Examples of Ship Management Agreement in a sentence
Owners and Managers entered into that certain Ship Management Agreement of even date herewith (the “Management Agreement”).
Subject to the foregoing, the terms and conditions of the Ship Management Agreement shall remain unaltered and in full force and effect.
Stena, as primary obligor and not merely as surety, hereby irrevocably, unconditionally and absolutely hereby guarantees to the Owner the due and punctual payment of all amounts due to the Owner from the Manager in respect of the Manager's indemnification of the Owner for days of off-hire or reduced-hire pursuant to Clause 24 of the Ship Management Agreement (the "Guaranteed Obligations").
The Guarantor, as primary obligor and not merely as surety, hereby irrevocably, unconditionally and absolutely hereby guarantees to the Manager the due and punctual payment of all obligations and liabilities owing by the Owner under the Ship Management Agreement and the due performance and compliance by the Owner with all terms, conditions and agreements contained therein (all such obligations and liabilities being herein collectively called the "Guaranteed Obligations").
This is a standard BIMCO wording taken from the SHIPMAN Standard Ship Management Agreement.