Common use of ADMINISTRATION AND VOTING Clause in Contracts

ADMINISTRATION AND VOTING. 6.1 The Parties will establish a communications structure to jointly coordinate the day-to-day operational activities authorized under the Agreement. In furtherance of the foregoing, the ACC established hereunder is authorized to interchange information and documentation with the Parties’ respective information technology systems, and may coordinate the communication among such systems. 6.2 Voting under this Agreement shall be based on one vote per Party. Actions taken on major issues, which shall mean those concerning the scope of the service cooperation, the commencement or termination of Loops, the introduction of new vessels in existing Loops, the slot allocation shares of each Party, the financial arrangements with respect to slot exchanges, the addition of a new party, or on any amendment of this Agreement, shall be reached by unanimous agreement of all Parties. On all other matters, i.e. on routine matters unless otherwise provided herein or otherwise agreed by the Parties, a majority decision shall prevail. A majority vote shall require more than 50% of outstanding votes (for a five Party agreement, a majority vote shall require 3 or more votes), provided that in the case of a split decision on routine operational matters, the vessel operator may make the decision based on the applicable established operating procedures of that vessel operator, with the basic guiding rule that vessels being on schedule and meeting their proforma windows shall take priority. The Parties may discuss and agree from time to time on other voting rules for specific decisions not otherwise set forth in this subparagraph. 6.3 The following persons are authorized to subscribe to and file this Agreement and any accompanying materials, as well as any subsequent modifications to this Agreement which may be adopted by the Parties: (a) Any authorized officer of each of the Parties; and (b) Legal counsel for the Parties collectively or individually. 6.4 The Parties may implement this Agreement by decisions made or actions taken at meetings or by telephone, fax, e-mail, or exchange of other writing.

ADMINISTRATION AND VOTING. 6.1 The Parties will establish a communications structure to jointly coordinate the day-to-day operational activities authorized under the Agreement. In furtherance of the foregoing, the ACC established hereunder is authorized to interchange information and documentation with the Parties’ respective information technology systems, and may coordinate the communication among such systems. 6.2 Voting under this Agreement shall be based on one vote per Party. Actions taken on major issues, which shall mean those concerning the scope of the service cooperation, the commencement or termination of Loops, the introduction of new vessels in existing Loops, the slot allocation shares of each Party, the financial arrangements with respect to slot exchanges, the addition of a new party, or on any amendment of this Agreement, shall be reached by unanimous agreement of all Parties. On all other matters, i.e. on routine matters unless otherwise provided herein or otherwise agreed by the Parties, a majority decision shall prevail. A majority vote shall require more than 50% of outstanding votes Third Revised Page No. 10 (for a five three Party agreement, a majority vote shall require 3 2 or more votes), provided that in the case of a split decision on routine operational matters, the vessel operator may make the decision based on the applicable established operating procedures of that vessel operator, with the basic guiding rule that vessels being on schedule and meeting their proforma windows shall take priority. The Parties may discuss and agree from time to time on other voting rules for specific decisions not otherwise set forth in this subparagraph. 6.3 The following persons are authorized to subscribe to and file this Agreement and any accompanying materials, as well as any subsequent modifications to this Agreement which may be adopted by the Parties: (a) Any authorized officer of each of the Parties; and (b) Legal counsel for the Parties collectively or individually. 6.4 The Parties may implement this Agreement by decisions made or actions taken at meetings or by telephone, fax, e-mail, or exchange of other writing.

ADMINISTRATION AND VOTING. 6.1 The Parties will establish a communications structure to jointly coordinate the day-to-day operational activities authorized under the Agreement. In furtherance of the foregoing, the ACC established hereunder is authorized to interchange information and documentation with the Parties’ respective information technology systems, and may coordinate the communication among such systems. 6.2 Voting under this Agreement shall be based on one vote per Party. Actions taken on major issues, which shall mean those concerning the scope of the service cooperation, the commencement or termination of Loops, the introduction of new vessels in existing Loops, the slot allocation shares of each Party, the financial arrangements with respect to slot exchanges, the addition of a new party, or on any amendment of this Agreement, shall be reached by unanimous agreement of all Parties. On all other matters, i.e. on routine matters unless otherwise provided herein or otherwise agreed by the Parties, a majority decision shall prevail. A majority vote shall require more than 50% of outstanding votes (for a five Party agreement, a THE Alliance Agreement FMC Agreement No. 012439-002 Second Revised Page No. 10 majority vote shall require 3 or more votes; for a three Party agreement, a majority shall require 2 or more votes), provided that in the case of a split decision on routine operational matters, the vessel operator may make the decision based on the applicable established operating procedures of that vessel operator, with the basic guiding rule that vessels being on schedule and meeting their proforma windows shall take priority. The Parties may discuss and agree from time to time on other voting rules for specific decisions not otherwise set forth in this subparagraph. 6.3 The following persons are authorized to subscribe to and file this Agreement and any accompanying materials, as well as any subsequent modifications to this Agreement which may be adopted by the Parties: (a) Any authorized officer of each of the Parties; and (b) Legal counsel for the Parties collectively or individually. 6.4 The Parties may implement this Agreement by decisions made or actions taken at meetings or by telephone, fax, e-mail, or exchange of other writing.

ADMINISTRATION AND VOTING. 6.1 The Parties will establish a communications structure to jointly coordinate the day-to-day operational activities authorized under the Agreement. In furtherance of the foregoing, the ACC established hereunder is authorized to interchange information and documentation with the Parties’ respective information technology systems, and may coordinate the communication among such systems. 6.2 Voting under this Agreement shall be based on one vote per Party. Actions taken on major issues, which shall mean those concerning the scope of the service cooperation, the commencement or termination of Loops, the introduction of new vessels in existing Loops, the slot allocation shares of each Party, the financial arrangements with respect to slot exchanges, the addition of a new party, or on any amendment of this Agreement, shall be reached by unanimous agreement of all Parties. On all other matters, i.e. on routine matters unless otherwise provided herein or otherwise agreed by the Parties, a majority decision shall prevail. A majority vote shall require more than 50% of outstanding votes (for a five Party agreement, a FMC Agreement No. 012439-002003 Second Third Revised Page No. 10 majority vote shall require 3 or more votes; (for a three Party agreement, a majority shall require 2 or more votes), provided that in the case of a split decision on routine operational matters, the vessel operator may make the decision based on the applicable established operating procedures of that vessel operator, with the basic guiding rule that vessels being on schedule and meeting their proforma windows shall take priority. The Parties may discuss and agree from time to time on other voting rules for specific decisions not otherwise set forth in this subparagraph. 6.3 The following persons are authorized to subscribe to and file this Agreement and any accompanying materials, as well as any subsequent modifications to this Agreement which may be adopted by the Parties: (a) Any authorized officer of each of the Parties; and (b) Legal counsel for the Parties collectively or individually. 6.4 The Parties may implement this Agreement by decisions made or actions taken at meetings or by telephone, fax, e-mail, or exchange of other writing.

ADMINISTRATION AND VOTING. 6.1 The Parties will establish a communications structure to jointly coordinate the day-to-day operational activities authorized under the Agreement. In furtherance of the foregoing, the ACC established hereunder is authorized to interchange information and documentation with the Parties’ respective information technology systems, and may coordinate the communication among such systems. 6.2 Voting under this Agreement shall be based on one vote per Party. Actions taken on major issues, which shall mean those concerning the scope of the service cooperation, the commencement or termination of Loops, the introduction of new vessels in existing Loops, the slot allocation shares of each Party, the financial arrangements with respect to slot exchanges, the addition of a new party, or on any amendment of this Agreement, shall be reached by unanimous agreement of all Parties. On all other matters, i.e. on routine matters unless otherwise provided herein or otherwise agreed by the Parties, a majority decision shall prevail. A majority vote shall require more than 50% of outstanding votes Fourth Revised Page No. 10 (for a five four Party agreement, a majority vote shall require 3 or more votes), provided that in the case of a split decision on routine operational matters, the vessel operator may make majority is determined by two votes which have a majority of 60% of the decision based on outstanding shares of the applicable established operating procedures of that vessel operatorallocated slots and deadweight capacity for the containerships in the relevant loop, with which will become the basic guiding rule that vessels being on schedule and meeting their proforma windows shall take prioritydeciding factor. The Parties may discuss and agree from time to time on other voting rules for specific decisions not otherwise set forth in this subparagraph. Notwithstanding the foregoing, if Hyundai Merchant Marine Co, Ltd. does not receive a BSA for the trade between Northern Europe/Mediterranean/Adriatic on the one hand and North America on the other hand, it shall have no voting rights with respect to issues relating to services in those trades. 6.3 The following persons are authorized to subscribe to and file this Agreement and any accompanying materials, as well as any subsequent modifications to this Agreement which may be adopted by the Parties: (a) Any authorized officer of each of the Parties; and (b) Legal counsel for the Parties collectively or individually. 6.4 The Parties may implement this Agreement by decisions made or actions taken at meetings or by telephone, fax, e-mail, or exchange of other writing.

ADMINISTRATION AND VOTING. 6.1 The Parties will establish a communications structure to jointly coordinate the day-to-day operational activities authorized under requirements of the Agreement. In furtherance of the foregoing, the ACC established hereunder is authorized to interchange information and documentation with the Parties’ respective information technology systems, and may coordinate the communication among such systems. 6.2 Voting under this Agreement shall be based on one vote per Party. Actions taken on major issues, which shall mean those concerning Agreement membership, any change in the scope of the service Parties’ cooperation, the commencement or termination product changes, employment of Loopsvessels, the introduction of new vessels in existing Loopsterminal selection, the slot allocation shares of each Partyshares, the financial arrangements with respect to slot exchangesarrangements, the addition of a new party, or on any amendment of this AgreementOCC and other committee functions, shall be reached by unanimous agreement of all Parties. Matters other than major issues involving a service operated by a single Party shall require a majority decision, including the vote of that Party. On all other matters, i.e. on routine matters unless otherwise provided herein or otherwise agreed by the Parties, a majority decision shall prevail. A majority vote shall require more greater than 50% of outstanding votes (for a five Party agreement, a majority vote shall require 3 or more votes)The OCEAN Alliance Agreement FMC Agreement No. 012426 First Revised Page No. 10 plus one vote, provided that in the case of a split decision on routine operational matters, the vessel operator may make the decision based on the applicable established operating procedures of that vessel operator, with the basic guiding rule that vessels being on schedule and meeting their proforma pro forma windows shall take priority. The Parties may discuss and agree from time to time on other voting rules for specific decisions not otherwise set forth in this subparagraph. 6.3 The following persons are authorized to subscribe to and file this Agreement and any accompanying materials, as well as any subsequent modifications to this Agreement which may be adopted by the Parties: (a) Any authorized officer of each of the Parties; and (b) Legal counsel for the Parties collectively or individually. 6.4 The Parties may implement this Agreement by decisions made or actions taken at meetings or by telephone, fax, e-mail, or exchange of other writing.

ADMINISTRATION AND VOTING. 6.1 The Parties will establish a communications structure to jointly coordinate the day-to-day operational activities authorized under the Agreement. In furtherance of the foregoing, the ACC established hereunder is authorized to interchange information and documentation with the Parties’ respective information technology systems, and may coordinate the communication among such systems. 6.2 Voting under this Agreement shall be based on one vote per Party. Actions taken on major issues, which shall mean those concerning the scope of the service cooperation, the commencement or termination of Loops, the introduction of new vessels in existing Loops, the slot allocation shares of each Party, the financial arrangements with respect to slot exchanges, the addition of a new party, or on any amendment of this Agreement, shall be reached by unanimous agreement of all Parties. On all other matters, i.e. on routine matters unless otherwise provided herein or otherwise agreed by the Parties, a majority decision shall prevail. A majority vote shall require more than 50% of outstanding votes Fifth Revised Page No. 10 (for a five four Party agreement, a majority vote shall require 3 or more votes), provided that in the case of a split decision on routine operational matters, the vessel operator may make majority is determined by two votes which have a majority of 60% of the decision based on outstanding shares of the applicable established operating procedures of that vessel operatorallocated slots and deadweight capacity for the containerships in the relevant loop, with which will become the basic guiding rule that vessels being on schedule and meeting their proforma windows shall take prioritydeciding factor. The Parties may discuss and agree from time to time on other voting rules for specific decisions not otherwise set forth in this subparagraph. Notwithstanding the foregoing, if HMM Company Limited does not receive a BSA for the trade between Northern Europe/Mediterranean/Adriatic on the one hand and North America on the other hand, it shall have no voting rights with respect to issues relating to services in those trades. 6.3 The following persons are authorized to subscribe to and file this Agreement and any accompanying materials, as well as any subsequent modifications to this Agreement which may be adopted by the Parties: (a) Any authorized officer of each of the Parties; and (b) Legal counsel for the Parties collectively or individually. 6.4 The Parties may implement this Agreement by decisions made or actions taken at meetings or by telephone, fax, e-mail, or exchange of other writing.