Common use of CHANGES IN CLASS, ETC Clause in Contracts

CHANGES IN CLASS, ETC. (a) If, after the date of this Contract, any requirements as to class, to which the construction of the Vessel is required to conform, are altered or changed by the Classification Society, and the classification certificate cannot be obtained without conformity with such alterations or changes, then, any Party (including the Builder) who becomes aware of the change shall forthwith transmit such information in full to the other in writing and then the Builder shall promptly incorporate such alterations or changes into the construction of the Vessel, provided that the Buyer shall first agree to adjustments reasonably required by the Seller and/or the Builder in the Contract Price, the Expected Delivery Date, the Guaranteed Speed, the Guaranteed Fuel Consumption, the Guaranteed Deadweight and other terms and conditions of this Contract and the Specifications, if any, caused by the application of such alterations or changes. Such alterations or changes and adjustments shall be confirmed by written agreement between the parties hereto, or by exchange of faxes. Notwithstanding the foregoing provisions, the Buyer may, at its sole discretion first apply to the Classification Society for a formal waiver of compliance with such alterations or changes provided however that the Buyer shall take into account the Builder’s request that the Buyer applies for a waiver. (b) If, after the date of this Contract, any requirements under the rules and regulations other than those of the Classification Society, to which the construction of the Vessel is required in the Specifications to conform, are altered or changed by the regulatory bodies authorized to make such alterations or changes, and the certificates of such regulatory bodies cannot be obtained without conformity with such alterations or changes, then any Party (including the Builder) who becomes aware of the change shall forthwith transmit such information in full to the other in writing and then the Builder shall promptly incorporate such alterations or changes into the construction of the Vessel, provided that the Buyer shall first agree to the adjustment reasonably required by the Seller and/or the Builder in the Contract Price, the Expected Delivery Date, the Guaranteed Speed, the Guaranteed Fuel Consumption, the Guaranteed Deadweight and other terms and conditions of this Contract and the Specifications if any, caused by the application of such alterations or changes. Such alterations or changes and adjustments shall be confirmed by written agreement between the parties hereto, or by exchange of faxes. Notwithstanding the foregoing provisions, the Buyer may, at its sole discretion first apply to such regulatory body or bodies for a formal waiver of compliance with such alterations or changes provided however that the Buyer shall take into account the Builder’s request that the Buyer applies for a waiver. (c) If, after the date of this Contract, any requirements as to class, or under the other rules and regulations which are irrelevant to or unnecessary in obtaining the classification certificates or the certificates of such other regulatory bodies are altered or changed by the Classification Society or such other regulatory bodies, and the Buyer desires to incorporate such alterations or changes into the construction of the Vessel, then, the Buyer shall give a written notice of such intention to the Seller and the Builder. The Builder will in the Builder’s reasonable judgment accept such alterations or changes, if those alterations or changes will neither adversely affect the Builder’s design of the Vessel nor adversely affect the Builder’s construction schedule of the Vessel and/or program in relation to the Builder’s other binding commitments, provided always that the Buyer shall first agree to adjustments reasonably required by the Seller and/or the Builder in the Contract Price, the Expected Delivery Date, the Guaranteed Speed, the Guaranteed Fuel Consumption, the Guaranteed Deadweight and other terms and conditions of this Contract and the Specifications, if any, caused by application of such alterations or changes. Such alterations or changes and adjustments shall be confirmed by written agreement between the parties hereto, or by exchange of letters or cables confirmed in writing.

CHANGES IN CLASS, ETC. (a) If, after the date of this Contract, any requirements as to class, to which the construction of the Vessel is required to conform, are altered or changed by the Classification Society, and the classification certificate cannot be obtained without conformity with such alterations or changes, then, any Party (including the Builder) who becomes aware of the change shall forthwith transmit such information in full to the other in writing and then the Builder shall promptly incorporate such alterations or changes into the construction of the Vessel, provided that the Buyer shall first agree to adjustments reasonably required by the Seller and/or the Builder in the Contract Price, the Expected Delivery Date, the Guaranteed Speed, the Guaranteed Fuel Consumption, the Guaranteed Deadweight and other terms and conditions of this Contract and the Specifications, if any, caused by the application of such alterations or changes. Such alterations or changes and adjustments shall be confirmed by written agreement between the parties hereto, or by exchange of faxes. Notwithstanding the foregoing provisions, the Buyer may, at its sole discretion first apply to the Classification Society for a formal waiver of compliance with such alterations or changes provided however that the Buyer shall take into account the Builder’s request that the Buyer applies for a waiver. (b) If, after the date of this Contract, any requirements under the rules and regulations other than those of the Classification Society, to which the construction of the Vessel is required in the Specifications to conform, are altered or changed by the regulatory bodies authorized to make such alterations or changes, and the certificates of such regulatory bodies cannot be obtained without conformity with such alterations or changes, then any Party (including the Builder) who becomes aware of the change shall forthwith transmit such information in full to the other in writing and then the Builder shall promptly incorporate such alterations or changes into the construction of the Vessel, provided that the Buyer shall first agree to the adjustment reasonably required by the Seller and/or the Builder in the Contract Price, the Expected Delivery Date, the Guaranteed Speed, the Guaranteed Fuel Consumption, the Guaranteed Deadweight and other terms and conditions of this Contract and the Specifications if any, caused by the application of such alterations or changes. Such alterations or changes and adjustments shall be confirmed by written agreement between the parties hereto, or by exchange of faxes. Notwithstanding the foregoing provisions, the Buyer may, at its sole discretion first apply to such regulatory body or bodies for a formal waiver of compliance with such alterations or changes provided however that the Buyer shall take into account the Builder’s request that the Buyer applies for a waiver. (c) If, after the date of this Contract, any requirements as to class, or under the other rules and regulations which are irrelevant to or unnecessary in obtaining the classification certificates or the certificates of such other regulatory bodies are altered or changed by the Classification Society or such other regulatory bodies, and the Buyer desires to incorporate such alterations or changes into the construction of the Vessel, then, the Buyer shall give a written notice of such intention to the Seller and the Builder. The Builder will in the Builder’s reasonable judgment judgement accept such alterations or changes, if those alterations or changes will neither adversely affect the Builder’s design of the Vessel nor adversely affect the Builder’s construction schedule of the Vessel and/or program in relation to the Builder’s other binding commitments, provided always that the Buyer shall first agree to adjustments reasonably required by the Seller and/or the Builder in the Contract Price, the Expected Delivery Date, the Guaranteed Speed, the Guaranteed Fuel Consumption, the Guaranteed Deadweight and other terms and conditions of this Contract and the Specifications, if any, caused by application of such alterations or changes. Such alterations or changes and adjustments shall be confirmed by written agreement between the parties hereto, or by exchange of letters or cables confirmed in writing.