Alteration of Delivery Date. In the event of arbitration of any dispute arising from any matters occurring prior to delivery of the VESSEL EQUIPMENT, all delays in delivery of the VESSEL EQUIPMENT due to such arbitration shall be deemed to be permissible delays and the delivery date shall be automatically postponed and/or extended for the period of time occupied by such arbitration commencing with the notice to arbitrate and concluding with the publication of the award.
Appears in 2 contracts
Sources: Sale and Purchase Agreement (Seanergy Maritime Holdings Corp.), Sale and Purchase Agreement (Seanergy Maritime Holdings Corp.)
Alteration of Delivery Date. In the event of arbitration of any dispute arising from any matters occurring prior to delivery of the VESSEL EQUIPMENTVESSEL, all delays in delivery of the VESSEL EQUIPMENT due to such arbitration shall be deemed to be permissible delays as specified in Paragraph 1 of Article VIII of this Contract and the delivery date Delivery Date shall be automatically postponed and/or extended for the period of time occupied by such arbitration commencing with the notice to arbitrate and concluding with the publication of the award. The notice mentioned in Paragraph 2 of Article VIII of this Contract shall not required to be given.
Appears in 1 contract
Sources: Shipbuilding Contract (Tsakos Energy Navigation LTD)