Common use of CLASS AND RULES Clause in Contracts

CLASS AND RULES. The VESSEL shall be built under survey by and classified jointly in accordance with the rules of Lloyd's Register of Shipping ("Lloyd's") and the American Bureau of Shipping ("ABS") (hereinafter collectively called the "Classification Society") without any reservation of any kind. The VESSEL shall also comply with all applicable rules, regulations and requirements of the regulatory bodies identified in Section 2.1.5.1 of the Specifications that affect or could affect the design, construction or operation of the VESSEL whether in existence before, on or after the date of this Contract, subject to Article V hereof. At delivery, the VESSEL shall be classed "=100 A1, =LMC, UMS" and "=A1 Passenger Vessel E =AMS ACCU" free and clear of all recommendations or qualifications. The BUILDER shall arrange with the Classification Society for the assignment by said Society of a representative or representatives (hereinafter called the "Classification Surveyor") to the VESSEL during construction. Subject to Article V of the Contract, all fees and charges incidental to classification and to the Vessel's compliance with the above specified rules, regulations and requirements of this Contract as of delivery to BUYER as well as royalties, if any, payable to any person or entity on account of the construction of the VESSEL shall be for the account of the BUILDER. The VESSEL shall at all times be subject to inspection and tests in accordance with the rules and regulations of the Classification Society. The facilities, labor and materials necessary for the safe and convenient conduct of such inspection, shall be furnished by the BUILDER without charge. Decisions of the Classification Society as to compliance or non-compliance with the Classification Society's own rules, regulations and requirements shall, subject to Article XIII of this Contract, be final and binding upon both parties hereto.

CLASS AND RULES. The VESSEL VESSEL, including its machinery and equipment, shall be built under survey by and classified jointly constructed in accordance with the rules and regulations of Lloyd's Register of Shipping ("Lloyd's") and the American Bureau of Shipping ("ABS") (hereinafter collectively called the "referred to as “ ” or “Classification Society"”) without any reservation of any kindas fully described in the Specifications. The VESSEL shall also comply with all applicable rules, regulations and requirements of the regulatory bodies identified authorities as fully described in Section 2.1.5.1 the Specifications including that of the Specifications that affect Classification Society are to include any additional rules or could affect the design, construction or operation of the VESSEL whether in existence before, on or after circulars thereof issued and becoming effective as at the date of signing this Contract. And any compulsory changes to class rules and regulations and Bahamas or ▇▇▇▇▇▇▇▇ Islands or alternative flag rules and regulations, subject which may come into effect prior to the delivery of the vessel is to be always in accordance with Article V hereof. At deliveryV, the VESSEL shall be classed "=100 A1, =LMC, UMS" and "=A1 Passenger Vessel E =AMS ACCU" free and clear of all recommendations or qualificationsParagraph 2. The BUILDER SELLER shall arrange with the Classification Society for the assignment by said Society of to assign a representative or representatives (hereinafter called the "“Classification Surveyor"”) to the VESSEL during construction. Subject to Article V BUILDER’S Shipyard for supervision of the Contract, all construction of the VESSEL. All fees and charges incidental to classification and to the Vessel's compliance comply with the above specified rules, regulations and requirements of this Contract as described in the Specifications issued up to the date of delivery to BUYER this Contract as well as royalties, if any, payable to any person or entity on account of the construction of the VESSEL shall be for the account of the BUILDERSELLER, except as otherwise provided and agreed herein. The key plans, materials and workmanship entering into the construction of the VESSEL shall at all times be subject to inspection inspections and tests in accordance with the rules and regulations of the Classification Society. The facilitiesSociety and other regulatory bodies, labor and materials necessary for the safe and convenient conduct of such inspection, shall be furnished by the BUILDER without chargeas applicable. Decisions of the Classification Society as to compliance or non-compliance noncompliance with the Classification Society's own rules, classification rules and regulations and requirements shall, subject to Article XIII of this Contract, shall be final and binding upon both the parties hereto.