Common use of Final Instalment Clause in Contracts

Final Instalment. The sum of United States Dollars Two Hundred and Seven Million and Six Hundred Thousand (US$207,600,000), equivalent to 60% of the Contract Price shall be paid upon Delivery of the Vessel. All payments of instalments to be made by the OWNERS shall be made promptly upon the presentation of the Builder’s invoices and in full and without any set off, abatement, counterclaim, withholding or deduction. Builder acknowledges that as of the date of Amendment No. 1, Owners have paid the First Instalment in full. Payment for Variation Orders shall be negotiated and agreed through a Change Order Process.”

Final Instalment. The sum of United States Dollars Two One Hundred and Seven Thirty Eight Million and Six Four Hundred Thousand (US$207,600,000138,400,000), equivalent to 6040% of the Contract Price shall be paid upon Delivery of the Vessel. All payments of instalments to be made by the OWNERS Owners shall be made promptly upon the presentation of the Builder’s invoices and in full and without any set off, abatement, counterclaim, withholding or deduction. Builder acknowledges that as of the date of Amendment No. 1, Owners have paid the First Instalment in full. Payment for Variation Orders shall be negotiated and agreed through a Change Order Process.”