Rule 10 Release Calls


On the cesser of insurance in respect of an entered ship for any reason, the Managers may, on their own initiative or at the request of the Member, release the Member from liability for further calls in respect of such ship upon such terms (including the payment of a Release Call) as the Managers in their discretion may consider to be appropriate in all the circumstances. A release call in respect of such ship and the amount of such assessment shall be payable in full by the Member on demand without any set-off by the Member.