DEADWEIGHT BELOW CONTRACT REQUIREMENTS Clause Samples

DEADWEIGHT BELOW CONTRACT REQUIREMENTS. (a) The CONTRACT PRICE of the VESSEL shall not be affected or changed, if actual deadweight, determined as provided in this CONTRACT and the SPECIFICATIONS, is below the deadweight of 299,910 metric tons on the moulded ▇▇▇▇▇▇▇▇▇ draft of 21.6 metres required by this CONTRACT and the SPECIFICATIONS by an amount of 3,000 metric tons or less. (b) However, should the deficiency in the actual deadweight of the VESSEL be more than 3,000 metric tons below the said required deadweight, then the CONTRACT PRICE of the VESSEL shall be reduced for each full one (1) metric ton, (with fractions of less than one (1) metric ton being disregarded) of decreased deadweight in excess of 3,000 metric tons by the sum of U.S. Dollars Four Hundred and Fifty (US$ 450) per metric ton. However, unless the parties agree otherwise, total amount of deduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of 5,800 metric tons below the said required deadweight hereinabove. (c) If the deficiency in the deadweight of the VESSEL is more than 5,800 metric tons below the said required deadweight, then the BUYER, at its option, may, subject to the BUILDER's right to effect alterations or corrections without the BUYER's prior consent as specified in Article VI.5. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for 5,800 metric tons of deficiency only.
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DEADWEIGHT BELOW CONTRACT REQUIREMENTS. (a) The CONTRACT PRICE of the VESSEL shall not be affected or changed, if the actual deadweight determined as provided in this CONTRACT and the SPECIFICATIONS, is below the guaranteed deadweight as defined in Article I paragraph 2 hereof by one point five percent (1.5%) of the guaranteed deadweight or less. (b) However, should the deficiency in the actual deadweight of the VESSEL be more than XXXX of the guaranteed deadweight (disregarding fractions of less than one (1) metric ton), the CONTRACT PRICE shall be reduced by the sum of U.S. Dollars Seven Hundred (US$700) for each one (1) metric deficiency (disregarding fractions of less than one (1) metric ton) in excess of the said one point five percent (1.5%) of deficiency. (c) In the event of such deficiency in the deadweight of the VESSEL being more than three percent (3%) of the guaranteed deadweight, the BUYER, at its option, may, subject to the BUILDER’s right to effect alterations or corrections as specified in Article VI. 5. hereof, cancel this CONTRACT or accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for three percent (3%) only.
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DEADWEIGHT BELOW CONTRACT REQUIREMENTS. (a) The guaranteed deadweight shall be deadweight as defined in Article I paragraph 2 hereof. (b) In the event that deficiency of the actual deadweight certified by the CLASSIFICATION SOCIETY as determined in accordance with the SPECIFICATION is not more than 2,000 metric tons or less of the guaranteed deadweight, there shall be no change in CONTRACT PRICE. However, should there be a deficiency of more than 2,000 metric tons (disregarding fractions of less than One (1) metric ton) the CONTRACT PRICE shall be reduced by the sum of United States Dollars One Thousand Five Hundred (US$1,500) for every One (1) metric ton deficiency (disregarding fractions of less than One (1) metric ton). (c) In the event of such deficiency in the deadweight of the VESSEL being more than 3,000 metric tons, the BUYER may at its option, reject the VESSEL and cancel the CONTRACT or accept the VESSEL at a reduction in the CONTRACT PRICE to be mutually agreed upon.
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DEADWEIGHT BELOW CONTRACT REQUIREMENTS. (i) The Contract Price of the Vessel shall not be affected or changed, if actual deadweight tonnage determined as provided in this Contract Article 1 (c) and the Specifications, is below the deadweight tonnage of 50,000 metric tons on ▇▇▇▇▇▇▇▇▇ moulded draft of 13.06 meters as required by this Contract and the Specification or above the same by an amount of 500 metric tons or less. However, should the actual deadweight tonnage of the Vessel be more than 500 metric tons below the said required deadweight tonnage, then the Contract Price of the Vessel shall be reduced for each full one metric ton (fractions of one metric ton shall be disregarded) of decreased deadweight in excess of 500 metric tons by the sum of US$900 per metric ton. (ii) If the deficiency in the deadweight tonnage of the Vessel is more than 1,000 metric tons below the said required deadweight tonnage, then the Buyer, at his option, may, subject to the Builder’s rights to effect alterations or corrections as specified in Article 6 (e) hereof, cancel this Contract or may accept the Vessel with a maximum reduction in the Contract Price at the rate given above.
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DEADWEIGHT BELOW CONTRACT REQUIREMENTS. (a) The CONTRACT PRICE of the VESSEL shall not be affected or changed if the actual deadweight determined as provided in this CONTRACT and the SPECIFICATIONS is below the Guaranteed Deadweight by an amount of one thousand four hundred metric tons (1,400m.t.) or less. However, should the deficiency in the actual deadweight of the VESSEL be more than one thousand four hundred metric tons (1,400m.t.) below the Guaranteed Deadweight, then the CONTRACT PRICE of the VESSEL shall be reduced for each full one (1) metric ton (fractions of less than one (1) metric ton shall be disregarded) of decreased deadweight in excess of one thousand four hundred metric tons (1,400m.t.) by the sum of U.S.Dollars One Thousand (US$1,000) per metric ton. However, unless the parties agree otherwise, the total amount of deduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of two thousand six hundred metric tons (2,600m.t.) below the Guaranteed Deadweight hereinabove. (b) If the deficiency in the deadweight of the VESSEL is more than two thousand six hundred metric tons (2,600m.t.) below the Guaranteed Deadweight, then the BUYER, at its option, either cancel this CONTRACT or accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for one thousand two hundred metric tons (1,200m.t.) of deficiency only.
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DEADWEIGHT BELOW CONTRACT REQUIREMENTS. (a) The Contract Price shall not be affected or changed by reason of a deficiency in the actual deadweight of the Vessel, being not more than 180,000 metric tons below the guaranteed deadweight at the ▇▇▇▇▇▇▇▇▇ draft in the conditions as set out in the Specifications. (b) If the deficiency in the actual deadweight of the Vessel exceeds 2,000 metric tons below the guaranteed deadweight at the design draft, the Contract Price shall be reduced by the sum of United States Dollars (USD ) for each full metric ton of such deficiency in excess of 2,000 metric tons (but disregarding fractions of a ton) up to a maximum deficiency of 4,000 metric tons. (c) if the deficiency in the actual deadweight of Vessel is more than 4,000 metric tons below the guaranteed deadweight at the design draft, then, Buyer may, at its option, reject the Vessel in accordance with Article VI.4 and terminate this Contract in accordance with the provisions of Article X, or accept the Vessel with a total reduction in the Contract Price of United States Dollars (USD ).
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DEADWEIGHT BELOW CONTRACT REQUIREMENTS. (a) The CONTRACT PRICE shall not be affected or changed, if the actual deadweight tonnage of the VESSEL is less than 370 metric tons, below the deadweight tonnage of 37,000 metric tons on the moulded ▇▇▇▇▇▇▇▇▇ draft of 10.5 meters required by this CONTRACT and the SPECIFICATIONS (the “Guaranteed Deadweight”). (b) In the event that the deficiency in the actual deadweight tonnage of the VESSEL is 370 metric tons or more below the Guaranteed Deadweight, then the CONTRACT PRICE of the VESSEL shall be reduced by the amount of [ ] for each full one (1) metric ton of deficiency in deadweight in excess of 370 metric tons. (c) However, unless the parties agree otherwise, the total amount of deduction from the CONTRACT PRICE shall not exceed the amount due to cover a deficiency of 740 metric tons below the Guaranteed Deadweight. (d) In the event that there should be a deficiency in the VESSEL’s actual deadweight tonnage of more than 740 metric tons below the Guaranteed Deadweight, the BUYER, at its option, may, subject to the BUILDER’s right to effect alterations or corrections as specified in Article VI hereof, rescind this CONTRACT in accordance with the provisions of Article X (Rejection and Rescission by the Buyer) of this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as provided for above.
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Related to DEADWEIGHT BELOW CONTRACT REQUIREMENTS

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