Common use of Responsibility of the Manager Clause in Contracts

Responsibility of the Manager. The Manager shall assist the Company with the following whether or not related to the Vessels: (i) ensuring that the Company is in compliance with all Applicable Laws, including without limitation, all relevant securities laws, and the rules and regulations of the SEC, the American Stock Exchange and any other securities exchange upon which the Company’s securities are listed; (ii) arranging for the provision of advisory services to the Company with respect to the Company’s obligations under applicable securities legislation in the United States and arranging for compliance with all disclosure and reporting obligations under applicable securities legislation including the preparation for review, approval and filing by the Company of reports and other documents with the SEC and all other applicable regulatory authorities; (iii) maintaining the Company’s corporate existence and good standing in all necessary jurisdictions and assisting in all other corporate and regulatory compliance matters; (iv) ensuring that the Group owns or possesses all licenses, patents, copyrights and trademarks which are necessary and used in the operation of its business; (v) investor relations matters on behalf of the Company; (vi) administering and supervising Legal Actions by, against or in respect of any Vessel or any Group Company; (vii) adjusting and negotiating settlements, with or on behalf of claimants or underwriters, of any claim or damages which are recoverable under policies of insurance; and (viii) obtaining from the Technical Manager, at the request of the Company, all documentation and records related to the Safety Management System (SMS) and/or the Crew, which the Company needs in order to demonstrate compliance with the ISM Code and STCW 95 or to defend against a third party.