ShipCos means Gxxxx Xxxx M2021 Corp., Gxxxx Xxxx M2022 Corp., Gxxxx Xxxx M2027 Corp., Gxxxx Xxxx M2047 Corp., Gxxxx Xxxx M2048 Corp., Golar LNG NB10 Corporation, Golar LNG NB11 Corporation and Golar LNG NB12 Corporation. ShipCo SPA has the meaning given to the term in Recital (B).
ShipCos means vessel owning corporations, each such corporation being the owner or charterer of one vessel; and "Vessels" means vessels which are primarily either liquefied natural gas tankers or crude oil tankers owned or chartered by Shipcos. TK Bahamas shall provide quarterly reports to Operating Sub outlining the nature and details of the foregoing services that have been provided. SCHEDULE B FEES In consideration for the provision of services by TK Bahamas to OPERATING SUB, OPERATING SUB shall pay TK Bahamas an annual Fee for each calendar year during the term of this Agreement divided into twelve (12) equal monthly installments payable in advance and which is equal to the annual aggregate amount of such costs and expenses (the "Costs and Expenses") as TK Bahamas may reasonably incur in connection with the provision of the Services plus a reasonable profit xxxx-up to be agreed upon and reviewed annually by the parties and which shall be consistent with the Organization for Economic Development's guidelines for transfer pricing levels as well as local rules and regulations. In respect of each calendar year during the term of this Agreement, TK Bahamas shall prepare an estimate of the Costs and Expenses it reasonably expects to incur during such year and shall submit such estimate to OPERATING SUB within ten (10) Bahamian banking days of the last day of the immediately preceding year. The calculation of TK Bahamas' aforesaid estimated Costs and Expenses may be adjusted from time to time by agreement between the parties, and the Fee payable by OPERATING SUB shall be re-calculated accordingly. Within sixty (60) Bahamian banking days (or such longer period as the parties shall agree) after the end of each year, TK Bahamas shall submit to OPERATING SUB an accounting of the Costs and Expenses it has incurred in that year (the "actual Costs and Expenses"). Ten (10) Bahamian banking days (or such longer period as the parties shall agree) after the date on which TK Bahamas delivers such accounting of its actual Costs and Expenses:
ShipCos means, individually or collectively, as the context may require, Bossa Nova Spirit and Sertanejo Spirit.
More Definitions of ShipCos
ShipCos means vessel owning corporations, each such corporation being the owner or charterer of one vessel; and "Vessels" means vessels which are primarily either liquefied natural gas tankers or crude oil tankers owned or chartered by Shipcos. For greater certainty and in furtherance of the foregoing, TK Bahamas recognizes and agrees that it is not authorized by this Agreement or otherwise, and shall not, act on behalf of TK Spain to execute on behalf of TK Spain (or any entity for which TK Spain manages Vessels) any contract of employment with any Vessel crewmember, except where the form and execution of such contract is at the request of TK Spain and when occurring is expressly stated as being by TK Bahamas in its capacity as 'agent only', TK Bahamas being hereby appointed as agent of TK Spain only for the specific and limited purpose thereof. TK Spain reserves the right to engage, suspend, remove or otherwise deal with Vessel crewmembers sourced by TK Bahamas as if TK Spain (and not the member of the TK Group to whose Vessel such crewmembers have been assigned) was their employer. TK Bahamas shall provide quarterly reports to TK Spain outlining the nature and details of the foregoing services that have been provided. SCHEDULE B FEES In consideration for the provision of services by TK Bahamas to TK SPAIN, TK SPAIN shall pay TK Bahamas an annual Fee for each calendar year during the term of this Agreement divided into twelve (12) equal monthly installments payable in advance and which is equal to the annual aggregate amount of such costs and expenses (the "Costs and Expenses") as TK Bahamas may reasonably incur in connection with the provision of the Services plus a reasonable profit mark-up to be agreed upon and reviewed annually by the parties and whxxx shall be consistent with the Organization for Economic Development's guidelines for transfer pricing levels as well as local rules and regulations. In respect of each calendar year during the term of this Agreement, TK Bahamas shall prepare an estimate of the Costs and Expenses it reasonably expects to incur during such year and shall submit such estimate to TK SPAIN within ten (10) Bahamian banking days of the last day of the immediately preceding year. The calculation of TK Bahamas' aforesaid estimated Costs and Expenses may be adjusted from time to time by agreement between the parties, and the Fee payable by TK SPAIN shall be re-calculated accordingly. Within sixty (60) Bahamian banking days (or such longe...