Sharing of Earnings. The Borrower shall procure that no Owner shall enter into any agreement or arrangement for the sharing of any Earnings (other than (i) any profit sharing agreement with a charterer which takes effect above an agreed minimum charter hire rate payable to the relevant Owner under a charter to which that Owner is a party and (ii) any pool agreement, in either case, on bona fide arm’s length terms).
Appears in 5 contracts
Samples: Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Acquisition Corp), Loan Agreement (Capital Product Partners L.P.)
Sharing of Earnings. The No Borrower shall procure that no Owner shall enter into any agreement or arrangement for the sharing of any Earnings (other than (i) any profit sharing agreement with a charterer which takes effect above an agreed minimum charter hire rate payable to the relevant Owner Borrower under a charter to which that Owner Borrower is a party and (ii) any pool agreement, in either case, on bona fide arm’s length terms).
Appears in 5 contracts
Samples: Loan Agreement (Global Ship Lease, Inc.), Loan Agreement (Navios Maritime Partners L.P.), Loan Agreement (Navios Maritime Acquisition CORP)
Sharing of Earnings. The Neither Borrower shall procure that no Owner shall enter into any agreement or arrangement for the sharing of any Earnings (other than (i) any profit sharing agreement with a charterer which takes effect above an agreed minimum charter hire rate payable to the relevant Owner Borrower under a charter to which that Owner Borrower is a party and (ii) any pool agreement, in either case, on bona fide arm’s length terms).
Appears in 3 contracts
Samples: Loan Agreement (Castor Maritime Inc.), Loan Agreement (Navios Maritime Containers Inc.), Loan Agreement (Navios Maritime Acquisition CORP)
Sharing of Earnings. The Borrower shall procure that no Owner shall not enter into any agreement or arrangement for the sharing of any Earnings (other than (i) any profit sharing agreement with a charterer which takes effect above an agreed minimum charter hire rate payable to the relevant Owner Borrower under a charter to which that Owner the Borrower is a party and (ii) any pool agreement, in either case, on bona fide arm’s length terms).
Appears in 3 contracts
Samples: Amending and Restating Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Acquisition CORP), Loan Agreement (Navios Maritime Holdings Inc.)
Sharing of Earnings. The No Borrower shall procure that no Owner shall enter into any agreement or arrangement for the sharing of any Earnings Earnings, except for a Pool Agreement (other than if any), (ifor the avoidance of doubt) any or pursuant to a time charter entered into by a Borrower with a third party which includes profit sharing agreement with agreements which (except in the case of a charterer which takes effect above an agreed minimum charter hire rate payable to Permitted Charter where no further approval is required) are on terms approved by the relevant Owner under a charter to which that Owner is a party and (ii) any pool agreement, in either case, on bona fide arm’s length terms)Lenders.
Appears in 2 contracts
Samples: Term and Accordion Facilities Agreement (Ardmore Shipping Corp), Term, Revolving and Accordion Facilities Agreement (Ardmore Shipping Corp)
Sharing of Earnings. The Borrower shall procure that no Owner shall enter into any agreement or arrangement for the sharing of any Earnings (other than (i) any profit sharing agreement with a charterer which takes effect above an agreed minimum charter hire rate payable to the relevant Owner under a charter to which that Owner is a party and (ii) any pool agreement, in either case, on bona fide arm’s 's length terms).
Appears in 1 contract
Sharing of Earnings. The Borrower shall procure that no Owner shall enter into any agreement or arrangement for the sharing of any Earnings (other than (i) any profit sharing agreement with a charterer which takes effect above an agreed minimum charter hire rate payable to the relevant Owner under a charter to which that Owner is a party and (ii) any pool agreement, in either case, on bona fide arm’s length terms).
Appears in 1 contract