Common use of Commercial Management Agreement Clause in Contracts

Commercial Management Agreement. It is expressly understood and agreed that all the Business and Activity of the Manager (including, without limitation, the business, activities and functions described in clause 2.2) shall be conducted by the Manager pursuant to the terms of this Agreement and the terms of the Commercial Management Agreement. Except to the extent that such liabilities are covered by the Ship Managers' Legal Liability Insurance to be taken out by the Manager pursuant to clause 4.2 (i), the Members hereby unconditionally agree, severally (and proportionally with their participation percentage as per the Revenue Sharing Key), to defend, indemnify and hold harmless the Manager in respect of all liabilities howsoever incurred in connection with n the performance of its obligations hereunder or otherwise arising in connection with this Agreement. Such indemnity shall not in any event extend to any liabilities incurred by reason of any gross negligence or willful misconduct on the part the Manager and/or its servants or agents.

Commercial Management Agreement. It is expressly understood and agreed that all the Business and Activity of the Manager (including, without limitation, the business, activities and functions described in clause 2.2) shall be conducted by the Manager pursuant to the terms of this Agreement and the terms of the Commercial Management Agreement. Except to the extent that such liabilities are covered by the Ship Managers' ’ Legal Liability Insurance to be taken out by the Manager pursuant to clause 4.2 (i), the Members hereby unconditionally agree, severally (and proportionally with their participation percentage as per the Revenue Sharing Key), to defend, indemnify and hold harmless the Manager in respect of all liabilities howsoever incurred in connection with n the performance of its obligations hereunder or otherwise arising in connection with this Agreement. Such indemnity shall not in any event extend to any liabilities incurred by reason of any gross negligence or willful misconduct on the part the Manager and/or its servants or agents.

Commercial Management Agreement. It is expressly understood and agreed that all the Business and Activity of the Manager (including, without limitation, the business, activities and functions described in clause 2.2) shall be conducted by the Manager pursuant to the terms of this Agreement and the terms of the Commercial Management Agreement. , Except to the extent that such liabilities are covered by the Ship Managers' ’ Legal Liability Insurance to be taken out by the Manager pursuant to clause 4.2 (i4.2(i), the Members hereby unconditionally agree, severally (and proportionally with their participation percentage as per the Revenue Sharing KeyKxx), to defend, indemnify and hold harmless the Manager in respect of all liabilities howsoever incurred in connection with n the performance of its obligations hereunder or otherwise arising in connection with this Agreement. , Such indemnity shall not in any event extend to any liabilities incurred by reason of any gross negligence or willful misconduct on the part the Manager and/or its servants or agents.