Common use of Pre-delivery Purchases and Expenses Clause in Contracts

Pre-delivery Purchases and Expenses. Prior to the delivery to the relevant Company Group Member of any Vessel, the Manager shall arrange for provision of the necessary stores, spares, lubricating oil, supplies, equipment and services related to the delivery of the Vessel (all of which will be set out by the Manager in a pre-delivery budget for each Vessel, which shall be subject to the acknowledgment and consent of the Company) to ensure the seaworthiness and readiness for service of each such Vessel, and the Company shall pay for the fees associated with the relevant classification society or the registration of the Vessel in the name of the relevant Company Group Member under the relevant flag, whether a newbuilding or an existing Vessel