4th Instalment. The BUYER shall remit the amount of this instalment in accordance with Article II, Paragraph 3(d) by telegraphic transfer to the account of the SELLER’s bank (the account number to be nominated by the SELLER) 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) New York business days prior to the due date for payment.
4th Instalment. The sum of United States Dollars six million eight hundred twenty (US$ 6,825,000) only, shall become due and payable and be paid within five (5) New York business days of the receipt by the BUYER of a telefax notice from the SELLER attaching a Stage Certificate in the form of the draft attached as Exhibit “D”, countersigned by the Classification Surveyor, certifying that the VESSEL has been successfully launched.
C. Except as expressly provided in this Amendment, all of the terms and conditions of the Shipbuilding Contract shall remain in full force and effect.
D. The parties hereto agree that the validity and interpretation of this Amendment shall be governed by and interpreted in accordance with the laws of England.
4th Instalment. The sum of United States Dollars seven million (US$ 7,000,000) only, shall become due and payable and be paid within five (5) New York business days of the receipt by the BUYER of a telefax notice from the SELLER attaching a Stage Certificate in the form of the draft attached as Exhibit “D”, countersigned by the Classification Surveyor, certifying that the VESSEL has been successfully launched.
4th Instalment. The sum of United States Dollars Six Million Four Hundred and Eighty-Four Thousand Five Hundred only (US$ 6,484,500), representing Ten percent (10%) of the Contract Price, shall become due and payable and be paid within five (5) Banking Days after launching of the VESSEL. The SELLER shall notify the BUYER by e-mail stating and confirming that the launching of the VESSEL has been carried out. The SELLER shall then send to the BUYER an e-mail demand for payment of this in-stallment, along with a PDF proforma invoice.
4th Instalment. The BUILDER shall give a notice to the BUYER about expected date of launching of the VESSEL at least seven (7) banking days prior to the scheduled launching date. Upon receipt of telefax or e-mail notice for the BUILDER together with the statement from the Classification Society confirming that “Launching” for the VESSEL has been made, the BUYER shall remit within Five (5) banking days the amount of this instalment by telegraphic transfer to the BANK for the account of the BUILDER with remarks of “Hull ”.
4th Instalment. The sum of NOK shall be paid to the BUILDER latest within three (3) Banking days after the BUYER’s receipt of notice from the BUILDER confirming launching of the VESSEL from the BUILDER’S dry-dock. However no later than 26th of September 2014.
4th Instalment. The sum of United States Dollars shall be paid within five (5) banking days from the date of receipt by the BUYER of a notice from the BUILDER together with a statement issued by the Classification Society confirming that the launching of the VESSEL has been made.
4th Instalment. The sum of United States Dollars Three Million Four Hundred and Fifty Five Thousand only (U.S.$3,455,000.-) shall be paid within five (5) banking days after launching of the VESSEL in accordance with Clause 5(d) of this Article.
4th Instalment. A sum equalling 20% of the Original Contract Price shall be paid within 5 Banking Days after the Vessel arrives at Builder’s yard in Tomrefjord as confirmed by a certificate from the Classification Society.
4th Instalment. The sum of United States Dollars Sixteen Million Two Hundred Thousand Only (US$16,200,000.00) representing twenty percent (20%) of the Contract Price shall be paid within five (5) banking days after receipt by the BUYER of a Stage Certificate signed by the BUILDER, the BUYER’s REPRESENTATIVE and the Classification Society Surveyor in the form set out in Exhibit C hereto certifying that launching of the VESSEL has taken place and Buyer’s receipt of the original Refund Guarantee covering the refund of the 4th instalment’ in the form of hereto attached as Exhibit A whichever is later.
