Estimates and Consultation. The Manager shall consult with and obtain the approval of the Company with respect to all material decisions to be made regarding the New Build. The Manager shall also consult with the Company regarding, and provide to the Company an estimate of the cost of, the Pre-delivery Services and the various Pre-delivery Purchases and Expenses for any Vessel for approval by the Company reasonably in advance of such services being provided or such items being purchased. If the actual cost of the Pre-delivery Services or any of the Pre-delivery Purchases and Expenses exceeds the previous estimate provided by the Manager by $50,000 or less, the Manager shall so advise the Company prior to settling payment of the relevant invoice. If the actual cost of the Pre-delivery Services or any of the Pre-delivery Purchases and Expenses exceeds the previous estimate provided by the Manager by more than $50,000, the Manager shall consult with and obtain the prior approval of the Company prior to incurring such costs.
Appears in 9 contracts
Samples: Management Agreement, Management Agreement (Seaspan CORP), Vessel Management Agreement (Seaspan CORP)
