Approved Managers definition

Approved Managers means, Roymar Ship Management Inc., a company incorporated under the laws of New York and having a place of business at ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇ or such other company as the Issuer may from time to time approve as manager of the Ships;

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Approved Managers means (i) the Commercial Manager and (ii) the Technical Manager.

Approved Managers means the Approved Commercial Managers, the Approved Crew Managers and the Approved Technical Managers.

Examples of Approved Managers in a sentence

• All requirements of the ISM Code and the ISPS Code as they relate to the Borrowers, the Approved Managers and the Ships have been complied with.

• Each Obligor's (other than the Approved Manager's) payment obligations under the Transaction Documents rank at least pari passu with the claims of all of its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.

• Each Borrower shall punctually (or shall procure that the Approved Managers of its Ship) pay all premiums or other sums payable in respect of the obligatory insurances effected by it and produce all relevant receipts when so required by the Security Trustee.

• Such Management Agreements and Material Contracts are in full force and effect and no default by any of the Loan Parties or Approved Managers exists thereunder.

• Under the law of each Obligor's (other than the Approved Manager's) Relevant Jurisdiction, it is not necessary that the Transaction Documents be filed, recorded or enrolled with any court or other authority in that jurisdiction or that any stamp, registration or similar Taxes be paid on or in relation to the Transaction Documents or the transactions contemplated by the Transaction Documents.

More Definitions of Approved Managers

Approved Managers means (a) any of the property managers proposed by the Borrower that are preapproved by the Administrative Agent and the Lenders as of the Closing Date or (b) any other property manager reasonably acceptable to the Administrative Agent with experience managing properties which are substantially similar to the applicable Borrowing Base Asset, and which is engaged to manage one or more Real Property Assets constituting Borrowing Base Assets pursuant to a management agreement between such Person or property manager and the applicable Loan Party that owns (or ground leases) such Borrowing Base Asset.

Approved Managers means together the Approved Commercial Manager and the Approved Technical Manager, and “Approved Manager” means either of them as the context requires;

Approved Managers means Roymar Ship Management, Inc., as technical manager, and TBS Shipping Services, Inc., as commercial manager, or such other manager(s) as may be approved from time to time in writing by the Facility Agent, such approval not to be unreasonably withheld, and in the singular means either of them;

Approved Managers means any member of the Group or the Teekay Group, or such other commercial and/or technical managers of the Collateral Vessels nominated by the Borrower as the Agent may approve (acting on the instructions of the Majority Lenders).

Approved Managers means, in relation to each Ship, the commercial and technical managers, respectively, specified below the name of such Ship in Schedule 3 or any other company or companies which the Lender may, in its sole and absolute discretion, approve from time to time as the commercial and/or technical managers of any Ship (and such approval may be subject to the condition that any technical or commercial managers will execute a manager’s undertaking on terms and conditions acceptable to the Lender);

Approved Managers means, in relation to each Ship in respect of its commercial and technical management, Ravenscroft Ship Management Inc., Ravenscroft Ship Management Ltd. (Bahamas), Ravenscroft Ship Management Ltd. (UK) or such other manager which the Facility Agent may, with the consent of the Majority Lenders, approve from time to time in writing as the technical or commercial manager of a Ship, such approval not to be unreasonably withheld;

Approved Managers means, for each Ship: