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FD&D (CLASS 6) / PART II / RULE 13
RELEASE
13.1 Request by Member for Release
Upon or at any time after the cesser of insurance in respect of an Entered Ship for any reason, the Managers may, at the request of the Member, release the Member from liability for further contribution to Calls in respect of such Ship on such terms and including the payment of such amount, as the Managers, in their sole discretion, may deem to be appropriate in the circumstances.
13.2 No Request by Member for Release
In the absence of such a request from the Member the Managers shall nevertheless have power to assess, as at the date of the cesser, or at any time thereafter, the liability of any Member for further Contributions in respect of such Ship and the amount of such assessment shall be payable by the Member on demand without any set-off.
13.3 Scope of Release
The Managers may release a Member from liability from further contribution to either or both of the Estimated Total Call or Exceptional Calls made under Rule 11.3 Exceptional Calls.
13.4 Effect of Payment of Release Call
Upon payment of such assessment and fulfilment of such other terms as the Managers, in their sole discretion, may deem to be appropriate in the circumstances, the Member shall be released from liability for further contribution to Calls in respect of such Ship.
13.5 Effect of Release
As from the date of the release of an Entered Ship under this Rule 13 in respect of the Estimated Total Call and Exceptional Calls the Member shall be under no further liability to contribute to the corresponding Calls in respect of that Ship under Rule 10 Contribution by Way of Calls nor shall the Member have any right to share in any return of Contributions or other receipts under Rule 37.2 Disposal of Excess Funds or Rule 39 Reserves in respect of that Ship.