Common use of Variable Load Capacity Clause in Contracts

Variable Load Capacity. 6.1. The Builders commitment to the lightship weight excluding the weight and centre of gravity of the Listed Items shall be 8,950 metric ton at a VCG of 21.43 m ( the "Required Lightship Weight" ). A detailed Light Weight Estimation and VCG Calculation justifying the Required Lightship Weight, shall be included as part of the "Basic Design" to be provided by the Purchaser. 6.2. The lightship weight and centre of gravity of the Vessel shall be verified by an Inclining Experiment prior to Delivery. 6.3. The results of the Inclining Experiment referred to in Clause 6.2 shall be used to demonstrate a Variable Load Capacity (Deck and Column) in the conditions referred to in the Specifications as a minimum of 3,500 metric tons in the operational condition 6.4. Builder shall pay liquidated damages to the Purchaser as follows if the lightship weight increases above the Required Lightship Weight. Excess from 1% to 2% USD 5,000 per ton Excess from 2% to 4% USD 7,500 per ton Excess 4% and above USD 10,000 per ton In any event the Builder's liability for the above liquidated damages shall be limited to 5% of the Construction Price. 6.5. The Purchaser shall pay to the Builder a bonus if the lightship weight is below the Required Lightship Weight on the same basis as the liquidated damages in 6.4 above but without the application of any grace. 6.6. The Purchaser shall have no obligation to accept delivery of the Vessel if the ship lightweight, as defined in 6.2 above, is more than 400 tonnes over the Required Lightship Weight. The Builder shall, however, in such context be entitled to make modifications to the Vessel in order to either reduce the weight or ensure that the VLC is restored to its original level provided that the same (i) are approved in advance by the Classification Society and the Purchaser, such approval not to be unreasonably withheld, (ii) do not significantly affect the motion characteristics or operational capability of the Vessel.

Variable Load Capacity. 6.1. The Builders commitment to the lightship weight excluding the weight and centre of gravity of the Listed Items shall be 8,950 metric ton at a VCG of 21.43 m ( the "Required Lightship Weight" ). A detailed Light Weight Estimation and VCG Calculation justifying the Required Lightship Weight, shall be included as part of the "Basic Design" to be provided by the Purchaser. 6.2. The lightship weight and centre of gravity of the Vessel shall be verified by an Inclining Experiment prior to Delivery. 6.3. The results of the Inclining Experiment referred to in Clause 6.2 shall be used to demonstrate a Variable Load Capacity (Deck and Column) in the conditions referred to in the Specifications as a minimum of 3,500 metric tons in the operational condition 6.4. Builder shall pay liquidated damages to the Purchaser as follows if the lightship weight increases above the Required Lightship Weight. Excess from 1% to 2% : USD 5,000 per ton Excess from 2% to 4% : USD 7,500 per ton Excess 4% and above : USD 10,000 per ton In any event the Builder's liability liability, for the above liquidated damages shall be limited to 5% of the Construction Price. 6.5. The Purchaser shall pay to the Builder a bonus if the lightship weight is below the Required Lightship Weight on the same basis as the liquidated damages in 6.4 above but without the application of any grace. 6.6. The Purchaser shall have no obligation to accept delivery of the Vessel if the ship lightweight, as defined in 6.2 above, is more than 400 tonnes over the Required Lightship Weight. The Builder shall, however, in such context be entitled to make modifications to the Vessel in order to either reduce the weight or ensure that the VLC is restored to its original level provided that the same (i) are approved in advance by the Classification Society and the Purchaser, such approval not to be unreasonably withheld, (ii) do not significantly affect the motion characteristics or operational capability of the Vessel.