Changes in the Contract. Notwithstanding anything to the contrary contained in the Contract, the Contract shall not be amended or modified except in writing duly signed by the Builder and Shipowner with the Secretary's prior written consent, provided that with respect to changes made or contracted for after the Closing Date the Secretary's prior written consent shall not be necessary, but prior written notice to the Secretary shall be given, for (a)any mandatory changes to the Contract as a result of any requirements of any government agency classification society, or (b) any non-mandatory changes that Builder and Shipowner desire to make which do not exceed, with respect to any item of the Vessel's construction, one (1%) percent of the Vessel's Contract Price and which do not, in the aggregate, cause the Vessel's Contract Price to be increased more than five (5%) percent or the delivery and completion date of the Vessel to be extended more than ten (10) days. Notwithstanding the foregoing, Shipowner shall not present or propose to Builder any change in the general dimensions and/or characteristics of the Vessel which would diminish the capacity of the Vessel to perform as originally intended by the Contract, without the Secretary's prior written consent. Payment procedures for all changes pursued and accomplished in accordance with this paragraph shall be governed by the provisions of paragraph 3(d) and no payment for any change requiring prior written approval from the Secretary shall be made with proceeds under the Credit Agreement until such prior written consent shall have been received.
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Sources: Platform Construction Agreement (Chiles Offshore Inc/New/)
Changes in the Contract. Notwithstanding anything to the contrary contained in the Contract, the Contract shall not be amended or modified except in writing duly signed by the Builder and Shipowner with the Secretary's prior written consent, provided that with respect to changes made or contracted for after the Closing Date the Secretary's prior written consent shall not be necessary, but prior written notice to the Secretary shall be given, for (a)any a) any mandatory changes to the Contract as a result of any requirements of any government agency or classification society, or (b) any non-mandatory changes that Builder and Shipowner desire to make which do not exceed, with respect to any item of the Vessel's construction, one (1%) percent of the Vessel's Contract Price and which do not, in the aggregate, cause the Vessel's Contract Price to be increased more than five (5%) percent or the delivery and completion date of the Vessel to be extended more than ten (10) days. Notwithstanding the foregoing, Shipowner shall not present or propose to Builder any change in the general dimensions and/or characteristics of the Vessel which would diminish the capacity of the Vessel to perform as originally intended by the Contract, without the Secretary's prior written consent. Payment procedures for all changes pursued and accomplished in accordance with this paragraph shall be governed by the provisions of paragraph 3(d) and no payment for any change requiring prior written approval from the Secretary shall be made with proceeds under the Credit Agreement until such prior written consent shall have been received.
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