Manager’s Undertaking definition

Manager’s Undertaking means, in relation to a Ship, the letter of undertaking from its Approved Technical Manager and the letter of undertaking from its Approved Commercial Manager subordinating the rights of such Approved Technical Manager and such Approved Commercial Manager respectively against that Ship and the relevant Borrower to the rights of the Finance Parties in agreed form.

Manager’s Undertaking means an undertaking referred to in clause 8.1.8 executed or (as the context may require) to be executed by the Manager in favour of the Security Trustee as a condition precedent to the approval of the Management Agreement, such undertakings to be in a form and substance satisfactory to the Lenders in all respects.

Manager’s Undertaking means the manager’s undertaking required to be executed hereunder by the Manager in favour of the Security Trustee in respect of the Ship in agreed form;

Examples of Manager’s Undertaking in a sentence

• A manager of the Ship shall not be appointed unless that manager and the terms of its appointment are approved (such approval not to be unreasonably withheld) and it has delivered a duly executed Manager’s Undertaking to the Security Agent.

• F Manager’s Undertaking – Phoenix G Funds Deposit Agreement H Shares Charge I Charge Over Cash Deposit J Compliance Certificate K Notice of Assignment L Insurance Endorsements M Broker’s Opinion Letter Fearnleys AS H.

• A manager of a Ship shall not be appointed unless that manager and the terms of its appointment are approved (such approval not to be unreasonably withheld or delayed) by the Majority Lenders in writing and it has delivered a duly executed Manager’s Undertaking.

• F Manager’s Undertaking – Phoenix G Funds Deposit Agreement H Shares Charge I Charge Over Cash Deposit – Borrower J Charge Over Cash Deposit – Allseas K Compliance Certificate L Notice of Assignment M Insurance Endorsements N Broker’s Opinion Letter Fearnleys AS H.

• The Borrower shall further procure that any Approved Technical Manager shall enter into a Manager’s Undertaking if requested to do so.

More Definitions of Manager’s Undertaking

Manager’s Undertaking means, in relation to a Ship, the letter executed and delivered by an Approved Manager, in Agreed Form;

Manager’s Undertaking means an undertaking in respect of the Ship executed or (as the context may require) to be executed by the Manager in favour of the Lessor Agent in respect of the Ship in the agreed form;

Manager’s Undertaking means a letter of undertaking and subordination to be executed by the Manager, as manager of the Vessel, in favour of the Lender, such Manager's Undertaking to be and in form and substance satisfactory to the Lender as the same may from time to time be amended and/or supplemented (together, the "Manager's Undertakings");

Manager’s Undertaking means an undertaking to be issued by the Approved Manager agreeing certain matters in relation to the management of the Ship to be such form as the Lender may approve or require;

Manager’s Undertaking means a letter of undertaking executed or to be executed by the Approved Manager in favour of the Lender in the Agreed Form agreeing certain matters in relation to the management of the Ship and subordinating the rights of the Approved Manager against the Ship and the Borrower to the rights of the Lender under the Finance Documents;

Manager’s Undertaking means, in relation to a Ship, an undertaking by any manager of the Ship to the Security Agent in the agreed form pursuant to clause 20.3 (Manager).

Manager’s Undertaking means, in respect of each Mortgaged Vessel, the undertaking and assignment of insurances required to be executed hereunder by the Manager in favour of the Lender in such form as the Lender may require and in the plural means all of them;