DELAY NOTICES Clause Samples
The DELAY NOTICES clause requires a party to promptly inform the other party if they anticipate or experience any delays in fulfilling their contractual obligations. Typically, this involves providing written notice within a specified timeframe, detailing the cause and expected duration of the delay. By ensuring timely communication about delays, this clause helps manage expectations, allows for mitigation measures, and reduces the risk of disputes arising from unforeseen setbacks.
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DELAY NOTICES. 2.1 The Builder shall give written notice to the Buyer of a cause of delay pursuant to Clause 1.3 as soon as practicable and no later than five (5) days after the date on which the Builder first has knowledge of such cause of delay and in such notice the Builder shall describe the cause of the delay, the date of commencement (or first occurrence) of the cause, its expected duration and its expected effect on the Builder’s ability to carry on with the building work.
2.2 The Builder will provide the Buyer with regular written status reports (at such reasonable intervals as the Buyer may request) with respect to any delay in respect of which the Builder has given notice pursuant to Clause 2.1 and as to the steps being taken (and planned) by the Builder to minimise and overcome any actual delay in delivery of the Ship.
2.3 Within five (5) days after any cause of delay set forth in Clause 1.3 has ceased to exist, the Builder shall notify the Buyer of such cessation and give the Buyer a written statement of the actual or estimated delay in the completion of the building work resulting from such cause together with such detailed documentation as is then available to it justifying such extension, and any such detailed documentation thereafter becoming available to the Builder shall be promptly be given to the Buyer.
2.4 On the basis of the notices, reports, statements and information given to the Buyer by the Builder relating to any actual or estimated delay in delivery (and such further information and documentation as the Buyer may reasonably request), the Buyer and the Builder shall confer and attempt to agree upon the number of days by which the Delivery Date shall be extended provided that if the Buyer and the Builder cannot so agree within thirty (30) days after the completion of any such conference, the extension of the Delivery Date (if any) shall be determined as a Dispute pursuant to the provisions of Article 13.
2.5 The extension of the Delivery Date provided for in this Article shall be the only remedy for delay to which the Builder shall be entitled and, by way of illustration but not limitation, the Builder shall not be entitled to damages or any adjustment in the Contract Price.
DELAY NOTICES. 24 Article 6: Tests and Liquidated Damages.................................. 25 1. Tests........................................................... 25 2.
DELAY NOTICES. If upon receipt of a request for a Demand Registration or any NT Registration or while a Demand Registration or any NT Registration is pending, the Company determines in its good faith judgment after consultation with its securities counsel that (i) the filing of a registration statement or any amendment thereto would require disclosure of material information which the Company has a bona fide business purpose for preserving as confidential and (ii) a delay as contemplated herein would be likely to reduce the detrimental effect of or would obviate the need for such disclosure, then if the Company provides the Requesting Holder or the Names' Trustee, as the case may be, with written notice (an "Information Delay Notice"; an Information Delay Notice or a Transaction Delay Notice, each, a "Delay Notice") thereof promptly after the Company makes such determination, which shall be made promptly after the receipt of any request, the Company shall not be required to comply with its obligations under Section 2(a) (in case of a Demand Registration) or Section 2(c)(ii) or 2(c)(iii) (in case of any NT Registration thereunder) until the earlier of (A) the date upon which such material information is disclosed to the public or ceases to be material or (B) 90 days after the Company's receipt of such registration request.