Company’s Default. If the Company fails to pay the Management Services Commission or any other commission or amount due to the Manager in accordance with the terms of this Agreement, the Manager shall give notice of the default in writing and demand that the outstanding amount is paid within fourteen (14) days from the date of such notice. In the event that such outstanding amount is not paid within this time by the Company, the Manager shall be entitled to terminate this Agreement (and its appointment as Manager hereunder) with immediate effect by giving the notice in writing to the Company.
Appears in 11 contracts
Samples: Pool Agreement (Gener8 Maritime, Inc.), Pool Agreement (Gener8 Maritime, Inc.), Pool Agreement (Gener8 Maritime, Inc.)
