Common use of Managers’ Right to Sub-Contract 318 Clause in Contracts

Managers’ Right to Sub-Contract 318. Except to a Related Manager or V.Ships Greece Ltd. (where the Manager may subcontract any of their obligations hereunder, without need of obtaining the Owners’ consent for doing so), or as provided in the Framework Agreement, Tthe Managers shall not have the right to sub-contract any of 319 their obligations hereunder, including those mentioned in sub- 320 clause 3.1, without the prior written consent of the Owners which 321 shall not be unreasonably withheld and which shall be promptly responded to. In the event of such a sub- 322 contract the Managers shall remain fully liable for the due 323 performance of their obligations under this Agreement. 324

Managers’ Right to Sub-Contract 318. Except to a Related Manager or V.Ships Greece Ltd. (where the Manager may subcontract any of their obligations hereunder, without need of obtaining the Owners’ consent for doing so), or as provided in the Framework Partnership Management Agreement, Tthe Managers shall not have the right to sub-contract any of 319 their obligations hereunder, including those mentioned in sub- 320 clause 3.1, without the prior written consent of the Owners which 321 shall not be unreasonably withheld and which shall be promptly responded to. In the event of such a sub- 322 contract the Managers shall remain fully liable for the due 323 performance of their obligations under this Agreement. Agreement 324

Managers’ Right to Sub-Contract 318. Except to a Related Manager or V.Ships Greece Ltd. (where the Manager may subcontract any of their obligations hereunder, without need of obtaining the Owners’ consent for doing so), or as provided in the Framework Agreement, Tthe Managers shall not have the right to sub-contract any of 319 their obligations hereunder, including those mentioned in sub- 320 clause 3.1, without the prior written consent of the Owners which 321 shall not be unreasonably withheld and which shall be promptly responded to. In the event of such a sub- 322 contract the Managers shall remain fully liable for the due 323 performance of their obligations under this Agreement. Agreement 324

Managers’ Right to Sub-Contract 318. Except to a Related Manager or V.Ships Greece Ltd. (where the 319 Manager may subcontract any of their obligations hereunder, without need of obtaining the Owners’ consent for doing so), or as provided in the Framework Agreement, Tthe Managers shall not have the right to sub-contract any of 319 their obligations hereunder, including those mentioned in sub- 320 clause 3.1, without the prior written consent of the Owners which 321 shall not be unreasonably withheld and which shall be promptly 322 responded to. In the event of such a sub- 322 contract the Managers shall remain fully liable for the due 323 performance of their obligations under this Agreement. 324