Definition of Terance Management Agreement

  1. Terance Management Agreement means each agreement made or (as the context may require) to be made between the Terance Borrower and any Manager in the Standard Form or, if in any other form, in a form acceptable to the Agent (acting on the instructions of the Majority Banks), providing (inter alia) for that Manager to carry out the commercial and/or the technical management of the Terance Ship;

Definition of Terance Management Agreement in Facility Agreement

Terance Management Agreement means each agreement made or (as the context may require) to be made between the Terance Borrower and any Manager in the Standard Form or, if in any other form, in a form acceptable to the Agent (acting on the instructions of the Majority Banks), providing (inter alia) for that Manager to carry out the commercial and/or the technical management of the Terance Ship;