Common use of REPLACEMENT OF SUPERVISOR Clause in Contracts

REPLACEMENT OF SUPERVISOR. The SELLER has the right to request the BUYER in writing to replace any Supervisor who is deemed unsuitable and unsatisfactory for the proper progress of the VESSEL’s construction together with reasons. The BUYER shall investigate the situation by sending its representative to the SELLER’s yard, if necessary, and if the BUYER considers that such SELLER’s request is justified, the BUYER shall effect the replacement at the BUYER’s earliest convenience. Date: 13th November, 2013 ARTICLE V MODIFICATIONS, CHANGES AND EXTRAS 1. HOW EFFECTED The Specifications and drawings in accordance with which the VESSEL is constructed, may be modified and/or changed at any time hereafter by written agreement of the parties hereto, provided that such modifications and/or changes or an accumulation thereof will not, in the SELLER's reasonable judgement, taking into account the current status of the construction of the VESSEL, adversely affect the SELLER's other commitments and provided further that the BUYER shall assent to adjustment of the Original Contract Price, time of delivery of the VESSEL and other terms of this Contract, if any, as hereinafter provided. Subject to the above, the SELLER hereby agrees to exert its best efforts to accommodate such reasonable requests by the BUYER so that the said changes and/or modifications may be made at a reasonable cost and within the shortest period of time which is reasonable and possible. Any such agreement for modifications and/or changes shall include an agreement as to the increase or decrease, if any, in the Original Contract Price of the VESSEL together with an agreement as to any extension or reduction in the time of delivery, or any other alterations in this Contract or the Specifications, which may be occasioned by such modifications and/or changes. The aforementioned agreement to modify and/or to change the Specifications may be effected by an exchange of duly confirmed letters or telefax manifesting such agreement. The letters and telefaxes exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment of the Specifications under which the VESSEL shall be built, and such letters and telefaxes shall be deemed to be incorporated into this Contract and the Specifications by reference and made a part hereof. Upon consummation of the agreement to modify and/or to change the Specifications, the SELLER shall alter the construction of the VESSEL in accordance therewith, including any additions to, or deductions from, the work to be performed in connection with such construction. If for whatever reason, the parties hereto shall fail to agree on the adjustment of the Original Contract Price or extension of time of delivery or modification of any terms of this Contract which are necessitated by such modifications and/or changes, then the SELLER shall have no obligation to comply with the BUYER's request for any modification and/or changes.

REPLACEMENT OF SUPERVISOR. The SELLER has the right to request the BUYER in writing to replace any of the Supervisor who is deemed unsuitable and unsatisfactory for the proper progress of the VESSEL’s ’S construction together with reasons. The BUYER shall investigate the situation by sending its representative to the SELLER’s yard, SHIPYARD if necessary, and if the BUYER considers that such SELLER’s ’S request is justified, the BUYER shall effect the replacement at the BUYER’s earliest convenienceas soon as conveniently arrangeable. DateSHIPBUILDING CONTRACT HULL NO.: 13th November, 2013 ARTICLE V MODIFICATIONS, CHANGES AND EXTRASYZJ2024-1624 1. HOW EFFECTED The Specifications and drawings Plans in accordance with which the VESSEL is constructed, may not be modified and/or changed at any time hereafter by written agreement time: (1) No modification to the construction of the parties heretoVESSEL and/or the Specifications and/or plans and/or drawings shall be required or demanded by the BUYER. (2) If there is any modification to the construction and/or plans and/or drawings and/or Specifications as required by the buyer of the Reference Vessel and there is any adjustment of any terms of the Contract for the Reference Vessel, provided that such modifications adjustment/modification shall be correspondingly and automatically applied to the VESSEL. 2. CHANGES IN RULES AND REGULATIONS, ETC. (1) If, after the date of signing this CONTRACT, any requirements as to the rules and regulations as specified in this CONTRACT and the SPECIFICATIONS to which the construction of the VESSEL is required to conform, are altered or changed by the Classification Society or the other regulatory bodies authorized to make such alterations or changes, the SELLER and/or changes the BUYER, upon receipt of the notice thereof, shall transmit such information in full to each other in writing, whereupon within ten (10) days after receipt of the said notice by the BUYER from the SELLER or an accumulation thereof will notvice versa, the BUYER shall instruct the SELLER in writing as to the alterations or changes, if any, to be made in the VESSEL which the BUYER, in the SELLER's reasonable judgementits sole discretion, taking into account the current status of shall decide. The SELLER shall promptly comply with such alterations or changes, if any in the construction of the VESSEL, adversely affect the SELLER's other commitments and provided further that the BUYER shall assent first agree: (a) As to adjustment of the Original Contract Price, time of delivery of the VESSEL and other terms of this Contract, if any, as hereinafter provided. Subject to the above, the SELLER hereby agrees to exert its best efforts to accommodate such reasonable requests by the BUYER so that the said changes and/or modifications may be made at a reasonable cost and within the shortest period of time which is reasonable and possible. Any such agreement for modifications and/or changes shall include an agreement as to the any increase or decrease, if any, decrease in the Original Contract Price of the VESSEL together with an agreement as that is occasioned by the cost for such compliance; and/or (b) As to any extension or reduction in the time for delivery of deliverythe VESSEL that is necessary due to such compliance; and/or SHIPBUILDING CONTRACT HULL NO.: YZJ2024-1624 (c) As to any increase or decrease in the guaranteed figures of the VESSEL stipulated in Article I including but not limited to deadweight and speed of the VESSEL, if such compliance results in increase or decrease in any of the guaranteed figures in Article I; and/or (d) As to any other alterations in the terms of this Contract CONTRACT or of SPECIFICATIONS or both, if such compliance makes such alterations of the Specificationsterms necessary; and/or (e) If the price is to be increased, which may be occasioned by such modifications and/or changes. The aforementioned agreement then, in addition, as to modify and/or to change the Specifications may be effected by an exchange of duly confirmed letters or telefax manifesting such agreement. The letters and telefaxes exchanged by the parties hereto pursuant providing to the foregoing shall constitute an amendment of SELLER additional securities reasonably satisfactory to the Specifications under which the VESSEL shall be builtSELLER. (2) If, and such letters and telefaxes shall be deemed due to be incorporated into this Contract and the Specifications by reference and made a part hereof. Upon consummation of the agreement to modify and/or to change the Specifications, the SELLER shall alter the construction of the VESSEL in accordance therewith, including any additions to, or deductions from, the work to be performed in connection with such construction. If for whatever reasonreasons, the parties hereto shall fail to agree on the adjustment of the Original Contract Price or extension of the time of for delivery or modification increase or decrease of the guaranteed figures stipulated in Article I or providing additional security to the SELLER or any alteration of the terms of this Contract which CONTRACT, if any, provided that the alterations or changes are necessitated by such modifications and/or changesnot compulsory, then the SELLER shall have no obligation be entitled to proceed with the construction of the VESSEL in accordance with, and the BUYER shall continue to be bound by the terms of this CONTRACT and the SPECIFICATIONS without making any such alterations or changes. (3) If the alterations or changes are compulsorily required to be made, then, notwithstanding any dispute between the parties relating to the adjustment of the Contract Price and/or extension of the time for delivery and/or increase or decrease of the guaranteed figures stipulated in Article I and/or providing additional security to the SELLER and/or any alteration of the terms of this CONTRACT and/or any other respect, the SELLER shall promptly comply with such alterations or changes first. The Delivery Date shall be further extended for a period necessary for such compliance. The BUYER shall, in any event, bear the BUYER's request costs and expenses of such alterations or changes. Any dispute with regard to the adjustment of the Contract Price and/or the extension of Delivery Date and/or any other disputes shall be determined by arbitration in accordance with Article XIII of this CONTRACT. SHIPBUILDING CONTRACT HULL NO.: YZJ2024-1624 3. SUBSTITUTION OF MATERIALS AND/OR EQUIPMENT In the event that any of the materials and/or equipment required by the SPECIFICATIONS or otherwise under this CONTRACT for any modification the construction of the VESSEL cannot be procured in time to meet the SELLER’S construction schedule for the VESSEL, the SELLER may, provided the BUYER so agrees in writing, supply other materials and/or changesequipment of at least the equivalent quality, capable of meeting the requirements of the Classification Society and of the rules, regulations, requirements and recommendations with which the construction of the VESSEL must comply. Any agreement as to such substitution of materials shall be effected in the manner provided in Paragraph 1 of this Article.