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 20 Business Days. In the event that the Managers fail to remedy it within such a period to the satisfaction of the Owners, the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writing.
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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 20 Business Daysas soon as practically possible. In the event that the Managers fail to remedy it within such 30 days after written notice to the Managers from a period 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.
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Sources: Standard Ship Management Agreement (Ship Finance International 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 within 20 Business Days. In the event that the Managers fail to remedy it within a such a period to the satisfaction of the Owners, the Owners shall be entitled to terminate the Agreement with immediate effect by notice in writing.
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