Common use of Management and employment Clause in Contracts

Management and employment. The Borrower will not as from the Delivery Date: (a) permit any person other than the Approved Manager to be the manager of, including providing crewing services to, the Ship, acting upon terms approved in writing by the Agent and having entered into:- (i) (in the case of the Approved Manager) an Approved Manager’s Undertaking; and (ii) (in the case of the Borrower if the Approved Manager is not a member of the Group) an External Management Agreement Assignment; (b) permit any amendment to be made to the terms of any External Management Agreement unless the amendment is advised by the Borrower’s tax counsel or is deemed necessary by the parties thereto to reflect the prevailing circumstances but provided that the amendment does not imperil the security to be provided pursuant to the Finance Documents or adversely affect the ability of any Obligor to perform its obligations under the Transaction Documents; or (c) permit the Ship to be employed other than within the Oceania brand.

Management and employment. The Borrower will not as from the Delivery Date: (a) permit any person other than the Approved Manager to be the manager of, including providing crewing services to, the Ship, acting upon terms approved in writing by the Agent and having entered into:-into: (i) (in the case of the Approved Manager) an Approved Manager’s Undertaking; and (ii) (in the case of the Borrower if the Approved Manager is not a member of the Group) an External Management Agreement Assignment; (b) permit any amendment to be made to the terms of any External Management Agreement unless the amendment is advised by the Borrower’s tax counsel or is deemed necessary by the parties thereto to reflect the prevailing circumstances but provided that the amendment does not imperil the security to be provided pursuant to the Finance Documents or adversely affect the ability of any Obligor to perform its obligations under the Transaction Documents; or (c) permit the Ship to be employed other than within the Oceania brand.