Managers’ Default. 465 If the Managers fail to meet their obligations under Clauses 3 466 and 4 of this Agreement for any reason within the control of the 467 Managers, the Owners may give notice to the Managers of the 468 default, requiring them to remedy it within 20 Business Daysas 469 soon as practically possible. In the event that the Managers fail to remedy it within a 470 reasonable timesuch period to the satisfaction of the Owners, the 471 shall be entitled to terminate the Agreement with immediate effect 472 by notice in writing. 473
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Samples: Standard Ship Management Agreement (Costamare Inc.)
Managers’ Default. 465 If the Managers fail to meet their obligations under Clauses 3 466 and 4 of this Agreement for any reason within the control of the 467 Managers, the Owners may give notice to the Managers of the 468 default, requiring them to remedy it within 20 Business Daysas Days as 469 soon as practically possible. In the event that the Managers fail to remedy it within a 470 reasonable Reasonable timesuch period to the satisfaction of the Owners, the 471 Owners shall be entitled to terminate the Agreement with immediate effect 472 by notice in writing. 473
Appears in 1 contract
Managers’ Default. 465 If the Managers fail fall to meet their obligations under Clauses 3 466 and 4 of this Agreement for any reason within the control of the 467 Managers, the Owners may give notice to the Managers of the 468 default, requiring them to remedy it within 20 Business Daysas 469 as soon as practically 469 possible. In the event that the Managers fail to remedy it within a 470 reasonable timesuch period time to the satisfaction of the Owners, the Owners 471 shall be entitled to terminate the Agreement with immediate effect 472 by notice in writing. 473
Appears in 1 contract
Samples: Standard Ship Management Agreement (KNOT Offshore Partners LP)
Managers’ Default. 465 If the Managers fail to meet their obligations under Clauses 3 466 and 4 of this Agreement for any reason within the control of the 467 Managers, the Owners may give notice to the Managers of the 468 default, requiring them to remedy it within 20 Business Daysas 469 soon as practically possible. In the event that the Managers fail to remedy it within a 470 reasonable timesuch period to the satisfaction of the Owners, the 471 Owners shall be entitled to terminate the Agreement with immediate effect 472 by notice in writing. 473
Appears in 1 contract
