with any of the brokers, underwriters or associations for the immediate restoration of the Vessel, or for payment to third
            parties, within such time as the Owners and, if applicable, the Finance Parties may stipulate, the Owners and, if applicable, the Finance Parties shall be entitled to require payment to themselves. In the event of any dispute arising between
            the Charterers and any broker, underwriter or association with respect to any obligation to make any payment to the Charterers or to the Owners and/or (if applicable) the Finance Parties under or in connection with any of the Insurances, or
            with respect to the amount of any such payment, the Owners and/or (if applicable) the Finance Parties shall be entitled to settle that dispute directly with the broker, underwriter or association concerned. Any such settlement shall be binding
            on the Charterers.

   

  		(s)	Payment of insurance proceeds

   

  		(i)	The Owners agree that any amounts which may become due under any protection and indemnity entry or
            insurance shall be paid to the Charterers to reimburse the Charterers for, and in discharge of, the loss, damage or expense in respect of which they shall have become due, unless, at the time the amount in question becomes due, a Termination
            Event shall have occurred and is continuing, in which event the Owners shall be entitled to receive the amounts in question and to apply them either:

   

  		(A)	in reduction of the Termination Sum owed by the Charterers pursuant to paragraph (e) of Clause 52 (Termination

              Events); or

   

  		(B)	at the option of the Owners, to the Charterers and/or other third parties in discharge of the
            liability in respect of which they were paid.

   

  		(ii)	Without prejudice to the forgoing and subject to the terms of the Finance Documents (if any), all
            other claims in relation to the Insurances (other than in respect of a Total Loss), shall, unless and until the occurrence of a Termination Event which is continuing, in which event all claims under the relevant policy shall be payable directly
            to the Owners, be payable as follows:

   

  		(A)	a claim in respect of any one casualty where the aggregate claim against all insurers does not
            exceed the Major Casualty Amount, prior to adjustment for any franchise or deductible under the terms of the relevant policy, shall be paid directly to the Charterers (as agent for the Owners) for the repair, salvage or other charges involved
            or as a reimbursement if the Charterers fully repaired the damage to the satisfaction of the Owners and paid all of the salvage or other charges; or

   

  		(B)	a claim in respect of any one casualty where the aggregate claim against all insurers exceeds the
            Major Casualty Amount prior to adjustment for any franchise or deductible under the terms of the relevant policy shall, subject to the prior written consent of the Owners, be paid to the Charterers as and when the Vessel is restored to her
            former state and condition and the liability in respect of which the insurance loss is payable is discharged, and provided that the insurers may with such consent make payment on account of repairs in the course of being effected but, in the
            absence of such prior written consent shall be payable directly to the Owners.

   

  		(t)	Settlement, compromise or abandonment of claims The Charterers shall not settle,
            compromise or abandon any claim under or in connection with any of the Insurances (other than a claim of less than the Major Casualty Amount arising other than from a Total Loss) without the prior written consent of the Owners and, if
            applicable, the Finance Parties.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    37 

    
      
 

  

   

  		(u)	Owners' rights to maintain Insurances If the Charterers fail to effect or keep in
            force the Insurances, the Owners may (but shall not be obliged to) effect and/or keep in force such insurances on the Vessel and such entries in protection and indemnity or war risks associations as the Owners in their discretion consider
            desirable, and the Owners may (but shall not be obliged to) pay any unpaid premiums, calls or contributions. The Charterers will reimburse the Owners from time to time on demand for all such premiums, calls or contributions paid by the Owners,
            together with interest calculated in accordance with paragraph (i) (Default interest) of Clause 40 (Hire) from the date of payment by the Owners until the date of reimbursement.

   

  		(v)	Environmental protection issues The Charterers shall comply strictly with the
            requirements of any legislation relating to pollution or protection of the environment which may from time to time be applicable to the Vessel in any jurisdiction in which the Vessel shall trade and in particular the Charterers shall comply
            strictly with the requirements of the United States Oil Pollution Act 1990 (the "Act") if the Vessel is to trade in the United States of America and Exclusive Economic Zone (as defined in the Act). Before any such trade is commenced and
            during the entire period during which such trade is carried on, the Charterers shall:

   

  		(i)	pay any additional premiums required to maintain protection and indemnity cover for oil pollution up
            to the limit available to the Charterers for the Vessel in the market;

   

  		(ii)	make all such quarterly or other voyage declarations as may from time to time be required by the
            Vessel's protection and indemnity association in order to maintain such cover, and promptly deliver to the Owners copies of such declarations;

   

  		(iii)	submit the Vessel to such additional periodic, classification, structural or other surveys which may
            be required by the Vessel's protection and indemnity insurers to maintain cover for such trade and promptly deliver to the Owners copies of reports made in respect of such surveys;

   

  		(iv)	implement any recommendations contained in the reports issued following the surveys referred to in
            sub paragraph (v)(iii) above within the shorter of (x) the relevant time limits contained in such reports, or (y) ten (10) Business Days, and provide evidence satisfactory to the Owners that the protection and indemnity insurers are satisfied
            that this has been done; and

   

  		(v)	in addition to the foregoing (if such trade is in the United States of America and Exclusive
            Economic Zone):

   

  		(A)	obtain and retain a certificate of financial responsibility under the Act in form and substance
            satisfactory to the United States Coast Guard and provide the Owners with evidence of the same;

   

  		(B)	procure that the protection and indemnity insurances do not contain a US Trading Exclusion Clause or
            any other analogous provision and provide the Owners with evidence that this is so; and

   

  		(C)	comply strictly with any operational or structural regulations issued from time to time by any relevant authorities under
            the Act so that at all times the Vessel falls within the provisions which limit strict liability under the Act for oil pollution.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    38 

    
      
 

  

   

  		(w)	Innocent Owners' Interest Insurance and Mortgagees' Interest Insurance The Owners
            shall be at liberty to, at any time during the Agreement Term, take out an Innocent Owners' Interest Insurance in relation to the Vessel for such amounts and on such terms and conditions as the Owners may from time to time decide and any
            Finance Party shall be at liberty to take out a Mortgagees' Interest Insurance in relation to the Vessel for such amounts and on such terms and conditions as that Finance Party may from time to time decide.

   

  		(x)	Reimbursement in respect of the Innocent Owners' Interest Insurance and Mortgagees' Interest
                Insurance The Charterers shall from time to time upon the Owners' demand:

   

  		(i)	reimburse the Owners for all costs, premiums and expenses paid or incurred by the Owners in
            connection with any Innocent Owners' Interest Insurance; and

   

  		(ii)	reimburse the Owners or any Finance Party for all costs, premiums and expenses paid or incurred by
            the Owners or that Finance Party in connection with any Mortgagees' Interest Insurance,

   

  provided that (for the purpose of such reimbursement only) the costs,
      premiums and expenses in connection with the Innocent Owners' Interest Insurances and the Mortgagees' Interest Insurances shall be no more than such costs, premiums and expenses if the aggregate of the insured amount of the Innocent Owners' Interest
      Insurances and that of the Mortgagees' Interest Insurances does not exceed one hundred and twenty per cent. (120%) of the then current Cost Balance.

   

  		(y)	Cooperation by the Charterers The Charterers agree and undertake that:

   

  		(i)	in the event that the Charterers receive any payment in relation to the Insurances in contravention
            of this Charter, the Charterers will hold such payment on trust and on behalf of the Owners;

   

  		(ii)	the Charterers will not refuse, withhold (or otherwise delay giving) consent to the payment of any
            amount which becomes payable to the Owners under the Insurances (to the extent that such payment is payable to the Owners in accordance with terms of this Charter);

   

  		(iii)	at the request of the Owners and at the cost of the Charterers, place any other insurance in line
            with international industry standards as may be requested by the Owners and/or the Finance Parties (if any), acting reasonably and subject to the opinion(s) of international reputable and independent insurance consultants; and

   

  		(iv)	from time to time on the written request of the Owners, the Charterers will promptly execute and
            deliver to the Owners all documents which the Owners may require for the purpose of obtaining any payment in relation to the Insurances (to the extent that such payment is payable to the Owners in accordance with the terms of this Charter).

   

  		43.	Inspection

   

  		(a)	Owners' right to inspect For so long as no Termination Event has occurred and is
            continuing, the Owners shall exercise the inspection rights under Clause 8

   

  (Inspection):

   

  		(i)	no more than once per calendar year on such date as the Owners may determine (and not at all if
            during a calendar year the Vessel is inspected pursuant to paragraph (c) (Inspection during dry docking) below);

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    39 

    
      
 

  

   

  		(ii)	during normal business hours and upon reasonable written notice; and

   

  		(iii)	so as not to disrupt the commercial operation of the Vessel,

   

  and, in each case, the Charterers must grant or procure that the Owners and/or their
      representatives are given access to the Vessel, provided that the above shall not apply after the occurrence of a Termination Event and the Owners shall, in such event, be entitled to inspect or survey or instruct a duly authorised surveyor
      to carry out such survey of the Vessel on their behalf at any time upon the occurrence of a Termination Event.

   

  		(b)	Inspection costs generally All reasonable, properly incurred and documented out of
            pocket costs and expenses of any such visit, inspection or survey carried out in accordance with Clause 8 (Inspection) and paragraph (a) (Owners' right to inspect) above shall be for the account of the Charterers.

   

  		(c)	Inspection during dry docking The Charterers must give the Owners not less than two
            (2) months' prior notice of any dry docking of the Vessel to be performed during the Charter Period, and must:

   

  		(i)	permit and/or procure permission for, the Owners and/or any person designated by the Owners to
            inspect and survey the Vessel during such dry docking (so long as such inspection is during normal business hours, is upon reasonable written notice and does not disrupt the dry docking of the Vessel); and

   

  		(ii)	provide, or procure the provision of, proper facilities for such inspection.

   

  		(d)	Inspection costs during dry docking All reasonable, properly incurred and documented
            out of pocket costs and expenses of any visit, inspection or survey carried out in accordance with paragraph (c) (Inspection during dry docking) above shall be for the account of the Charterers.

   

  		(e)	No liability upon Owners regarding inspection The Owners shall not:

   

  		(i)	have any duty or liability to make any visit, inspection or survey pursuant to this Charter; or

   

  		(ii)	incur any liability or obligations by not making any inspection or have any liability arising out of
            any visit, inspection or survey.

   

  		44.	Redelivery

   

  Upon:

   

  		(a)	the occurrence of any Termination Event which is continuing and if the Owners decide to retake
            possession of the Vessel pursuant to paragraph (d) of Clause 52 (Owners' options after occurrence of Termination Event); or

   

  		(b)	the expiry of the Agreed Charter Period (and subject to no Total Loss having occurred and no
            Purchase Option or Purchase Obligation being exercised), the Charterers shall, at their own cost and expense, redeliver or cause to be redelivered the Vessel to the Owners at a safe, ice free port where the Vessel would be afloat at all times
            in a ready safe berth or anchorage, in accordance with Clauses 45 (Redelivery conditions) and 46 (Survey on redelivery).

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    40 

    
      
 

  

   

  If the Vessel is to be redelivered pursuant to paragraph (b) above, the Charterers
      shall give the Owners not less than forty five (45) running days' preliminary notice of expected date of redelivery and not less than thirty (30) running days' definite notice of expected date of redelivery and port of redelivery.

   

  		45.	Redelivery conditions

   

  		(a)	Redelivery conditions If the Vessel is to be redelivered pursuant to Clause 44 (Redelivery),

            in addition to what has been agreed in Clause 44 (Redelivery), the condition of the Vessel shall at redelivery be as follows:

   

  		(i)	the Vessel shall be free of any class conditions, recommendations and/or statutory breaches
            affecting the validity of its trading certificates;

   

  		(ii)	the Vessel must be redelivered with all equipment and spares or replacement items which were on
            board at the time of the delivery under the MOA (save for any spare part or spare equipment which has been consumed in the course of operating the Vessel) and transferred to the Owners pursuant to the MOA and the log book (or a certified copy
            if the original cannot be provided) and other technical documentation which may be in the Charterers' possession shall promptly be forwarded to the Owners at the Charterers' expense;

   

  		(iii)	the Vessel must be redelivered with all national and international trading certificates and
            hull/machinery survey positions for both class and statutory surveys free of any recommendation and qualifications valid and un extended for a period of at least three (3) months beyond the redelivery date;

   

  		(iv)	the Vessel shall have passed any flag or class surveys or inspections due within three (3) months
            after the date of redelivery and have its continuous survey system up to date;

   

  		(v)	the Vessel shall be free and clear of all liens; and

   

  		(vi)	without prejudice to any of the foregoing, the Vessel shall be in the same or as good structure,
            state, condition and class as she was when she was delivered to the Charterers under this Charter on the Actual Delivery Date, fair wear and tear excepted.

   

  		(b)	Obligation to pay Hire to continue Unless and until such time as the Termination Sum
            is paid by the Charterers to the Owners in accordance with the terms of this Charter, the Charterers shall continue to pay Hire in accordance with the terms of this Charter.

   

  		46.	Survey on redelivery

   

  If the Vessel is not sold or transferred in accordance with this Charter
      (including pursuant to the exercise of a Purchase Option or the Purchase Obligation or any other reason whatsoever), and provided that it has not become a Total Loss, the Owners and Charterers shall each appoint (at their own expense) surveyors for
      the purpose of determining and agreeing in writing the condition of the Vessel at redelivery. If the Vessel is not in the condition or does not meet the performance criteria required by Clause 45 (Redelivery conditions), a list of deficiencies
        together with the costs of repairing/remedying such deficiencies shall be agreed by the respective surveyors.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    41 

    
      
 

  

   

  		47.	Owners' mortgage

   

  		(a)	Owners' funding arrangements The Charterers:

   

  		(i)	acknowledge that the Owners may enter into certain funding arrangements with the Finance Parties in
            order to finance part of the Actual Owners' Cost, which funding arrangements may be secured, inter alia, by ship mortgages over the Vessel and (along with other related matters) the relevant Finance Documents, provided that:

   

  		(A)	simultaneous with the Owners' execution of any such ship mortgages, the relevant Permitted Mortgagee
            shall issue a Quiet Enjoyment Letter in favour of the Charterers;

   

  		(B)	such ship mortgage(s) and Finance Documents shall not secure an amount greater than the then
            applicable Cost Balance; and

   

  		(C)	other than pursuant to the Finance Documents, the Owners shall not use the Vessel as collateral for
            any other funding arrangements;

   

  		(ii)	irrevocably consent to any assignment in favour of the Finance Parties of the Charterers' rights,
            title, interests and benefits in and to the Insurances, the Earnings, the Requisition Compensation and any Transaction Documents pursuant to the relevant Finance Documents; and

   

  		(iii)	without limiting the generality of paragraph (o) (Further assurance (Finance Parties)) of Clause
              49 (Charterers' undertakings), undertake to execute or provide (as the case may be), and use reasonable commercial efforts to procure the execution or provision (as the case may be) by any third party of, such further information or
            document as in the opinion of the Owners and/or the Finance Parties are reasonably necessary to effect the assignment referred to in sub paragraph (ii) above and any assignment (by way of security) by the Owners of their rights in the
            Transaction Documents in favour of any Finance Party.

   

  		(b)	Owners' right to assign Without prejudice to paragraph (a) (Owners' funding
              arrangements) of this Clause 47 (Owners' mortgage) and any other provisions in this Charter, the Owners may assign, transfer or novate their rights under any Transaction Document to a Finance Party without the prior written consent
            of the Charterers.

   

  		(c)	Novation by Owners and sale of the Vessel Other than pursuant to and in accordance
            with the provisions under the Transaction Documents, the Owners shall not novate their rights under this Charter or sell the Vessel, in each case, to any person (the "Transferee") without:

   

  		(i)	obtaining the prior written consent of the Charterers;

   

  		(ii)	if applicable, procuring the Transferee to enter into a Quiet Enjoyment Letter;

   

  		(iii)	in respect of a sale of the Vessel, such sale being subject to this Charter.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    42 

    
      
 

  

   

  		48.	Charterers' representations and warranties

   

  		(a)	The Charterers make the representations and warranties set out in this Clause 48 to the Owners on
            the date of this Charter:

   

  		(i)	Status each Obligor:

   

  		(A)	is a company or corporation (as applicable), duly incorporated in good standing and validly existing
            under the laws of its jurisdiction of incorporation; and

   

  		(B)	has the power to own its assets and carry on its business as it is being conducted;

   

  		(ii)	Binding obligations the obligations expressed to be assumed by each Obligor in the
            Transaction Documents to which it is a party are legal, valid, binding and enforceable obligations;

   

  		(iii)	Non conflict with other obligations the entry into and performance by each Obligor of;
            and the transactions contemplated by, the Transaction Documents to which it is a party do not and will not conflict with:

   

  		(A)	any law or regulation applicable to it;

   

  		(B)	its constitutional documents; or

   

  		(C)	any material agreement or instrument binding on it or any of its assets;

   

  		(iv)	Power and authority each Obligor has the power to enter into, perform and deliver, and
            have taken all necessary action to authorise its entry into, performance and delivery of, the Transaction Documents to which it is a party and the transactions contemplated thereunder;

   

  		(v)	Validity and admissibility in evidence all Authorisations required:

   

  		(A)	to enable each Obligor to lawfully enter into, exercise its rights and comply with its obligations
            in the Transaction Documents to which it is a party;

   

  		(B)	to make each Transaction Document to which each Obligor is a party admissible in evidence in its
            Relevant Jurisdiction; and

   

  		(C)	for each Obligor to carry on its business, have been obtained or effected and are in full force and
            effect;

   

  		(vi)	Governing law and enforcement subject to the Legal Reservations:

   

  		(A)	the choice of English law as the governing law of the Transaction Documents will be recognised and
            enforced in the Relevant Jurisdiction of each Obligor;

   

  		(B)	any judgment obtained in England in relation to any Transaction Document will, in each case, be
            recognised and enforced in the Relevant Jurisdiction of each Obligor; and

   

  		(C)	any arbitral award granted in relation to any other Transaction Document will be recognised and
            enforced in the Relevant Jurisdiction of each Obligor;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    43 

    
      
 

  

   

  		(vii)	Deduction of Tax subject to the Legal Reservations, it is not required under the laws
            of any Relevant Jurisdiction of any Obligor to make any deduction for or on account of Tax from any payment any Obligor may make under any Transaction Document (including a FATCA Deduction);

   

  		(viii)	No filing or stamp taxes subject to the Legal Reservations, under the laws of each
            Relevant Jurisdiction of each Obligor, it is not necessary that any Transaction Document to which such Obligor is a party be filed, recorded or enrolled with any court or other authority in that jurisdiction or that any stamp, registration or
            similar tax be paid on or in relation thereto or the transactions contemplated thereby;

   

  		(ix)	No Potential Termination Event

   

  		(A)	no Potential Termination Event or Termination Event is continuing or might reasonably be expected to
            result from any Obligor's entry into, or performance of the transactions contemplated by any Transaction Document to which such Obligor is a party; and

   

  		(B)	no other event or circumstance is outstanding which constitutes a default under any other agreement
            or instrument which is binding on any Obligor or to which such Obligor's assets are subject and which might have a Material Adverse Effect;

   

  		(x)	No misleading information

   

  		(A)	any factual information provided by or on behalf of the Charterers to the Owners was true and
            accurate in all material respects as at the date it was provided or as the date (if any) at which such information was stated; and

   

  		(B)	nothing has occurred or been omitted from the information so provided and no information has been
            given by or on behalf of the Charterers or withheld that results in the information provided by or on behalf of the Charterers being untrue or misleading in any material respect.

   

  		(xi)	Financial statements in relation to the Original Financial Statements:

   

  		(A)	the Original Financial Statements were prepared in accordance with the relevant GAAP consistently
            applied;

   

  		(B)	the Original Financial Statements give a true and fair view and represent the financial condition of
            the Charterers and the Guarantors and their operations during the relevant financial year save to the extent expressly disclosed in such financial statements; and

   

  		(C)	there has been no material adverse change in the business or financial condition of the Charterers
            or any Guarantor since the date on which the relevant Original Financial Statements were drawn up;

   

  		(xii)	Pari passu ranking the payment obligations of each Obligor under each Transaction
            Document to which it is a party rank at least pari passu with the claims of all other unsecured and unsubordinated creditors of such Obligor, except for obligations mandatorily preferred by law applying to companies generally;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    44 

    
      
 

  

   

  		(xiii)	No proceedings pending or threatened no litigation, arbitration or administrative
            proceedings of or before any court, arbitral body or agency have (to the best of the Charterers' knowledge) been started or threatened which, if adversely determined, might reasonably be expected to have a material adverse effect on the
            business, assets, financial condition or creditworthiness of any Obligor;

   

  		(xiv)	No immunity none of the Obligors nor any of its assets has any right to immunity from
            set off, legal proceedings, attachment prior to judgment, other attachment or execution of judgment on the grounds of sovereign immunity or otherwise;

   

  		(xv)	Tax compliance and no tax claims: save as disclosed to the Owners, each Obligor has
            complied with all Tax laws and regulations applicable to it and its business and there are no tax claims commenced or threatened to commence against any Obligor;

   

  		(xvi)	No insolvency none of the Obligors is insolvent or in liquidation or administration or
            subject to any other formal or informal insolvency procedure, and no receiver, administrative receiver, administrator, liquidator, trustee or analogous officer has been appointed in respect of the Charterers or all or any part of their assets;

   

  		(xvii)	No breach of AML Laws none of the Obligors is, or will be, directly or indirectly, and
            whether knowingly or otherwise, involved in any transaction (including any sale and leaseback transaction):

   

  		(A)	which is contrary to any AML Laws; or

   

  		(B)	the proceeds of which have been used for any purpose that would breach any anti bribery or
            anti-corruption legislation in jurisdictions in which any Obligor conduct its business;

   

  		(xviii)	No Restricted Party none of the Obligors is a Restricted Party, nor have they or any
            of their directors, officers or employees received notice or are aware of any claim, action, suit, proceeding or investigation against them with respect to Sanctions by a Sanctions Authority;

   

  		(xix)	US tax status none of the Obligors is a US Tax Obligor, nor has it established a place
            of business or is otherwise conducting business in the United States of America;

   

  		(xx)	Copies of Project Documents the copies of the Project Documents provided by the
            Charterers to the Owners in accordance with Clause 36 (Conditions precedent) are true and accurate copies of the originals and represent the full agreement between the parties to those Project Documents in relation to the subject matter
            of those Project Documents and there are no commissions, rebates, premiums or other payments due or to become due in connection with the subject matter of those Project Documents other than in the ordinary course of business or as disclosed to,
            and approved in writing by, the Owners.

   

  		(b)	Each representation and warranty in sub paragraphs (a)(ii) (Binding obligations) to (iv) (Power

              and authority), (x) (No misleading information) to (xiv) (No immunity) and (xvii) (No breach of AML Laws) to (xx) (Copies of Project Documents) above is deemed to be repeated by the Charterers by reference to
            the facts and circumstances then existing on (i) the Actual Delivery Date, and (ii) each Hire Payment Date.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    45 

    
      
 

  

   

  		49.	Charterers' undertakings

   

  The Charterers hereby undertake to the Owners that they will comply in full and
      procure compliance (where applicable) with the following undertakings throughout the Agreement Term:

   

  		(a)	Corporate status each Obligor will maintain its corporate existence as a body
            corporate duly organised and validly existing under the laws of its jurisdiction of incorporation and will maintain the power to own its assets and carry on its business as it is being conducted on the date of this Charter;

   

  		(b)	Authorisations each Obligor shall promptly:

   

  		(i)	obtain, comply with and do all that is necessary to maintain in full force and effect; and

   

  		(ii)	supply certified copies to the Owners of,

   

  any Authorisation required by any applicable law:

   

  		(A)	to enable that Obligor to lawfully enter into, exercise its rights and comply with its obligations
            in the Transaction Documents to which it is a party;

   

  		(B)	to make each Transaction Document to which that Obligor is a party admissible in evidence in its
            Relevant Jurisdiction;

   

  		(C)	for that Obligor to carry on its business; and

   

  		(D)	to ensure the legality, validity or enforceability of any Transaction Document;

   

  		(c)	Compliance with laws each Obligor shall comply in all respects with all laws in all
            material respects to which it may be subject in its jurisdiction of incorporation, the Flag State and any jurisdiction in which the Vessel is employed, if failure so to comply would have a Material Adverse Effect;

   

  		(d)	Manager's Undertaking the Charterers will procure that each Approved Manager shall
            enter into a Manager's Undertaking;

   

  		(e)	Negative pledge

   

  		(i)	The Charterers must not create or allow to exist any Security Interest (other than a Permitted
            Security Interest) on any of its rights, title and interest in and to, and all benefits accruing to it under or pursuant to (A) the Transaction Documents, (B) the Vessel, (C) the Insurances, (D) the Requisition Compensation, or (E) any of its
            other asset or undertaking.

   

  		(ii)	Without prejudice to paragraph (f) (Disposals) below, the Charterers shall not:

   

  		(A)	sell, transfer or otherwise dispose of any of its assets on terms whereby that asset is or may be
            leased to, or re acquired by, any Guarantor or any other member of the Group;

   

  		(B)	sell, transfer, factor or otherwise dispose of any of its receivables on recourse terms;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    46 

    
      
 

  

   

  		(C)	enter into any arrangement under which money or the benefit of a bank or other account may be
            applied, set off or made subject to a combination of accounts (other than for Permitted Security Interest); or

   

  		(D)	enter into any other preferential arrangement having a similar effect,

   

  in circumstances where the arrangement or transaction is entered into primarily as a method of raising
      Financial Indebtedness or of financing the acquisition of an asset;

   

  		(f)	Disposals the Charterers shall not enter into a single transaction or a series of
            transactions, whether related or not and whether voluntarily or involuntarily, to dispose of any asset except for any of the following disposals:

   

  		(i)	disposals permitted by the Transaction Documents;

   

  		(ii)	disposals of assets made in (and on terms reflecting) the ordinary course of trading of the
            disposing entity and on an arm's length basis;

   

  		(iii)	disposals of obsolete, damaged, worn out, used or surplus assets, or assets which are no longer
            required in the ordinary course of business;

   

  		(iv)	dealings with trade creditors with respect to book debts in the ordinary course of trading;

   

  		(v)	the application of cash or cash equivalents in the acquisition of assets or services in the ordinary
            course of their business;

   

  		(vi)	the unwinding of any derivative or similar transaction; and

   

  		(vii)	any surrender or waiver of contractual rights or the settlement, release, recovery on or surrender
            of contractual rights or other claims of any kind in accordance with the terms of this Charter;

   

  		(g)	Merger the Charterers shall not enter into any amalgamation, demerger, merger or
            corporate restructuring without prior written consent of the Owners; and shall procure that Guarantor One shall not enter into any amalgamation, demerger, merger or corporate restructuring which is likely to have a Material Adverse Effect
            without prior written consent of the Owners;

   

  		(h)	Change of control the Charterers shall remain a direct wholly owned Subsidiary of
            Guarantor Two;

   

  		(i)	Financial Indebtedness

   

  		(i)	the Charterers shall not, without the prior written consent of the Owners, incur or permit to remain
            outstanding any Financial Indebtedness.

   

  		(ii)	sub paragraph (i) above does not apply to any Financial Indebtedness:

   

  		(A)	incurred pursuant to any Shareholder Funding;

   

  		(B)	incurred pursuant to any Transaction Document; and

   

  		(C)	any trade debt occurring in the ordinary course of the Charterers' business;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    47 

    
      
 

  

   

  		(j)	Loans and guarantees the Charterers shall not:

   

  		(i)	make or allow to subsist any loan, grant any credit; or

   

  		(ii)	give or allow to remain outstanding any guarantee or indemnity to or for the benefit of any person
            or otherwise voluntarily assume any liability, whether actual or contingent, in respect of any obligation of any person;

   

  		(k)	Financial statements the Charterers will supply or cause to be supplied to the Owners:

   

  		(i)	as soon as the same become available, but in any event within one hundred and twenty (120) days
            after the end of each financial year of each Guarantor, the audited consolidated financial statements of that Guarantor for that financial year in English language; and

   

  		(ii)	as soon as the same become available, but in any event within ninety (90) days after the end of each
            quarter of the Charterers and Guarantor Two, as appropriate, the unaudited quarterly management accounts of the Charterers and Guarantor Two for that financial quarter in English language (consolidated, if relevant, in the case of Guarantor
            Two) and, in the case of Guarantor Two, together with Guarantor Two's email confirmation certifying that:

   

  		(A)	each Guarantor is in compliance with the covenants and undertakings in Clause 50 (Financial
              covenants) applicable to such Guarantor (or if it is not in compliance, indicating the extent of the breach) and setting out the calculation of the covenants and undertakings in Clause 50 (Financial covenants); and

   

  		(B)	no Termination Event has occurred and is continuing which has not been waived or remedied at the
            date of such email or, if that is not the case, specifying the same and the steps, if any, being taken to remedy the same.

   

  		(1)	Requirements as to financial statements the Charterers shall procure that:

   

  		(i)	each set of financial statements delivered by the Charterers pursuant to paragraph (k) (Financial
              statements) above in relation to the Charterers and the Guarantors (each a "Notifying Party") shall be certified by an officer of the relevant Notifying Party, as giving a true and fair view of the financial condition and
            operations of that Notifying Party as at the date at which, and for the period in relation to which those financial statements were drawn up; and

   

  		(ii)	each set of financial statements delivered pursuant to paragraph (k) (Financial statements)
            above is prepared using the applicable GAAP and financial reference periods consistent with those applied in the preparation of the Original Financial Statements unless, in relation to any set of financial statements, they notify the Owners
            that there has been a change in applicable the applicable GAAP or financial reference periods and their auditors deliver to the Owners:

   

  		(A)	a description of any change necessary for those financial statements to reflect the applicable GAAP
            and financial reference periods upon which the Original Financial Statements were prepared; and

   

  		(B)	sufficient information, in form and substance as may be reasonably required by the Owners, to enable
            the Owners to make an accurate comparison between the financial position indicated in those financial statements and the Original Financial Statements;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    48 

    
      
 

  

   

  		(m)	Compliance Certificate concurrently with the delivery of each set of the audited
            annual financial statements in respect of the Guarantors in accordance with paragraph (k) (Financial statements) above, the Charterers shall deliver to the Owners:

   

  		(i)	a GLNG Compliance Certificate signed by the chief financial officer or any other authorised
            signatory of Guarantor One; and

   

  		(ii)	a Golar Power Compliance Certificate signed by the chief financial officer or any other authorised
            signatory of Guarantor Two,

   

  in each case certifying that, as at the date of such financial statements:

   

  		(iii)	the relevant Guarantor is in compliance with the covenants and undertakings in Clause 50 (Financial
            covenants) applicable to such Guarantor (or if they are not in compliance, indicating the extent of the breach) and setting out the calculation of the covenants and undertakings in Clause 50 (Financial covenants); and

   

  		(iv)	no Termination Event has occurred and is continuing which has not been waived or remedied at the
            date of such Compliance Certificate or, if that is not the case, specifying the same and the steps, if any, being taken to remedy the same.

   

  		(n)	Notifications: miscellaneous the Charterers shall:

   

  		(i)	notify the Owners as soon as the Charterers become aware of, and shall procure each Guarantor to
            notify the Owners as soon as that Guarantor is aware of, the occurrence of any Potential Termination Event or any Termination Event (including any Termination Event set out in paragraph (a) (xii) (Related Document termination event) of
            Clause 52 (Termination Events)) and in each case, shall keep the Owners fully informed of all developments;

   

  		(ii)	notify the Owners in writing promptly upon becoming aware of (A) any Environmental Claim against the
            Charterers in respect of an amount in excess of ten per cent. (10%) of the value of the Vessel as at the date of such Environmental Claim against the Charterers (or any Sub-Charterers or any Approved Manager) which is current, or pending in
            relation to the Vessel or (13) any Environmental Incident or alleged Environmental Incident in relation to the Vessel;

   

  		(iii)	notify the Owners in writing promptly upon becoming aware of any Project Document being terminated,
            repudiated, cancelled or otherwise ceasing to remain in full force and effect;

   

  		(iv)	notify the Owners in writing immediately if a Sub-Charter is terminated, cancelled, repudiated, or
            expires, or otherwise ceases to remain in full force and effect;

   

  		(v)	notify the Owners in writing immediately if the Charterers fail to obtain any Earnings for the
            Vessel for a period of twelve (12) months; and

   

  		(vi)	disclose all information in relation to any Sub-Charter, including (but not limited to) the main
            commercial terms of such Sub-Charter, any information in relation to any Sub-Charterers' fulfilment of their obligations pursuant to the relevant Sub-Charter and any other information which the Owners may request;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    49 

    
      
 

  

   

  		(o)	Further assurance (Finance Parties) the Charterers will from time to time, do and
            perform such other and further acts and execute and deliver any and all such other agreements, instruments and documents as may be reasonably necessary for the Owners or the Finance Parties (as the case may be) to:

   

  		(i)	maintain and protect the existing rights and remedies of the Owners and/or the Finance Parties (as
            the case may be); or

   

  		(ii)	carry out and effect the intent and purpose of this Charter and the other Transaction Documents,

   

  in each case to the extent not inconsistent with the terms of this Charter;

   

  		(p)	Cessation of business the Charterers shall not cease or threaten to cease to carry on
            all or, in the opinion of the Owners, any material part of the Charterers' business;

   

  		(q)	Environmental matters the Charterers shall:

   

  		(i)	comply with, and procure each Approved Manager to comply with, all Environmental Law applicable to
            and in relation to using and operating the Vessel;

   

  		(ii)	obtain, maintain and ensure compliance with all applicable Environmental Permits in relation to
            using and operating the Vessel; and

   

  		(iii)	implement procedures to monitor compliance with and to prevent liability under any Environmental Law
            applicable to the use and operation of the Vessel;

   

  		(r)	Compliance with international convention etc. the Charterers shall procure that the
            Charterers and each Approved Manager shall comply with all applicable international conventions, codes and regulations (including, without limitation, the ISM Code (or any replacement thereof) and the ISPS Code (or any replacement thereof))
            applicable to each of them respectively;

   

  		(s)	Delivery details of employment status of the Vessel the Charterers will deliver, or
            procure the delivery to the Owners of, the employment status together with (if requested by the Owners) the relevant contract of employment in respect of the Vessel every six (6) months during the Charter Period;

   

  		(t)	No dealings with Restricted Party or breach of Sanctions the Charterers will not, and
            will not permit or authorise any other person to directly utilise or employ the Vessel or to use, lend, make payments of, contribute or otherwise make available, all or any part of the proceeds of any transaction(s) contemplated by the
            Transaction Documents to fund any trade, business or other activities:

   

  		(i)	with a Restricted Party; or

   

  		(ii)	in any other manner that would result in any Obligor, any Approved Manager or the Owners (if
            applicable) being in breach of any Sanctions or becoming a Restricted Party;

   

  		(u)	Change of business the Charterers shall not change the nature and scope of their
            business from that carried on at the date of this Charter;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    50 

    
      
 

  

   

  		(v)	Project Documents the Charterers shall:

   

  		(i)	comply with all their obligations under the Project Documents to which they are a party, and will
            procure that each other party (where that party is a member of the Group) shall comply with its obligations under the Project Documents to which it is a party; and

   

  		(ii)	except with the prior written consent of the Owners, the Charterers shall not, and shall use their
            reasonable endeavours to procure that no other party (where that party is a member of the Group) shall, amend, cancel, vary, novate, supplement, supersede, waive or terminate any Project Document to which it is a party;

   

  		(w)	Listing the Charterers shall procure that, (i) Guarantor One will until the earlier
            of (x) the last day of the Agreement Term and (y) the Guarantee One Release Date maintain its listing as a publicly listed entity on The Nasdaq Stock Market (trading as NASDAQ: GLNG) or any other recognised stock exchange acceptable to the
            Owners, and shall procure that (ii) Guarantor Two will from the Guarantee One Release Date maintain its listing as a publicly listed entity on The Nasdaq Stock Market or any other recognised stock exchange acceptable to the Owners;

   

  		(x)	Deposit

   

  		(i)	subject to sub paragraph (ii) below, the Charterers shall, on or before the Actual Delivery Date,
            deposit into the Owners' Account an amount in US Dollars (the "Deposit") of one million eight hundred thousand US Dollars (US$1,800,000) (the "Minimum Deposit Threshold");

   

  		(ii)	the Deposit shall be set off against the Actual Owners' Cost in accordance with the MOA;

   

  		(iii)	following the falling due of the Termination Sum, the exercise of the Purchase Obligation or the
            exercise of the Purchase Option in accordance with the terms of this Charter, the Owners shall be obliged to:

   

  		(A)	if the Termination Sum, the Purchase Obligation Price or the Purchase Option Price (as appropriate)
            is no less than the balance of the Deposit, set off any balance of the Deposit against the Purchase Option Price, the Purchase Obligation Price or the Termination Sum; or

   

  		(B)	if the Termination Sum, the Purchase Obligation Price or the Purchase Option Price (as appropriate)
            is less than the balance of the Deposit, release to the Charterers the amount being (x) any balance of Deposit less (y) the Termination Sum, the Purchase Obligation Price or the Purchase Option Price (as appropriate);

   

  		(iv)	in addition, the Owners may at their sole discretion and at any time during the Agreement Term apply
            the Deposit (or any part thereof) towards any Unpaid Sum that is due and payable at the time of such application and has not yet be paid, it being understood that the Charterers are obliged to then pay to the Owners such additional amount
            (which shall form part of the Deposit) within three (3) Business Days of the Owners' written notice to the Charterers of such application, to maintain the Minimum Deposit Threshold after such application;

   

  		(v)	upon the expiry of the Agreement Term, the Owners shall release to the Charterers any balance of the
            Deposit after the Owners' application of the Deposit, subject to the Owners being satisfied that no Potential Termination Event or Termination Event has occurred or will occur immediately after such release;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    51 

    
      
 

  

   

  		(vi)	the Deposit shall bear no interest; and

   

  		(vii)	each Party agrees that all right, title and interest in and to the Deposit shall vest in the Owners
            free and clear of any liens, claims, charges or encumbrances or any other interest of the Charterers or any other third person. Nothing in this Clause 49(x) is intended to create or does create in favour of any party any mortgage, charge, lien,
            pledge, encumbrance or other Security Interest in the Deposit;

   

  		(y)	Conditions subsequent the Charterers shall deliver or cause to be delivered to the
            Owners (in each case in form and substance acceptable to the Owners):

   

  		(i)	to the extent that any certificate received by the Owners pursuant to paragraph (a)(x) of Clause 36
            (Conditions precedent) was in provisional form at the time of the receipt, the corresponding formal certificate as soon as possible after the Charterers' receipt of the same from the relevant persons, and in any event prior to the expiry
            of the validity period of such provisional certificate;

   

  		(ii)	within one (1) Business Day from the Actual Delivery Date, the Vessel's certificate of registry and
            a certificate of ownership and encumbrance, both dated the Actual Delivery Date (evidencing that the Owners' ownership of the Vessel and that the Vessel is free from registered encumbrances and mortgages);

   

  		(iii)	within ten (10) Business Days from the Actual Delivery Date, the acknowledgement (duly executed by
            the Account Bank) to the notice of charge required under the Account Charge; and

   

  		(iv)	within fifteen (15) Business Days from the Actual Delivery Date, letters of undertaking in respect
            of the Insurances as required by the Transaction Documents, together with copies of the relevant policies or cover notes or entry certificates in respect of the Insurances duly endorsed with the interest of the Owners.

   

  		(z)	Classification the Charterers shall ensure that the Vessel maintains the highest
            classification required for the purpose of the relevant trade of the Vessel which shall be with the Vessel's Classification Society, in each case, free from any overdue recommendations and conditions; and

   

  		(aa)	Dividends

   

  		(i)	the Charterers shall only pay dividends or make any other distributions to their shareholders if (x)
            subject to Clause 49 (aa) (ii) below, the provisions of Clause 50 (b)(iii) and (iv) are complied with at the time the audited financial statements are submitted pursuant to Clause 49(k)(i) and (y) no Termination Event has occurred and is
            continuing.

   

  		(ii)	If the audited financial statements submitted pursuant to Clause 49(k)(i) show that the provisions
            of Clause 50 (b)(iii) or (iv) in respect of Guarantor One or Guarantor Two are not in compliance, payment of dividends or making of other distributions to the shareholders by the Charterers will only be allowed on the basis that the Owners
            either (x) waive such non-compliance (acting reasonably) or (y) request that the Charterers within six (6) months of the request of the Owners either (A) deposit in the Earnings Account or, at the Owners' option, another account to be held with
            the Account Bank and charged to the Owners (in form and substance acceptable to the Owners) an amount up to a maximum of ten per cent (10%) of the then applicable Cost Balance, which is to be released as soon as the Charterers have shown to the
            satisfaction of the Owners that such non-compliance has been remedied or (B) prepay an amount up to a maximum of ten per cent (10%) of the then applicable Cost Balance (to be applied by the Owners first to reduce the Charterers' obligation to
            pay the Balloon and then to reduce the Charterers' obligation to pay the Principal Hire in inverse order of maturity).

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    52 

    
      
 

  

   

  		50.	Financial covenants

   

  		(a)	Financial definitions For the purpose of this Clause 50, the following definitions
            shall apply:

   

  "Cash Equivalents" means:

   

  		(i)	deposits with first class international banks the maturity of which does not exceed 12 months;

   

  		(ii)	bonds, certificates of deposit and other money market instruments or securities issued or guaranteed
            by the Norwegian or United States Governments; and

   

  		(iii)	any other instrument approved by the Owners.

   

  "Free Liquid Assets" means:

   

  		(i)	in respect of Guarantor One, cash or Cash Equivalents freely available for use by Guarantor One
            and/or any other member of the Guarantor One Group for any lawful purpose without restriction (other than any restriction arising exclusively from any covenant to maintain a minimum level of free cash or cash equivalents) notwithstanding any
            Security Interest, right of set off or agreement with any other party, where:

   

  		(A)	the value of Cash Equivalents shall be deemed to be their quoted price, as at any date of
            determination, on any recognised exchange (being an exchange recognised and approved by the Owners) on which the same are listed or any dealing facility through which the same are generally traded; and

   

  		(B)	any cash or Cash Equivalents denominated in a currency other than Dollars shall be deemed to have a
            value in Dollars equal to the Dollar equivalent thereof at the rate of exchange published daily as at any date of determination; and

   

  		(ii)	in respect of Guarantor Two, cash or Cash Equivalents freely available for use by Guarantor Two
            and/or any other member of the Guarantor Two Group for any lawful purpose without restriction (other than any restriction arising exclusively from any covenant to maintain a minimum level of free cash or cash equivalents) notwithstanding any
            Security Interest, right of set off or agreement with any other party, where:

   

  		(A)	the value of Cash Equivalents shall be deemed to be their quoted price, as at any date of
            determination, on any recognised exchange (being an exchange recognised and approved by the Owners) on which the same are listed or any dealing facility through which the same are generally traded; and

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    53 

    
      
 

  

   

  		(B)	any cash or Cash Equivalents denominated in a currency other than Dollars shall be deemed to have a
            value in Dollars equal to the Dollar equivalent thereof at the rate of exchange published daily as at any date of determination.

   

  "Total Assets" means:

   

  		(i)	in respect of Guarantor One, as at any date of determination, the total assets of the Guarantor One
            Group determined in accordance with GAAP on a consolidated basis as shown in the balance sheet for the Guarantor One Group; and

   

  		(ii)	in respect of Guarantor Two, the total assets of the Guarantor Two Group determined in accordance
            with GAAP on a consolidated basis as shown in the balance sheet for the Guarantor Two Group.

   

  "Total Liabilities" means:

   

  		(i)	in respect of Guarantor One, as at any date of determination, the total liabilities of the Guarantor
            One Group (excluding, for the avoidance of doubt, any mark to market balances, other derivative obligations and/or deferred revenue) determined in accordance with GAAP on a consolidated basis as shown in the balance sheet for the Guarantor One
            Group; and

   

  		(ii)	in respect of Guarantor Two, as at any date of determination, the total liabilities of the Guarantor
            Two Group (excluding, for the avoidance of doubt, any mark to market balances, other derivative obligations and/or deferred revenue) determined in accordance with GAAP on a consolidated basis as shown in the balance sheet for the Guarantor Two
            Group.

   

  		(b)	Financial covenants the Charterers shall (and shall procure that the relevant
            Guarantor will) ensure that at all times during the Agreement Term:

   

  		(i)	the aggregate value of the Free Liquid Assets in respect of Guarantor Two is equal to or greater
            than one million US Dollars (US$1,000,000) multiplied by the total number of the vessels owned by members of the Guarantor Two Group;

   

  		(ii)	the aggregate value of the Free Liquid Assets in respect of Guarantor One is equal to or greater
            than fifty million US Dollars (US$50,000,000);

   

  		(iii)	the Total Liabilities in respect of Guarantor One shall not exceed seventy per cent. (70%) of the
            Total Assets in respect of Guarantor One; and

   

  		(iv)	the Total Liabilities in respect of Guarantor Two shall not exceed seventy per cent. (70%) of the
            Total Asset in respect of Guarantor Two,

   

  always provided that failure to comply with Clause 50 (b)(iii) and (iv) above per se shall not trigger
      a Termination Event under any circumstances (provided that this shall not prevent any non-compliance by the Charterers with any other provisions of this Charter (including paragraph (aa) of Clause 49) from constituting a Termination Event).

   

  		(c)	The provisions of Clause 50 (b) above shall only apply in respect of a Guarantor and its Guarantor
            Group whilst the relevant Guarantor is an Obligor pursuant to the terms of this Agreement.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    54 

    
      
 

  

   

  		(d)	Financial testing

   

  		(i)	The financial covenants in this Clause 50 shall be tested by reference to each of the financial
            statements delivered pursuant to, as applicable, paragraph (k) (Financial statements) of Clause 49 (Charterers' undertakings) and/or each Compliance Certificate delivered pursuant to sub paragraph (i) of paragraph (m) (Compliance

              Certificate) of Clause 49 (Charterers' undertakings).

   

  		(ii)	Any amount in a currency other than US Dollars is to be taken into account at its US Dollar
            equivalent calculated on the basis of the relevant rates of exchange used by the Charterers in, or in connection with, their financial statements for that period.

   

  		(iii)	When calculating the financial covenants in this Clause 50, the effect of all transactions between
            members of the Guarantor Group shall be eliminated to the extent not already netted out on consolidation.

   

  		(iv)	No item may be credited or deducted more than once in any calculation under this Clause 50.

   

  		(e)	The Owners will, at the request of Guarantor One, using their reasonable discretion, release
            Guarantor One from its obligations under Guarantee One in the event that (i) Guarantor Two has completed an initial public offering resulting in Guarantor Two becoming a publicly listed entity on the Nasdaq Stock Market or any other recognised
            stock exchange acceptable to the Owners and (ii) the market capitalisation of Guarantor Two is larger than the market capitalisation of Guarantor One.

   

  		51.	Value maintenance clause

   

  		(a)	Definitions In this Clause 51:

   

  "Test Date" means any day during the Agreement Term on which the Owners may
      test the Value Maintenance Ratio.

   

  "Value Maintenance Ratio" means the ratio (expressed as a percentage) of:

   

  		(i)	the Fair Market Value of the Vessel, plus the value of any additional security (which includes the
            Deposit or any balance thereof) (such value to be the face amount of the deposit (in the case of cash), determined conclusively by appropriate advisers appointed by the Owners (in the case of other charged assets), and determined by the Owners
            in their sole discretion (in all other cases)) for the time being provided to the Owners to restore the Value Maintenance Threshold pursuant to sub paragraph (c)(ii)(B) below; to
	 	 	 
	 	(ii)	 

  

  		(A)	(on any date falling on or before the Second Anniversary Date) the Financing Principal; or

   

  		(B)	(on any other date) the Purchase Option Price applicable to the Anniversary Date that immediately
            falls before such date.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    55 

    
      
 

  

   

  "Value Maintenance Threshold" means the ratio (expressed as a percentage) of
      one hundred and twenty per cent. (120%).

   

  		(b)	Valuations

   

  		(i)	In order to determine the Fair Market Value on a Test Date for the purposes of testing the Value
            Maintenance Ratio, the Fair Market Value shall be determined by the Owners based on the most recent Valuation Report provided to the Owners, provided that:

   

  		(A)	in the absence of a Termination Event, the Charterers shall arrange, deliver to the Owners and bear
            the cost of the issuance of each such Valuation Report once every twelve (12) months during the Agreement Term; and

   

  		(B)	upon the occurrence of a Termination Event, the Charterers shall arrange, deliver to the Owners and
            bear the cost of the issuance of all Valuation Reports as may be required by the Owners (acting in their sole discretion),

   

  provided further that if the Charterers fail to deliver such Valuation Reports pursuant to this Clause
      51, the Owners shall be entitled to arrange such Valuation Reports at the Charterers' cost.

   

  		(ii)	Each Valuation Report to be provided for the purpose of sub paragraph (b)(i) above shall:

   

  		(A)	be issued by an Approved Valuer, if for the purpose of testing the Value Maintenance Ratio, (I) no
            earlier than fifteen (15) days before the relevant Test Date, and (II) no later than five (5) days before the relevant Test Date;

   

  		(B)	be made without physical inspection of the Vessel and on a desktop, charter free basis;

   

  		(C)	on the basis of a sale for prompt delivery for cash at arm's length on normal commercial terms as
            between a willing seller and a willing buyer; and

   

  		(D)	be delivered to the Owners within forty five (45) days from the day on which the Owners make a
            request for valuation of the Vessel.

   

  		(iii)	If an Approved Valuer determines that the Fair Market Value shall fall within a range, the valuation
            as determined by such Approved Valuer should be the lower value of such range.

   

  		(iv)	Each valuation shall be provided by an Approved Valuer in US Dollars.

   

  		(c)	Value Maintenance Ratio

   

  		(i)	The Owners may test the Value Maintenance Ratio on any Test Date in accordance with the methodology
            described in sub paragraph (b) (Valuations) above.

   

  		(ii)	If, after conducting testing the Value Maintenance Ratio on the relevant Test Date, the Owners
            determine that the Value Maintenance Ratio is less than the Value Maintenance Threshold, then the Charterers shall, within ten (10) days of the Owners' request:

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    56 

    
      
 

  

   

  		(A)	prepay such part of the Balloon and the Principal Hire in the amount of the shortfall (together with
            any Break Costs or other associated costs, expenses or penalties) to be applied by the Owners first to reduce the Charterers' obligation to pay the Balloon and then to reduce the Charterers' obligation to pay the Principal Hire in inverse order
            of maturity (it being understood and the Owners and the Charterers hereby agree and acknowledge that any amount prepaid in accordance with this sub paragraph (A) shall, once so applied by the Owners, not be refundable in any circumstance
            whatsoever); or

   

  		(B)	give to the Owners additional security in amount and form acceptable to the Owners in their sole
            discretion,

   

  in each case in order to restore the Value Maintenance Ratio to comply with the Value Maintenance
      Threshold.

   

  		52.	Termination Events

   

  		(a)	Termination Events Each of the following events shall constitute a Termination Event:

   

  		(i)	Non-payment any Obligor fails to pay on the due date any sum payable pursuant to the
            Transaction Document to which it is a party at the place and in the currency in which it is expressed to be payable unless

   

  		(A)	its failure to pay is caused by administrative or technical error; and

   

  		(B)	payment is made within three (3) Business Days of its due date;

   

  		(ii)	Non-compliance with insurance requirements or financial covenants

   

  		(A)	the Charterers fail to obtain and/or maintain the Insurances required under Clause 42 (Insurance)
            in accordance with the provisions thereof or any insurer in respect of such Insurances cancels the Insurances or disclaims liability with respect thereto for reasons attributable to the Charterers; or

   

  		(B)	any of the financial covenants contained in Clause 50 (b) (i) and (ii) (Financial covenants)
            are breached when tested;

   

  		(iii)	Other obligations any Obligor does not comply with any provision of the Transaction
            Documents to which it is a party (other than those referred to in sub paragraphs (a)(i) (Non-payment) and (a)(ii) (Non-compliance with insurance requirements or financial covenants) above, each of which shall, for the avoidance of
            doubt and for the purpose of this sub paragraph (a)(iii), be a default which is not capable of remedy) and such non-compliance is not remedied by such Obligor to the Owners' satisfaction within ten (10) Business Days of the earlier of (A) the
            Owners giving notice of the breach to the relevant Obligor, and (B) the date that any responsible officer of the relevant Obligor has actual knowledge of the breach, provided that any failure to provide information or document shall be capable
            of remedy;

   

  		(iv)	Misrepresentation any representation or statement made or deemed to be made by any
            Obligor in or pursuant to a Transaction Document to which it is a party or any other document delivered by or on behalf of an Obligor under or in connection with any Transaction Document to which it is a party is or proves to have been
            incorrect or misleading in any material respect when made or repeated, or deemed to be made or repeated;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    57 

    
      
 

  

   

  		(v)	Cross default

   

  		(A)	any Financial Indebtedness of any of the Obligors is not paid when due, taking into account any
            originally applicable grace period;

   

  		(B)	any Financial Indebtedness of any Obligor is declared to be otherwise becomes due and payable prior
            to its specified maturity as a result of an event of default (however described);

   

  		(C)	any commitment for any Financial Indebtedness of any Obligor is cancelled or suspended by a creditor
            of that Obligor as a result of an event of default (however described); or

   

  		(D)	any enforcement of any Security Interest over any assets of any Obligor in respect of any Financial
            Indebtedness,

   

  provided that no Termination Event will occur under this sub paragraph (a)(v) if; in respect of
      any Guarantor, the aggregate amount of Financial Indebtedness or commitment for Financial Indebtedness falling within sub paragraphs (A) to (D) above is equal to or less than ten million US Dollars (US$10,000,000) (or its equivalent in any other
      currency or currencies);

   

  		(vi)	Insolvency

   

  		(A)	any Obligor:

   

  		(1)	is unable or admits inability to pay its debts as they fall due;

   

  		(2)	suspends making payments on any of its debts;

   

  		(3)	by reason of actual financial difficulties, commences negotiations with one or more of its creditors
            (excluding the Owners in their capacities as such) with a view to rescheduling any of its indebtedness; or

   

  		(B)	a moratorium is declared in respect of any indebtedness of any Obligor;

   

  		(vii)	Insolvency proceedings any corporate action, legal proceedings or other procedure or
            step is taken in relation to:

   

  		(A)	the suspension of payments, a moratorium of any indebtedness, winding up, liquidation, dissolution,
            bankruptcy, administration, provisional supervision or reorganisation (by way of voluntary arrangement, scheme of arrangement or otherwise) of an Obligor other than as part of a solvent reorganisation;

   

  		(B)	a composition, assignment or arrangement with the creditors of an Obligor; or

   

  		(C)	the appointment of a liquidator, receiver, administrator or other similar officer in respect of an
            Obligor or any of its assets,

   

  or any analogous procedure or step is taken in any jurisdiction, provided that this sub
      paragraph (a)(vii) above shall not apply to any winding up petition which is frivolous or vexatious and is discharged, stayed or dismissed within ten (10) Business Days of commencement;

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    58 

    
      
 

  

   

  		(viii)	Repudiation, termination or cancellation etc. of Transaction Documents any Transaction
            Document is terminated, cancelled, repudiated or otherwise ceases to remain in full force and effect;

   

  		(ix)	Material adverse change any other event or events (whether related or not) occurs
            which is a material adverse change from the position applicable as at the date of this Charter in the business, operations, property, financial condition of any Obligor, the effect of which is to impair or prevent the due fulfilment by any
            Obligor of any of its material obligations or undertakings contained in a Transaction Document to which it is a party;

   

  		(x)	Change of control except with the prior written consent of the Owners

   

  the Charterers cease to be a direct wholly owned Subsidiary of the Guarantor Two;

   

  		(xi)	Listing prior to the Guarantee One Release Date, Guarantor One, and following the
            Guarantee One Release Date, Guarantor Two ceases to be a publicly listed entity on the Nasdaq Stock Market or any other recognised stock exchange acceptable to the Owners;

   

  		(xii)	Related Document termination event any event of default, default or termination event
            (however described) occurs under any Related Document; and

   

  		(xiii)	Unlawfulness and invalidity it is or becomes unlawful for an Obligor to perform any of
            its obligations under the Transaction Documents, or any Transaction Document ceases to be in full force and effect.

   

  		(b)	Effect of a Termination Event A Termination Event shall constitute (as the case may
            be) either a repudiatory breach of, or breach of condition by the Charterers under, this Charter or an agreed terminating event the occurrence of which will (in any such case) entitle the Owners to exercise all or any of the remedies set out
            below in this Clause 52.

   

  		(c)	Owners' options after occurrence of Termination Event Without prejudice to the
            forgoing or to any other rights of the Owners under the Charter, at any time after a Termination Event shall have occurred and be continuing following the lapse of any applicable grace period as specified in paragraph (a) (Termination Events)
            above, the Owners may:

   

  		(i)	at their option and by delivering to the Charterers a Termination Notice, terminate this Charter on
            the date specified in such Termination Notice; and/or

   

  		(ii)	apply the Deposit in or towards payment of all amounts payable under the Transaction Documents.

   

  		(d)	Owners' right to repossess On or at any time after a Termination in accordance with
            paragraph (c) (Owners' options after occurrence of Termination Event) above, and provided that the Charterers have failed to pay the Termination Sum in accordance with sub paragraph (e) (Payment of Termination Sum) below, the
            Owners may (but without prejudice to the Charterers' obligations under Clause 44 (Redelivery) and Clause 45 (Redelivery conditions)) retake possession of the Vessel and, the Charterers agree that the Owners, for such purpose, may
            put into force and exercise all their rights and entitlements at law and may enter upon any premises belonging to or in the occupation or under the control of the Charterers where the Vessel may be located as well as giving instructions to the
            Charterers' servants or agents for this purpose.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    59 

    
      
 

  

   

  		(e)	Payment of Termination Sum On the Termination Payment Date in respect of any
            Termination in accordance with paragraph (c) (Owners' options after occurrence of Termination Event) above, the Charterers shall pay to the Owners an amount equal to the Termination Sum. For the avoidance of doubt, the Charterers'
            obligation to pay the Termination Sum (and any of their other obligations under the Transaction Documents) shall not be affected irrespective of the Owners' ability to complete the sale of the Vessel referred to in paragraph (h) below.

   

  		(f)	Owners' application of Termination Sum Following any termination to which this Clause
            52 applies, all sums payable in accordance with paragraph (e) above shall be paid to such account or accounts as the Owners may direct and shall be applied in the Owners' sole discretion towards sums owed by the Obligors under the Transaction
            Documents.

   

  		(g)	Transfer of title If the chartering of the Vessel or, as the case may be, the
            obligation of the Owners to deliver and charter the Vessel to the Charterers is terminated in accordance with the terms of this Charter, the obligation of the Charterers to pay Hire shall cease once the Charterers have made the payment in full
            pursuant to paragraph (e) (Payment of Termination Sum) above to the satisfaction of the Owners, whereupon the Owners shall, in exchange of such payment, arrange for title of the Vessel to be transferred to the Charterers in accordance
            with paragraphs (d) (Title transfer) to (f) (Charterers' letter of indemnity) of Clause 56 (Purchase Obligation and transfer of title).

   

  		(h)	Owners' right to sell the Vessel Following any termination to which this Clause 52
            applies, if the Charterers have not paid to the Owners the Termination Sum in full by the applicable Termination Payment Date (and consequently the Owners have not transferred title to the Vessel to the Charterers (or its nominee) in accordance
            with paragraph (g) above), the Owners shall be entitled (but not obliged) to sell the Vessel and apply the Net Sale Proceeds against the Termination Sum and claim from the Charterers for any shortfall.

   

  		(i)	Charterers have no right to termination Save as otherwise expressly provided in this
            Charter, the Charterers shall not have the right to terminate this Charter any time prior to the expiration of the Agreement Term.

   

  		(j)	Owners' rights cumulative The rights conferred upon the Owners by the provisions of
            this Clause 52 are cumulative and in addition to any rights which they may otherwise have in law or in equity or by virtue of the provisions of this Charter.

   

  		(k)	Surplus of sale proceeds Upon completion of the sale of the Vessel in accordance with
            paragraph (h) above:

   

  		(i)	if the Charterers have not paid to the Owners the Termination Sum in full at the time when the
            Owners have received in full the Net Sale Proceeds and such Net Sale Proceeds exceed the Termination Sum; or

   

  		(ii)	the Charterers have paid to the Owners the Termination Sum in full at the time when the Owners have
            received in full the Net Sale Proceeds,

   

  then any part of such Net Sale Proceeds which exceeds the Termination Sum (in the
      case of (i) above) or such Net Sale Proceeds (in the case of (ii) above) shall be paid by the Owners to the Charterers.

   

  

  AVIC/Golar LNG – BBC Additional Clauses

  
    60 

    
      
 

  

  

  

  53.          Sub-Chartering

   

  		(a)	Restrictions on Sub-Chartering generally The Charterers shall not, without the prior written consent of the Owners:

   

  		(i)	let the Vessel on any demise charter for any period;

   

  		(ii)	enter into any time or consecutive voyage charter in respect of the Vessel (subject to paragraph (b) below);

   

  		(iii)	except as may be permitted under the Sub-Charter, de activate or lay up the Vessel; or

   

  		(iv)	assign their rights under this Charter.

   

  		(b)	Exceptions The restrictions in paragraph (a) above shall not apply to:

   

  		(i)	any Sub-Charter which is on a voyage or time charter basis with a duration (taking into account any option to renew or extend) of less than
            twelve (12) months; or

   

  		(ii)	any Sub-Charter which is on a time charter basis with a duration (taking into account any option to renew or extend) of twelve (12) months or
            more and which would expire before the end of the Charter Period if and only if:

   

  		(A)	the Charterers have, prior to their entering into of such Sub-Charter, notified the Owners in writing of such intended Sub-Charter, provided
            the Owners with any information which the Owners may reasonably request in respect of such Sub-Charter, including (but not limited to) the proposed terms of such Sub-Charter and obtained the Owners' written consent in relation to the
            Charterers' entering into of such Sub-Charter;

   

  		(B)	the Charterers assign to the Owners all the Charterers' earnings arising out of and in connection with such Sub-Charter and all their rights
            and interest in such Sub-Charter on such conditions as the Owners may require (provided that the Charterers' earnings arising out of and in connection with such Sub-Charter and the Charterers' rights and interest in such Sub-Charter are capable
            of being assigned and any conditions to be satisfied in order for such assignment to be effective have been satisfied); and

   

  		(C)	the Charterers shall serve a notice on the relevant Sub-Charterers and shall use reasonable endeavours to obtain a written acknowledgement of
            such assignment from such Sub-Charterers in such form as is required by the Owners or any Finance Party (as the case may be).

   

  54.          Name of Vessel

   

  The Charterers may:

   

  		(a)	choose the initial name of the Vessel, but may only change the initial name of the Vessel with the prior consent of the Owners (such consent
            not to be unreasonably withheld or delayed); and

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    61 

    
      
 

  

   

  		(b)	paint the Vessel in the colours, display the funnel insignia and fly the house flag as required by the Charterers from time to time.

   

  55.          Purchase Option

   

  		(a)	Purchase Option Subject to:

   

  		(i)	no Total Loss under Clause 57 (Total loss) having occurred;

   

  		(ii)	no Termination Event under Clause 52 (Termination Events) having occurred which is continuing;

   

  		(iii)	the Owners having not delivered a Purchase Obligation Notice in accordance with paragraph (b) (Purchase Obligation – outbreak of war)
            of Clause 56;

   

  		(iv)	the Charterers' delivery of the Purchase Option Notice to the Owners at least ninety (90) days prior to the proposed Purchase Option Date; and

   

  		(v)	the Purchase Option Date falling after:

   

  		(A)	the First Anniversary Date; or

   

  		(B)	(unless a Quiet Enjoyment Letter is in place, in which case no Purchase Option may be exercised under this Clause 55(a)(v)(B)), a breach of
            any of the Owners' undertakings set out in paragraphs (c) (No insolvency) and (d) (No Restricted Party) of Clause 79 (Owners' undertakings);

   

  		(C)	a declaration of war by any of the following countries to any of the other following countries: the United States of America, Russia, the
            United Kingdom, France and the People's Republic of China,

   

  the Charterers may purchase the Vessel on the Purchase Option Date for the
      applicable Purchase Option Price always provided that in respect of an exercise of the Purchase Option as a result of Clauses 55(a)(v)(B) or (C) above, there shall be no Purchase Option Fee payable.

   

  		(b)	Title transfer upon exercise of Purchase Option In exchange for payment by the Charterers of the applicable Purchase Option
            Price on the relevant Purchase Option Date, the Owners shall arrange for title of the Vessel to be transferred to the Charterers in accordance with paragraphs (d) (Title transfer) to (f) (Charterers' letter of indemnity) of Clause
            56 (Purchase Obligation and transfer of title).

   

  56.          Purchase Obligation and transfer of title

   

  		(a)	Purchase Obligation - expiry of Agreed Charter Period Unless (i) Total Loss under Clause 57 (Total loss) has occurred,
            (ii) a Termination Event has occurred, (iii) the Purchase Option has been exercised in accordance with the terms of this Charter or (iv) the Owners have delivered a Purchase Obligation Notice in accordance with paragraph (b) of this Clause 56,
            the Owners shall be obliged to sell the Vessel to the Charterers or their nominee and the Charterers shall be obliged to purchase the Vessel or cause their nominee to purchase the Vessel on the date falling eighty four (84) months after the
            Actual Delivery Date by the Charterers' payment of the applicable Purchase Obligation Price.

  

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    62 

    
      
 

  

   

  	

        	(b)	Purchase Obligation - outbreak of war In the event of a declaration of war by any of the following countries to any of the other
            following countries: the United States of America, Russia, the United Kingdom, France and the People's Republic of China, the Owners may at their option request the Charterers to purchase the Vessel by delivering to the Charterers a notice
            requiring the Charterers to purchase the Vessel and the Charterers shall be obliged to or cause their nominee to purchase the Vessel on the Purchase Obligation Date for the applicable Purchase Obligation Price.

   

  		(c)	Intentionally left blank.

   

  		(d)	Title transfer In exchange of full payment by the Charterers of:

   

  		(i)	in each case as applicable:

   

  		(A)	(in the case of the circumstances described in Clause 55 (Purchase Option) the applicable Purchase Option Price;

   

  		(B)	(in the case of the circumstances described in paragraph (a) (Purchase Obligation - expiry of Agreed Charter Period), paragraph or (b)
            (Purchase Obligation - outbreak of war) the applicable Purchase Obligation Price; and

   

  		(ii)	any other sums payable by the Charterers to the Owners under this Charter and subject to compliance with the other conditions set out in this
            Clause 56,

   

  the Owners shall:

   

  		(A)	transfer title to and ownership of the Vessel to the Charterers (or their nominee) by delivering to the Charterers (in each case at the
            Charterers' costs):

   

  		(1)	a duly executed and notarised, legalised and/or apostilled (as applicable) bill of sale; and

   

  		(2)	the Title Re Transfer PDA;

   

  		(3)	any other documents required by the Flag State to effectively transfer title; and

   

  		(B)	procure the deletion of any mortgage or prior Security Interest in relation to the Vessel at the Owners' costs,

   

  provided always that prior to such transfer or deletion (as the case may be),
      the Owners shall have received the letter of indemnity as referred to in paragraph (f) (Charterers' letter of indemnity) below from the Charterers, and the Charterers shall have performed all their obligations in connection with this Charter
      and with the Vessel, including without limitation the full payment of all Unpaid Sums, taxes, charges, duties, costs and disbursements (including legal fees) in relation to the Vessel.

   

  		(e)	“As is, where is” title transfer

   

  		(i)	The transfer in accordance with paragraph (d) (Title transfer) above shall be made in all respects at the Charterers' expense on an "as
            is, where is" basis and the Owners shall give the Charterers (or their nominee) no representations, warranties, agreements or guarantees whatsoever concerning or in connection with the Vessel, the Insurances, the Vessel's condition, state or
            class or anything related to the Vessel, expressed or implied, statutory or otherwise.

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    63 

    
      
 

  

   

  		(ii)	Without prejudice to sub paragraph (i) above, the Charterers confirm that:

   

  		(A)	as the Vessel will at all relevant times be in their physical possession and use pursuant to this Charter, they do not require any inspection
            of the Vessel; and

   

  		(B)	they will accept unconditionally the Vessel and its classification records for the purpose of any transfer under this Clause 56.

   

  		(iii)	The place of documentary closing shall be at such place or places as may be agreed by the parties in writing.

   

  		(f)	Charterers' letter of indemnity The Charterers shall, immediately prior to the receipt of the bill of sale, furnish the Owners
            with a letter of indemnity (in a form satisfactory to the Owners (acting reasonably)) duly executed by the Charterers and the Guarantors and which shall provide (among other things) that:

   

  		(i)	the Owners and/or the Finance Parties (if any) have, and will have, no interest, concern or connection with the Vessel after the date of such
            letter; and

   

  		(ii)	the Charterers and the Guarantors shall jointly and severally indemnify the Owners and keep the Owners indemnified against any claims made by
            any person arising in connection with the Vessel other than a claim arising out of or in connection with the Finance Documents that is not a result of:

   

  		(A)	a Termination Event; or

   

  		(B)	any non-compliance by any Obligor of any provision of the Transaction Documents to which such Obligor is a party.

   

  		(g)	Owners' indemnity The Owners shall indemnify the Charterers against any claims by any Finance Party against the Vessel after the
            expiration of the Agreement Term other than a claim arising out of or in connection with the Finance Documents that is a result of:

   

  		(i)	a Termination Event; or

   

  		(ii)	any non-compliance by any Obligor in respect of any provision of the Transaction Documents to which such Obligor is a party.

   

  57.          Total Loss

   

  		(a)	Total Loss Termination If circumstances exist giving rise to a Total Loss, the Charterers shall promptly notify the Owners of
            the facts of such Total Loss. If the Charterers wish to proceed on the basis of a Total Loss and advise the Owners thereof, the Owners shall agree to the Vessel being treated as a Total Loss for all purposes of this Charter. The Owners shall
            thereupon abandon the Vessel to the Charterers and/or execute such documents as may be required to enable the Charterers to abandon the Vessel to insurers and claim a Total Loss. Without prejudice to the obligations of the Charterers to pay to
            the Owners all monies then due or thereafter to become due under this Charter, if the Vessel shall become a Total Loss during the Charter Period, then the Charter Period shall end on the Settlement Date.

  

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    64 

    
      
 

  

   

  	

        	(b)	Occurrence of Total Loss If the Vessel becomes a Total Loss during the Charter Period, the Charterers shall, on the Settlement
            Date, pay to the Owners the amount calculated in accordance with paragraph (c) (Payment on Settlement Date) below.

   

  		(c)	Payment on Settlement Date On the Settlement Date, the Charterers shall pay to the Owners an amount equal to the Termination Sum
            as at the Termination Payment Date. The foregoing obligations of the Charterers under this paragraph (c) shall apply regardless of whether or not any moneys are payable under any Insurances in respect of the Vessel, regardless of the amount
            payable thereunder, regardless of the cause of the Total Loss and regardless of whether or not any of the said compensation shall become payable.

   

  		(d)	Payment of Total Loss Proceeds All Total Loss Proceeds shall be paid to such account or accounts as the Owners may direct and
            shall be applied towards satisfaction of the Termination Sum and any other sums due and payable under the Transaction Documents. To the extent that there is any surplus after such application, such surplus shall be returned to the Charterers.

   

  		(e)	Constructive Total Loss The Charterers shall, at the Owners' request, provide evidence satisfactory to the Owners (acting
            reasonably) as to the date on which the constructive total loss of the Vessel occurred pursuant to the definition of Total Loss.

   

  		(f)	Payment unconditional The Charterers shall continue to pay Hire on the days and in the amounts required under this Charter
            notwithstanding that the Vessel shall become a Total Loss provided always that no further instalments of Hire shall become due and payable after the Charterers have made the payment required by paragraph (c) above.

   

  58.          Appointment of Approved Manager

   

  		(a)	Subject to the other provisions of this Charter, the Owners confirm their consent to the proposed appointment by the Charterers of:

   

  		(i)	Golar Management Limited to be the Approved Commercial Manager; and

   

  		(ii)	Golar Management Norway AS to be the Approved Technical Manager,

   

  it being understood that each such appointment shall take effect on or before the
      Actual Delivery Date.

   

  		(b)	The Charterers covenant not to appoint anyone other than an Approved Manager as manager of the Vessel without the prior written consent of the
            Owners (such consent not to be unreasonably withheld or delayed).

   

  59.          Fees and expenses

   

  		(a)	Handling Fee The Charterers shall pay to the Owners the Handling Fee and provide documentary evidence of such payment within
            five (5) Business Days of the date of this Charter and in any event before the Actual Delivery Date provided that if this Charter is terminated and cancelled in accordance with paragraph (c) (Cancelling events) of Clause 34 (Background)
            on or before the fifth (5th) Business Day after the date of this Charter, the Handling Fee shall become immediately due and payable upon such termination and cancellation.

   

  		(b)	Other costs and expenses The Charterers shall bear all reasonably incurred and properly documented costs, fees (including legal
            fees) and disbursements incurred by the Owners and the Charterers in connection with:

   

  		(i)	the negotiation, preparation and execution of this Charter and the other Transaction Documents;

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    65 

    
      
 

  

   

  		(ii)	the sale, purchase and delivery of the Vessel under the MOA and this Charter;

   

  		(iii)	any amendment, waiver or consent under this Charter or any other Transaction Documents requested by the Charterers;

   

  		(iv)	preparation or procurement of any survey, inspection, valuation, tax or insurance advice;

   

  		(v)	the exercise of the Purchase Option pursuant to Clause 55 (Purchase Option) or the fulfilment of the Purchase Obligation pursuant to
            Clause 56 (Purchase Obligation and transfer of title);

   

  		(vi)	the occurrence of a Termination Event or a Total Loss;

   

  		(vii)	the incorporation of the Owners and (if applicable) the registration of the Owners as a foreign maritime entity (or its equivalent) in the
            Flag State;

   

  		(viii)	the registration of the Vessel under the laws and flag of the Flag State; and

   

  		(ix)	such other events or circumstances for which this Charter or any other Transaction Document expressly provides that the costs shall be borne
            by the Charterers,

   

  but excluding, in each case, costs and expenses in respect of the winding up or
      liquidation of the Owners.

   

  		(c)	Commitment Fee

   

  		(i)	The Charterers shall pay to the Owners (for their own account) a commitment fee (the "Commitment Fee") computed and accruing at the
            rate of one per cent. (1.00%) per annum on the total amount of the Financing Principal.

   

  		(ii)	The Commitment Fee shall accrue on a daily basis from the date of this Charter until the earliest of (i) the Actual Delivery Date, (ii) the
            Cancelling Date and (iii) the date this Charter is terminated and cancelled in accordance with paragraph (c) (Cancelling events) of Clause 34 (Background) (the "Final Commitment Fee Payment Date").

   

  		(iii)	The Commitment Fee is payable (A) on the last day of each successive period of three (3) months from the date of this Charter up to the Final
            Commitment Fee Payment Date and (B) on the Final Commitment Fee Payment Date.

   

  60.          Stamp duties

   

  The Charterers shall pay promptly all stamp, documentary or other like duties and
      Taxes to which the Charter, the MOA and the other Transaction Documents may be subject or give rise and shall indemnify the Owners on demand against any and all liabilities with respect to or resulting from any delay on the part of the Charterers to
      pay such duties or taxes.

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    66 

    
      
 

  

   

  61.          Operational notifiable events

   

  		(a)	Notifiable events The Owners are to be advised as soon as possible after the occurrence of any of the following events:

  

  

   

  		(i)	when a material condition of class is applied by the Classification Society;

   

  		(ii)	whenever the Vessel is arrested, confiscated, seized, requisitioned, impounded, forfeited or detained by any government or other competent
            authorities or any other persons;

   

  		(iii)	whenever a class or flag authority refuses to issue or withdraw trading certification;

   

  		(iv)	in the event of a fire requiring the use of fixed fire systems or collision / grounding;

   

  		(v)	whenever the Vessel is planned for dry docking, whether in accordance with paragraph (g) of Clause 10 (Maintenance and Operation) or
            any Sub-Charter, and whether routine or emergency;

   

  		(vi)	the Vessel is taken under tow;

   

  		(vii)	any death or serious injury on board;

   

  		(viii)	any damage to the Vessel the repair costs of which (whether before or after adjudication) exceed the Major Casualty Amount; or

   

  		(ix)	when any material alteration is proposed to be made to the Vessel.

   

  		(b)	Without limiting the generality of paragraph (a) (Notifiable events) above, the Charterers shall, on the Actual Delivery Date and then
            every three (3) months thereafter until the expiry of the Agreement Term, supply (or cause to be supplied) to the Owners a ship management report containing the following information in respect of the Vessel:

   

  		(i)	any casualty or other accident or damage to the Vessel;

   

  		(ii)	the crew retention rate;

   

  		(iii)	results of any port state control inspections and any flag state control inspections carried out over the past three (3) months;

   

  		(iv)	results of any inspections carried out over the past three (3) months by any technical and marine superintendents; and

   

  		(v)	all other material information (including copies where available) relating to the Vessel's operation requested by the Owners.

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    67 

    
      
 

  

   

  62.          Further indemnities

   

  		(a)	Further indemnities Whether or not any of the transactions contemplated hereby are consummated, the Charterers shall, in
            addition to the provisions under Clause 17 (Indemnity)(Part II) of this Charter and subject to sub clause (b) below, indemnify, protect, defend and hold harmless the Owners and their officers, directors, agents and employees (collectively, the
            "Indemnitees") throughout the Agreement Term from, against and in respect of, any and all liabilities, obligations, losses, damages, penalties, fines, fees, claims, actions, proceedings, judgement, order or other sanction, lien, salvage,
            general average, suits, costs, expenses and disbursements, including reasonable legal fees and expenses, of whatsoever kind and nature (collectively, the "Expenses"), imposed on, suffered or incurred by or asserted against any
            Indemnitee, in any way relating to, resulting from or arising out of or in connection with, in each case, directly or indirectly, any one or more of the following:

  

  

   

  		(i)	this Charter and any other Transaction Documents and any amendment, supplement or modification thereof or thereto requested by the Charterers;

   

  		(ii)	the Vessel or any part thereof, including with respect to:

   

  		(A)	the manufacture, design, possession, use or non-use, operation, maintenance, testing, repair, overhaul, condition, alteration, modification,
            addition, improvement, storage, seaworthiness, replacement, repair of the Vessel or any part (including, in each case, latent or other defects, whether or not discoverable and any claim for patent, trademark, or copyright infringement and all
            liabilities, obligations, losses, damages and claims in any way relating to or arising out of spillage of cargo or fuel, out of injury to persons, properties or the environment or strict liability in tort);

   

  		(B)	any claim or penalty arising out of violations by any Obligor, Approved Commercial Manager, Approved Technical Manager, Sub-Charterers or any
            other person of any applicable law (including any law relating to safety at sea, the ISM Code, any Environmental Law or any Sanctions);

   

  		(C)	any Environmental Claim;

   

  		(D)	death or property damage of shippers or others;

   

  		(E)	any liens in respect of the Vessel or any part thereof unless arising under or in connection with the Finance Documents in the absence of a
            Charterers' default; or

   

  		(F)	any registration and/or tonnage fees (whether periodic or not) in respect of the Vessel payable to any registry of ships and any service fees
            payable to any service provider in relation to maintaining such registration at any registry of ships, including, without limitation, any registration fees and annual registration fees in connection with registering and maintaining the Owners
            as a foreign maritime entity (or its equivalent) in the relevant Flag State (or such other flag state as the Owners may consent to in writing) for the purpose of registering and maintaining the Owners' title with the relevant flag;

   

  		(iii)	any breach of or failure to perform or observe, or any other non-compliance with, any covenant or agreement or other obligation to be
            performed by the Charterers under any Transaction Document to which it is a party or the falsity of any representation or warranty of the Charterers in any Transaction Document to which it is a party or the occurrence of any Termination Event
            which is continuing;

   

  		(iv)	in connection with:

   

  		(A)	preventing or attempting to prevent the arrest, confiscation, seizure, taking and execution, requisition, impounding, forfeiture or detention
            of the Vessel; or

   

  		(B)	securing or attempting to secure the release of the Vessel, in each case in connection with the exercise of the rights of a holder of a lien
            created by the Charterers;

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    68 

    
      
 

  

   

  		(v)	incurred or suffered by the Owners in:

   

  		(A)	procuring the delivery of the Vessel to the Charterers under Clause 35 (Delivery)

   

  		(B)	recovering possession of the Vessel following termination of this Charter under Clause 52 (Termination Events); or

   

  		(C)	arranging for a transfer of the Vessel's title in accordance with paragraph (b) (Title transfer upon exercise of Purchase Option) of
            Clause 55 (Purchase Option), or paragraph (d) (Title transfer) of Clause 56 (Purchase Obligation and transfer of title);

   

  		(vi)	arising from the Master or officers of the Vessel or the Charterers' agents signing bills of lading or other documents;

   

  		(vii)	in connection with:

   

  		(A)	the arrest, seizure, taking into custody or other detention of the Vessel by any court or other tribunal or by any governmental entity
            (including any prevention or attempt to prevent such arrest, seizure, taking into custody or other detention); or

   

  		(B)	subjection to distress by reason of any process, claim, exercise of any rights conferred by a lien or by any other action whatsoever,

   

  of the Vessel which are expended, suffered or incurred as a result of or in connection with any claim
      or against, or liability of, the Charterers or any other member of the Group, together with any costs and expenses or other outgoings which may be paid or incurred by the Owners in releasing the Vessel from any such arrest, seizure, custody,
      detention or distress.

   

  		(b)	Cost indemnities The Charterers shall pay to the Owners promptly on the Owners' written demand the amount of all costs and
            expenses (including legal fees) incurred by the Owners in connection with the enforcement of, or the preservation of any rights under, any Transaction Document including (without limitation) any losses, costs and expenses which the Owners may
            from time to time sustain, incur or become liable for by reason of the Owners being deemed by any court or authority to be an operator, or in any way concerned in the operation, of the Vessel.

   

  		(c)	Run off indemnities Without prejudice to any right to damages or other claim which either party may, at any time, have against
            the other hereunder, it is hereby agreed and declared that the indemnities of the Owners by the Charterers contained in this Charter shall continue in full force and effect for a period of six (6) months after the Agreement Term.

   

  63.          Set off

   

  The Owners may set off any matured and/or contingent obligation due from the
      Charterers under the Transaction Documents against any obligation (whether matured or not) owed by the Owners to the Charterers, regardless of the place of payment or currency of either obligation. If the obligations are in different currencies, the
      Owners may convert either obligation at a market rate of exchange in their usual course of business for the purpose of the set off.

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    69 

    
      
 

  

   

  64.          Further assurances and undertakings

   

  		(a)	Each Party shall make all applications and execute all other documents and do all other acts and things as may be necessary to implement and
            to carry out their obligations under, and the intent of, this Charter.

   

  		(b)	The Parties shall act in good faith to each other in respect of any dealings or matters under, or in connection with, this Charter.

   

  65.          Cumulative rights

   

  The rights, powers and remedies provided in this Charter are cumulative and not
      exclusive of any rights, powers or remedies at law or in equity unless specifically otherwise stated.

   

  66.          No waiver

   

  No delay, failure or forbearance by a party to exercise (in whole or in part) any
      right, power or remedy under, or in connection with, this Charter will operate as a waiver. No waiver of any breach of any provision of this Charter will be effective unless that waiver is in writing and signed by the party against whom that waiver
      is claimed. No waiver of any breach will be, or be deemed to be, a waiver of any other or subsequent breach.

   

  67.          Entire agreement

   

  This Charter contains all the understandings and agreements of whatsoever kind and
      nature existing between the parties in respect of this Charter, the rights, interests, undertakings agreements and obligations of the parties to this Charter and shall supersede all previous and contemporaneous negotiations and agreements.

   

  68.          Amendments

   

  This Charter may not be amended, altered or modified except by a written
      instrument executed by each of the parties to this Charter.

   

  69.          Invalidity

   

  If any term or provision of this Charter or the application thereof to any person
      or circumstances shall to any extent be invalid or unenforceable the remainder of this Charter or application of such term or provision to persons or circumstances (other than those as to which it is already invalid or unenforceable) shall (to the
      extent that such invalidity or unenforceability does not materially affect the operation of this Charter) not be affected thereby and each term and provision of this Charter shall be valid and be enforceable to the fullest extent permitted by law.

   

  70.          English language

   

  All notices, communications and financial statements and reports under or in
      connection with this Charter and the other Transaction Documents shall be in English language or, if in any other language, shall be accompanied by a translation into English. In the event of any conflict between the English text and the text in any
      other language, the English text shall prevail.

   

  71.          No partnership

   

  Nothing in this Charter creates, constitutes or evidences any partnership, joint
      venture, agency, trust or employer/employee relationship between the parties, and neither party may make, or allow to be made any representation that any such relationship exists between the parties. Neither party shall have the authority to act for,
      or incur any obligation on behalf of, the other party, except as expressly provided in this Charter.

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    70 

    
      
 

  

   

  72.         Disclosure of information

   

  At any time after the date of this Charter and during the Agreement Term, each of
      the Owners and the Charterers shall keep confidential and shall not, without the prior written consent of the other, disclose to any person:

   

  		(a)	the financial details of, or the transactions contemplated by, the Transaction Documents; or

   

  		(b)	any information provided pursuant to any of the Transaction Documents, 

   provided that the Parties may disclose any such information
      without consent: 

    

   

    

  		(i)	to any person to the extent required for the purpose of any litigation, arbitration or regulatory proceedings or procedure;

   

  		(ii)	to any person to whom, and to the extent that, information is required to be disclosed by any applicable law;

   

  		(iii)	to any investor, potential investor, purchaser or potential purchaser of or in any member of the Group;

   

  		(iv)	to any other member of the Group and, if required, to the financiers of such member of the Group;

   

  		(v)	to any Governmental Agency;

   

  		(vi)	to the Finance Parties or any party to any of the Transaction Documents;

   

  		(vii)	to the auditors, legal, financial or insurance advisors, underwriters or brokers of the Owners, the Charterers or of any of the persons listed
            in the paragraphs above or the lenders or financiers of or to the Group who shall, in each case, be instructed or under a professional obligation to maintain the confidentiality of any information supplied to them; or

   

  		(viii)	in any manner contemplated by any of the Transaction Documents.

   

  73.       Notices

   

  		(a)	Any communication to be made under or in connection with this Charter shall be made in writing and, unless otherwise stated, may be made by
            fax, letter or email.

   

  		(b)	The address, fax number and email address (and the department or officer, if any, for whose attention the communication is to be made) of each
            party to this Charter for any communication or document to be made or delivered under or in connection with this Charter are:

   

  

  	 	 	 	 
	 	  (i)	in the case of the Charterers:
	 	 	 
	 	 	Golar Hull M2026 Corp.
	 	 	 
	 	 	Address:	c/o Golar Power Limited
	 	 	 	6th Floor, The Zig Zag
	 	 	 	70 Victoria Street
	 	 	 	London SW1E 6SQ
	 	 	 	England

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    71 

    
      
 

  

   

  	 	 	Fax No.:	+44 (0)20 7063 7901
	 	 	Email:	Eduardo.Maranhao@golar.com/ Rodrigo.Fortes@golar.com
	 	 	Attention:	Eduardo Maranhao / Rodrigo Fortes
	 	 	 	 
	 	 	with a copy to:
	 	 	 
	 	 	Golar LNG Limited
	 	 	 
	 	 	Address:	6th Floor, The Zig Zag
	 	 	 	70 Victoria Street
	 	 	 	London SW1E 6SQ
	 	 	 	England
	 	 	 	 
	 	 	Fax No.:	+44 (0)20 7063 7901
	 	 	Email:	brian.tienzo@golar.com
	 	 	Attention:	Brian Tienzo
	 	 	 	 
	 	  (ii)	in the case of the Owners:
	 	 	 
	 	 	Noble Celsius Shipping Limited
	 	 	 
	 	 	Address:	18/F, CATIC Tower, 212 Jiang Ning Road, Shanghai, China
	 	 	 	 
	 	 	Fax No.:	+86 21 52895389
	 	 	 	 
	 	 	Email address: pengqingfeng@chinaleasing.net
	 	 	 
	 	 	Attention:	Peng Qingfeng

   

  or any substitute address, fax number, email address, department or officer as
      either party may notify to the other by not less than five (5) Business Days' notice.

   

  		(c)	Any communication or document made or delivered by one party to this Charter to the other under or in connection with this Charter will only
            be effective:

   

  		(i)	if by way of fax or email, when sent with no error message received; or

   

  		(ii)	if by way of letter, when it has been left at the relevant address or five (5) Business Days after being deposited in the post postage prepaid
            in an envelope addressed to it at that address;

   

  and, if a particular department or officer is specified as part of its address
      details provided under paragraph (b) above, if addressed to that department or officer.

   

  Any communication or document which becomes effective, in accordance with this
      paragraph (c), after 5.00 pm in the place of receipt shall be deemed only to become effective on the following day.

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    72 

    
      
 

  

   

  74.          Survival of Charterers' obligations

  

   

  The termination of this Charter for any cause whatsoever shall not affect the
      right of the Owners to recover from the Charterers any money due to the Owners in consequence thereof and all other rights of the Owners (including but not limited to any rights, benefits or indemnities which are expressly provided to continue after
      the termination of this Charter) are reserved hereunder.

   

  75.          Counterparts

   

  This Charter may be executed in any number of counterparts and any single
      counterpart or set of counterparts signed, in either case, by all the parties hereto shall be deemed to constitute a full and original agreement for all purposes.

   

  76.          Third Parties Act

   

  		(a)	Any person which is an Indemnitee or a Finance Party from time to time and is not a party to this Charter shall be entitled to enforce such
            terms of this Charter as provided for in this Charter in relation to the obligations of the Charterers to such Indemnitee or (as the case may be) Finance Party, subject to the Third Parties Act. The Third Parties Act applies to this Charter as
            set out in this Clause 76.

   

  		(b)	Save as provided above, a person who is not a party to this Charter has no right under the Third Parties Act to enforce or to enjoy the
            benefit of any term of this Charter.

   

  77.          Waiver of immunity

   

  		(a)	To the extent that any Party may in any jurisdiction claim for itself or its assets or revenues immunity from any proceedings, suit,
            execution, attachment (whether in aid of execution, before judgment or otherwise) or other legal process and to the extent that such immunity (whether or not claimed) may be attributed in any such jurisdiction to such Party or its assets or
            revenues, each Party agrees, to the extent permitted by any applicable law, not to claim and irrevocably waive, to the extent permitted by any applicable law, such immunity to the full extent permitted by the laws of such jurisdiction.

   

  		(b)	Each Party consents generally in respect of any proceedings to the giving of any relief and the issue of any process in connection with such
            proceedings including (without limitation) the making, enforcement or execution against any property whatsoever (irrespective of its use or intended use) of any order or judgment which is made or given in such proceedings. Each Party agrees
            that in any proceedings in England this waiver shall have the fullest scope permitted by the English State Immunity Act 1978 and that this waiver is intended to be irrevocable for the purposes of such Act.

   

  78.          FATCA

   

  		(a)	For the purpose of this Clause 78, the following terms shall have the following meanings:

   

  "Code" means the United States Internal Revenue Code of 1986, as amended.

   

  "FATCA" means:

   

  		(i)	sections 1471 through 1474 of the Code and any associated regulations;

   

  		(ii)	any treaty, law, regulation or other official guidance enacted in any other jurisdiction, or relating to an intergovernmental agreement
            between the US and any other jurisdiction, which (in either case) facilitates the implementation of paragraph (i) above; or

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    73 

    
      
 

  

   

  		(iii)	any agreement pursuant to the implementation of paragraphs (i) or (ii) above with the US Internal Revenue Service, the US government or any
            governmental or taxation authority in any other jurisdiction.

   

  "FATCA Deduction" means a deduction or withholding from a payment under this
      Charter or the other Transaction Documents required by or under FATCA.

   

  		(b)	The Charterers shall procure that:

   

  		(i)	if an Obligor is required to make a FATCA Deduction, that Obligor shall make that FATCA Deduction and any payment required in connection with
            that FATCA Deduction within the time allowed and in the minimum amount required by FATCA;

   

  		(ii)	if a FATCA Deduction is required to be made by an Obligor, the amount of the payment due from that Obligor shall be increased to an amount
            which (after making any FATCA Deduction) leaves an amount equal to the payment which would have been due if no FATCA Deduction had been required; and

   

  		(iii)	within thirty (30) days of making either a FATCA Deduction or any payment required in connection with that FATCA Deduction, the Obligor making
            that FATCA Deduction or payment shall deliver to the Owners evidence satisfactory to the Owners that the FATCA Deduction has been made or (as applicable) any appropriate payment has been paid to the relevant governmental or taxation authority.

   

  79.          Owner's undertakings

   

  		(a)	Owners' financial statements The Owners undertake that, for the duration of the Agreement Term and upon prior written request of
            either Guarantor for the purpose of such Guarantor and/or any Guarantor Group's financing reporting, the Owners shall supply or cause to be supplied to the Charterers the following documents and shall use their best endeavours to do so within
            the timelines specified below:

   

  		(i)	as soon as the same become available, but in any event within fifty nine (59) days after the end of each financial year of the Owners, the
            audited annual financial statements of the Owners for that financial year; and

   

  		(ii)	as soon as the same become available, but in any event within five (5) Business Days after the end of each financial quarter of the Owners,
            the unaudited quarterly management accounts of the Owners for that financial quarter.

   

  		(b)	Costs relating to Owners' financial statements The Owners and the Charterers agree and acknowledge that all costs arising out of
            or in connection with the Owners' preparation or procurement of:

   

  		(i)	the audited annual financial statements in accordance with sub paragraph (a)(i) (Owners' financial statements) above shall be borne by
            the Charterers; and

   

  		(ii)	the unaudited quarterly management accounts in accordance with sub paragraph (a)(ii) (Owners' financial statements) above shall be
            borne by the Owners.

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    74 

    
      
 

  

   

  		(c)	No insolvency The Owners undertake that, for the duration of the Charter Period, no judgment of their insolvency or bankruptcy
            and no order for their winding up or liquidation will be made.

   

  		(d)	No Restricted Party The Owners undertake that, for the duration of the Charter Period, the Owners will not become a Restricted
            Party.

   

  80.          Conflicts

   

  Unless stated otherwise, in the event of there being any conflict between the
      provisions of Clauses 1 (Definitions) (Part II) to 31 (Notices) (Part II) and the provisions of Clauses 32 (Definitions) to 80 (Conflicts), the provisions of Clauses 32 (Definitions) to 80 (Conflicts) shall
      prevail.

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    75 

    
      
 

  

   

  SCHEDULE 1

      FORM OF PROTOCOL OF DELIVERY AND ACCEPTANCE

   

  PROTOCOL OF DELIVERY AND ACCEPTANCE

   

  It is hereby certified that pursuant to a bareboat charter dated                      2020
      and made between Noble Celsius Shipping Limited (the "Owners") as owners and Golar Hull M2026 Corp. (the "Bareboat Charterers") as bareboat charterers (as may be amended and supplemented from time to time, the "Bareboat
      Charter") in respect of one (1) 160,000 m3 LNG carrier named "Golar Celsius" and registered under the laws and flag of The Republic of the Marshall Islands with IMO
      number 9626027 (the "Vessel"), the Vessel is delivered for charter by the Owners to the Bareboat Charterers, and accepted by the Bareboat Charterers from the Owners at                      hours (Hong Kong time) on the date hereof in
      accordance with the terms and conditions of the Bareboat Charter.

   

  IN WITNESS WHEREOF, the Owners and the Bareboat Charterers have caused this PROTOCOL OF
      DELIVERY AND ACCEPTANCE to be executed by their duly authorised representative on this       day of            in

   

  

  	THE OWNERS	 	THE BAREBOAT CHARTERERS
	NOBLE CELSIUS SHIPPING LIMITED	 	GOLAR HULL M2026 CORP.
	by:	 	by:
	 	 	 
	Name:	 	Name:
	Title:	 	Title:
	Date:	 	Date:

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    76 

    
      
 

  

   

  SCHEDULE 2

      FORM OF TITLE RE TRANSFER PROTOCOL OF DELIVERY AND ACCEPTANCE

   

  PROTOCOL OF DELIVERY AND ACCEPTANCE

   

  m.v. "Golar Celsius"

   

  Noble Celsius Shipping Limited of Trust Company Complex, Ajeltake Road, Ajeltake
      Island, Majuro, the Marshall Islands, MH96960 (the "Owners") deliver to Golar Hull M2026 Corp. whose registered address is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, the Marshall Islands, MH96960 (the "Bareboat
        Charterers") the Vessel described below and the Bareboat Charterers accept delivery of, title and risk to the Vessel pursuant to the terms and conditions of the bareboat charter dated                 2020 (as may be amended and supplemented
      from time to time) and made between (1) the Owners and (2) the Bareboat Charterers.

   

  

  	Name of Vessel:	m.v. "Golar Celsius"
	 	 
	Flag:	The Republic of the Marshall Islands
	 	 
	Place of Registration:	The Republic of the Marshall Islands
	 	 
	IMO Number:	9626027
	 	 
	Gross Registered Tonnage:	102100 tons
	 	 
	Net Registered Tonnage:	30631 tons
	 	 
	Dated:	        20
	 	 
	At:	        hours (Hong Kong time)

   

  Place of delivery:

   

  

  	THE OWNERS	 	THE BAREBOAT CHARTERERS
	NOBLE CELSIUS SHIPPING LIMITED	 	GOLAR HULL M2026 CORP.
	by:	 	by:
	 	 	 
	Name:	 	Name:
	Title:	 	Title:
	Date:	 	Date:

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    77 

    
      
 

  

   

  SCHEDULE 3

      FORM OF COMPLIANCE CERTIFICATE

   

  Part I

      Form of GLNG Compliance Certificate

   

  

  	To:	NOBLE CELSIUS SHIPPING LIMITED
	 	Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, the Marshall Islands, MH96960
	 	(the "Owners")
	 	 
	From:	GOLAR LNG LIMITED
	 	2nd Floor, S.E. Pearman Building
	 	9 Par la Ville Road
	 	Hamilton HM11
	 	Bermuda

  

   

  Dated:

   

  Dear Sirs

   

  Bareboat charter in relation to the 160,000 m3 LNG carrier named "Golar Celsius" dated [I] 2020 and made between the Owners (as owners) and Golar Hull M2026 Corp. (as bareboat charterers) (the "Charter")

   

  		1.	We refer to the Charter.

   

  		2.	This is a GLNG Compliance Certificate. Terms defined in the Charter have the same meaning when used in this GLNG Compliance Certificate unless given a different meaning
            in this GLNG Compliance Certificate.

   

  		3.	We confirm that: as at the date on which the financial statements accompanying this GLNG Compliance Certificate were drawn up:

   

  [Insert details of covenants to be certified]

   

  [Provide details of calculations of financial covenants]

   

  		4.	[We confirm that no Termination Event is continuing.]1

   

  For and on behalf of

   

  Golar LNG Limited

   

  By:   _____________________________  

  Title:

   

  

  
  
     

  

  
  

  1 If this statement cannot be made, the certificate should identify any Termination Event that is continuing and the steps, if any, being taken to remedy it.

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    78 

    
      
 

  

   

  Part II

      Form of Golar Power Compliance Certificate

   

  

  	To:	NOBLE CELSIUS SHIPPING LIMITED
	 	Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, the Marshall Islands, MH96960 
	 	(the "Owners")
	 	 
	From:	GOLAR LNG LIMITED
	 	2nd Floor, S.E. Pearman Building
	 	9 Par la Ville Road
	 	Hamilton HM11
	 	Bermuda

   

  Dated:

   

  Dear Sirs

   

  Bareboat charter in relation to the 160,000 m3 LNG carrier named "Golar Celsius" dated [I] 2020 and made between the Owners (as owners) and Golar Hull M2026 Corp. (as bareboat charterers) (the "Charter")

   

  		1.	We refer to the Charter.

   

  		2.	This is a GLNG Compliance Certificate. Terms defined in the Charter have the same meaning when used in this GLNG Compliance Certificate unless given a different meaning
            in this GLNG Compliance Certificate.

   

  		3.	We confirm that: as at the date on which the financial statements accompanying this GLNG Compliance Certificate were drawn up:

   

  [Insert details of covenants to be certified]

   

  [Provide details of calculations of financial covenants]

   

  		4.	[We confirm that no Termination Event is continuing.]1

   

  For and on behalf of

   

  Golar Power Limited

   

  By:   ______________________________  

  Title:

   

  

  
  
     

  

  
  

  1 If this statement cannot be
      made, the certificate should identify any Termination Event that is continuing and the steps, if any, being taken to remedy it.

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  
    79 

    
      
 

  

   

  SIGNATURE PAGE

   

  ADDITIONAL CLAUSES

      TO BAREBOAT CHARTER FOR LNG CARRIER "GOLAR CELSIUS"

   

  

  	THE OWNERS	 	THE CHARTERERS
	NOBLE CELSIUS SHIPPING LIMITED	 	GOLAR HULL M2026 CORP.
	by:	 	by:
	 	 	 
	/s/ Peng Qingfeng	 	/s/ Rodrigo Magalhaes Fortes
	Name: Peng Qingfeng	 	Name: Rodrigo Magalhaes Fortes
	Title: Director	 	Title: Attorney-in-fact
	Date: 3 March 2020	 	Date: 3 March 2020

   

  AVIC/Golar LNG – BBC Additional Clauses

   

  80

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00313-of-00352.parquet"}]]