Common use of Estimates and Consultation Clause in Contracts

Estimates and Consultation. For each newbuilding Drybulk Carrier, if any, the Manager shall consult with and obtain the approval of the Company with respect to all material decisions to be made regarding the newbuilding. 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 provided other than by the Manager, for approval by the Company reasonably in advance of such services being provided or such items being purchased.