3rd Instalment. The sum of United States Dollars seven million (US$ 7,000,000), shall become due and payable and be paid within five (5) New York business days of the receipt by the BUYER of a telefax notice from the SELLER attaching a Stage Certificate in the form of the draft attached as Exhibit “D”, countersigned by the Classification Surveyor, certifying that the VESSEL’s keel has been laid within the meaning of this Article 2.3.
3rd Instalment. The BUYER shall remit the amount of this instalment in accordance with the Article II, Paragraph 3(c) by telegraphic transfer to the account of the SELLER’s bank (the account number to be nominated by the SELLER) or through other receiving bank to be nominated by the SELLER from time to time and such nomination shall be notified to the BUYER at least ten (10) New York business days prior to the due date for the payment.
3rd Instalment. The sum of United States Dollars Two Million Eight Hundred Thousand Only (USD2,800,000.00 only), representing ten percent (10%) of the Original Contract Price, shall become due and payable after the keel of the VESSEL is laid in the SELLER's Shipyard, but not earlier than six (6) months before the Contract Delivery Date. Payment shall be made by the BUYER within five (5) banking days after the receipt by the BUYER of the original of the invoice issued by the SELLER for the amount of the instalment and the original certificate of the Classification Society attesting that the keel of the VESSEL is laid in the SELLER's Shipyard;
3rd Instalment. The sum of NOK shall be paid to the BUILDER latest within three (3) Banking days after the BUYER’s receipt of notice from the BUILDER confirming that the hull is ready for towing from the hull subcontractor. However no later than 09th of May 2014.
3rd Instalment. The sum of United States Dollars shall be paid within five (5) banking days from the date of receipt by the BUYER of a notice from the BUILDER together with a statement issued by the Classification Society confirming that the keel laying of the VESSEL has been made.
3rd Instalment. The BUILDER shall give a notice to the BUYER about expected date of keel laying of the VESSEL at least seven (7) banking days prior to the scheduled keel laying date. Upon receipt of telefax or e-mail notice for the BUILDER together with the statement from the Classification Society confirming that “Keel Laying” for the VESSEL has been made, the BUYER shall remit within Five (5) banking days the amount of this instalment by telegraphic transfer to the BANK for the account of the BUILDER with remarks of “Hull ”.
3rd Instalment. The sum of United States Dollars Three Million Four Hundred and Fifty Five Thousand only (U.S.$3,455,000.-) shall be paid within five (5) banking days after keel laying of the VESSEL in accordance with Clause 5(c) of this Article.
3rd Instalment. The BUILDER shall give a notice to the BUYER about expected date of the keel laying of the VESSEL at least fifteen (15) days prior to the scheduled keel laying date. Upon completion of the keel laying of the VESSEL, the BUILDER shall provide the BUYER with a notice together with a witness statement signed by the Classification Society, advising that the BUILDER has completed the keel laying of the VESSEL. Within five (5) banking days after the keel laying of the VESSEL, the BUYER shall remit the amount of this Instalment by telegraphic transfer to the BUILDER’s bank for the account of the BUILDER.
3rd Instalment. The sum of United States Dollars Sixteen Million Only (US$16,000,000.00) representing twenty percent (20%) of the Contract Price shall be paid within five (5) banking days after receipt by the BUYER of a Stage Certificate signed by the BUILDER, the BUYER’s REPRESENTATIVE and the Classification Society Surveyor in the form set out in Exhibit C hereto certifying that laying of the first block of the keel of the VESSEL has taken place always provided that this instalment shall not become due and payable earlier than tweleve (12) months before the Delivery Date and and Buyer’s receipt of the original Refund Guarantee covering the refund of the third instalment in the form of hereto attached as Exhibit A whichever is later.
3rd Instalment. The BUILDER shall by written notice by facsimile notify the BUYER at least seven (7) banking days prior to the scheduled keel-laying date. On or before the Due Date for payment of the 3rd Instalment, the BUYER shall remit the amount of this instalment by telegraphic transfer to the BANK for the account of the BUILDER quoting the reference “Hull H1074”.
