Common use of Pooling Agreements Clause in Contracts

Pooling Agreements. Each Assignor hereby covenants and agrees to procure that notice of this Assignment shall be duly given to all Acceptable Pool Managers, substantially in the form hereto attached as Exhibit D, and deliver a duplicate copy of such notice to the Assignee, informing each such Acceptable Pool Manager of this Assignment and instructing such addressee to remit promptly to such Concentration Accounts all earnings and moneys hereby assigned which may come into such Acceptable Pool Manager’s hands or control and to continue to make such remittances until such time as such Acceptable Pool Manager may receive written notice or instructions to the contrary directly from the Assignee. The Assignors covenant to use commercially reasonable efforts to obtain the consent of the Acceptable Pool Manager under said Pledged Pooling Agreement to this Assignment in the form attached to Exhibit D or otherwise in form and substance reasonably satisfactory to the Assignee.

Appears in 2 contracts

Sources: Credit Agreement (Gener8 Maritime, Inc.), Credit Agreement (Gener8 Maritime, Inc.)