Shipbuilding Contract. The VESSEL shall further comply with the applicable rules, regulations and requirements of the Regulatory Bodies of NOR (the Flag State) as further set out in the Specifications being in force as of the date of this Contract. All fees and charges incidental to the Classification and with respect to compliance with the above referred rules, regulations and requirements shall be for account of the BUILDER. If there after the Date of Contract is a change in the rules of the Classification Society or Regulatory Bodies or in the interpretation or application of such rules, Article V Clause 2 shall apply The VESSEL shall be built in accordance with good, normal shipbuilding practice in Norway for new vessels of similar type and characteristics as the VESSEL.
Appears in 4 contracts
Samples: Memorandum of Agreement (Nordic American Offshore Ltd.), Memorandum of Agreement (Nordic American Offshore Ltd.), Memorandum of Agreement (Nordic American Offshore Ltd.)
