Common use of Owners’ default Clause in Contracts

Owners’ default. (a) If, in the absence of any Termination Event which is continuing, the Vessel is arrested or otherwise detained as a result of the Owners' direct actions or omissions, the Owners shall at their own expense take all reasonable steps, including the provision of bail, to procure that the Vessel is released within a reasonable period of time.

Owners’ default. (a) If, in the absence of any Termination Event which is continuing, the Vessel is arrested or otherwise detained as a result of the Owners' ’ direct actions or omissions, the Owners shall at their own expense take all reasonable steps, including the provision of bail, to procure that the Vessel is released within a reasonable period of time.