Common use of Deadweight Clause in Contracts

Deadweight. (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 Two Thousand (2,000) 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 Two Thousand (2,000) metric tons below the guaranteed deadweight at the ▇▇▇▇▇▇▇▇▇ draft, the Contract Price shall be reduced by the sum of United States Dollars One Thousand Four Hundred only (USD1,400) for each full metric ton of such deficiency in excess of Two Thousand (2,000) metric tons (but disregarding fractions of a ton) up to a maximum deficiency of Five Thousand (5,000) metric tons. (c) If the deficiency in the actual deadweight of Vessel is more than Five Thousand (5,000) metric tons below the guaranteed deadweight at the ▇▇▇▇▇▇▇▇▇ 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 Four Million Two Hundred Thousand only (USD4,200,000.-).

Deadweight. (a) The Contract Price shall not be affected or changed by reason of a the actual deadweight tonnage determined as provided for in the Specifications being below the deadweight tonnage specified and required under Paragraph 3(c) of Article I of this Contract (hereinafter called the “Guaranteed Deadweight”), if such deficiency in the actual deadweight of the Vessel, being tonnage is not more than Two Thousand one thousand (2,0001,000) metric tons below the guaranteed deadweight at the ▇▇▇▇▇▇▇▇▇ draft in the conditions as set out in the Specificationstons. (b) If In the deficiency in event that the actual deadweight of the Vessel exceeds Two Thousand (2,000) metric tons below VESSEL as determined in accordance with the Specifications is less than the guaranteed deadweight at of the ▇▇▇▇▇▇▇▇▇ draftVESSEL, the Contract Price shall be reduced by the sum of United States Dollars One Thousand Four Hundred only one thousand (USD1,400US$1,000.-) for each full metric ton of such deficiency in excess of Two Thousand being more than one thousand (2,0001,000) metric tons tons, up to a maximum reduction of United States Dollars one million five hundred (U.S.$1,500,000.-) but disregarding fractions of a ton) up to a maximum deficiency of Five Thousand one (5,0001) metric tonston. (c) If In the event of such deficiency in the actual deadweight of Vessel is more than Five Thousand the VESSEL being two thousand five hundred (5,0002,500) metric tons below or more, then the guaranteed deadweight at the ▇▇▇▇▇▇▇▇▇ draft, then, Buyer BUYER may, at its option, reject the Vessel in accordance with Article VI.4 VESSEL and terminate rescind this Contract in accordance with the provisions of Article XX hereof, or may accept the Vessel with VESSEL at a total reduction in the Contract Price as above provided for metric tons only, that is, at a total reduction of United States Dollars Four Million Two Hundred Thousand only one million five hundred (USD4,200,000.-US$1,500,000.-).