Income Collected and Expenses Paid on Behalf of Owners. 7.1 All moneys collected by the Managers under the terms of this Agreement (other than moneys payable by the Owners to the Managers) and any interest thereon shall be held to the credit of the Owners in a separate bank account.
7.2 All expenses incurred by the Managers under the terms of this Agreement on behalf of the Owners (including expenses as provided in Clause 8) may be debited against the Owners in the account referred to under sub-clause 7.1 but shall in any event remain payable by the Owners to the Managers on demand.
Income Collected and Expenses Paid on Behalf of Owners. 7.1 All moneys collected by the Managers under the terms of this Agreement (other than moneys payable by the Owners to the Managers) and any interest thereon shall be held to the credit of the Owners in a separate bank account.
7.2 All expenses incurred by the Managers under the terms of this Agreement on behalf of the Owners (including expenses as provided in Clause 8) may be debited against the Owners in the account referred to under sub-clause 7.1 but shall in any event remain payable by the Owners to the Managers on demand. Furthermore and without prejudice to the generality of the provisions of this Clause 7, the Managers shall, subject to being placed in funds by the Owners, arrange for the payment of all ordinary charges incurred in connection with the Management Services, including, but not limited to, all canal tolls, port charges, amounts due to any governmental authority with respect to the Crew and all duties and taxes in respect of the Vessel, the cargo, hire or freight (whether levied against the Owners), insurance premiums, advances of balances of disbursements, invoices for bunkers, stores, spares, provisions, repairs and any other material and/or service in respect of the Vessel.
Income Collected and Expenses Paid on Behalf of Owners. (a) Except as provided in Sub-clause 11(c) all monies collected by the Managers under the terms of this Agreement (other than monies payable by the Owners to the Managers) and any interest thereon shall be held to the credit of the Owners in a separate bank account.
(b) All expenses incurred by the Managers under the terms of this Agreement on behaIf of the Owners (including expenses as provided in Clause 12(c)) may be debited against the Owners in the account referred to under Sub-clause 11(a) but shall in any event remain payable by the Owners to the Managers on demand.
Income Collected and Expenses Paid on Behalf of Owners. (a) Except as provided in Sub-clause 11(c) all monies collected by the Managers under the terms of this Agreement (other than monies payable by the Owners to the Managers) and any interest thereon shall be held to the credit of the Owners in a separate bank account.
(b) All expenses incurred by the Managers under the terms of this Agreement on behalf of the Owners (including expenses as provided in Clause 12(c)) may be debited against the Owners in the account referred to under Sub-clause 11(a) but shall in any event remain payable by the Owners to the Managers on demand.
(c) All monies collected by the Managers under Clause 6 (Commercial Management) shall be paid into a bank account in the name of the Owners or as may be otherwise advised by the Owners in writing.
Income Collected and Expenses Paid on Behalf of Owners. (a) All monies collected by the Managers under this Agreement (other than monies payable by the Owners to the Managers) and any interest thereon shall be held to the credit of the Owners in a separate bank account.
(b) All expenses incurred by the Managers under the terms of this Agreement on behalf of the Owners (including expenses as provided in Clause 12(c)) may be debited against the Owners in the account referred to under Sub-clause 11(a) but shall in any event remain payable by the Owners to the Managers on demand.
(c) The Managers shall provide the Owners with (i) monthly cash flow statements with respect to the Vessel and the Owners, and (ii) quarterly un-audited accounts and detailed analysis showing all movements and use of funds held in the separate bank account.
(d) The Managers shall pay, on behalf of the Owners and from the bank account referred to in Clause 11(a) above, all expenses of the Commercial Managers under the Commercial Management Agreement and all expenses of the Exclusive Broker under the Exclusive Brokerage Deed (as applicable).
Income Collected and Expenses Paid on Behalf of Owners. (a) Except as provided in Sub-clause 11(c) all monies collected by the Managers under the terms of this Agreement (other than monies payable by the Owners to the Managers) and any interest therein shall be held to the credit of the Owners in a separate bank account.
Income Collected and Expenses Paid on Behalf of Owners. 7.1 All moneys collected by the Managers under the terms of this Agreement (other than moneys payable by the Owners to the Managers) and any interest thereon shall be credited to such account of the Owners as the Owners shall from time to time notify to the Managers.
7.2 All expenses incurred by the Managers under the terms of this Agreement on behalf of the Owners (including expenses as provided in Clause 8) may be debited against any credit balance maintained by the Owners with the Managers as is reflected in the accounting records maintained by the Managers with respect to the Owners but shall in any event remain payable by the Owners to the Managers on demand.
Income Collected and Expenses Paid on Behalf of Owners. 7.1 Without prejudice to the provisions of Section 10.7 of the Group Management Agreement, Aall moneys collected by the Managers under the terms of this Agreement (other than moneys payable by the Owners to the Managers) and any interest thereon shall be held to the credit of the Owners in a separate bank account.
7.2 Without prejudice to the provisions of Section 9.6, Section 10.5 and Section 10.8 of the Group Management Agreement, Aall expenses incurred by the Managers under the terms of this Agreement on behalf of the Owners (including expenses as provided in Clause 8) may be debited against the Owners in the account referred to under sub-clause 7.1 but shall in any event remain payable by the Owners to the Managers on demand. For the avoidance of doubt, the Managers can make such demand on the Owners as well as on the Parent as provided in Section 10.5 of the Group Management Agreement. Furthermore and without prejudice to the generality of the provisions of this Clause 7, the Managers shall, subject to being placed in This document is a computer generated XXXXXXX 98 form printed by authority of BIMCO. Any insertion or deletion to the form must be dearly visible. In the event of any modification made to the pre-printed text of this document which is not clearly visible, the text of the onginal BIMCO approved document shall apply. BIMCO assumes no responsibility for any loss, damage or expense as a result of discrepancies between the original BIMCO approved document and this computer generated document. funds by the Owners or the Parent, arrange for the payment of all ordinary charges incurred in connection with the Management Services, including, but not limited to, all canal tolls, port charges, any amounts due to any governmental authority with respect to the Crew and all duties and taxes in respect of the Vessel, the cargo, hire or freight (whether levied against the Owners, the Parent or the Vessel), insurance premiums, advances of balances of disbursements, invoices for bunkers, stores, spares, provisions, repairs and any other material and/or service in respect of the Vessel.
Income Collected and Expenses Paid on Behalf of Owners. 7.1 All Vessel Revenue and other monies to be paid in relation to the Vessels, or otherwise in relation to Euromar and/or the Owners, shall be paid to various accounts ("Revenue Accounts") in the name of Euromar or the relevant Owner (at Euromar's sole discretion) with such bank as may be nominated by Euromar, such account to be established and operated in accordance with Section 9.6 of the Limited Liability Company Agreement.
7.2 All amounts required to be paid into a charged account with any financing bank as security for the financing of any Vessel or Vessels shall be transferred from the Revenue Account to such earnings or retention account in accordance with the terms of the loan documentation in relation to such financing.
7.3 Following the transfer to such earnings or retention accounts, if required by Euromar, the balance standing to the credit of each of the Revenue Accounts on the first (1st) Business Day of each Month, shall be remitted to an account ("Overhead Account") in the name of Euromar with such bank as may be nominated by Euromar, such account to be established and operated in accordance with Section 9.6 of the Limited Liability Company Agreement.
7.4 An amount equal to 110% of the aggregate of the Monthly Vessel Budget for each Vessel shall be remitted from the relevant Overhead Account on the first (1st) Business Day of each month to a separate account in the name of Eurobulk ("Management Account") with such bank as may be nominated by Eurobulk.
7.5 Each of the Manager, Eurobulk and Eurochart shall provide the respective Management Services in consideration of the payment of the Vessel Management Fee, the Fixed Daily Fee and other fees payable under Clause 8. All fees payable by Euromar to the Manager under Clause 8 (including the Vessel Management Fee and the Fixed Daily Fee) shall be paid by Euromar to the Manager from the Overhead Account. All costs and disbursements incurred by the Manager, Eurobulk and/or Eurochart under the terms of this Agreement on behalf of Euromar and/or the Owners in the performance of the respective Management Services may be debited by the Manager (on behalf of itself, Eurobulk and/or Eurochart, as the case may be) from the Management Account in accordance with Clause 9 but shall in any event remain payable by Euromar to the Manager, Eurobulk or Eurochart (as the case may be) on demand.
Income Collected and Expenses Paid on Behalf of Owners. 7.1 Without prejudice to the provisions of Section 10.7 of the Group Management Agreement, Aall moneys collected by the Managers under the terms of this Agreement (other than moneys payable by the Owners to the Managers) and any interest thereon shall be held to the credit of the Owners in a separate bank account.
7.2 Without prejudice to the provisions of Section 9.6, Section 10.5 and Section 10.8 of the Group Management Agreement, Aall expenses incurred by the Managers under the terms of this Agreement on behalf of the Owners (including expenses as provided in Clause 8) may be debited against the Owners in the account referred to under sub-clause 7.1 but shall in any event remain payable by the Owners to the Managers on demand. For the avoidance of doubt,
