Common use of ISM Code compliance Clause in Contracts

ISM Code compliance. The Borrowers shall, and shall procure that the Technical Manager: (a) procure that the Vessels remains subject to a SMS; (b) procure that a valid and current SMC is maintained for the Vessels; (c) procure that the Technical Manager maintains a valid and current DOC; (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 nonconformity", 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. The Borrowers Borrower shall, and shall procure that the Technical Manager: (a) procure that the Vessels Vessel remains subject to a SMS; (b) procure that a valid and current SMC is maintained for the VesselsVessel; (c) procure that the Technical Manager maintains a valid and current DOC; (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 Manager; and (e) immediately notify the Agent in writing of any "“accident" ” or "“major nonconformity"”, 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. The Borrowers Borrower shall, and shall procure that the Technical ManagerManager shall: (a) procure that the Vessels Vessel remains subject to a SMS; (b) procure that a valid and current SMC is maintained for the VesselsVessel; (c) if not itself, procure that the Technical Manager maintains a valid and current DOC; (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 its DOC or the DOC of the Technical Manager; and (e) immediately notify the Agent in writing of any "“accident" ” or "“major nonconformity"”, 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. The Borrowers shall, and shall procure that the Technical Manager: (a) procure that the Vessels remains subject to a SMS; (b) procure that a valid and current SMC is maintained for the Vessels; (c) procure that the Technical Manager maintains a valid and current DOC; (d) immediately notify the Agent Lender 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 and (e) immediately notify the Agent Lender in writing of any "accident" or "major nonconformity", 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.