Financial Administration Services. Subject to the terms of any pooling arrangements, which may exist in relation to the Company and its assets: (a) The Manager shall be authorised to operate the Company's bank accounts in accordance with the principles approved by the Board from time to time. The Manager shall, when authorised to do so by the Board, enter into banking agreements including, but not limited to agreements relating to opening bank accounts in the Company's name and ongoing management of bank accounts. (b) The Manager shall be authorized to collect all amounts due from third parties to the Company on the Company’s behalf and shall be responsible for the establishment and follow-up of efficient procedures for the purpose of collecting any overdue amounts. (c) The Manager shall arrange for the Company to settle its debts and accounts payable to third parties as such fall due, while pursuing a satisfactory solution of any dispute in relation thereto on the Company’s behalf. (d) The Manager shall settle all inter‑company accounts between the Company and other companies in the Seadrill Group in accordance with such agreements and other documentation for payments as shall be in existence from time to time.
Appears in 18 contracts
Samples: Management and Administrative Services Agreement (Seadrill Partners LLC), Management and Administrative Services Agreement (Seadrill Partners LLC), Management and Administrative Services Agreement (Seadrill Partners LLC)
