Common use of Changes to Vessels subject to this Agreement Clause in Contracts

Changes to Vessels subject to this Agreement. With the prior approval of the Manager and subject to Section 5.3, the Company may engage the Manager to provide the services contemplated by this Agreement for other Containerships that are to be financed under the Credit Facilities. The Company, with reasonable notice to the Manager, may remove a Vessel from the engagement under this Agreement, provided that the Manager is being engaged to manage such Vessel under a separate agreement with the Company. Unless the parties otherwise agree, a Vessel shall automatically be removed from engagement under this Agreement upon a sale or total loss of such Vessel. Upon any addition of a Containership to this engagement or any removal of a Vessel from this engagement, the parties shall amend Schedule A as required.

Changes to Vessels subject to this Agreement. With the prior approval of the Manager and subject to Section 5.38.3, the Company may engage the Manager to provide the services contemplated by this Agreement for other Containerships that are to be financed under the Credit FacilitiesFacility. The Company, with reasonable notice to the Manager, may remove a Vessel from the engagement under this Agreement, provided that the Manager is being engaged to manage such Vessel under a separate agreement with the Company. Unless the parties otherwise agree, a Vessel shall will automatically be removed from engagement under this Agreement upon a sale or total loss of such Vessel. Upon any addition of a Containership to this engagement or any removal of a Vessel from this engagement, the parties shall will amend Schedules A or B, as required, provided that if an IPO Vessel is removed from this engagement and then subsequently returned to this engagement, it will be reflected on Schedule A as requiredonly.