Commercial Management. (only applicable if agreed according to Box 7) The Managers shall provide the commercial operation of the Vessel, as required by the Owners, which includes, but is not limited to, the following functions:
Commercial Management. 4.1 In consideration of the Management Services Commission payable by the Company to the Manager pursuant to Clause 5 below, the Manager shall provide the commercial operation of the Vessels, as required by the Company, which includes, but is not limited to, the following functions:
Commercial Management. The Borrower shall procure that the Commercial Manager shall continue to be commercial manager of the Borrower, the Owning Companies and the Vessels and there shall be no change to such commercial management without the prior written consent of the Agent.
Commercial Management. 6.1 The Sellers or their relevant affiliate shall have the option (exercisable at any time during the Sellers controlling the below-mentioned VLCC vessels) of placing some or all of their remaining VLCC controlled vessels (currently named “Maersk Hakone”, “
Commercial Management. (only applicable if agreed according to Box 8). – N/A
Commercial Management. The Borrower shall cause the Commercial Managers to remain the commercial manager of the Vessels and to continue to be the commercial manager of the Vessels and there shall be no change to such commercial management without the prior written consent of the Agent, except to the extent compliance with local law applicable to the waters where a Vessel is employed may otherwise require.
Commercial Management. Each Obligor shall procure that the Commercial Manager shall continue to be commercial manager of that Obligor and there shall be no material change to such commercial management and/or the Commercial Management Agreement (if applicable) without the prior written consent of the Agent.
Commercial Management. Eurobulk shall provide, and the Manager shall cause to be provided by Eurobulk or, in the event of the failure of Eurobulk to provide, shall itself provide (or, subject to Clause 10, cause to be provided by a sub-contractor), the usual and customary commercial management services with respect to each Vessel, as required by Euromar, including, but, not limited to, the following functions:
Commercial Management. The Manager shall, unless a specific agreement is made between a Subsidiary and another service provider for this purpose, be responsible for the commercial management of the rigs or other assets of each Subsidiary. This shall include the negotiating of any and all charter or employment arrangements for such Subsidiary’s rig, the following up of such charter or employment during its term and the provision of general market information to such Subsidiary’s board of directors and the Board. While the Manager shall use its best efforts to seek employment for the Subsidiaries’ rigs as set forth in this Clause 5.1.14, the Company and the Subsidiaries acknowledge that such efforts may fail from time to time. It is understood and agreed that the Manager’s failure to obtain employment for the rigs shall not constitute a breach of the Manager’s obligations under this Agreement and that the Manager’s right to compensation under Clause 7 applies irrespective of such failure. Further, the Parties acknowledge that the board of directors of each Subsidiary owning an asset is responsible for approving any and all charter arrangements for its own rig.
Commercial Management. The commercial management agreement of the Vessels shall be with the Manager or such other manager as approved by the Administrative Agent on behalf of the Majority Lenders and no Owner shall (and the Borrower shall procure that no Owner will) make or agree to any material change thereto without the prior written consent of the Administrative Agent on behalf of the Majority Lenders which shall not be unreasonably withheld.
