Export License. If required, the BUILDER shall be obligated to secure export license(s) for the VESSEL and shall exercise its best efforts to secure prompt issuance of any such export license(s) as well as any other required governmental approvals or authorizations required for removal of the VESSEL from the country of construction, including the territorial waters thereof. In the event BUILDER has not secured any required export license(s) for the VESSEL within thirty (30) calendar days of the Effective Date of this Contract, as defined in Article XXIII, then BUILDER shall be deemed to be in default under Article XIV and BUYER may elect, at any time thereafter, to cancel this Contract as provided in Article XI.
Appears in 3 contracts
Sources: Contract for the Construction and Sale of a Jack Up Drilling Unit (Santa Fe International Corp/), Contract for the Construction and Sale of a Semi Submersible Drilling Unit (Santa Fe International Corp/), Contract for the Construction and Sale of a Semi Submersible Drilling Unit (Santa Fe International Corp/)