Common use of Managers’ Obligations Clause in Contracts

Managers’ Obligations. 4.1 The Managers undertake to use best endeavors to provide the agreed Management Services as agents for and on behalf of the Owners in accordance with sound ship management practice and international standards, applicable statutory and regulatory requirements and policies to protect and promote the interests of the Owners in all matters relating to the provision of services hereunder. Provided, however, that the Managers in the performance of their management responsibilities under this Agreement shall be entitled to have regard to their overall responsibility in relation to all vessels as may from time to time be entrusted to their management and in particular, but without prejudice to the generality of the foregoing, the Managers shall be entitled to allocate available supplies, manpower and services in such manner as in the prevailing circumstances the Managers in their absolute discretion consider to be fair and reasonable. 4.2 Where the Managers are providing Technical Management in accordance with Clause 3.A.2 they shall procure that the requirements of the law of the flag of the Vessel are satisfied and they shall in particular be deemed to be the “Company” as defined by the ISM Code, assuming the responsibility for the operation of the Vessel taking over the duties and responsibilities imposed by the ISM and ISPS Code when applicable.

Managers’ Obligations. 4.1 The Managers undertake to use their best endeavors endeavours to provide the agreed Management Services as agents for and on behalf of the Owners in accordance with the terms of the Time Charter so long as it is in effect and sound ship management practice and international standards, applicable statutory and regulatory requirements and policies to protect and promote the interests of the Owners in all matters relating to the provision of services hereunder. Provided, however, that the Managers in the performance of their management responsibilities under this Agreement shall be entitled to have regard to their overall responsibility in relation to all vessels as may from time to time be entrusted to their management and in particular, but without prejudice to the generality of the foregoing, the Managers shall be entitled to allocate available supplies, manpower and services in such manner as in the prevailing circumstances the Managers in their absolute discretion consider to be fair and reasonable. 4.2 Where the Managers are providing Technical Management in accordance with Clause 3.A.2 sub-clause 3.2, they shall procure that the requirements of the law of the flag of the Vessel are satisfied and they shall in particular be deemed to be the “Company” as defined by the ISM Code, assuming the responsibility for the operation of the Vessel and taking over the duties and responsibilities imposed by the ISM and ISPS Code when applicable.