Common use of DEADWEIGHT BELOW CONTRACT REQUIREMENTS Clause in Contracts

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.

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 two per cent (2%) 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 two per cent (2%) (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 Eight Hundred (US$1,500800) 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 tonsthree per cent (3%), 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.

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 five hundred (500) metric tons or less (disregarding fractions of one (1) metric ton of the guaranteed deadweight, there shall be no change in CONTRACT PRICE. However, should there be a deficiency of more than 2,000 five hundred (500) metric tons (disregarding fractions of less than One one (1) metric ton) ), the CONTRACT PRICE shall be reduced by the sum of United States Dollars One Thousand Five Nine Hundred (US$1,500US$ 900) for every One one (1) metric ton deficiency (disregarding fractions of less than One one (1) metric ton). (c) In the event of such deficiency in the deadweight of the VESSEL being more than 3,000 one thousand (1,000) metric tons, the BUYER may at its option, reject the VESSEL and cancel the CONTRACT Contract or accept the VESSEL at a reduction in the CONTRACT PRICE to be mutually agreed upon.