Common use of AVAILABILITY OF OFFICERS Clause in Contracts

AVAILABILITY OF OFFICERS. Section 1.1 The Manager shall provide the Group with the services of those Executive Officers from time to time agreed with the Parent. Section 1.2 The Executive Officers are entitled to direct the Manager to remove and replace any individual made available to any member of the Group by the Manager serving as an officer or any senior manager serving as head of a business unit, in either case, of that member of the Group other than any Executive Officer, from such position. The Board of Directors, in its sole discretion, shall be entitled to direct the Manager to remove any individual made available to the Parent by the Manager serving as an Executive Officer from such position and to appoint such other individual to serve as successor as the Board of Directors shall approve. Furthermore, the Manager agrees that it will not remove any individual made available to any member of the Group by the Manager serving as an officer or senior manager of that member of the Group from his or her position without the consent of the Executive Officers and, in the case of any Executive Officer, the Board of Directors. If any officer or senior manager who is made available to the Parent by the Manager resigns, is terminated or otherwise vacates his or her office, the Manager shall, as soon as practicable after acceptance of any resignation or after termination, use reasonable best efforts to identify suitable candidates for replacement of such officer. Section 1.3 The Parent may employ directly, at its sole cost, any other officers, senior managers or employees as it may deem necessary, and such individuals will not be subject to this Agreement. Section 1.4 The Manager will report to the Parent and the Board of Directors through any one of more of the Executive Officers who are made available to the Parent by the Manager or by the Chief Executive Officer of the Manager.

Appears in 2 contracts

Samples: Management Agreement (Safe Bulkers, Inc.), Management Agreement (Safe Bulkers, Inc.)

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AVAILABILITY OF OFFICERS. Section 1.1 SECTION 8.1 The Manager shall provide the Group with the services of those Executive Officers from time to time agreed with the Parent. Section 1.2 SECTION 8.2 The Executive Officers are entitled to direct the Manager to remove and replace any individual made available to any member of the Group by the Manager serving as an officer or any senior manager serving as head of a business unit, in either case, of that member of the Group other than any Executive Officer, from such position. The Board of Directors, in its sole discretion, shall be entitled to direct the Manager to remove any individual made available to the Parent by the Manager serving as an Executive Officer from such position and to appoint such other individual to serve as successor as the Board of Directors shall approve. Furthermore, the Manager agrees that it will not remove any individual made available to any member of the Group by the Manager serving as an officer or senior manager of that member of the Group from his or her position without the consent of the Executive Officers and, in the case of any Executive Officer, the Board of Directors. If any officer or senior manager who is made available to the Parent by the Manager resigns, is terminated or otherwise vacates his or her office, the Manager shall, as soon as practicable after acceptance of any resignation or after termination, use reasonable best efforts to identify suitable candidates for replacement of such officer. Section 1.3 SECTION 8.3 The Parent may employ directly, at its sole cost, any other officers, senior managers or employees as it may deem necessary, and such individuals will not be subject to this Agreement. Section 1.4 SECTION 8.4 The Manager will report to the Parent and the Board of Directors through any one of more of the Executive Officers who are made available to the Parent by the Manager or by the Chief Executive Officer of the Manager.

Appears in 2 contracts

Samples: Management Agreement (Safe Bulkers, Inc.), Management Agreement (Safe Bulkers, Inc.)

AVAILABILITY OF OFFICERS. Section 1.1 SECTION 8.1 The Manager shall provide the Group with the services of those Executive Officers from time to time agreed with the Parent, with the remuneration for such Executive Officers to be reflected in the Management Fee and paid by the Manager. Initially such Executive Officers shall consist of the Chief Executive Officer, the Chief Operating Officer, the President and the Chief Financial Officer. Section 1.2 SECTION 8.2 The Executive Officers are entitled to direct the Manager to remove and replace any individual made available to any member of the Group by the Manager serving as an officer or any senior manager serving as head of a business unit, in either case, of that member of the Group other than any Executive Officer, from such position. The Board of Directors, in its sole discretion, shall be entitled to direct the Manager to remove any individual made available to the Parent by the Manager serving as an Executive Officer from such position and to appoint such other individual to serve as successor as the Board of Directors shall approve. Furthermore, the Manager agrees that it will not remove any individual made available to any member of the Group by the Manager serving as an officer or senior manager of that member of the Group from his or her position without the consent of the Executive Officers and, in the case of any Executive Officer, the Board of Directors. If any officer or senior manager who is made available to the Parent by the Manager resigns, is terminated or otherwise vacates his or her office, the Manager shall, as soon as practicable after acceptance of any resignation or after termination, use reasonable best efforts to identify suitable candidates for replacement of such officer. Section 1.3 SECTION 8.3 The Parent may employ directly, at its sole cost, any other officers, senior managers or employees as it may deem necessary, and such individuals will not be subject to this Agreement. Section 1.4 SECTION 8.4 The Manager will report to the Parent and the Board of Directors through any one of or more of the Executive Officers who are made available to the Parent by the Manager or by the Chief Executive Officer of the ManagerOfficers.

Appears in 1 contract

Samples: Management Agreement (Safe Bulkers, Inc.)

AVAILABILITY OF OFFICERS. Section 1.1 The Manager shall provide the Group with the services of those Executive Officers from time to time agreed with the Parent. Section 1.2 The Executive Officers are entitled to direct the Manager to remove and replace any individual made available to any member of the Group by the Manager serving as an officer or any senior manager serving as head of a business unit, in either case, of that member of the Group other than any Executive Officer, from such position. The Board of Directors, in its sole discretion, shall be entitled to direct the Manager to remove any individual made available to the Parent by the Manager serving as an Executive Officer from such position and to appoint such other individual to serve as successor as the Board of Directors shall approve. Furthermore, the Manager agrees that it will not remove any individual made available to any member of the Group by the Manager serving as an officer or senior manager of that member of the Group from his or her position without the consent of the Executive Officers and, in the case of any Executive Officer, the Board of Directors. If any officer or senior manager who is made available to the Parent by the Manager resigns, is terminated or otherwise vacates his or her office, the Manager shall, as soon as practicable after acceptance of any resignation or after termination, use reasonable best efforts to identify suitable candidates for replacement of such officer. Section 1.3 The Parent may employ directly, at its sole cost, any other officers, senior managers or employees as it may deem necessary, and such individuals will not be subject to this Agreement.. USActive 37252385.18 Section 1.4 The Manager will report to the Parent and the Board of Directors through any one of more of the Executive Officers who are made available to the Parent by the Manager or by the Chief Executive Officer of the Manager.

Appears in 1 contract

Samples: Management Agreement (Safe Bulkers, Inc.)

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AVAILABILITY OF OFFICERS. Section 1.1 SECTION 8.1. The Manager shall provide the Group with the services of those Executive Officers from time to time agreed with the Parent, with the remuneration for such Executive Officers to be reflected in the Management Fee and paid by the Manager. Initially such Executive Officers shall consist of the Chief Executive Officer, the Chief Operating Officer, the President and the Chief Financial Officer. Section 1.2 SECTION 8.2. The Executive Officers are entitled to direct the Manager to remove and replace any individual made available to any member of the Group by the Manager serving as an officer or any senior manager serving as head of a business unit, in either case, of that member of the Group other than any Executive Officer, from such position. The Board of Directors, in its sole discretion, shall be entitled to direct the Manager to remove any individual made available to the Parent by the Manager serving as an Executive Officer from such position and to appoint such other individual to serve as successor as the Board of Directors shall approve. Furthermore, the Manager agrees that it will not remove any individual made available to any member of the Group by the Manager serving as an officer or senior manager of that member of the Group from his or her position without the consent of the Executive Officers and, in the case of any Executive Officer, the Board of Directors. If any officer or senior manager who is made available to the Parent by the Manager resigns, is terminated or otherwise vacates his or her office, the Manager shall, as soon as practicable after acceptance of any resignation or after termination, use reasonable best efforts to identify suitable candidates for replacement of such officer. Section 1.3 SECTION 8.3. The Parent may employ directly, at its sole cost, any other officers, senior managers or employees as it may deem necessary, and such individuals will not be subject to this Agreement. Section 1.4 SECTION 8.4. The Manager will report to the Parent and the Board of Directors through any one of or more of the Executive Officers who are made available to the Parent by the Manager or by the Chief Executive Officer of the ManagerOfficers.

Appears in 1 contract

Samples: Management Agreement (Safe Bulkers, Inc.)

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