Common use of Causes of Delay Clause in Contracts

Causes of Delay. If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; Acts of God or the public enemy, quarantines, plague or other epidemics; shortage or prolonged failure of electric current, freight embargoes, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or explosion; or delays in the BUILDER's other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1, which in turn delay the construction of the VESSEL or the BUILDER's performance under the CONTRACT; or other causes beyond the control of the BUILDER, or its sub-contractors, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, If at any time after signing this CONTRACTbefore the delivery of the Vessel, either the construction or delivery of the VESSEL Vessel or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any due to Acts of the following events, namely: war, God; acts of state princes or government, rulers; requirements of government authorities; war or other hostilities or preparations therefor; blockade, revolution, insurrections, mobilization, civil commotionwar, riots civil commotion or riots; vandalism; sabotage; strikes, lockouts or other labour disturbances happening generally in outside of the relevant location or industry sectorcontrol of the Builder; Acts of God or the public enemy, quarantines, plague or other epidemics; quarantines; flood, typhoons, hurricanes, storms or other abnormal weather conditions not included in normal planning; earthquakes; tidal waves; landslides; fires, lightning, explosions, collisions or strandings; embargoes; import restrictions; shortage of materials or equipment, or delay in delivery or inability to take delivery thereof (provided that such materials and equipment at the time of ordering could reasonably be expected by Builder to be delivered in time); prolonged failure, shortage or prolonged failure restriction of electric current, freight embargoes, oil or shortage of gas supplies; defects in materials, machinery or equipment or an inability which could not have been detected by Builder using reasonable care (provided same did not result from Builder’s failure to obtain delivery or take the reasonable and necessary measures to avoid any such delay); delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected caused by the BUILDER to be delivered in timeClassification Society or other bodies whose documents are required; earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; or destruction of or damage to the premises Shipyard or works of the BUILDER or its sub-contractorsBuilder, suppliers, or of or to the VESSEL, Vessel or any part thereof, by fire, landslides, flood, lightning or explosionany causes herein described; or delays in the BUILDER's Builder’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL Vessel or the BUILDER's Builder’s performance under this Contract; delays caused by any faulty action or omission on the CONTRACTpart of Buyer (but without prejudice to any other rights of Builder under this Contract); any causes or other causes accidents whatsoever beyond the control of Builder whether or not of the BUILDERnature indicated by the foregoing words; then and in any such case, or its sub-contractors, the Delivery Date shall be postponed for such period as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the period of time that the VESSEL Vessel is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSELthereby.

Causes of Delay. If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: namely war, acts of state or government, blockade, revolution, insurrections, mobilization, . civil commotion, riots or sabotage; riots, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; sabotage, lockouts, Acts of God or the public enemy, quarantines, plague or other epidemics; , quarantines, shortage or prolonged failure of electric current, freight embargoes, or defects in major forgings or castings, delays or defects in the BUYER’s supplies as stipulated in Article XII, if any, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; time or defects in materials, machinery or equipment which could not have been detected by the BUILDER using reasonable care or earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; conditions or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or lightning, explosion; , or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1, Article which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACT; , or delays caused by the CLASSIFICATION SOCIETY due to Force Majeure or the BUYER’s faulty action or omission, or other causes beyond the control of the BUILDER, or its sub-contractors, as the case may be, which are provided that such causes could not due to be foreseen at the negligence or default time of the BUILDER or its subcontractors using reasonable care; signing this CONTRACT, or for any other causes which, under the terms of this CONTRACT, authorise authorize and permit extension of the time for delivery of the VESSEL, then, then in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: ; namely war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; riots, general workers strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; sabotage, Acts of God or the public enemy, quarantines, plague or other epidemics; shortage or , quarantines, prolonged failure of electric current, freight embargoes, or shortage of defects in major forgings or castings, or delays in the BUYER’s supplies as stipulated in Article XII, if any, or or defects in materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same which could reasonably be expected not have been detected by the BUILDER to be delivered in time; using reasonable care or earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; conditions or by destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or explosion; or delays in the BUILDER's other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1lightning, which in turn delay the construction of the VESSEL explosion or the BUILDER's ’s performance under the CONTRACT; , or delays caused by the CLASSIFICATION SOCIETY or the BUYER’s faulty action or omission, or other causes beyond the control of the BUILDER, or its sub-contractors, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost shall have used reasonable efforts to minimise mitigate the delay in delivery duration and effects of such events of the VESSELconstruction schedule.

Causes of Delay. If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: namely war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; riots, strikes, lockouts sabotage, lockouts, or other labour disturbances happening generally in the relevant location or industry sector; disturbances, Acts of God or the public enemy, quarantines, plague or other epidemics; , quarantines, shortage or prolonged failure of electric current, freight embargoes, or defects in major forgings or castings, or delays or defects in the BUYER’S SUPPLIES as stipulated in Article XII, if any, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; time or defects in materials, machinery or equipment which could not have been detected by the BUILDER using seasonable care or earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; conditions or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or lightning, explosion; , or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1, Article which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACT; , or delays caused by the CLASSIFICATION SOCIETY or the BUYER’s faulty action or omission, or other causes beyond the control of the BUILDER, or its sub-contractors, contractors or suppliers as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise authorize and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the a period of time that the VESSEL is delayed time, which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise shall reasonably demonstrate that the cause of delay in delivery was not occasioned by the fault of the VESSELBUILDER and the BUILDER shall take all reasonable steps to mitigate its effect upon the construction of the XXXXXX.

Causes of Delay. If, at any time after signing this CONTRACTbefore the actual delivery of the VESSEL, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the of delivery thereof is delayed by any of the following eventsVESSEL is prevented or delayed as a consequence of extraordinary circumstances or events beyond the BUILDER’s control, namelyincluding but not limited to: war, Acts of God; acts of state princes or government, rulers; requirements of government authorities; war or other hostilities or preparations therefore; blockade, ; revolution, insurrections, mobilizationmobilisation, civil commotionwar, riots civil commotion or sabotageriots; vandalism, sabotages, national strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sectordisturbances; Acts of God or the public enemy, quarantines, plague or other epidemics, pandemics; shortage quarantines; flood, typhoons, hurricanes, storms or prolonged failure of electric currentother weather conditions not included in normal planning; earthquakes; volcanic eruption; tidal waves; landslides; fires, freight explosions, collisions or groundings; embargoes, or shortage of materials, machinery or equipment or an ; import restrictions; inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; earthquakes, tidal waves, typhoons, hurricanes, prolonged failure, shortage or unusually severe weather conditionsrestriction of electric current, oil or gas; defects in materials, machinery or equipment which could not have been detected by the BUILDER using reasonable care; casting or forging rejects or the like not due to negligence; delays caused by the Classification Society or other bodies whose documents are required; destruction of or damage to the premises Shipyard or works of the BUILDER BUILDER, its subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, VESSEL or any part thereof, by fire, landslides, flood, lightning or explosionany causes herein described; or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACTthis Contract; or other causes or and/or: any extraordinary events beyond the control of the BUILDER, or its sub-contractors, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for and/or: by delivery of Subcontractors where the VESSELcause of delay would have been recognised as a Force Majeure event or event beyond the control under this Article IX if it has affected the BUILDER, then, then and in the event of delays due to the happening of any of the aforementioned contingenciessuch case, the DELIVERY DATE of the VESSEL under this CONTRACT Delivery Date shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed equivalent to the total accumulated time of lost by all such delays. Provided always: The BUILDER shall, however, always is obliged to do his its utmost to avoid or minimise the delay in delivery of the VESSELForce Majeure Delay.

Causes of Delay. If, at any time after signing this CONTRACTbefore the actual delivery, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to of delivery of the delivery thereof VESSEL is delayed by any due to: Acts of the following events, namely: war, God; acts of state princes or government, rulers; requirements of government authorities; war or other hostilities or preparation therefore; blockade, ; revolution, insurrections, mobilization, civil commotionwar, riots civil commotion or sabotageriots; vandalism; sabotages, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sectorlabor disturbances; Acts of God or the public enemy, quarantines, labor shortage; plague or other epidemics; shortage quarantines; flood, typhoons, hurricanes, storms or prolonged other weather conditions not included in normal planning; earthquakes; tidal waves; fires, explosions, collisions or stranding; embargoes; delays or failure of electric current, freight embargoes, or in transportation; shortage of materials, machinery or equipment or an equipment; import restrictions; inability to obtain delivery or delays in delivery of materialsmaterials subject that same have been ordered in time subject that same have been ordered in time, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the SELLERS and/or the BUILDER to be delivered in time; earthquakesprolonged failure, tidal wavesshortage or restriction of electric current, typhoonsoil or gas; defects in materials, hurricanes, prolonged machinery or unusually severe weather conditionsequipment which could not have been detected by the SELLERS using reasonable care; casting or forging rejects or the like not due to negligence; delays caused by the Classification Society or other bodies whose documents are required; destruction of or damage to the premises Shipyard or works of the BUILDER BUILDER, its subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, VESSEL or any part thereof, by fire, landslides, flood, lightning or explosionany cause herein described; or delays in the SELLERS’ and/or the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under Shipbuilding Contract and the CONTRACTSELLERS’ performance under this Contract; or other causes or accidents beyond the control of the BUILDERBUILDER and/or the SELLERS, its subcontractors or its sub-contractors, as the case may be, which are not due to the negligence or default suppliers of the BUILDER nature whether or its subcontractors using reasonable carenot indicated by the forgoing words; all the forgoing irrespective of whether or for not these events could be foreseen at the days of signing this Contract; then and in any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingenciessuch case, the DELIVERY DATE of the VESSEL under this CONTRACT Delivery Date shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: namely war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; riots, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; sabotage, lockouts, Acts of God or the public enemy, quarantines, plague or other epidemics; , quarantines, shortage or prolonged failure of electric current, freight embargoes, or defects in major forgings or castings, delays or defects in the BUYER’s supplies as stipulated in Article XII, if any, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; time or defects in materials, machinery or equipment which could not have been detected by the BUILDER using reasonable care or earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; conditions or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or lightning, explosion; , or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1, Article which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACT; , or delays caused by the CLASSIFICATION SOCIETY due to Force Majeure or the BUYER’s faulty action or omission, or other causes beyond the control of the BUILDER, or its sub-contractors, as the case may be, which are provided that such causes could not due to be foreseen at the negligence or default time of the BUILDER or its subcontractors using reasonable care; signing this CONTRACT, or for any other causes which, under the terms of this CONTRACT, authorise authorize and permit extension of the time for delivery of the VESSEL, then, then in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, at any time after signing this CONTRACTbefore actual delivery of the VESSEL, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to delivery of the delivery thereof VESSEL is delayed by any due to Acts of the following events, namely: war, God; acts of state princes or government, blockade, rulers; requirements of government authorities; war or other hostilities or preparations therefor; revolution, insurrectionssabotages, mobilization, civil commotion, riots or sabotage; general strikes, general lockouts or other labour disturbances happening generally in the relevant location or industry sectorgeneral labor disturbances; Acts of God or the public enemyfloods, quarantinestyphoons, plague hurricanes, tornadoes, windstorms, lightning or other epidemics; shortage or prolonged failure of electric current, freight embargoes, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that abnormal weather conditions which prevent work for at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in timeleast three (3) consecutive days; earthquakes, tidal waves, typhoonsexplosions, hurricanescollisions or strandings, prolonged embargoes, import restrictions, defects in materials, machinery or unusually severe weather conditionsequipment which could not have been detected by the BUILDER using reasonable care (provided same did not result from the BUILDER's failure to take the reasonably necessary measures to avoid any such delay); casting or forging rejects or the like not due to negligence; unusual delays caused by the Classification Society or other bodies whose documents are required (provided same did not result from BUILDER's failure to take the reasonably necessary measures to avoid any such delay); destruction of or damage to the premises Shipyard or works of the BUILDER BUILDER, its contractors, subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, VESSEL or any part thereof, by fire, landslides, flood, lightning or explosion; or delays in the BUILDER's other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn necessarily and actually delay the construction of the VESSEL or the BUILDER's performance under this Contract, and which could not have been prevented by the CONTRACT; or other causes beyond exercise of reasonable diligence on the control part of the BUILDER, or its sub-contractors, as the case may besubcontractors or suppliers; then and in any such case, which are not due subject to the negligence or default provisions of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingenciesParagraph 2 below, the DELIVERY DATE of date by which the VESSEL BUYER may either cancel this Contract under this CONTRACT Article III, Paragraph 1(b) or impose liquidated damages under Article III, Paragraph 1(c), shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shalldelay, howeverprovided in no event shall local strikes or labor disturbances involving BUILDER's or its contractors' or subcontractors' employees, always do his utmost to minimise the delay in delivery acts or defaults of the VESSELBUILDER's contractors, subcontractors or suppliers or breach of BUILDER's, its contractors', subcontractors', or suppliers' warranties or guarantees be considered as an allowable delay.

Causes of Delay. If, at any time after signing this CONTRACTbefore the actual delivery of the VESSEL, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the of delivery thereof is delayed by any of the following eventsVESSEL is prevented or delayed as a consequence of extraordinary circumstances or events beyond the BUILDER’s control, namelyincluding but not limited to: war, Acts of God; acts of state princes or government, rulers; requirements of government authorities; war or other hostilities or preparations therefore; blockade, ; revolution, insurrections, mobilizationmobilisation, civil commotionwar, riots civil commotion or sabotageriots; vandalism, sabotages, national strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sectordisturbances; Acts of God or the public enemy, quarantines, plague or other epidemics, pandemics; shortage quarantines; flood, typhoons, hurricanes, storms or prolonged failure of electric currentother weather conditions not included in normal planning; earthquakes; volcanic eruption; tidal waves; landslides; fires, freight explosions, collisions or groundings; embargoes, or shortage of materials, machinery or equipment or an inability ; import restrictions; Inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; earthquakes, tidal waves, typhoons, hurricanes, prolonged failure, shortage or unusually severe weather conditionsrestriction of electric current, oil or gas; defects in materials, machinery or equipment which could not have been detected by the BUILDER using reasonable care; casting or forging rejects or the like not due to negligence; delays caused by the Classification Society or other bodies whose documents are required; destruction of or damage to the premises Shipyard or works of the BUILDER BUILDER, its subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, VESSEL or any part thereof, by fire, landslides, flood, lightning or explosionany causes herein described; or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACTthis Contract; or other causes or and/or: any extraordinary events beyond the control of the BUILDER, or its sub-contractors, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for and/or: by delivery of Subcontractors where the VESSELcause of delay would have been recognised as a Force Majeure event or event beyond the control under this Article IX if it has affected the BUILDER, then, then and in the event of delays due to the happening of any of the aforementioned contingenciessuch case, the DELIVERY DATE of the VESSEL under this CONTRACT Delivery Date shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed equivalent to the total accumulated time of lost by all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, at any time after signing this CONTRACTbefore the actual delivery, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to of delivery of the delivery thereof VESSEL is delayed by any due to Acts of the following events, namely: God; act of princes or rulers; requirements of government authorities; war, acts of state other hostilities or governmentpreparations thereof; blockade; revolution; insurrections; mobilization; civil war; civil commotion or riots; sabotages, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; strikes, lockouts lockout or other labour disturbances happening generally in the relevant location or industry sectordisturbances; Acts of God or the public enemy, quarantines, labor shortage; plague or other epidemics; shortage quarantines; flood, typhoons, hurricanes, storms or prolonged other weather conditions not included in normal planning; earthquakes; tidal waves; landslides; fires, explosions, collisions or strandings except the case caused by the gross negligence of people; embargoes; delays or failure of electric current, freight embargoes, or in transportation; shortage of materials, machinery or equipment or an equipment; import restrictions; inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; earthquakesprolonged failure, tidal wavesshortage or restriction of electric current, typhoonsoil or gas; defects in materials, hurricanes, prolonged machinery or unusually severe weather conditionsequipment which could not have been detected by the BUILDER using reasonable care; major casting or forging rejects or the like not due to negligence; delays caused by the Classification Society or other regulatory bodies whose documents are required; destruction of or damage to the premises SHIPYARD or works of the BUILDER BUILDER, its subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, VESSEL or any part thereof, by fire, landslides, flood, lightning or explosionany causes herein described; or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACTthis Contract; or other causes or accidents beyond the control of the BUILDER, its subcontractors or its sub-contractors, as the case may be, which are not due to the negligence or default supplies of the BUILDER nature whether or its subcontractors using reasonable carenot indicated by the foregoing words; all the foregoing irrespective of whether or for not these events could be foreseen at the day of signing this Contract; then and in any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingenciessuch case, the DELIVERY DATE of the VESSEL under this CONTRACT Delivery Date shall be extended postponed for the a period of time time, provided that the VESSEL is delayed which BUILDER shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost take immediate steps to minimise the overcome any delay in delivery of the VESSELby any means within its control.

Causes of Delay. If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: ; namely war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; riots, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; sabotage, lockouts, Acts of God or the public enemy, quarantines, plague or other epidemics; , quarantines, shortage or prolonged failure of electric current, freight embargoes, or defects in major forgings or castings which could not have been detected by the BUILDER using reasonable care, or delays or defects in the BUYER’S SUPPLIES as stipulated in Article XII, if any, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; , or defects in materials, machinery or equipment which could not have been detected by the BUILDER using reasonable care or earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; conditions or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or lightning, explosion; , or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1, Article which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACT; , or delays caused by the CLASSIFICATION SOCIETY or the BUYER’s faulty action or omission, or other causes beyond the reasonable control of the BUILDER, or its sub-contractors, as the case may be, provided all the foregoing events were not existing and known to the BUILDER at the date of this CONTRACT or the effect of which are could not have been avoided or reduced by the exercise of due to diligence by the BUILDER or his relevant subcontractors, as the case may be, and provided further that the events and/or delays were not caused or contributed by the negligence or default misconduct of the BUILDER in respect of labor relations or its subcontractors using reasonable carehis relevant sub-contractors, as the case may be; or for and provided further that any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery above events directly affect the construction schedule of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The Upon occurrence of the foregoing events, the BUILDER shall, however, always do his utmost shall take immediate steps to minimise overcome and mitigate the delay in delivery of the VESSELand to recover lost time, if any.

Causes of Delay. If(a) In case of Force Majeure Delay, at any the actual time after signing this CONTRACT, lost by all such delays shall be Permissible Delay. A Force Majeure Delay shall occur if either the construction or delivery of the VESSEL Vessel or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of Delivery and Acceptance of the following events, namelyVessel is prevented or delayed as a consequence of: war, Acts of God; acts of state princes and rulers; requirements of government authorities; war or governmentwarlike condition, blockade, revolution, insurrections, mobilizationmobilisation, civil commotioncommotion or riots, riots or mobilisation; sabotage; strikesstrike or lockout (except a strike, lockouts lockout or other local labour disturbances happening generally in at the relevant location or industry sector; Acts Builder’s yard and/or other facilities of God or the public enemy, quarantinesBuilder), plague or other epidemics, pandemics, quarantines; shortage flood, typhoons, hurricanes, storms or other extraordinary weather conditions not included in normal planning; earthquakes, volcanic eruptions, tidal waves, landslide; fires, explosions, collisions or stranding; embargoes; import or export bans or restrictions; prolonged failure of electric current, freight embargoesfailure, or shortage or restriction of materialselectrical current, machinery oil or equipment or an gas; and/or: any other extraordinary events beyond the control of the Builder; and/or: inability to obtain delivery or delays delay in delivery of materials, machinery or equipmentequipment by Subcontractor(s) where the cause of delay would have been recognised as Force Majeure Delay under this Article IX if it had affected the Builder, provided that the Builder has shown due diligence in its choice of Subcontractor, so that at the time of ordering the same it could reasonably be expected by the BUILDER Builder to be delivered in time; earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or explosion; or and/or: delays in the BUILDER's Builder’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes Force Majeure as herein described in this Paragraph 1, which in turn directly causing delay the construction of the VESSEL Builder’s performance hereunder; Provided always: that there shall be no Force Majeure Delay if such delay could reasonably have been foreseen or anticipated by the Builder (or the BUILDER's performance under Subcontractor, if applicable) on the CONTRACT; Date of Contract (or other causes beyond the control date of the BUILDERsubcontract, if applicable, or its sub-contractorsthat it could have been prevented or overcome by the exercise of due diligence by the Builder (or Subcontractor, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.if applicable);

Causes of Delay. If, at any time after signing this CONTRACTbefore the actual delivery, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to of delivery of the delivery thereof VESSEL is delayed by any due to Acts of the following events, namely: war, God; acts of state princes or government, rulers; requirement of government authorities; war or other hostilities or preparations therefore; blockade, ; revolution, insurrections, mobilization, civil commotionwar, riots civil commotion or sabotageriots; vandalism; sabotages, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sectorlabor disturbances; Acts of God or the public enemy, quarantines, plague or other epidemics; shortage quarantines; flood; typhoons, hurricanes, storms or prolonged failure of electric currentother weather conditions not included in normal planning; earthquakes; tidal waves; landslides; fires, freight explosions, collisions or strandings; embargoes; import restrictions, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in the time; earthquakesprolonged failure, tidal wavesshortage or restriction of electric current, typhoonsoil or gas; defects in materials, hurricanesmachinery or equipment which could not have been defected by the BUILDER using reasonable care; casting or foregoing rejects or the like not due to negligence, prolonged delays caused by the Classification Society or unusually severe weather conditionsother bodies whose documents are required; or destruction of or damage to the premises SHIPYARD or works of the BUILDER BUILDER, its subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, VESSEL or any part thereof, by fire, landslides, flood, lightning or explosionany causes herein described; or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACTthis Contract; or other causes or accidents beyond the control of the BUILDER, its subcontractors or its sub-contractors, as the case may be, which are not due to the negligence or default suppliers of the BUILDER or its subcontractors using reasonable carenature indicated by the foregoing words; or for then and in any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingenciessuch case, the DELIVERY DATE of the VESSEL under this CONTRACT Delivery Date shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: ; namely war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; riots, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; sabotage, lockouts, Acts of God or the public enemy, quarantines, plague or other epidemics; , quarantines, shortage or prolonged failure of electric current, freight embargoes, or defects in major forgings or castings which could not have been detected by the BUILDER using reasonable care, or delays or defects in the BUYER’S SUPPLIES as stipulated in Article XII, if any, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; , or defects in materials, machinery or equipment which could not have been detected by the BUILDER using reasonable care or earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; conditions or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or lightning, explosion; , or delays in the BUILDER's ’S other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1, Article which in turn delay the construction of the VESSEL or the BUILDER's ’S performance under the CONTRACT; , or delays caused by the CLASSIFICATION SOCIETY or the BUYER’S faulty action or omission, or other causes beyond the reasonable control of the BUILDER, or its sub-contractors, as the case may be, provided all the foregoing events were not existing and known to the BUILDER at the date of this CONTRACT or the effect of which are could not have been avoided or reduced by the exercise of due to diligence by the BUILDER or his relevant subcontractors, as the case may be, and provided further that the events and/or delays were not caused or contributed by the negligence or default misconduct of the BUILDER in respect of labor relations or its subcontractors using reasonable carehis relevant sub-contractors, as the case may be; or for and provided further that any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery above events directly affect the construction schedule of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The Upon occurrence of the foregoing events, the BUILDER shall, however, always do his utmost shall take immediate steps to minimise overcome and mitigate the delay in delivery of the VESSELand to recover lost time, if any.

Causes of Delay. If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: ; namely war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; riots, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; sabotage, lockouts, Acts of God or the public enemy, quarantines, plague or other epidemics; , quarantines, shortage or prolonged failure of electric currentcurrent supplied to the SHIPYARD by an external to the SHIPYARD source, freight embargoes, or defects in major forgings or castings, or delays or defects in the BUYER’S SUPPLIES as stipulated in Article XII, if any, or shortage of substitute materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; , or defects in materials, machinery or equipment which could not have been detected by the BUILDER using reasonable care, or earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; conditions or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or lightning, explosion; , or delays in the BUILDER's ’S other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1, Article which in turn delay the construction of the VESSEL or the BUILDER's ’S performance under the CONTRACT; , or delays caused by the CLASSIFICATION SOCIETY or the BUYER’S faulty action or omission, or other causes similar to the above, beyond the control of the BUILDER, or its sub-contractors, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, which under the terms of this CONTRACT, authorise authorize and permit extension of the time for delivery of the VESSEL, VESSEL provided that the event causing the relevant delay could not have been reasonably foreseen and avoided by the BUILDER; then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise events actually delaying the delay in delivery of the VESSEL, provided further that no postponement shall be granted under this CONTRACT if the event causing such delay has resulted from any negligence of the BUILDER or if such event was in existence as of the date of this CONTRACT.

Causes of Delay. If(a) In case of Force Majeure Delay, at any the actual time after signing this CONTRACT, lost by all such delays shall be Permissible Delay. A Force Majeure Delay shall occur if either the construction or delivery of the VESSEL Vessel or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of Delivery and Acceptance of the following events, namelyVessel is prevented or delayed as a consequence of: war, Acts of God; acts of state princes and rulers; requirements of government authorities; war or governmentwarlike condition, blockade, revolution, insurrections, mobilizationmobilisation, civil commotioncommotion or riots, riots or mobilisation; sabotage; strikesstrike or lockout (except a strike, lockouts lockout or other local labour disturbances happening generally in at the relevant location or industry sector; Acts Builder’s yard and/or other facilities of God or the public enemy, quarantinesBuilder), plague or other epidemics, pandemics, quarantines; shortage flood, typhoons, hurricanes, storms or other extraordinary weather conditions not included in normal planning; earthquakes, volcanic eruptions, tidal waves, landslide; fires, explosions, collisions or stranding; embargoes; import or export bans or restrictions; prolonged failure of electric current, freight embargoesfailure, or shortage or restriction of materialselectrical current, machinery oil or equipment or an gas; and/or: any other extraordinary events beyond the control of the Builder; and/or: inability to obtain delivery or delays delay in delivery of materials, machinery or equipmentequipment by Subcontractor(s) where the cause of delay would have been recognised as Force Majeure Delay under this Article IX if it had affected the Builder, provided that the Builder has shown due diligence in its choice of Subcontractor, so that at the time of ordering the same it could reasonably be expected by the BUILDER Builder to be delivered in time; earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or explosion; or and/or: delays in the BUILDER's Builder’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes Force Majeure as herein described in this Paragraph 1, which in turn directly causing delay the construction of the VESSEL Builder’s performance hereunder; Provided always: that there shall be no Force Majeure Delay if such delay could reasonably have been foreseen or anticipated by the Builder (or the BUILDER's performance under Subcontractor, if applicable) on the CONTRACT; Date of Contract (or other causes beyond the control date of the BUILDERsubcontract, if applicable, or its sub-contractorsthat it could have been prevented or overcome by the exercise of due diligence by the Builder (or Subcontractor, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable careif applicable); or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of that delays due to the happening of any insolvency or other financial difficulties of the aforementioned contingencies, Hull Subcontractor and/or the DELIVERY DATE of the VESSEL under this CONTRACT Superstructure Subcontractor shall be extended on no account constitute Force Majeure Delay for the period purposes of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSELthis Contract.

Causes of Delay. If, at any time after signing this CONTRACTbefore actual delivery of the VESSEL, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to delivery of the delivery thereof VESSEL is delayed by any due to Acts of the following events, namely: war, God; acts of state princes or government, blockade, rulers; requirements of government authorities; war or other hostilities or preparations therefor; revolution, insurrectionssabotages, mobilization, civil commotion, riots or sabotage; general strikes, general lockouts or other labour disturbances happening generally in the relevant location or industry sectorgeneral labor disturbances; Acts of God or the public enemyfloods, quarantinestyphoons, plague hurricanes, tornadoes, windstorms, lightning or other epidemics; shortage or prolonged failure of electric current, freight embargoes, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that abnormal weather conditions which prevent work for at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in timeleast three (3) consecutive days; earthquakes, tidal waves, typhoonsexplosions, hurricanescollisions or strandings, prolonged embargoes, import restrictions, defects in materials, machinery or unusually severe weather conditionsequipment which could not have been detected by the BUILDER using reasonable care (provided same did not result from the BUILDER's failure to take the reasonably necessary measures to avoid any such delay); casting or forging rejects or the like not due to negligence; unusual delays caused by the Classification Society or other bodies whose documents are required (provided same did not result from BUILDER's failure to take the reasonably necessary measures to avoid any such delay); destruction of or damage to the premises Shipyard or works of the BUILDER BUILDER, its contractors, subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, VESSEL or any part thereof, by fire, landslides, flood, lightning or explosion; or delays in the BUILDER's other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn necessarily and actually delay the construction of the VESSEL or the BUILDER's performance under this Contract, and which could not have been prevented by the CONTRACT; or other causes beyond exercise of reasonable diligence on the control part of the BUILDER, or its sub-contractors, as the case may besubcontractors or suppliers; then and in any such case, which are not due subject to the negligence or default provisions of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingenciesParagraph 2 below, the DELIVERY DATE of date by which the VESSEL BUYER may either cancel this Contract under this CONTRACT Article III, Paragraph (1)(b) or impose liquidated damages under Article III, Paragraph 1(c), shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shalldelay, howeverprovided in no event shall local strikes or labor disturbances involving BUILDER's or its contractors' or subcontractors' employees, always do his utmost to minimise the delay in delivery acts or defaults of the VESSELBUILDER's contractors, subcontractors or suppliers or breach of BUILDER's, its contractors', subcontractors', or suppliers' warranties or guarantees be considered as an allowable delay.

Causes of Delay. (a) If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events; namely, namely: war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; Acts of God or the public enemy; war or other hostilities; acts of state or government; requirements of government authorities; blockade; revolution; insurrections; mobilization; civil commotion; national or industrial riots; industrial strikes, quarantinessabotage, lockouts, plague or other epidemics; quarantines; shortage or prolonged failure of electric current, ; shortage; freight embargoes; or defects in the BUYER’S SUPPLIES as stipulated in ARTICLE XII, or shortage of materials, machinery or equipment or an if any; inability to obtain delivery of or delays in delivery of essential materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in timetime but only to the extent that no other supplier can be found to replace the supplier affected by the relevant force majeure contingency; earthquakes, ; tidal waves, ; typhoons, ; hurricanes, prolonged ; destruction or unusually severe weather conditions; or destruction damage of the premises SHIPYARD or works of the BUILDER or BUILDER, its sub-contractors, or of the VESSEL, or any part thereofkey equipment suppliers, by fire, landslides, flood, lightning lightning, explosion or explosioncollisions or any other causes herein described; the BUYER’s faulty action or delays in the BUILDER's other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1, which in turn delay the construction of the VESSEL omission or the BUILDER's performance BUYER’s breach of its obligations under the CONTRACT; or other causes beyond the control of the BUILDER, or its sub-contractors, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost delays subject nevertheless to minimise the delay in BUYER’s right of termination cancellation under Paragraph 3 of this Article and subject however to all relevant provisions of this CONTRACT which authorize and permit extension of the time of delivery of the VESSEL.

Causes of Delay. If, at any time after signing this CONTRACTbefore the actual delivery, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to of delivery of the delivery thereof VESSEL is delayed by any due to Acts of the following events, namely: God; acts of princes or rulers; requirements of government authorities; war, acts of state other hostilities or government, preparations thereof; blockade, ; revolution, insurrections, mobilization, civil commotionwar, riots civil commotion or sabotageriots; sabotages, strikes, lockouts lockout or other labour disturbances happening generally in the relevant location or industry sectorlabour shortage; Acts of God or the public enemy, quarantines, plague or other epidemics; shortage quarantines; flood, typhoons, hurricanes, storms or prolonged other weather conditions not included in normal planning; earthquakes; tidal waves; landslides; fires, explosions, collisions or strandings; embargoes; delays or failure of electric current, freight embargoes, or in transportation; shortage of materials, machinery or equipment or an equipment; import restrictions; inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; earthquakesprolonged failure, tidal wavesshortage or restriction of electric current, typhoonsoil or gas; defects in materials, hurricanes, prolonged machinery or unusually severe weather conditionsequipment which could not have been detected by the BUILDER using reasonable care; casting or forging rejects or the like not due to negligence; delays caused by the Classification Society or other bodies whose documents are required; destruction of or damage to the premises SHIPYARD or works of the BUILDER BUILDER, its subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, VESSEL or any part thereof, by fire, landslides, flood, lightning or explosionany causes herein described; or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACTthis Contract; or other causes or accidents beyond the control of the BUILDER, its subcontractors or its sub-contractors, as the case may be, which are not due to the negligence or default supplies of the BUILDER nature whether or its subcontractors using reasonable carenot indicated by the foregoing words; all the foregoing irrespective of whether or for not these events could be foreseen at the day of signing this Contract; then and in any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingenciessuch case, the DELIVERY DATE of the VESSEL under this CONTRACT Delivery Date shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, at any time after signing this CONTRACTbefore the actual delivery, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to of delivery of the delivery thereof VESSEL is delayed by any due to Acts of the following events, namely: war, God; acts of state princes or government, rulers; requirements of government authorities; war or other hostilities or preparation therefore; blockade, ; revolution, insurrections, mobilization, civil commotionwar, riots civil commotion or sabotageriots; vandalism; sabotages, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sectorlabor disturbances; Acts of God or the public enemy, quarantines, labor shortage; plague or other epidemics; shortage quarantines; flood, typhoons, hurricanes, storms or prolonged other weather conditions not included in normal planning; earthquakes; tidal waves; fires, explosions, collisions or stranding; embargoes; delays or failure of electric current, freight embargoes, or in transportation; shortage of materials, machinery or equipment or an only if the BUILDER could not physically secure same despite its diligent efforts; import restrictions; inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; earthquakesprolonged failure, tidal wavesshortage or restriction of electric current, typhoonsoil or gas; defects in materials, hurricanes, prolonged machinery or unusually severe weather conditionsequipment which could not have been detected by the BUILDER using reasonable care; casting or forging rejects or the like not due to negligence; delays caused by the Classification Society or other bodies whose documents are required; destruction of or damage to the premises Shipyard or works of the BUILDER BUILDER, its subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, VESSEL or any part thereof, by fire, landslides, flood, lightning or explosionany cause herein described; or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACTthis Contract; or and other causes or accidents beyond the control of the SELLER and/or the BUILDER, its subcontractors or its sub-contractors, as the case may be, which are not due to the negligence or default suppliers of the BUILDER nature whether or its subcontractors using reasonable carenot indicated by the forgoing words; or for then and in any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingenciessuch case, the DELIVERY DATE of the VESSEL under this CONTRACT Delivery Date shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, at any time after signing this CONTRACTbefore the actual delivery of the Vessel, either the construction or delivery of the VESSEL Vessel or any performance required hereunder as a prerequisite to of delivery of the delivery thereof Vessel is delayed by any due to Acts of the following events, namely: war, God; acts of state princes or government, rulers; requirements of government authorities; war or other hostilities or preparation therefor; blockade, ; revolution, insurrections, mobilization, civil commotionwar, riots civil commotion or sabotageriots; vandalism; sabotages, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sectordisturbances; Acts of God or the public enemy, quarantines, labour shortage; plague or other epidemics; shortage quarantines; flood, typhoons, hurricanes, storms or prolonged other weather conditions not included in normal planning; earthquakes; tidal waves; fires, explosions, collisions or stranding; embargoes; delays or failure of electric current, freight embargoes, or in transportation; shortage of substitute materials, machinery or equipment or an import restrictions; inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER Sellers to be delivered in time; earthquakesprolonged failure, tidal wavesshortage or restriction of electric current, typhoonsoil or gas; defects in materials, hurricanes, prolonged machinery or unusually severe weather conditionsequipment which could not have been detected by the Sellers using reasonable care; casting or forging rejects or the like not due to negligence; delays caused by the Classification Society or other bodies whose documents are required; destruction of or damage to the premises Shipyard or works of the BUILDER Builder, its subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, Vessel or any part thereof, by fire, landslides, flood, lightning or explosionany cause herein described; or delays in the BUILDER's Builder’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL Vessel or the BUILDER's Builder’s performance under the CONTRACTthis Agreement; other similar causes or other causes accidents beyond the control of the BUILDERSellers or the Builder, its subcontractors or its sub-contractors, as the case may be, which are not due to the negligence or default suppliers of the BUILDER nature whether or its subcontractors using reasonable carenot indicated by the foregoing words; all the foregoing irrespective of whether or for not these events could be foreseen at the day of signing this Agreement; then and in any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingenciessuch case, the DELIVERY DATE of the VESSEL under this CONTRACT Delivery Date shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, at any time after signing this CONTRACTbefore the actual delivery, either the construction or delivery of the VESSEL Vessel or any performance required hereunder as a prerequisite to of delivery of the delivery thereof Vessel is delayed by any due to Acts of the following events, namely: war, God; acts of state princes or government, rulers; requirements of government authorities; war or other hostilities or preparations therefor; blockade, ; revolution, insurrections, mobilization, civil commotionwar, riots civil commotion or sabotageriots; vandalism; sabotages, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sectorlabor disturbances; Acts of God or the public enemy, quarantineslabor shortage, plague or other epidemics; shortage quarantine; flood, typhoons, hurricanes, storms or prolonged other weather conditions not included in normal planning; earthquakes; tidal waves; landslides; fires, explosions, collisions or strandings; embargoes; delays or failure of electric current, freight embargoes, or in transportation; shortage of materials, machinery or equipment or an equipment; import restrictions; inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER Seller and/or the Builder to be delivered in time; earthquakesprolonged failure, tidal wavesshortage or restriction of electric current, typhoonsoil or gas; defects in materials, hurricanes, prolonged machinery or unusually severe weather conditionsequipment which could not have been detected by the Seller and/or the Builder using reasonable care; casting or forging rejects or the like not due to negligence; delays caused by the Classification Society or other bodies whose documents are required; destruction of or damage to the premises Shipyard or works of the BUILDER Builder, its subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, Vessel or any part thereof, by fire, landslides, flood, lightning or explosionany causes herein described; or delays in the BUILDERBuilder's other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL Vessel or the BUILDERSeller's and/or the Builder's performance under the CONTRACTthis Contract; or other causes or accidents beyond the control of the BUILDERSeller and/or the Builder, its subcontractors or its sub-contractors, as the case may be, which are not due to the negligence or default suppliers of the BUILDER nature whether or its subcontractors using reasonable carenot indicated by the foregoing words; or for all the foregoing provided that these events could not be foreseen at the day of signing this Contract; then and in any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingenciessuch case, the DELIVERY DATE of the VESSEL under this CONTRACT delivery date shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.{N1783113.1.2}

Causes of Delay. If, at any time after signing this CONTRACTbefore the actual delivery, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to of delivery of the delivery thereof VESSEL is delayed by any due to Acts of the following events, namely: God; acts of princes or rulers; requirements of government authorities; war, acts of state other hostilities or government, preparations thereof; blockade, ; revolution, insurrections, mobilization, civil commotionwar, riots civil commotion or sabotageriots; sabotages, strikes, lockouts lockout or other labour disturbances happening generally in the relevant location or industry sectorlabour shortage; Acts of God or the public enemy, quarantines, plague or other epidemics; shortage quarantines; flood, typhoons, hurricanes, storms or prolonged other weather conditions not included in normal planning; earthquakes; tidal waves; landslides; fires, explosions, collisions or strandings; embargoes; delays or failure of electric current, freight embargoes, or in transportation; shortage of materials, machinery or equipment or an equipment; import restrictions; inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; earthquakesprolonged failure, tidal wavesshortage or restriction of electric current, typhoonsoil or gas; defects in materials, hurricanes, prolonged machinery or unusually severe weather conditionsequipment which could not have been detected by the BUILDER using reasonable care; casting or forging rejects or the like not due to negligence; delays caused by the Classification Society or other bodies whose documents arc required; destruction of or damage to the premises SHIPYARD or works of the BUILDER BUILDER, its subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, VESSEL or any part thereof, by fire, landslides, flood, lightning or explosionany causes herein described; or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACTthis Contract; or other causes or accidents beyond the control of the BUILDER, its subcontractors or its sub-contractors, as the case may be, which are not due to the negligence or default supplies of the BUILDER nature whether or its subcontractors using reasonable carenot indicated by the foregoing words; all the foregoing irrespective of whether or for not these events could be foreseen at the day of signing this Contract; then and in any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingenciessuch case, the DELIVERY DATE of the VESSEL under this CONTRACT Delivery Date shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, If at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: war; namely war involving Korea, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; riots, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; sabotage, lockouts, Acts of God or the public enemy, quarantines, plague or other epidemics; , quarantines, shortage or prolonged failure of electric current, freight embargoes, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipmentequipment or hull blocks or outfitting works , provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; time or defects in materials, machinery or equipment which could not have been detected by the BUILDER using reasonable care or earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; conditions or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or explosion; or delays in the BUILDER's other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1lightning, explosion which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACT; or other causes beyond the control of the BUILDER, or its sub-contractorsdelays caused by the CLASSIFICATION SOCIETY or the BUYER’s faulty action or omission, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; Acts of God or the public enemy, quarantines, plague or other epidemics; shortage or prolonged failure of electric current, freight embargoes, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or explosion; or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1, which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACT; or other causes beyond the control of the BUILDER, or its sub-contractors, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: ; namely war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; riots, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; sabotage, lockouts, Acts of God or the public enemy, quarantines, plague or other epidemics; , quarantines, shortage or prolonged failure of electric current, freight embargoes, or defects in major forgings or castings which could not have been detected by the BUILDER using reasonable care, or delays or defects in the BUYER’S SUPPLIES as stipulated in Article X.II, if any, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; , or defects in materials, machinery or equipment which could not have been detected by the BUILDER using reasonable care or earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; conditions or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or lightning, explosion; , or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1, Article which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACT; , or delays caused by the CLASSIFICATION SOCIETY or the BUYER’s faulty action or omission, or other causes beyond the reasonable control of the BUILDER, or its sub-contractors, as the case may be, provided all the foregoing events were not existing and known to the BUILDER at the date of this CONTRACT or the effect of which are could not have been avoided or reduced by the exercise of due to diligence by the BUILDER or his relevant subcontractors, as the case may be, and provided further that the events and/or delays were not caused or contributed by the negligence or default misconduct of the BUILDER in respect of labor relations or its subcontractors using reasonable carehis relevant sub-contractors, as the case may be; or for and provided further that any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery above events directly affect the construction schedule of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The Upon occurrence of the foregoing events, the BUILDER shall, however, always do his utmost shall take immediate steps to minimise overcome and mitigate the delay in delivery of the VESSELand to recover lost time, if any.

Causes of Delay. If, If at any time after signing this CONTRACTbefore the delivery of the Vessel, either the construction or delivery of the VESSEL Vessel or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any due to Acts of the following events, namely: war, God; acts of state princes or government, rulers; requirements of government authorities; war or other hostilities or preparations therefor; blockade, revolution, insurrections, mobilization, civil commotionwar, riots civil commotion or riots; vandalism; sabotage; strikes, lockouts strikes or other labour disturbances happening generally in the relevant location or industry sectorlockouts; Acts of God or the public enemy, quarantines, plague or other epidemics; quarantines; flood, typhoons, hurricanes, storms or other abnormal weather conditions not included in normal planning; earthquakes; tidal waves; landslides; lightning, explosions, collisions or strandings; embargoes; import restrictions; defects in major forgings or castings; delay in delivery or inability to take delivery thereof (provided that such materials and equipment at the time of ordering could reasonably be expected by Builder to be delivered in time); prolonged failure, shortage or prolonged failure restriction of electric current, freight embargoes, oil or shortage of gas supplies; defects in materials, machinery or equipment or an inability which could not have been detected by Builder using reasonable care (provided same did not result from Builder’s failure to obtain delivery or take the reasonable and necessary measures to avoid any such delay); delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected caused by the BUILDER to be delivered in timeClassification Society or other bodies whose documents are required; earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; or destruction of or damage to the premises Shipyard or works of the BUILDER or its sub-contractorsBuilder, suppliers, or of or to the VESSEL, Vessel or any part thereof, by fire, landslides, flood, lightning any causes herein described; delays caused by any faulty action or explosionomission on the part of Buyer (but without prejudice to any other rights of Builder under this Contract); or delays then and in the BUILDER's other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes case, the Delivery Date shall be postponed for such period as described the delivery of the Vessel is delayed thereby, provided that the Builder shall use all reasonable efforts to mitigate any delay in this Paragraph 1, which in turn delay the construction of the VESSEL or Vessel, resulting from such events. Such delays must be continuous for a period of at least One (1) day, otherwise the BUILDER's performance under the CONTRACT; or other causes beyond the control of the BUILDER, or its sub-contractors, as the case may be, which are Builder cannot due claim an extension to the negligence or default of the BUILDER or its subcontractors using reasonable care; or Delivery Date for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSELindividual events.

Causes of Delay. If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: ; namely war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; riots, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; sabotage, lockouts, Acts of God or the public enemy, quarantines, plague or other epidemics; , quarantines, shortage or prolonged failure of electric current, freight embargoes, or defects in major forgings or castings, or delays or defects in the BUYER's supplies as stipulated in Article XII, if any, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; time or defects in materials, machinery or equipment which could not have been detected by the BUILDER using reasonable care or earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; conditions or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or lightning, explosion; , or delays in the BUILDER's other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1, Article which in turn delay the construction of the VESSEL or the BUILDER's performance under the CONTRACT; , or delays caused by the CLASSIFICATION SOCIETY or the BUYER's faulty action or omission, or other causes beyond the control of the BUILDER, or its sub-contractors, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all then, and in any such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.case PROVIDED THAT:

Causes of Delay. If, If at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: namely war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; riots, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; sabotage, lockouts, Acts of God or the public enemy, quarantines, plague or other epidemics; , quarantines, shortage or prolonged failure of electric current, freight embargoes, or defects in major forging or castings, or delays or defects in the BUYER’S supplies as stipulated in Article XIII, if any, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; time or defects in materials, machinery or equipment which could not have been detected by the BUILDER using reasonable care or earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; conditions or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or lightning, explosion; , or delays in the BUILDER's ’S other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1, Article which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACT; , or delays caused by the CLASSIFICATION SOCIETY or the BUYER’s faulty action or omission, or other causes beyond the control of the BUILDER, or its sub-contractors, contractors as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise authorize and permit extension of the time for delivery of the VESSEL, then, then in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all then and in any such delays. The BUILDER shallcase, however, always do his utmost to minimise the delay in delivery of the VESSEL.PROVIDED THAT:

Causes of Delay. If, at any time after signing this CONTRACTbefore the actual delivery, either the construction or delivery of the VESSEL Vessel or any performance required hereunder as a prerequisite to of delivery of the delivery thereof Vessel is delayed by any due to Acts of the following events, namely: war, God; acts of state princes or government, rulers; requirements of government authorities; war or other hostilities or preparations there for; blockade, ; revolution, insurrections, mobilization, civil commotionwar, riots civil commotion or sabotageriots; vandalism; sabotages, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sectorlabor disturbances; Acts of God or the public enemy, quarantineslabor shortage, plague or other epidemics; shortage quarantine; flood, typhoons, hurricanes, storms or prolonged other weather conditions not included in normal planning; earthquakes; tidal waves; landslides; fires, explosions, collisions or strandings; embargoes; delays or failure of electric current, freight embargoes, or in transportation; shortage of materials, machinery or equipment or an equipment; import restrictions; inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER Seller and/or the Builder to be delivered in time; earthquakesprolonged failure, tidal wavesshortage or restriction of electric current, typhoonsoil or gas; defects in materials, hurricanes, prolonged machinery or unusually severe weather conditionsequipment which could not have been detected by the Seller and/or the Builder using reasonable care; casting or forging rejects or the like not due to negligence; delays caused by the Classification Society or other bodies whose documents are required; destruction of or damage to the premises Shipyard or works of the BUILDER Builder, its subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, Vessel or any part thereof, by fire, landslides, flood, lightning or explosionany causes herein described; or delays in the BUILDERBuilder's other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL Vessel or the BUILDERSeller's and/or the Builder's performance under the CONTRACTthis Contract; or other causes or accidents beyond the control of the BUILDERSeller and/or the Builder, its subcontractors or its sub-contractors, as the case may be, which are not due to the negligence or default suppliers of the BUILDER nature whether or its subcontractors using reasonable carenot indicated by the foregoing words; or for all the foregoing provided that these events could not be foreseen at the day of signing this Contract; then and in any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingenciessuch case, the DELIVERY DATE of the VESSEL under this CONTRACT delivery date shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: ; namely war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; riots, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; sabotage, lockouts, Acts of God or the public enemy, quarantines, plague or other epidemics; , quarantines, shortage or prolonged failure of electric current, freight embargoes, or defects in major forgings or castings, or delays or defects in the BUYER's supplies as stipulated in Article XII, if any, or shortage of materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; time or defects in materials, machinery or equipment which could not have been detected by the BUILDER using reasonable care or earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; conditions or destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or lightning, explosion; , or delays in the BUILDER's other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1, Article which in turn delay the construction of the VESSEL or the BUILDER's 'S performance under the CONTRACT; , or delays caused by the CLASSIFICATION SOCIETY or the BUYER's faulty action or omission, or other causes beyond the control of the BUILDER, or its sub-contractors, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all then, and in any such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.case PROVIDED THAT:

Causes of Delay. If, at any time after signing this CONTRACTbefore the actual delivery, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to of delivery of the delivery thereof VESSEL is delayed by any due to Act of the following events, namely: war, God; acts of state princes or government, rulers; requirements of government authorities; war or other hostilities or preparations thereof; blockade, ; revolution, insurrections, mobilization, civil commotionwar, riots civil commotion or sabotageriots; vandalism; sabotages, strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sectordisturbances; Acts of God or the public enemy, quarantines, labour shortage; plague or other epidemics; shortage quarantines; flood, typhoons, hurricanes, storms or prolonged other weather conditions not included in normal planning; earthquakes; tidal waves; landslides; fires, explosions, collisions or strandings; embargoes; delays or failure of electric current, freight embargoes, or in transportation; shortage of materials, machinery or equipment or an equipment; import restrictions; inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER to be delivered in time; earthquakesprolonged failure, tidal wavesshortage or restriction of electric current, typhoonsoil or gas; defects in materials, hurricanes, prolonged machinery or unusually severe weather conditionsequipment which could nor have been detected by the BUILDER using reasonable care; casting or forging rejects or the like not due to negligence; delays caused by the Classification Society or other bodies whose documents are required; destruction of or damage to the premises SHIPYARD or works of the BUILDER BUILDER, its subcontractors or its sub-contractorssuppliers, or of or to the VESSEL, VESSEL or any part thereof, by fire, landslides, flood, lightning or explosionany causes herein described; or delays in the BUILDER's ’s other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL or the BUILDER's ’s performance under the CONTRACTthis Contract; or other causes or accidents beyond the control of the BUILDER, its subcontractors or its sub-contractors, as the case may be, which are not due to the negligence or default suppliers of the BUILDER nature whether or its subcontractors using reasonable carenot indicated by the foregoing words; all the foregoing irrespective of whether or for not these events could be foreseen at the day of signing this Contract; then and in any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingenciessuch case, the DELIVERY DATE of the VESSEL under this CONTRACT Delivery Date shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost to minimise the delay in delivery of the VESSEL.

Causes of Delay. If, at any time after signing this CONTRACT, either the construction or delivery of the VESSEL or any performance required hereunder as a prerequisite to the delivery thereof is delayed by any of the following events, namely: ; namely war, acts of state or government, blockade, revolution, insurrections, mobilization, civil commotion, riots or sabotage; riots, general workers strikes, lockouts or other labour disturbances happening generally in the relevant location or industry sector; sabotage, Acts of God or the public enemy, quarantines, plague or other epidemics; shortage or , quarantines, prolonged failure of electric current, freight embargoes, or shortage of defects in major forgings or castings, or delays in the BUYER’s supplies as stipulated in Article XII, if any, or or defects in materials, machinery or equipment or an inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same which could reasonably be expected not have been detected by the BUILDER to be delivered in time; using reasonable care or earthquakes, tidal waves, typhoons, hurricanes, prolonged or unusually severe weather conditions; conditions or by destruction of the premises or works of the BUILDER or its sub-contractors, or of the VESSEL, or any part thereof, by fire, landslides, flood, lightning or explosion; or delays in the BUILDER's other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as described in this Paragraph 1lightning, which in turn delay the construction of the VESSEL explosion or the BUILDER's ’s performance under the CONTRACT; , or delays caused by the CLASSIFICATION SOCIETY or the BUYER’s faulty action or omission, or other causes beyond the control of the BUILDER, or its sub-contractors, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingencies, the DELIVERY DATE of the VESSEL under this CONTRACT shall be extended for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delays. The BUILDER shall, however, always do his utmost shall have used reasonable efforts to minimise mitigate the delay in delivery duration and effects of suchevents of the VESSELconstruction schedule.

Causes of Delay. If, at any time after signing this CONTRACTbefore the actual delivery of the VESSEL, either the construction or delivery of the VESSEL vessel and/or her sailing towards the Black Sea, or any performance required hereunder as a prerequisite to pre-requisite of delivery of the delivery thereof vessel is delayed by any due to Acts of the following events, namely: war, God; acts of state princes or governmentrulers, requirements of Government Authorities; war or other hostilities or preparations therefor; blockade, ; revolution, insurrections, mobilization; mobilisation, civil commotionwar, riots civil commotion or sabotageriots; vandalism, sabotages, strikes, lockouts lock-outs or other labour disturbances happening generally in the relevant location or industry sectordisturbances; Acts of God or the public enemy, quarantines, plague or other epidemics; shortage quarantines; flood, typhoons, hurricanes, storms or prolonged other weather conditions not included in normal planning; earthquakes; tidal waves; landslides; fires, explosions, collisions or strandings; embargoes; delays or failure of electric current, freight embargoes, or in transportation; shortage of materials, machinery or equipment or an equipment; import restrictions; inability to obtain delivery or delays in delivery of materials, machinery or equipment, provided that at the time of ordering the same could reasonably be expected by the BUILDER SELLER to be delivered in time; earthquakes, tidal waves, typhoons, hurricanes, prolonged failure, shortage or unusually severe weather conditionsrestriction of electric current, oil or gas; defects in materials, machinery or equipment supplied from sources outside SELLER’s shipyard which could not have been detected by the SELLER using reasonable care; casting or forging rejects or the like not due to negligence; delays caused by the Classification Society or other bodies whose documents are required; destruction of or damage to the premises Shipyard or works of the BUILDER or SELLER, its sub-contractorscontractors or suppliers, or of or to the VESSEL, vessel or any part thereof, by fire, landslides, flood, lightning or explosionany causes herein described; or delays in the BUILDER's SELLER’S other commitments directly related to the construction activities at the SHIPYARD resulting from any such causes as herein described in this Paragraph 1, which in turn delay the construction of the VESSEL vessel or the BUILDER's SELLER’S performance under this contract; low levels of the CONTRACTwater in the River Danube below 2.5 metres in depth along the route from the Shipyard to the Black Sea, local temperature higher than 30 degrees (in the shade) centigrade, or lower than 5 degrees centigrade and/or other weather conditions technologically unacceptable; or other causes or accidents beyond the control of the BUILDERSELLER, or its sub-contractorscontractors or suppliers, as the case may be, which are not due to the negligence or default of the BUILDER or its subcontractors using reasonable care; or for any other causes which, under the terms of this CONTRACT, authorise then and permit extension of the time for delivery of the VESSEL, then, in the event of delays due to the happening of any of the aforementioned contingenciessuch case, the DELIVERY DATE of the VESSEL under this CONTRACT Delivery Date shall be extended postponed for the a period of time that the VESSEL is delayed which shall not exceed the total accumulated time of all such delaysdelays but in any case up to the permitted maximum stated in Paragraph 5 of this Article IX, except that concurrent delays shall not be calculated as cumulative. The BUILDER shallHowever, however, always do his utmost to minimise the delay in delivery happening of any of the VESSEL.aforementioned contingencies shall cot give rise any extension of the Delivery Date unless;