Changes in rules, regulations and requirements Sample Clauses

Changes in rules, regulations and requirements. If, after the Date of Contract, there are any changes in the rules, regulations or requirements of the Classification Society or the Regulatory Bodies, whether by way of formal change or official change in application, the following shall apply: (a) The BUILDER shall as soon as possible notify the BUYER thereof, and the BUILDER shall be obliged - except as otherwise agreed - to carry out the required changes in accordance with the provisions set out below, without giving to the BUILDER a right to claim any adjustments of the price, delivery date or other contract terms, provided always that such changes in rules, regulations or requirements shall have been adopted and published on or before the Date of Contract and apply mandatory to the VESSEL on or before the Contract Delivery Date. (b) Save as provided for in (a) above, if such change is or will be compulsory for the VESSEL at the Delivery Date, the BUILDER shall incorporate such alteration or change into the construction of the VESSEL, unless otherwise instructed by the BUYER. The Parties shall endeavour to agree on such adjustments to the Contract as set out in Clause 1 above, failing which, the changes to the Contract shall be decided by arbitration in accordance with Article XIX. (c) If such change is not or will not be compulsory for the VESSEL, but the BUYER nevertheless desires to incorporate such change, this shall be considered a change or modification, as provided for in Clause 1 of this Article V.
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