Common use of Breach of other obligations Clause in Contracts

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or

Appears in 18 contracts

Samples: Agreement (Navios Maritime Partners L.P.), Agreement (Navios Maritime Holdings Inc.), Agreement (Navios Maritime Acquisition CORP)

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Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents or any of the Underlying Documents (other than those referred to in clauses 10.1.1 10.1.1, 10.1.2 and 10.1.2 10.1.3 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or

Appears in 8 contracts

Samples: Tenth Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Eighth Supplemental Agreement (Aegean Marine Petroleum Network Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or

Appears in 7 contracts

Samples: Facility Agreement (Euroseas Ltd.), Agreement (EuroDry Ltd.), www.lw.com

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the BanksLenders) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or

Appears in 7 contracts

Samples: Agreement, Agreement (Navios Maritime Partners L.P.), Agreement (Navios Maritime Partners L.P.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent Bank (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or

Appears in 6 contracts

Samples: Agreement, Agreement, Facility Agreement (Navios Maritime Acquisition CORP)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 11.1.1, 11.1.2 and 10.1.2 11.1.3 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or

Appears in 6 contracts

Samples: Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.), Loan Agreement (Safe Bulkers, Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Loan Documents (other than those referred to in clauses clause 10.1.1 and 10.1.2 above) unless such breach or omission, in the reasonable opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen thirty (1530) days Business Days of the Lender giving written notice to the Borrower of, or the Borrower becoming aware of the occurrence thereof; or

Appears in 5 contracts

Samples: Secured Loan Agreement (Navios Maritime Holdings Inc.), Agreement (Navios Maritime Holdings Inc.), Loan Agreement (Navios Maritime Holdings Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or

Appears in 4 contracts

Samples: Facility Agreement (Navios Maritime Holdings Inc.), Facility Agreement (Navios Maritime Holdings Inc.), Agreement (Navios Maritime Holdings Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied to the satisfaction of the Agent within fifteen ten (1510) days of the occurrence thereof; or

Appears in 3 contracts

Samples: Facility Agreement (Pyxis Tankers Inc.), EuroDry Ltd., Euroseas Ltd.

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents to which it is a party (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or

Appears in 2 contracts

Samples: Supplemental Agreement (Aegean Marine Petroleum Network Inc.), Loan Agreement (Aegean Marine Petroleum Network Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days (or any other longer period that the Bank may agree in its sole discretion) of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or

Appears in 2 contracts

Samples: Supplemental Agreement, Supplemental Agreement (Gala Properties Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the BanksCreditor Parties) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or

Appears in 2 contracts

Samples: Agreement (Navios Maritime Acquisition CORP), Navios Maritime Acquisition CORP

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 Clauses 9.l(a) and 10.1.2 9.1 (b) above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case such action as the same Lender may require shall constitute an Event of Default if it has not have been remedied taken within fifteen (15) days of the occurrence thereofLender notifying in writing the relevant Security Party of such default and of such required action; or

Appears in 2 contracts

Samples: Seanergy Maritime Holdings Corp., Seanergy Maritime Holdings Corp.

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 Clauses 12.1.1 and 10.1.2 12.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) omission is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied cured within fifteen (15) days of the occurrence thereofcalendar days; or

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Partners L.P.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses clause 10.1.1 and 10.1.2 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Majority Lenders is capable of remedy, in which case such action as the same Facility Agent may require shall constitute an Event of Default if it has not have been remedied taken within fifteen thirty (1530) days of the occurrence thereofFacility Agent notifying the relevant Security Party of such default and of such required action; or

Appears in 1 contract

Samples: Agreement (Teekay LNG Partners L.P.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 Clauses 10.1(a) and 10.1.2 10.1 (b) above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may, at its sole discretion of the Bank, require shall constitute an Event of Default if it has not have been remedied taken within fifteen (15) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or

Appears in 1 contract

Samples: Agreement (NewLead Holdings Ltd.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the reasonable opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or

Appears in 1 contract

Samples: Agreement (Navios Maritime Holdings Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Loan Documents (other than those referred to in clauses 8.1.15, 8.1.16 and 10.1.1 and 10.1.2 above) unless such breach or omission, in the reasonable opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen sixty (1560) days of the occurrence thereof; or

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Holdings Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents or any of the Underlying Documents (other than those referred to elsewhere in clauses 10.1.1 and 10.1.2 abovethis clause 10.1) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or

Appears in 1 contract

Samples: Agreement (Aegean Marine Petroleum Network Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless and in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or

Appears in 1 contract

Samples: Junior Loan Agreement (FreeSeas Inc.)

Breach of other obligations. any Security Party Party, any Manager commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen calendar (15) days of the occurrence thereof; or

Appears in 1 contract

Samples: Navios Maritime Partners L.P.

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Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the reasonable opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen fourteen (1514) days of the occurrence thereof; or

Appears in 1 contract

Samples: Agreement (StealthGas Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or

Appears in 1 contract

Samples: Agreement (Euroseas Ltd.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Loan Documents (other than those referred to in clauses 10.1.1 and 10.1.2 clause 9.1.1 above) unless such breach or omission, in the reasonable opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen thirty (1530) days Business Days of the Lender giving written notice to the Borrower of, or the Borrower becoming aware of the occurrence thereof; or

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Acquisition CORP)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen calendar (15) days of the occurrence thereof; or

Appears in 1 contract

Samples: Facility Agreement (Navios Maritime Holdings Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case such action as the same Lender may require shall constitute an Event of Default if it has not have been remedied taken within fifteen five (155) days of the occurrence thereofLender notifying the relevant Security Party of such default and of such required action; or

Appears in 1 contract

Samples: Agreement (NewLead Holdings Ltd.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the reasonable opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or

Appears in 1 contract

Samples: Loan Agreement (Navios Maritime Holdings Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen thirty (1530) days of the occurrence thereof; or

Appears in 1 contract

Samples: Loan Agreement (Pyxis Tankers Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 aboveabove and clause 10.1.30 (Sanctions) below) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen ten (1510) days of the occurrence thereof; or

Appears in 1 contract

Samples: Agreement (Navios Maritime Acquisition CORP)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case such action as the same Agent may require shall constitute an Event of Default if it has not have been remedied taken within fifteen (15) 10 days of the occurrence thereofAgent notifying the relevant Security Party of such default and of such required action; or

Appears in 1 contract

Samples: Loan Agreement (American Eagle Tankers Inc LTD)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents to which it is a party (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days Banking Days of the occurrence thereof; or

Appears in 1 contract

Samples: Agreement (EuroDry Ltd.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless and, in respect of any such breach or omission, omission which in the opinion of the Agent (following consultation with the Banks) Bank is capable of remedy, in which case such action as the same Bank may require shall constitute an Event of Default if it has not have been remedied taken within fifteen fourteen (1514) days of the occurrence thereofBank notifying the relevant Security Party of such default and of such required action; or

Appears in 1 contract

Samples: Agreement (B Plus H Ocean Carriers LTD)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) Lender is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen fourteen (1514) days of the occurrence thereof; or

Appears in 1 contract

Samples: Agreement (Box Ships Inc.)

Breach of other obligations. any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen fourteen (1514) days of the occurrence thereof; or

Appears in 1 contract

Samples: Navios Maritime Acquisition CORP

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