Common use of REMOVAL OF THE VESSEL Clause in Contracts

REMOVAL OF THE VESSEL. The Buyer shall take possession of the Vessel immediately upon delivery thereof and, if so requested by the Builder, shall remove the Vessel from the Shipyard within five (5) working days after delivery thereof is effected. The Builder shall provide at its cost linesmen to let go the lines during the unberth of the Vessel. If Buyer fails to remove the Vessel from the premise of the Shipyard within the aforesaid five (5) working days, in such event, the Buyer shall pay to the Builder a reasonable mooring charge of the Vessel. (End of Article)