Common use of Approved Appraisers Clause in Contracts

Approved Appraisers. Shareholders 4.8 Litigation 4.9 Permitted Encumbrances 4.11 Locations A Request for Advance B Mortgage C Borrower’s Earnings Assignment Agreement D Charterer’s Earnings Assignment Agreement E Manager’s Undertaking – Seamar Management S. A. F Manager’s Undertaking – Phoenix G Funds Deposit Agreement H Shares Charge I Charge Over Cash Deposit J Compliance Certificate K Notice of Assignment L Insurance Endorsements M Broker’s Opinion Letter Fearnleys AS H. ▇▇▇▇▇▇▇▇ & Co. Limited Platou Shipbrokers Shareholder Number of Shares Percentage Citizenship E▇ ▇▇▇▇ 38,643(Common) 44.25% United States Lagoa Investments Ltd. 34,277 (Common) 39.25% Bermuda A▇▇▇▇▇▇ ▇▇▇▇▇ 14,409 (Common) 16.50% United States Pangaea One L.P. 7,759.946 (Preferred) United States Pangaea One (Cayman) L.P. 4,276.712 (Preferred) Cayman Islands Pangaea One Parallel Fund L.P. 3,996.424 (Preferred) Cayman Islands Pangaea One Parallel Fund (B) L.P. 2,107.317 (Preferred) United States Shareholder Number of Shares Percentage Citizenship Bulk Partners (Bermuda) Ltd. 10,000 100% Bermuda Shareholder Number of Shares Percentage Citizenship Bulk Fleet Bermuda Holding Company Limited 10,000 100% Bermuda Shareholder Number of Shares Percentage Citizenship Bulk Partners Holding Company Bermuda Ltd. 1,000 100% Bermuda None None NONE