Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or
Appears in 18 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Holdings Inc.), Facility Agreement (Navios Maritime Holdings Inc.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents or any of the Underlying Documents (other than those referred to in clauses 10.1.1 10.1.1, 10.1.2 and 10.1.2 10.1.3 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or
Appears in 8 contracts
Samples: Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.), Eighth Supplemental Agreement (Aegean Marine Petroleum Network Inc.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the BanksLenders) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or
Appears in 7 contracts
Samples: Facility Agreement, Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or
Appears in 7 contracts
Samples: Facility Agreement (Euroseas Ltd.), Facility Agreement (EuroDry Ltd.), Facility Agreement
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent Bank (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or
Appears in 6 contracts
Samples: Facility Agreement, Facility Agreement, Facility Agreement (Navios Maritime Acquisition CORP)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 11.1.1, 11.1.2 and 10.1.2 11.1.3 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or
Appears in 6 contracts
Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Loan Documents (other than those referred to in clauses clause 10.1.1 and 10.1.2 above) unless such breach or omission, in the reasonable opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen thirty (1530) days Business Days of the Lender giving written notice to the Borrower of, or the Borrower becoming aware of the occurrence thereof; or
Appears in 5 contracts
Samples: Secured Loan Agreement (Navios Maritime Holdings Inc.), Secured Loan Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios Maritime Holdings Inc.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or
Appears in 4 contracts
Samples: Facility Agreement (Navios Maritime Holdings Inc.), Facility Agreement (Navios Maritime Holdings Inc.), Facility Agreement (Navios Maritime Holdings Inc.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied to the satisfaction of the Agent within fifteen ten (1510) days of the occurrence thereof; or
Appears in 3 contracts
Samples: Facility Agreement (EuroDry Ltd.), Facility Agreement (Euroseas Ltd.), Facility Agreement (Pyxis Tankers Inc.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents to which it is a party (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or
Appears in 2 contracts
Samples: Loan Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the BanksCreditor Parties) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or
Appears in 2 contracts
Samples: Facility Agreement (Navios Maritime Acquisition CORP), Facility Agreement (Navios Maritime Acquisition CORP)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days (or any other longer period that the Bank may agree in its sole discretion) of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or
Appears in 2 contracts
Samples: Supplemental Agreement, Supplemental Agreement (Gala Properties Inc.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 Clauses 9.l(a) and 10.1.2 9.1 (b) above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case such action as the same Lender may require shall constitute an Event of Default if it has not have been remedied taken within fifteen (15) days of the occurrence thereofLender notifying in writing the relevant Security Party of such default and of such required action; or
Appears in 2 contracts
Samples: Loan Agreement (Seanergy Maritime Holdings Corp.), Loan Agreement (Seanergy Maritime Holdings Corp.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen thirty (1530) days of the occurrence thereof; or
Appears in 1 contract
Samples: Loan Agreement (Pyxis Tankers Inc.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen fourteen (1514) days of the occurrence thereof; or
Appears in 1 contract
Samples: Facility Agreement for a Term Loan (Box Ships Inc.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen fourteen (1514) days of the occurrence thereof; or
Appears in 1 contract
Samples: Facility Agreement for a Term Loan Facility (Navios Maritime Acquisition CORP)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Loan Documents (other than those referred to in clauses 10.1.1 and 10.1.2 clause 9.1.1 above) unless such breach or omission, in the reasonable opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen thirty (1530) days Business Days of the Lender giving written notice to the Borrower of, or the Borrower becoming aware of the occurrence thereof; or
Appears in 1 contract
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen calendar (15) days of the occurrence thereof; or
Appears in 1 contract
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or
Appears in 1 contract
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents or any of the Underlying Documents (other than those referred to elsewhere in clauses 10.1.1 and 10.1.2 abovethis clause 10.1) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or
Appears in 1 contract
Samples: Facility Agreement (Aegean Marine Petroleum Network Inc.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case such action as the same Lender may require shall constitute an Event of Default if it has not have been remedied taken within fifteen five (155) days of the occurrence thereofLender notifying the relevant Security Party of such default and of such required action; or
Appears in 1 contract
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents to which it is a party (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days Banking Days of the occurrence thereof; or
Appears in 1 contract
Samples: Loan Agreement (EuroDry Ltd.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses clause 10.1.1 and 10.1.2 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Majority Lenders is capable of remedy, in which case such action as the same Facility Agent may require shall constitute an Event of Default if it has not have been remedied taken within fifteen thirty (1530) days of the occurrence thereofFacility Agent notifying the relevant Security Party of such default and of such required action; or
Appears in 1 contract
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Loan Documents (other than those referred to in clauses 8.1.15, 8.1.16 and 10.1.1 and 10.1.2 above) unless such breach or omission, in the reasonable opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen sixty (1560) days of the occurrence thereof; or
Appears in 1 contract
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 aboveabove and clause 10.1.30 (Sanctions) below) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen ten (1510) days of the occurrence thereof; or
Appears in 1 contract
Samples: Facility Agreement (Navios Maritime Acquisition CORP)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless and in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or
Appears in 1 contract
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 Clauses 10.1(a) and 10.1.2 10.1 (b) above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may, at its sole discretion of the Bank, require shall constitute an Event of Default if it has not have been remedied taken within fifteen (15) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or
Appears in 1 contract
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the reasonable opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or
Appears in 1 contract
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the reasonable opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen fourteen (1514) days of the occurrence thereof; or
Appears in 1 contract
Samples: Facility Agreement for a Term Loan (StealthGas Inc.)
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 Clauses 12.1.1 and 10.1.2 12.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) omission is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied cured within fifteen (15) days of the occurrence thereofcalendar days; or
Appears in 1 contract
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case such action as the same Agent may require shall constitute an Event of Default if it has not have been remedied taken within fifteen (15) 10 days of the occurrence thereofAgent notifying the relevant Security Party of such default and of such required action; or
Appears in 1 contract
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the reasonable opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or
Appears in 1 contract
Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or
Appears in 1 contract
Samples: Facility Agreement (Euroseas Ltd.)
Breach of other obligations. any Security Party Party, any Manager commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen calendar (15) days of the occurrence thereof; or
Appears in 1 contract
Samples: Facility Agreement for a Term Loan Facility (Navios Maritime Partners L.P.)