Manager’s Undertakings definition

Manager’s Undertakings means the undertakings, provided by the Manager respecting the Vessel, including, inter alia, a statement satisfactory to the Facility Agent that any lien in favor of the Manager respecting the Vessel is subject and subordinate to the Vessel Mortgage in substantially the form attached to the Assignment of Management Agreements or otherwise reasonably satisfactory to the Facility Agent.

Manager’s Undertakings means, collectively, the undertakings and assignments required to be executed hereunder by the Manager in favour of the Security Trustee in respect of each of the Mortgaged Vessels each in such form as the Agent and the Majority Lenders may require in their sole discretion;

Manager’s Undertakings means any or all of them;

Examples of Manager’s Undertakings in a sentence

• A duly executed original of the Account Pledge, the Charterers’ Assignment and the Manager’s Undertakings, in each case together with all other documents required by any of them according to their terms (other than the letters of undertaking in respect of the Insurances and copies of the relevant policies or cover notes or entry certificates in respect of the Insurances duly endorsed with the interest of the Owners required under the Charterers’ Assignment).

• On or prior to the Initial Borrowing Date, each Credit Party which owns a Mortgaged Vessel on such date shall have duly authorized, executed and delivered an Assignment of Management Agreement for each Mortgaged Vessel in the form of Exhibit O or otherwise acceptable to the Administrative Agent (as modified, supplemented or amended from time to time, the “Assignment of Management Agreement”) and shall have obtained a Manager’s Undertakings for each Mortgaged Vessel.

• New General Assignment means the general assignment in relation to the New Ship executed by the New Borrower in favour of the Security Agent in the agreed form.New Manager’s Undertakings means undertakings in respect of the New Ship which are to be granted by each Approved Manager (as defined in the Facilities Agreement) of the New Ship in favour of the Security Agent in the agreed form.

More Definitions of Manager’s Undertakings

Manager’s Undertakings means, collectively, the undertakings and assignments required to be executed hereunder by the Manager in favour of the Bank in respect of each of the Vessels each in such form as the Bank may require in its sole discretion (and “Managers’ Undertakings” means all of them);

Manager’s Undertakings means the written undertakings of the Managers whereby, throughout the Facility Period unless otherwise agreed by the Agent:

Manager’s Undertakings means either or both of them;

Manager’s Undertakings means the letters of undertaking referred to in Clause 10.1.6 (Security Documents) and "Managers' Undertaking" means each one of them.

Manager’s Undertakings means, collectively, the undertakings and (in respect of the Technical Manager’s undertakings) assignments required to be executed respectively hereunder by the Technical Manager and the Commercial Manager in favour of the Security Trustee in respect of each of the Vessels each in such form as the Agent and the Majority Lenders may require in their sole discretion (and “Managers’ Undertakings” means all of them);

Manager’s Undertakings means the Mortgagee's Manager's Undertakings and the Owners' Manager's Undertakings;

Manager’s Undertakings means, in relation to a Ship, collectively, the manager’s undertakings and (where applicable) assignments executed or (as the context may require) to be executed by the Manager in favour of the Security Agent in respect of each of the Ships each in the form set out in Part A of schedule 12 (in the case of the Collateral Ships) or in Part B of schedule 12 (in the case of the Borrowers’ Ships) and, singly, each a “Manager’s Undertaking”;