Common use of Default of Owner Clause in Contracts

Default of Owner. 13.1. The Owner will be in default if: 13.1.1. the Rent, any part of it or any other monies payable by the Owner to GCCM are in arrears and remain unpaid for seven (7) days after any of the due dates for payment (whether demanded or not); 13.1.2. the Owner fails to comply promptly with any of the conditions contained in this Agreement which ought to be performed or observed by the Owner or fails or refuses to comply with any rules or directions of the Manager; 13.1.3. the Owner abandons, vacates or otherwise surrenders the Berth or the Vessel (which will be deemed to occur if any Rent remains unpaid for more than one month from the date the Rent was due); 13.1.4. the Owner enters into any form of liquidation, insolvency, is wound up or dissolved, enters into a scheme of arrangement, is placed under administration or a receiver or receiver and manager is appointed. 13.2. If the Owner is in default under this Agreement and the requirements of the Property Law Act 1974 (Qld) are satisfied (if applicable to the default), then GCCM may terminate this Agreement by notice in writing to the Owner. 13.3. Without prejudice to GCCM’s rights in Law or equity, if the Owner is in default (evidence of which will be a certificate signed by the Manager to that effect), GCCM: 13.3.1. may relocate the Vessel to another area within the Marina or the Complex; 13.3.2. shall have a lien over the Vessel until the default is remedied or all outstanding monies are paid; 13.3.3. shall be entitled to take such action as may be necessary to prevent the removal of the Vessel from the Marina or the Complex; and 13.3.4. will be unconditionally and irrevocably appointed by the Owner for the purpose of selling the Vessel by private sale or public auction and apply the proceeds of such sale as follows: a) first in satisfaction of any registered bill of sale or registered encumbrance over the Vessel; b) second, in payment of the Costs of the sale and/or auction; c) third, in payment of all outstanding monies owing to GCCM under this Agreement; and d) lastly, any balance of proceeds of sale shall be paid to the Owner. 13.4. Termination of this Agreement by GCCM does not effect any prior Claims that GCCM my have against the Owner. 13.5. GCCM’s acceptance of Rent or other money under this Agreement (before or after termination) is not a waiver of a breach or an acceptance of the repudiation of this Agreement by the Owner. 13.6. No waiver by GCCM or variation of this Agreement will be effective unless it is in writing.

Default of Owner. 13.1. The Owner will be in default if: 13.1.1. the Rent, any part of it or any other monies payable by the Owner to GCCM are in arrears and remain unpaid for seven (7) days after any of the due dates for payment (whether demanded or not); 13.1.2. the Owner fails to comply promptly with any of the conditions contained in this Agreement which ought to be performed or observed by the Owner or fails or refuses to comply with any rules or directions of the Manager; 13.1.3. the Owner abandons, vacates or otherwise surrenders the Berth or the Vessel (which will be deemed to occur if any Rent remains unpaid for more than one month from the date the Rent was due); 13.1.4. the Owner enters into any form of liquidation, insolvency, is wound up or dissolved, enters into a scheme of arrangement, is placed under administration or a receiver or receiver and manager is appointed. 13.2. If the Owner is in default under this Agreement and the requirements of the Property Law Act 1974 (Qld) are satisfied (if applicable to the default), then GCCM may terminate this Agreement by notice in writing to the Owner. 13.3. Without prejudice to GCCM’s rights in Law or equity, if the Owner is in default (evidence of which will be a certificate signed by the Manager to that effect), GCCM: 13.3.1. may relocate the Vessel to another area within the Marina or the Complex; 13.3.2. shall have a lien over the Vessel until the default is remedied or all outstanding monies are paid; 13.3.3. shall be entitled to take such action as may be necessary to prevent the removal of the Vessel from the Marina or the Complex; and 13.3.4. will be unconditionally and irrevocably appointed by the Owner for the purpose of selling the Vessel by private sale or public auction and apply the proceeds of such sale as follows: a) first in satisfaction of any registered bill of sale or registered encumbrance over the Vessel; b) second, in payment of the Costs of the sale and/or auction; c) third, in payment of all outstanding monies owing to GCCM under this Agreement; and d) lastly, any balance of proceeds of sale shall be paid to the Owner. 13.4. Termination of this Agreement by GCCM does not effect any prior Claims that GCCM my have against the Owner. 13.5. GCCM’s acceptance of Rent or other money under this Agreement (before or after termination) is not a waiver of a breach or an acceptance of the repudiation of this Agreement by the Owner.Owner.‌ 13.6. No waiver by GCCM or variation of this Agreement will be effective unless it is in writing.