Shipbuilding Contracts Clause Samples
A Shipbuilding Contracts clause outlines the terms and conditions governing the construction and delivery of a vessel by a shipbuilder to a buyer. It typically details specifications for the ship, timelines for completion, payment schedules, and quality standards, as well as procedures for inspection and acceptance. This clause ensures that both parties are clear on their obligations and expectations, thereby reducing the risk of disputes and providing a framework for resolving issues that may arise during the shipbuilding process.
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Shipbuilding Contracts. The Borrower shall have delivered to the Facility Agent a true and complete copy of each Shipbuilding Contract and evidence satisfactory to the Facility Agent that the Borrower has paid the first thirty five percent (35%) of the Contract Price for each Vessel.
Shipbuilding Contracts. Copies of the Shipbuilding Contracts certified by an officer of the Borrowers as being a true and correct copy thereof.
Shipbuilding Contracts. (a) In relation to each New Ship, a copy of the Shipbuilding Contract relating to that Ship and of all documents signed or issued by the relevant Newbuild Owner which is a party to such Shipbuilding Contract or the Builder (or both of them) under or in connection with it.
(b) In relation to each New Ship, such documentary evidence as the Facility Agent and its legal advisers may require in relation to the due authorisation and execution of each Shipbuilding Contract by the relevant Newbuild Owner which is a party to such Shipbuilding Contract and the Builder of and of all documents to be executed by that relevant Newbuild Owner and the Builder under or in connection with it.
Shipbuilding Contracts. The copies of each Initial Charter, the First Ship A MOA, the Ship A MOA and each Shipbuilding Contract delivered to the Agent before the date of this Agreement are true and complete copies;
Shipbuilding Contracts. (a) make any material change to either Shipbuilding Contract;
(b) agree to any change to the purchase price of either Vessel under the relevant Shipbuilding Contract which would result in an increase or reduction of 5 per cent or more of the originally contracted purchase price;
Shipbuilding Contracts. Contract for the construction and sale of a drillship Hull No. 1809 dated 24 July 2007, between Pacific Bora Ltd. (formerly Pamol Shipping Ltd.) and Samsung Heavy Industries Co., Ltd. (the “Bora Shipbuilding Contract”).
Shipbuilding Contracts. The principal terms of the Shipbuilding Contracts are as follows:
Shipbuilding Contracts. There has been no amendment to or variations made or agreed with the Builder in respect of the Shipbuilding Contract or the Other Shipbuilding Contract from the date of the Shipbuilding Contract or, as the case may be, the Other Shipbuilding Contract save for those already disclosed in writing to the Facility Agent prior to the date hereof or approved in writing by the Facility Agent (acting on the instructions of the Majority Lenders).
Shipbuilding Contracts. 4.1 Copies of all Shipbuilding Contracts and of all documents signed or issued by each Drillship Owner or the Builder (or both of them) under or in connection with each such agreement.
4.2 Such documentary evidence as the Facility Agent and its legal advisers may require in relation to the due authorisation and execution by the relevant Drillship Owner of the Shipbuilding Contract and of all documents to be executed by such party.
Shipbuilding Contracts. 2.1 Copies of the Shipbuilding Contracts and of all documents signed or issued by the Borrowers or the Builder (or both of them) under or in connection with the Shipbuilding Contract to which each is a party.
2.2 Such documentary evidence as the Facility Agent and its legal advisers may require in relation to the due authorisation and execution by the Borrowers and the Builder of the Shipbuilding Contract to which is a party and of all documents to be executed by the Borrowers and the Builder.