Ship Manager definition
Examples of Ship Manager in a sentence
The Manager hereby directs that the Technical Services Fee be paid by the Company directly to the Ship Manager.
The Ship Manager, Advisor and Crew Manager may subcontract any of their obligations under any subcontract of the Management Agreement to any Affiliate of the Manager without the consent of the Company.
However, the Manager shall remain directly responsible and liable to the Company to carry out all of its obligations under this Agreement, whether performed directly or subcontracted to the Ship Manager, Crew Manager, Advisor or any other Person, and the Manager (and not the Company) shall be responsible for the compensation and reimbursement of all such entities at its own cost to the extent such services are encompassed in the Technical Services.
In the event of any subcontract by the Ship Manager, Advisor or Crew Manager, the Ship Manager, Advisor or Crew Manager, as the case may be, shall promptly notify the Company thereof and the Manager shall remain fully liable for the due performance of its obligations under this Agreement.
Unless otherwise instructed by the Company, the Manager shall instruct the financial institutions at which the account or accounts have been established to pay from the relevant operating account: (1) on the first Business Day of each month to the bank account of the Ship Manager that the Ship Manager designates the amount of the Technical Services Fee; and (2) amounts outstanding under the Credit Facilities as and when required under the Credit Facilities.
The completed form shall be incorporated in the Personal Injury Report Package and the Package, with all other forms, completed as applicable, shall be included in an envelope to be forwarded to the home office of the Ship Manager as soon as practicable after the occurrence of the illness/injury.
Company shall procure that whichever of the Ship Manager and the Corporate Services Provider which is then responsible for such task prepares a draft budget, which shall be ready not later than 1 November in the year preceding that to which it relates.
The fee for ship management services payable to the Ship Manager shall be US$500,000 per annum per Vessel cumulatively increased on an annual basis on 1st January in each year by 3% payable six months prior to the delivery date of the relevant Vessel ((the 1st such increase occurring on 1st January 2015 regardless of date of delivery of the Vessel).
Passenger consents to treatment by medical professionals designated by Company, if Passenger is unable to request or authorize medical treatment and, in the opinion of the Ship Manager, medical attention is necessary, solely at the expense of Passenger and without liability to Company.
As of the date hereof, the Company and Executive have entered into three separate option agreements which in the aggregate grant the right to Executive to acquire up to 180,000 shares of the Company's common stock on the terms and conditions set forth therein.