Common use of AGREEMENT AUTHORITY Clause in Contracts

AGREEMENT AUTHORITY. 5.1 The Parties are authorized to meet together, discuss, reach agreement and take actions necessary to implement or effectuate agreements regarding sharing of vessels, chartering or exchange of space, rationalization and related coordination and cooperative activities pertaining to their operations and services, and related equipment, vessels and facilities in the Trade. It is initially contemplated that the Parties will jointly coordinate the operation and sharing of space on 151 container vessels in the Trade with nominal capacities ranging from 3,000-14,500 TEUs.

AGREEMENT AUTHORITY. 5.1 The Parties are authorized to meet together, discuss, reach agreement and take actions necessary to implement or effectuate agreements regarding sharing of vessels, chartering or exchange of space, rationalization and related coordination and cooperative activities pertaining to their operations and services, and related equipment, vessels and facilities in the Trade. It is initially currently contemplated that the Parties will jointly coordinate the operation and sharing of space on 151 approximately 168 container vessels in the Trade with nominal capacities ranging from 3,000-14,500 15,000 TEUs.. FMC Agreement No. 012439-004 First Revised Page No. 3