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 an Approved Manager to be the manager of, including providing crewing services to, the Ship, at all times acting upon terms approved in writing by the Agent and having entered into (in the case of the Approved Manager) an Approved Manager's Undertaking; (b) permit any amendment to be made to the terms of any 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 or Group operations 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 Transaction Obligor to perform its obligations under the Transaction Documents; or (c) permit the Ship to be employed other than within the Seven Seas Cruises brand unless the Borrower notifies the Facility Agent that it intends to employ the Ship within another brand of the Group and the ship remains employed within the Group.

Management and employment. The Borrower will not as from the Delivery Date: (a) permit any person other than an Approved Manager to be the manager of, including providing crewing services to, the Ship, at all times acting upon terms approved in writing by the Agent and having entered into (in the case of the Approved Manager) an Approved Manager's ’s Undertaking;; and (b) permit any amendment to be made to the terms of any External Management Agreement unless the amendment is advised by the Borrower's ’s tax counsel or is deemed necessary by the parties thereto to reflect the prevailing circumstances or Group operations 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 Transaction Obligor to perform its obligations under the Transaction Documents; or (c) permit the Ship to be employed other than within the Seven Seas Cruises brand unless the Borrower notifies the Facility Agent Lenders that it intends they intend to employ the Ship within another brand of the Group and the ship remains employed within the Group.

Management and employment. The Borrower will not as from the Delivery Date: (a) permit any person other than an Approved Manager to be the manager of, including providing crewing services to, the Ship, at all times acting upon terms approved in writing by the Agent and having entered into (in the case of the Approved Manager) an Approved Manager's Undertaking;; and (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 or Group operations 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 Transaction Obligor to perform its obligations under the Transaction Documents; or (c) permit the Ship to be employed other than within the Seven Seas Cruises brand unless the Borrower notifies the Facility Agent Lenders that it intends they intend to employ the Ship within another brand of the Group and the ship remains employed within the Group.