Common use of Administration by Manager Clause in Contracts

Administration by Manager. The Manager shall oversee banking services for the Company and shall establish in the name of the Company an operating account, a retention account and such other accounts with such financial institutions as the Company may request. The Manager shall administer and manage all of the Company’s cash and accounts, including making any deposits and withdrawals reasonably necessary for the management of its business and day-to-day operations. The Manager shall promptly deposit all moneys payable to the Company and received by the Manager into a bank account held in the name of the Company.

Appears in 7 contracts

Samples: Management Agreement (Teekay Tankers Ltd.), Noncompetition Agreement (Teekay Tankers Ltd.), Management Agreement (Genco Shipping & Trading LTD)

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Administration by Manager. The Manager shall oversee banking services for the Company and shall establish in the name of the Company an operating account, a retention account and such other banking accounts with such financial institutions as the Company may request. The Manager shall administer and manage all of the Company’s cash and accounts, including making any deposits and withdrawals reasonably necessary for the management of its business and day-to-day operations. The Manager shall promptly deposit all moneys payable to the Company and received by the Manager into a bank account held in the name of the Company.

Appears in 4 contracts

Samples: Administrative Services Agreement (OceanPal Inc.), Administrative Services Agreement (OceanPal Inc.), Administrative Services Agreement (OceanPal Inc.)

Administration by Manager. The Manager shall oversee banking services for the Company and shall establish in the name of the Company an operating account, a retention account and such other banking accounts with such financial institutions as the Company may request. The Manager shall administer and manage all of the Company’s 's cash and accounts, including making any deposits and withdrawals reasonably necessary for the management of its business and day-to-day operations. The Manager shall promptly deposit all moneys payable to the Company and received by the Manager into a bank account held in the name of the Company.

Appears in 2 contracts

Samples: Administrative Services Agreement (Diana Shipping Inc.), Administrative Services Agreement (Diana Containerships Inc.)

Administration by Manager. The Manager shall oversee banking services for the Company and shall establish in the name of the Company an operating account, a retention account and such other accounts and with such financial institutions as the Company may request. The Manager shall administer and manage all of the Company’s cash and accounts, including making any deposits and withdrawals reasonably necessary for the management of its business and day-to-day operations. The Manager shall promptly deposit all moneys payable to the Company and received by the Manager into a bank account held in the name of the Company.

Appears in 2 contracts

Samples: Management Agreement (Seaspan CORP), Management Agreement (Seaspan CORP)

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Administration by Manager. The Manager shall will oversee banking services for the Company and shall will establish in the name of the Company an operating account, a retention account and such other accounts and with such financial institutions as the Company may request. The Manager shall will administer and manage all of the Company’s cash and accounts, including making any deposits and withdrawals reasonably necessary for the management of its business and day-to-day operations. The Manager shall will promptly deposit all moneys payable to the Company and received by the Manager into a bank account held in the name of the Company.

Appears in 2 contracts

Samples: Management Agreement (Seaspan CORP), Management Agreement (Seaspan CORP)

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