CHANGES IN CLASS AND RULES Clause Samples

CHANGES IN CLASS AND RULES. If, after the date provided for in Article 1 (b) (ii) of this Contract, any requirements as to Class or as to the above specified rules and regulations with which the construction of the Vessel is required to comply are altered or changed by the Classification Society or bodies authorized to make such alterations or changes, either of the parties hereto, upon receipt of due notice thereof, shall forthwith give notice thereof to the other party in writing. Thereupon, within fifteen (15) working days after receipt of the said notice from the Builder or giving the same to the Builder, the Buyer shall advise the Builder as to the alterations and changes, if any, to be made on the Vessel which the Buyer, at its sole discretion, shall decide. The Builder shall not be obliged to comply with such alterations and/or changes if the Buyer fails to notify the Builder of its decision within the time limit stated above or if such alterations and/or changes are not compulsory under the relevant rules, regulations or requirements. The Builder shall comply promptly with the said request of the Buyer, provided that the Builder and the Buyer shall first agree to: (i) any reasonable increase or decrease in the Contract Price of the Vessel that is occasioned by the cost of such compliance, (ii) any reasonable extension or advancement in the Delivery Date of the Vessel that is occasioned by such compliance, (iii) any reasonable increase or decrease in the deadweight and/or cubic capacity of the Vessel, if such compliance results in any increase or reduction in the deadweight, (iv) adjustment of the speed requirements, if any, and fuel oil consumption, (v) any other reasonable alterations in the terms of this Contract, or of the Specifications or Plans, or both, if such compliance makes such alterations of the terms necessary. If the parties are unable to agree any of the above, the parties may by mutual agreement refer the dispute to a third party expert as may be mutually agreed between the parties hereto and who shall act as an expert and not as arbitrator and whose decision shall be final, conclusive and binding on the parties hereto. Any delay in the construction of the Vessel caused by the Buyer’s delay in making a decision or agreement as above shall constitute a permissible delay under this Contract. Such agreement by the Buyer shall be effected in the same manner as provided above for modification and change of the Specifications and Plans. When reasonably required by t...
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Related to CHANGES IN CLASS AND RULES

  • Changes in Classification The regular wage rate of the employee in effect on July 1 and January 1 will determine his entitlement to Group Life and Accidental Death and Dismemberment coverages as outlined in the schedule contained in Exhibit “B”. Where an employee’s regular duties consist of more than one job, his regular rate shall be deemed to be the average of the rates applicable to such jobs.

  • Changes in Control For the duration of the Project Term, the Private Party shall procure that there is no Change in Control in the Private Party (or in any company of which the Private Party is a subsidiary) without the prior written approval of SANParks, which approval shall not be unreasonably withheld, provided that no Change in Control may breach the provisions of Schedule 5 in any way.

  • Changes in Accounting Procedures Any resolution passed by the Board of Trustees that affects accounting practices and procedures under this Agreement shall be effective upon written receipt of notice and acceptance by USBFS.

  • Changes in Work The Contractor shall not commence any additional work or change the scope of the work until authorized in writing by the State. The Contractor shall make no claim for additional compensation in the absence of a prior written approval and amendment executed by all signatories hereto. This Contract may only be amended, supplemented or modified by a written document executed in the same manner as this Contract.

  • Changes in Condition In the event of any advantageous technical changes and/or downward pricing of the Services during the duration of this Agreement, the Contractor shall notify UNDP immediately. UNDP shall consider the impact of any such event and may request an amendment to the Agreement.