Trivial activities definition
Examples of Trivial activities in a sentence
In this regard, it is understood and agreed by all Parties that ONE shall be responsible only for those obligations arising out of or in connection with voyage legs and/or cargo movements being performed by it, and shall not be responsible for voyage legs and/or cargo movements performed by NYK.
The obligations of NYK under this subparagraph (c) shall survive the termination of the membership of NYK in this Agreement.
ONE hereby accepts above effectuation the transfer and assignment of, and agrees to assume, all of the rights, obligations and liabilities of NYK under the Agreement effective as of the Transition Date.
This Agreement shall be known as the MOL/NMCC and NYK Space Charter Agreement (the “Agreement”).
NYK will be allotted two-thirds (2/3) of the vessel's capacity and HL allotted one-third (1/3) of the vessel's capacity.
Three of the vessels shall be contributed by NYK and HL shall provide one (1) vessel.
The Parties shall make such investment in HoldCo as they may agree and will each become a shareholder of HoldCo at the following levels: “K” Line 31% MOL 31% NYK 38% Initially, each Party shall be entitled to designate two (2) members of the HoldCo Board of Directors for a total of six (6) members.
The Parties shall make such investment in OpCo as they may agree and will each become a holder of preferred stock in OpCo at the following levels: “K” Line 31% MOL 31% NYK 38% Such preferred stock shall not carry any voting rights at OpCo shareholders meetings.
ONE hereby accepts the transfer and assignment of, and agrees to assume, all of the rights, obligations and liabilities of NYK under the Agreement effective as of the Transition Date.
The purpose of this Agreement is to authorize NYK to charter space to ELJSA and to authorize the Parties (as hereinafter defined) to enter into arrangements related to the chartering of such space.