participate in management
(38) “participate in management”— (A) (i) means actually participating in the management or operational affairs of a vessel or facility; and (ii) does not include merely having the capacity to influence, or the unexercised right to control, vessel or facility operations; and (B) does not include— (i) performing an act or failing to act prior to the time at which a security interest is created in a vessel or facility; (ii) holding a security interest or abandoning or releasing a security interest; (iii) including in the terms of an extension of credit, or in a contract or security agreement relating to the extension, a covenant, warranty, or other term or condition that relates to environmental compliance; (iv) monitoring or enforcing the terms and conditions of the extension of credit or security interest; (v) monitoring or undertaking one or more inspections of the vessel or facility; (vi) requiring a removal action or other lawful means of addressing a discharge or substantial threat of a discharge of oil in connection with the vessel or facility prior to, during, or on the expiration of the term of the extension of credit; (vii) providing financial or other advice or counseling in an effort to mitigate, prevent, or cure default or diminution in the value of the vessel or facility; (viii) restructuring, renegotiating, or otherwise agreeing to alter the terms and conditions of the extension of credit or security interest, exercising forbearance; (ix) exercising other remedies that may be available under applicable law for the breach of a term or condition of the extension of credit or security agreement; or (x) conducting a removal action under section 1321(c) of this title or under the direction of an on-scene coordinator appointed under the National Contingency Plan, if such actions do not rise to the level of participating in management under subparagraph (A) of this paragraph and paragraph (26)(A)(vi);
Source
33 USC § 2701(38)
Scoping language
None identified, default scope is assumed to be the parent (subchapter I) of this section.