Common use of Administration and Settlement of Legal Actions Clause in Contracts

Administration and Settlement of Legal Actions. If any Legal Action is commenced against or is required to be commenced in favor of any Company Group Member or any of the Vessels, the Manager shall arrange for the commencement or defense of such Legal Action, as the case may be, in the name of, on behalf of and at the expense of the Company Group Member, including retaining and instructing legal counsel, investigating the substance of the Legal Action and entering pleadings with respect to the Legal Action. The Manager shall assist the Company in administering and supervising any such Legal Actions and shall keep the Company advised of the status thereof. The Manager may settle any Legal Action on behalf of a Company Group Member where the amount of settlement is less than $500,000 with the approval of the President or the Chief Financial Officer and, in excess of such amount, with the approval of the Board of Directors.

Administration and Settlement of Legal Actions. If any Legal Action is commenced against or is required to be commenced in favor of any the Company Group Member or any of the Vessels, the Manager Administrator shall arrange for the commencement or defense of such Legal Action, as the case may be, in the name of, on behalf of and at the expense of the Company Group MemberCompany, including retaining and instructing legal counsel, investigating the substance of the Legal Action and entering pleadings with respect to the Legal Action. The Manager Administrator shall assist the Company in administering and supervising any such Legal Actions and shall keep the Company advised of the status thereof. The Manager Administrator may settle any Legal Action on behalf of a Company Group Member where the amount of settlement is less than $500,000 with the approval of the President or the Chief Financial Officer and, in excess of such amount, with the approval of the Board of Directors.

Administration and Settlement of Legal Actions. If any Legal Action is commenced against or is required to be commenced in favor of any Company Group Member or any of the Vessels, the Manager shall arrange for the commencement or defense of such Legal Action, as the case may be, in the name of, on behalf of and at the expense of the Company Group Member, including retaining and instructing legal counsel, investigating the substance of the Legal Action and entering pleadings with respect to the Legal Action. The Manager shall assist the Company in administering and supervising any such Legal Actions and shall keep the Company advised of the status thereof. The Manager may settle any Legal Action on behalf of a Company Group Member where the amount of settlement is less than $500,000 50,000 with the approval of the President or Chief Executive Officer and the Chief Financial Officer and, in excess of such amount, with the approval of the Board of Directors.

Administration and Settlement of Legal Actions. If any Legal Action is commenced against or is required to be commenced in favor of any Company the Group Member or any of the Vessels, the Manager Managers shall arrange for the commencement or defense of such Legal Action, as the case may be, in the name of, on behalf of and at the expense of the Company Group MemberGroup, including retaining and instructing legal counsel, investigating the substance of the Legal Action and entering pleadings with respect to the Legal Action. The Manager Managers shall assist the Company Group in administering and supervising any such Legal Actions and shall keep the Company Group advised of the status thereof. The Manager Managers may settle any Legal Action on behalf of a Company Group Member where the amount of settlement is less than $500,000 with the approval of the President Chief Executive Officer or the Chief Financial Officer and, in excess of such amount, with the approval of the Board of Directors.

Administration and Settlement of Legal Actions. If any Legal Action is commenced against or is required to be commenced in favor favour of any Group Company Group Member or any Vessel, the Manager, with the approval of the VesselsPresident and Chief Operating Officer and the Chief Financial Officer, the Manager shall will arrange for the commencement or defense defence of such Legal Action, as the case may be, in the name of, on behalf of and at the expense of the Company Group MemberCompany, including retaining and instructing legal counsel, investigating the substance of the Legal Action and entering pleadings with respect to the Legal Action. The Manager shall assist the Company in administering and supervising any such Legal Actions and shall keep the Company advised of the status thereof. The Manager may settle any Legal Action on behalf of a the Group Company Group Member where the amount of settlement is less than $500,000 50,000 with the approval of the President or and Chief Operating Officer and the Chief Financial Officer and, in excess of such amount, with the approval of the Board of Directors.

Administration and Settlement of Legal Actions. If any Legal Action is commenced against or is required to be commenced in favor of any Company the Group Member or any of the Vessels, the Manager Managers shall arrange for the commencement or defense of such Legal Action, as the case may be, in the name of, on behalf of and at the expense of the Company Group MemberGroup, including retaining and instructing legal counsel, investigating the substance of the Legal Action and entering pleadings with respect to the Legal Action. The Manager Managers shall assist the Company Group in administering and supervising any such Legal Actions and shall keep the Company Group advised of the status thereof. The Manager Managers may settle any Legal Action on behalf of a Company Group Member where the amount of settlement is less than $500,000 [500,000] with the approval of the President Chief Executive Officer or the Chief Financial Officer and, in excess of such amount, with the approval of the Board of Directors.

Administration and Settlement of Legal Actions. If any Legal Action is commenced against or is required to be commenced in favor of any Company the Group Member or any of the VesselsVessel, the Supervision Manager shall arrange for the commencement or defense of such Legal Action, as the case may be, in the name of, on behalf of and at the expense of the Company Group MemberGroup, including retaining and instructing legal counsel, investigating the substance of the Legal Action and entering pleadings with respect to the Legal Action. The Supervision Manager shall assist the Company Group in administering and supervising any such Legal Actions and shall keep the Company Group advised of the status thereof. The Supervision Manager may settle any Legal Action on behalf of a Company Group Member where the amount of settlement is less than $500,000 with the approval of the President Chief Executive Officer or the Chief Financial Officer and, in excess of such amount, with the approval of the Board of Directors.