Builder’s Obligation of Assignment. Upon termination of this Agreement by Owner, Owner may, in its absolute discretion, require Builder promptly to assign and/or deliver to Owner, to the extent Builder is permitted to do so, all or any (in each of the following cases, only as they directly relate to the Vessel): # bids or proposals; # subcontracts; # construction plans; # Materials, tools and equipment (to the extent paid for by Owner); # rental agreements; # Work, including the Vessel (to the extent Owner has title to same in accordance with Section 24.1); and # any other commitments directly related to the Vessel. In the event of any such assignments as required hereunder, Builder shall promptly execute and deliver to Owner written assignments of the foregoing in a form reasonably acceptable to Owner.

Upon termination of this Agreement by Owner, Owner may, in its absolute discretion, require Builder promptly to assign and/or deliver to Owner, to the extent Builder is permitted to do so, all or any (in each of the following cases, only as they directly relate to the Vessel): # bids or proposals; # subcontracts; # construction plans; # Materials, tools and equipment (to the extent paid for by Owner); # rental agreements; # Work, including the Vessel (to the extent Owner has title to same in accordance with Section 22.1); and # any other commitments directly related to the Vessel. In the event of any such assignments as required hereunder, Builder shall promptly execute and deliver to Owner written assignments of the foregoing in a form reasonably acceptable to Owner.

Except as provided below, Owner may at any time assign this Agreement or its rights hereunder upon prior written notice to Builder, and any such assignment by Owner shall not be grounds for termination of this Agreement. For purposes of this Section, the term “assign this Agreement” shall include any pre-delivery sale or assignment of Owner’s interest in the Vessel and the Materials in which title has vested in Owner pursuant to Article 24.