Managers’ Default. If the Managers fail to meet their obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically possible. In the event that the Managers fail to remedy it within a reasonable time to the satisfaction of the Owners, the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writing.
Appears in 35 contracts
Samples: Standard Ship Management Agreement, Ship Management Agreement (DryShips Inc.), Ship Management Agreement (DryShips Inc.)
Managers’ Default. If the Managers fail Manager fails to meet their its obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the ManagersManager, the Owners Company may give notice in writing to the Managers Manager of the default, requiring them it to remedy it the default as soon as practically possible. In the event that the Managers fail Manager fails to remedy it within a reasonable time to the reasonable satisfaction of the OwnersCompany, the Owners Company shall be entitled to terminate the this Agreement with immediate effect by giving notice in writingwriting to the Manager.
Appears in 11 contracts
Samples: Pool Agreement (Gener8 Maritime, Inc.), Pool Agreement (Gener8 Maritime, Inc.), Pool Agreement (Gener8 Maritime, Inc.)
Managers’ Default. If the Managers fail to meet their obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it within as soon as practically possible. In the event that the Managers fail to remedy it within a reasonable time to the satisfaction of the Owners, the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writing.
Appears in 8 contracts
Samples: Management Agreement (Dynagas LNG Partners LP), Shipping Agreement (Dynagas LNG Partners LP), Ship Management Agreement (Dynagas LNG Partners LP)
Managers’ Default. If the Managers fail to meet their obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically possible. In the event that the Managers fail to remedy it within 30 days after a reasonable time written notice to the satisfaction of Managers from the Owners, the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writingwriting without prejudice to any rights of the Owners at such time.
Appears in 3 contracts
Samples: Standard Ship Management Agreement (Arlington Tankers Ltd.), Standard Ship Management Agreement (Arlington Tankers Ltd.), Agreement (Arlington Tankers Ltd.)
Managers’ Default. If the Managers fail to meet their obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically possible. In the event that the Managers fail to remedy it within a reasonable time to the satisfaction of the Owners, Owners the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writing.
Appears in 2 contracts
Samples: Standard Ship Management Agreement (Castor Maritime Inc.), Standard Ship Management Agreement (Castor Maritime Inc.)
Managers’ Default. If the Managers are in material breach of any of fail to meet their obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically Possible arid in any case within ***** days of such notice whenever practically possible. In the event that the Managers fail to remedy the default within the time permitted it within a reasonable time to the satisfaction of the Owners, the Owners shall shalt be entitled to terminate the Agreement with immediate effect by notice in writing.
Appears in 2 contracts
Samples: Shareholder Agreement (Exmar Energy Partners LP), Shareholder Agreement (Exmar Energy Partners LP)
Managers’ Default. If the Managers fail to meet their obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically possible. In the event that the Managers fail to remedy it within a reasonable time to the satisfaction of the Owners 30 days after a written notice to the Managers from the Owners, the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writingwriting without prejudice to any rights of the Owners at such time.
Appears in 2 contracts
Samples: Ship Management Agreement, Ship Management Agreement (Aries Maritime Transport LTD)
Managers’ Default. If the Managers fail to meet in any material respect their obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically possible. In the event that the Managers fail to remedy it within a reasonable time to the satisfaction of the Owners, the Owners shall be entitled to terminate the this Agreement with immediate effect by thirty (30) days’ prior notice in writing.
Appears in 2 contracts
Samples: Shipmanagement Agreement (GoodBulk Ltd.), Shipmanagement Agreement (GoodBulk Ltd.)
Managers’ Default. If the Managers fail to meet their obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically possible. In the event that the Managers fail to remedy it within a reasonable time to the satisfaction of the Owners, the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writing.Managers
Appears in 1 contract
Samples: Ship Management Agreement (KNOT Offshore Partners LP)
Managers’ Default. If the Managers fail to meet their obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically possiblewithin 20 Business Days. In the event that the Managers fail to remedy it within such a reasonable time period to the satisfaction of the Owners, the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writing.
Appears in 1 contract
Managers’ Default. If the Managers fail to meet their obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, default requiring them to remedy it as soon as practically possible. In the event that the Managers fail to remedy it within a reasonable time to the satisfaction of the Owners, the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writing.
Appears in 1 contract
Samples: Standard Ship Management Agreement (Oceanfreight Inc.)
Managers’ Default. If the Managers fail to meet their obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically possible. In the event that the Managers fail to remedy it within a reasonable time to the satisfaction of the Owners, the Owners Owner shall be entitled to terminate the Agreement with immediate effect by notice in writing.
Appears in 1 contract
Managers’ Default. If the Managers fail to meet their obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically possible. In the event that the Managers fail to remedy it within 30 days after written notice to the Managers from a reasonable time to the satisfaction of the Owners, the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writingwriting without prejudice to any rights of Owners at such time.
Appears in 1 contract
Samples: Standard Ship Management Agreement (Ship Finance International LTD)
Managers’ Default. If the Managers fail to meet their are in material breach of any of obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically Possible and in any case within ***** days of such notice whenever practically possible. In the event that the Managers fail to remedy it the default within a reasonable the time permitted to the satisfaction of the Owners, the Owners shall shalt be entitled to terminate the Agreement with immediate effect by notice in writing.
Appears in 1 contract
Managers’ Default. If the Managers fail to meet their obligations under Clauses 3 and and/or 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically possible. In the event that the Managers fail to remedy it within a reasonable time to the satisfaction of the Ownerssuch time, the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writing.
Appears in 1 contract
Managers’ Default. If the Managers fail to meet their obligations under Clauses 3 and 4 of this Agreement for any reason within the control of the Managers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically possiblewithin 20 Business Days. In the event that the Managers fail to remedy it within a reasonable time such period to the satisfaction of the Owners, the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writing.
Appears in 1 contract
Managers’ Default. If the Managers fail to meet their obligations obligation under Clauses 3 and 4 of this Agreement for any reason within the control of the Managersmanagers, the Owners may give notice to the Managers of the default, requiring them to remedy it as soon as practically possible. In the event that the Managers fail to remedy it within a reasonable time to the satisfaction of the Owners, the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writing.
Appears in 1 contract
Samples: Standard Ship Management Agreement