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.
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Samples: Okeanis Eco Tankers Corp., Okeanis Eco Tankers Corp., Management Agreement
Owners’ or Managers’ default. (a) 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.
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Samples: 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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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 Managers are convicted of, or admits guilt for, a crime, then the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writing.
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