Owners’ or Managers’ default. If either party fails to meet their obligations under this Agreement, the other party may give notice to the party in default requiring them to remedy it. In the event that the party in default fails to remedy it within a reasonable time to the reasonable satisfaction of the other party, that party shall be entitled to terminate this Agreement with immediate effect by giving notice to the party in default.
Appears in 13 contracts
Samples: Shipman 2009 Standard Ship Management Agreement (Okeanis Eco Tankers Corp.), Shipman 2009 Standard Ship Management Agreement (Okeanis Eco Tankers Corp.), Shipman 2009 Standard Ship Management Agreement (KNOT Offshore Partners LP)
Owners’ or Managers’ default. If either party fails to meet their obligations under this Agreement, the other party may give notice to the defaulting party in default requiring them to remedy it. In the event that the defaulting party in default fails to remedy it within a reasonable time to the reasonable satisfaction of the other party, that other party shall be entitled to terminate this Agreement with immediate effect by giving notice to the party in defaultdefaulting party.
Appears in 1 contract
Samples: Ship Management Agreement (Global Ship Lease, Inc.)
Owners’ or Managers’ default. If either party fails to meet their obligations under this Agreement, the other party may give notice to the party in default requiring them to remedy it. In the event that the party in default fails to remedy it within a reasonable time to the reasonable satisfaction of the other party, that party shall be entitled to terminate this Agreement with immediate effect by giving notice to the party in default. If the Manager is convicted of, or admits guilt for, a crime, then the Owner shall be entitled to terminate the Agreement with immediate effect by notice in writing.
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