Common use of ISM Code compliance Clause in Contracts

ISM Code compliance. The Borrowers shall: (a) procure that each Vessel remains subject to a SMS; (b) procure that a valid and current SMC is maintained for each Vessel; (c) if not itself, procure that the relevant 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 a Vessel or of its DOC or the DOC of the relevant 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 shallBorrower will: (a) procure that each the Vessel remains subject to a SMS; (b) procure that a valid and current SMC is maintained for each the Vessel; (c) if not itself, procure that the relevant 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 a the Vessel or of its DOC or the DOC of the relevant ManagerTechnical Manager (or Company) of the Vessel; and (e) immediately notify the Agent in writing of any “accident” or “major nonconformitynon-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. The Borrowers shall, and shall procure that the Technical Manager: (a) procure that each Vessel the Vessels remains subject to a SMS; (b) procure that a valid and current SMC is maintained for each Vesselthe Vessels; (c) if not itself, procure that the relevant 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 a Vessel the Vessels or of its DOC or the DOC of the relevant 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 each the Vessel remains subject to a SMS; (b) procure that a valid and current SMC is maintained for each the Vessel; (c) if not itself, procure that the relevant 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 a the Vessel or of its DOC or the DOC of the relevant Technical Manager; and 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.