Definition of Technical Management Agreements


Technical Management Agreements means the agreements for the technical management of the Vessels made or to be made between each Collateral Owner respectively and the Technical Manager and "Technical Management Agreement" means any one of them.

Examples of Technical Management Agreements in a sentence

Technical Management Agreements Assetplus, through its wholly-owned Vessel Owning Subsidiaries, entered into technical management contracts under the standard BIMCO 'SHIPMAN 2009' format with Thome Offshore Management PTE Ltd of Singapore, an unaffiliated third-party, to provide technical management services for a minimum of one (1) year for an annual fee of $130,000 per vessel.
The copies of the Technical Management Agreements delivered to the Administrative Agent are true and complete copies of each such document constituting valid and binding obligations of the parties thereto enforceable in accordance with their respective terms and no action has been taken, to the best knowledge of the Borrower, by the parties thereto which would in any way render such document inoperative or unenforceable.
Pursuant to the Technical Management Agreements, each Subsidiary bears the entire cost of the crew and the operations of the Vessels through its reimbursement payments to VS.