Common use of AGREEMENT AUTHORITY Clause in Contracts

AGREEMENT AUTHORITY. ‌ 5.1 PDL NPDL shall sell and PFLG shall purchase, on a used/not used basis, thirty percent (30%) of the space available on the vessel (or a maximum of 30% of the capacity of the vessel by weight) (including thirty percent (30%) of the available reefer plug capacity) on each sailing of PDL’s NPDL's vessel in the Trade. Additional slots may be sold/purchased on an ad 1 The inclusion of non-U.S. trades within the scope of this Agreement does not bring such trades within the scope of the U.S. Shipping Act or the jurisdiction of the Federal Maritime Commission ("FMC"). hoc basis, and such additional space shall not be unreasonably withheld. To determine the space allocation used by any breakbulk cargo loaded on the Vessel pursuant to this Agreement, the amount of any such breakbulk cargo shall be converted at a rate of 17 revenue tonnes per TEU. 5.2 The sale of slots under Article 5.1 shall be on such terms and such conditions as the Parties may agree from time to time. 5.3 PFLG shall not sub-charter slots made available to it hereunder to any third party, including PFLG affiliates, without the prior written consent of PDL NPDL. 5.4 Each party is responsible for the port charges attributed to its own cargo, but are authorized to discuss and agree on their respective responsibilities for port charges assessed to PDL NPDL as the vessel operator at island ports in the trade. 5.5 The Parties are authorized to discuss and agree upon routine operational and administrative matters including, but not limited to, procedures for allocating space, forecasting, stevedoring and terminal operations, recordkeeping, responsibility for loss, damage or injury (including provisions of bills of lading relating to same), the interchange of information and data regarding all matters within the scope of this Agreement, terms and conditions for force majeure relief, insurance, guarantees, indemnification, and compliance with customs, safety, security, documentation, and other regulatory requirements. 5.6 Each Party shall retain its separate identity and shall have separate sales, pricing and marketing functions. Each Party shall issue its own bills of lading and handle its own claims. 5.7 The Parties shall collectively implement this Agreement by meetings, writings, or other communications between them or within committees established by them, and make such other arrangements as may be necessary or appropriate to effectuate the purposes and provisions of this Agreement.

AGREEMENT AUTHORITY. ‌ 5.1 PDL NPDL shall sell and PFLG shall purchase, on a used/not used basis, thirty percent (30%) of the space available on the vessel (or a maximum of 30% of the capacity of the vessel by weight) (including thirty percent (30%) of the available reefer plug capacity) on each sailing of PDL’s NPDL's vessel in the Trade. Additional slots may be sold/purchased on an ad hoc basis, and such 1 The inclusion of non-U.S. trades within the scope of this Agreement does not bring such trades within the scope of the U.S. Shipping Act or the jurisdiction of the Federal Maritime Commission ("FMC"). hoc basis, and such additional space shall not be unreasonably withheld. To determine the space allocation used by any breakbulk cargo loaded on the Vessel pursuant to this Agreement, the amount of any such breakbulk cargo shall be converted at a rate of 17 revenue tonnes per TEU. 5.2 The sale of slots under Article 5.1 shall be on such terms and such conditions as the Parties may agree from time to time. 5.3 PFLG shall not sub-charter slots made available to it hereunder to any third party, including PFLG affiliates, without the prior written consent of PDL NPDL. 5.4 Each party is responsible for the port charges attributed to its own cargo, but are authorized to discuss and agree on their respective responsibilities for port charges assessed to PDL NPDL as the vessel operator at island ports in the trade. 5.5 The Parties are authorized to discuss and agree upon routine operational and administrative matters including, but not limited to, procedures for allocating space, forecasting, stevedoring and terminal operations, recordkeeping, responsibility for loss, damage or injury (including provisions of bills of lading relating to same), the interchange of information and data regarding all matters within the scope of this Agreement, terms and conditions for force majeure relief, insurance, guarantees, indemnification, and compliance with customs, safety, security, documentation, and other regulatory requirements. 5.6 Each Party shall retain its separate identity and shall have separate sales, pricing and marketing functions. Each Party shall issue its own bills of lading and handle its own claims. 5.7 The Parties shall collectively implement this Agreement by meetings, writings, or other communications between them or within committees established by them, and make such other arrangements as may be necessary or appropriate to effectuate the purposes and provisions of this Agreement.

AGREEMENT AUTHORITY. ‌ 5.1 PDL NPDL shall sell and PFLG shall purchase, The Parties are authorized to charter space to/from one another for the carriage of ro-ro cargo on a usednon-exclusive, “as needed/not used as available” basis, thirty percent (30%) as frequently as needed. To facilitate efficient operations under the Agreement, the Parties may discuss and agree upon the capacity and features of the space available on vessels; the vessel (or a maximum of 30% schedule and selection of the capacity ports of loading and discharging; the place and timing of the vessel by weight) (including thirty percent (30%) provision of the available reefer plug capacity) on each sailing of PDL’s NPDL's vessel in the Trade. Additional slots may be sold/purchased on an ad 1 The inclusion of non-U.S. trades within the scope of space; arrangements with stevedores; procedures for booking space, for documentation, for special cargo handling instructions or requirements; and for other administrative matters relating to chartering and transportation provided under this Agreement does not bring such trades within the scope of the U.S. Shipping Act or the jurisdiction of the Federal Maritime Commission ("FMC"). hoc basis, and such additional Agreement. 5.2 Compensation for any space shall not be unreasonably withheld. To determine the space allocation used by any breakbulk cargo loaded on the Vessel chartered pursuant to this Agreement, the amount of any such breakbulk cargo Agreement shall be converted at a rate of 17 revenue tonnes per TEU. 5.2 The sale of slots under Article 5.1 shall be on upon such terms and at such conditions hire as the Parties may agree from time to time agree. Billing and payment terms and conditions shall also be as agreed between the Parties from time to time. 5.3 PFLG shall not sub-charter slots made available to it hereunder to any third party, including PFLG affiliates, without the prior written consent of PDL NPDL. 5.4 Each party is responsible for the port charges attributed to its own cargo, but are authorized to discuss and agree on their respective responsibilities for port charges assessed to PDL NPDL as the vessel operator at island ports in the trade. 5.5 The Parties are authorized to may discuss and agree upon routine operational and such general administrative matters and other terms and conditions concerning the implementation of this Agreement as may be necessary or convenient from time to time, including, but not limited to, their respective rights, change in ownership, insolvency, performance procedures and penalties, procedures for WWLWWOcean/Hyundai Glovis Space Charter Agreement FMC Agreement No. 012410-003 (2nd Edition) Original Page No. 3 allocating space, forecasting, stevedoring and terminal operations, recordkeepingstowage planning, schedule adjustments, record-keeping, responsibility for loss, damage loss or injury (including provisions of bills of lading relating to same)damage, the interchange of information and data regarding all matters within the scope of this Agreement, terms and conditions for force majeure relief, insurance, guaranteesliabilities (including for stowaways and/or contraband), the terms of their respective bills of lading, claims, indemnification, and compliance with customsgeneral average, safetysalvage, securityconsequences for delays, port omissions, documentation, joint negotiations, and other regulatory requirementstreatment of hazardous and dangerous cargoes. 5.6 5.4 Each Party shall retain its separate identity and shall have separate sales, pricing and marketing functions. Each Party shall issue its own bills of lading and lading, handle its own claims, and shall be fully responsible for cargoes moved under its own bills of lading. 5.7 5.5 Pursuant to 46 C.F.R. § 535.406, any further agreement contemplated herein will not be valid until filed and effective under the Shipping Act of 1984, as amended, except to the extent that such agreement concerns routine operational or administrative matters as defined in 46 C.F.R. § 535.408. 5.6 The Parties shall collectively implement this Agreement by meetings, writings, or other communications between them or within committees established by them, and make such other arrangements as may be necessary or appropriate to effectuate the purposes and provisions of or this Agreement.. WWLWWOcean/Hyundai Glovis Space Charter Agreement FMC Agreement No. 012410-003 (2nd Edition) Original Page No. 4