Owners’ default. (i) The Managers shall be entitled to terminate the Agreement with immediate effect by notice in writing if any moneys payable by the Owners under this Agreement and/or the owners of any associated vessel, details of which are listed in Annex “D”, shall not have been received in the Managers’ nominated account within ten running days of receipt by the Owners of the Managers written request or if the Vessel is repossessed by the Mortgagees.
Owners’ default. The following shall, at the election of Manager, constitute events of default by Owner under this Agreement (each such event being referred to herein as an "Owner's Default"):
Owners’ default. If the Owner shall default in performing any of the provisions of this lease to be performed by the Owner, the Tenant shall not pursue any available remedies (except to secure an order or judgment of court restraining or enjoining each such default) until the Tenant shall provide Owner with sixty (60) days advance written notice thereof specifying each such default.
Owners’ default. Owner shall be in default of its obligations under this Agreement if any of the following events occurs:
Owners’ default. Owner shall have committed an "Owner's Default" if Owner shall:
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. (b) If any arrest or detention of the Vessel referred to in paragraph (a) above continues for a period of more than forty-five (45) days, the Charterers shall be entitled to purchase the Vessel pursuant to Clause 53 (Call Option), except that:- (i) the notice period required under Clause 53.2(a) shall be shortened to ten (10) Banking Days before the date on which the Sale to the Charterers is intended to occur; (ii) the requirement under Clause 53.2(b) shall not apply; and (iii) the purchase price of the Vessel shall be the sum of:- (A) the Termination Sum (excluding the amounts set out in paragraphs (b), (c) and (f) of the definition thereof) as at the date on which the Sale to the Charterers occurs; and (B) the Charterhire Principal Balance as at the date on which the Sale to the Charterers occurs. (c) Upon the termination of this Charter and the Sale to the Charterers pursuant to the procedure set out above, any liabilities and obligations of the Owners to the Charterers under the Transaction Documents, at law or otherwise shall be extinguished and fully discharged. The Parties agree that the Charterers' remedies in respect of any breach by the Owners of the Transaction Documents shall be limited to those set out in this Clause 55A.
Owners’ default. In relation to any Listing Agreement, if the Owner has entered into a Sale and Purchase Agreement in relation to the Vessel but subsequently, in breach of that agreement, fails to complete the purchase in circumstances in which the purchaser is entitled to the return of all or substantially all of the deposit, the Owner shall pay the Broker the Agreed Commission in full on the Asking Price.
Owners’ default. 19.1 Should the OWNER commit a breach of any of the terms of this contract, all of which terms shall be material, and not rectify such breach after having been given SEVEN (7) days notice by registered post to do so, the BUILDER shall be entitled forthwith to give the OWNER, per registered post, written notice of the termination of this contract, without prejudice to any other rights which the BUILDER may have in terms of this contract or in law.
Owners’ default. (i) The Managers shall be entitled to terminate the Agreement with immediate effect by notice in writing if any moneys payable by the Owners under this Agreement and/or the owners of any associated vessel, details of which are listed in Annex "D", shall not have been received in the Managers' nominated account within ten running days of receipt by the Owners of the Managers written request or if the Vessel is repossessed by the Mortgagees.
Owners’ default. If the Owner has entered into a Sale and Purchase Agreement in relation to the Vessel but subsequently, in breach of that agreement, fails to complete the purchase in circumstances in which the purchas- er is entitled to the return of all or substantially all of the deposit, the Owner shall pay NYA the Agreed Commission in full on the Asking Price.
