4th Installment. The sum of United States Dollars 1,132,500.00 (United States Dollars one million and one hundred thirty two thousand and five hundred only), shall become due and payable and shall be paid within five (5) New York banking days after successful launching of the VESSEL. The launching of the VESSEL shall be notified by the SELLER with a telex, telefax or letter notice to the BUYER stating that the launching of the VESSEL has been successfully carried out. The SELLER shall send to the BUYER a telex or telefax demand for payment of this installment.
4th Installment. The BUYER shall remit the amount of this installment in accordance with Article II, Paragraph 3(d) by telegraphic transfer to SELLER’s Bank as receiving bank nominated by the SELLER for A/C Beneficiary: China Shipbuilding Trading Company Limited, or through other receiving bank to be nominated by the SELLER from time to time and such nomination shall be notified to the BUYER at least ten (10) days prior to the due date for payment. Shipbuilding Contract Hull No.H1597
4th Installment. The BUYER shall remit the amount of this installment in accordance with clause 3(d) of Article II, by telegraphic transfer to the bank as stated in the Refund Guarantee for credit to the account of SELLER.
4th Installment. The Buyer shall, not later than three (3) Business Days prior to the scheduled delivery date of the VESSEL, make cash deposit with MUFG, covering the amount of this installment as adjusted, available or releasable to the Seller against a photo or facsimile copy of the Protocol of Delivery and Acceptance of the VESSEL as set forth in the Paragraph 3 of the Article VII hereof. No payment under this Contract shall be delayed or withheld by the Buyer on account of any dispute or disagreement of whatsoever nature arising between the parties hereto. Business Day stipulated in this Contract shall mean a day, other than Saturday, Sunday and public holidays, and on which leading banks in Tokyo/Japan, New York/USA, Singapore, Beijing/China and Hong Kong/China, are open for business of remittance and lending of money.
4th Installment. The BUYER shall remit the amount of this installment in accordance with Article 2, Paragraph 3(d) by telegraphic transfer to XXXXX.XXX Bank, ,xxx, Branch, the People’s Republic of China as receiving bank nominated by the SELLER, for credit to the account of XXXXN XXXXXXX XXXXX Account No xxxxxxxxxx with direct SWIFT advice from the remitting bank to xxxxx Bank, xxxx Branch.
4th Installment. The sum of Eight Million Six Hundred Eighteen Thousand United States Dollars (U.S.$8,618,000), equivalent to ten percent (10%) of the Contract Price shall be paid upon the second banking day next following the mechanical completion of the Well Activity Center of the VESSEL, which shall be deemed to require completion of specific, yet to be mutually agreed, tasks.
4th Installment. The Buyer shall, at least three (3) Business Days prior to the scheduled delivery date of the Vessel subject of any changes to the delivery date in accordance with this Contract, make a cash deposit with the BANK, covering the amount of this Installment (as adjusted in accordance with the provisions of this Contract), with an irrevocable instruction that the said amount shall be released to the Seller's favour and account against presentation to the BANK by facsimile of a duly signed copy of the PROTOCOL OF DELIVERY AND ACCEPTANCE of the Vessel as set forth in Paragraph 3 of Article VII hereof. Any cost and expense related to such remittance and deposit shall be bourne by the Buyer. No payment under this Contract shall be delayed or withheld by the Buyer on account of any dispute or disagreement of whatever nature arising between the parties hereto.
4th Installment. The sum of United States Dollars plus any increase or minus any decrease due to adjustments of the Contract Price hereunder, shall be paid upon delivery of the VESSEL.
4th Installment. The sum of United States Dollars shall be paid in cash upon launching of the VESSEL.
4th Installment. The BUYER shall remit within three (3) business days by telegraphic transfer the amount of said installment to the Nominated Bank for account of the BUILDER after receipt of FAX or e-mail notice from the BUILDER confirming launching of the VESSEL.
