Common use of ISM Code compliance Clause in Contracts

ISM Code compliance. Each Obligor shall: a) procure that each of the Vessels remains subject to a SMS for the duration of the Facility; b) procure that a valid and current SMC is maintained for each of the Vessels for the duration of the Facility; c) if not itself, procure that the Technical Manager of the Vessels maintains a valid and current DOC for the duration of the Facility; d) immediately notify the Agent in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the SMC of any of the Vessels or of the DOC of the Technical Manager; and e) immediately notify the Agent in writing of any “accident” or “major non-conformity”, each as those terms is defined in the Guidelines in the application of the IMO International Safety Management Code issued by the International Chamber of Shipping and International Shipping Federation.

ISM Code compliance. Each Obligor The Obligors shall: a) procure that each of the Vessels remains subject to a SMS for the duration of the Facility; b) procure that a valid and current SMC is maintained for each of the Vessels for the duration of the Facility; c) if not itself, procure that the Technical Manager of the Vessels maintains a valid and current DOC for the duration of the Facility; d) immediately upon becoming aware of same notify the Agent in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the SMC of any of the Vessels or of the DOC of the Technical Manager; and e) immediately notify the Agent in writing of any “"accident” " or “"major non-conformity”", each as those terms is defined in the Guidelines in the application of the IMO International Safety Management Code issued by the International Chamber of Shipping and International Shipping Federation.

ISM Code compliance. Each Obligor shallThe Borrower will: a) procure that each of the Vessels Vessel remains subject to a SMS for the duration of the FacilityLoan; b) procure that a valid and current SMC is maintained for each of the Vessels Vessel for the duration of the FacilityLoan; c) if not itself, procure that the Technical Manager of the Vessels (if any) or Bareboat Charterer maintains a valid and current DOC for the duration of the FacilityLoan; d) immediately notify the Agent in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the SMC of any of the Vessels Vessel or of the DOC of the Technical ManagerManager (if any) or the Bareboat Charterer; and e) immediately notify the Agent in writing of any “accident” or “major non-conformity”, each as those terms is defined in the Guidelines in the application of the IMO International Safety Management Code issued by the International Chamber of Shipping and International Shipping Federation.

ISM Code compliance. Each Obligor shallThe Borrower will: a) procure that each of the Vessels remains subject to a SMS for the duration of the Facility; b) procure that a valid and current SMC is maintained for each of the Vessels for the duration of the Facility; c) if not itself, procure that the Technical Manager Manager(s) of the Vessels maintains a valid and current DOC for the duration of the Facility; d) immediately notify the Agent in writing as soon as it becomes aware of same of any actual or threatened withdrawal, suspension, cancellation or modification of the SMC of any of the Vessels or of the DOC of any of the Technical ManagerManager(s); and e) immediately notify the Agent in writing as soon as it becomes aware of same of any “accident” or “major non-conformity”, each as those terms is defined in the Guidelines in the application of the IMO International Safety Management Code issued by the International Chamber of Shipping and International Shipping Federation.

ISM Code compliance. Each Obligor shallThe Borrower will: a) procure that each of the Vessels remains remain subject to a SMS for the duration of the Facility; b) procure that a valid and current SMC is maintained for each of the Vessels for the duration of the Facility; c) if not itself, procure that the Technical Manager of the Vessels maintains a valid and current DOC for the duration of the Facility; d) immediately notify the Agent in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the SMC of any of the Vessels or of the DOC of the Technical Manager; and e) immediately notify the Agent in writing of any “accident” or “major non-conformity”, each as those terms is defined in the Guidelines in the application of the IMO International Safety Management Code issued by the International Chamber of Shipping and International Shipping Federation.

ISM Code compliance. Each Obligor shallThe Borrower will: a) procure that each of the Vessels remains remain subject to a SMS for the duration of the Facility; b) procure that a valid and current SMC is maintained for each of the Vessels for the duration of the FacilitySecurity Period; c) if not itself, procure that the Technical Manager Managers of the Vessels maintains a valid and current DOC for the duration of the FacilitySecurity Period; d) immediately notify the Agent in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the SMC of any of the Vessels Vessel or of the DOC of any of the Technical ManagerManagers; and e) immediately notify the Agent in writing of any “"accident” " or “"major non-conformity”", each as those terms is defined in the Guidelines in the application of the IMO International Safety Management Code issued by the International Chamber of Shipping and International Shipping Federation.

ISM Code compliance. Each Obligor shall:The Borrower will a) procure that each of the Vessels remains subject to a SMS for the duration of the Facility;, b) procure that a valid and current SMC is maintained for each of the Vessels for the duration of the Facility;, c) if not itself, procure that the Technical Manager of the Vessels maintains a valid and current DOC for the duration of the Facility;, d) immediately notify the Agent in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the SMC of any of the Vessels or of the DOC of the Technical Manager; , and e) immediately notify the Agent in writing of any “"accident” " or “"major non-conformity”", each as those terms is defined in the Guidelines in the application of the IMO International Safety Management Code issued by the International Chamber of Shipping and International Shipping Federation.

ISM Code compliance. Each Obligor shallThe Borrower will: a) procure that each of the Vessels remains subject to a SMS for the duration of the Facility; b) procure that a valid and current SMC is maintained for each of the Vessels for the duration of the Facility; c) if not itself, procure that the Technical Manager of the Vessels maintains a valid and current DOC for the duration of the Facility; d) immediately notify the Agent in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the SMC of any of the Vessels or of the DOC of the Technical Manager; and e) immediately notify the Agent in writing of any “"accident” " or “"major non-conformity”", each as those terms is defined in the Guidelines in the application of the IMO International Safety Management Code issued by the International Chamber of Shipping and International Shipping Federation.

ISM Code compliance. Each Obligor shallThe Borrower will: (a) procure that each of cause the Vessels remains to remain subject to a SMS for the duration of the Facility; (b) procure that maintain a valid and current SMC is maintained for each of the Vessels for the duration of the FacilitySecurity Period; (c) if not itselfmaintain, procure that or cause the Technical Manager Managers of the Vessels maintains to maintain, a valid and current DOC for the duration of the FacilitySecurity Period; (d) immediately notify the Agent in writing of any actual or threatened withdrawal, suspension, cancellation or modification of the SMC of any of the Vessels Vessel or of the DOC of any of the Technical ManagerManagers; and (e) immediately notify the Agent in writing of any “accident” or “major non-conformity”, each as those terms is defined in the Guidelines in the application of the IMO International Safety Management Code issued by the International Chamber of Shipping and International Shipping Federation.