ADJUSTMENT OF CONTRACT PRICE. The Contract Price shall be subject to adjustment, as hereinafter set forth, in the event of the following contingencies (it being understood by both parties that any reduction of the Contract Price is by way of liquidated damages and not by way of penalty):
Appears in 19 contracts
Samples: Ship Sale Contract (Globus Maritime LTD), Ship Sale Contract (Globus Maritime LTD), Shipbuilding Contract (Globus Maritime LTD)
ADJUSTMENT OF CONTRACT PRICE. The Contract Price shall be subject to adjustment, adjustment as hereinafter set forth, out in the event of the following contingencies (it being understood by both parties that any circumstances. Any reduction of the Contract Price pursuant to this Article is by way of liquidated damages and not by way of penalty)::
Appears in 7 contracts
Samples: Shipbuilding Contract (Gener8 Maritime, Inc.), Shipbuilding Contract (Gener8 Maritime, Inc.), Shipbuilding Contract (Gener8 Maritime, Inc.)
ADJUSTMENT OF CONTRACT PRICE. The Contract Price shall be subject to adjustment, as hereinafter set forth, in the event of the following contingencies (it being understood by both parties that any reduction of the Contract Price is by way of liquidated damages and not by way of penalty):) :
Appears in 6 contracts
Samples: Construction Contract (Danaos Corp), Construction Contract (Danaos Corp), Construction Contract (Danaos Corp)
ADJUSTMENT OF CONTRACT PRICE. The Contract Price shall be subject to adjustmentadjustments, as hereinafter set forth, in the event of the following contingencies (it being understood by both parties Parties that any reduction of the Contract Price is by way of liquidated damages and not by way of penalty):), and the BUILDER shall not in any way be responsible or liable for any other consequences by way of damages or otherwise as a consequence of any of the matters hereinafter set forth:
Appears in 5 contracts
Samples: Memorandum of Agreement, Memorandum of Agreement (Nordic American Offshore Ltd.), Memorandum of Agreement (Nordic American Offshore Ltd.)
ADJUSTMENT OF CONTRACT PRICE. The Contract Price shall be subject to adjustment, as hereinafter set forth, in the event of any of the following contingencies (it being agreed and understood by both parties that any reduction of the Contract Price under this ARTICLE III is by way of liquidated damages and not by way of penalty):).
Appears in 4 contracts
Samples: Ship Building Contract (Seaspan CORP), Ship Building Contract (Seaspan CORP), Ship Building Contract (Seaspan CORP)
ADJUSTMENT OF CONTRACT PRICE. The Contract Price shall be subject to adjustment, as hereinafter set forth, in the event of the following contingencies (it being understood by both parties Parties that any reduction of the Contract Price is by way of liquidated damages only, and not by way of penalty):
Appears in 2 contracts
Samples: Shipbuilding Contract (Safe Bulkers, Inc.), Shipbuilding Contract (Safe Bulkers, Inc.)
ADJUSTMENT OF CONTRACT PRICE. The Contract Price shall be subject to adjustment, adjustment as hereinafter set forth, forth in the event of the following contingencies (it being understood by both the parties hereto that any reduction of in the Contract Price to be made hereunder is by way of liquidated damages and not by way of penalty):
Appears in 2 contracts
Samples: Ship Sales Contract (Safe Bulkers, Inc.), Ship Sales Contract (Safe Bulkers, Inc.)
ADJUSTMENT OF CONTRACT PRICE. The Contract Price shall be subject to adjustment, as hereinafter set forth, in the event of the following contingencies (it being understood by both parties that any reduction of the Contract Price is by way of liquidated damages and not by way of penalty):): The liquidated damages hereunder shall be the conclusive pecuniary compensation recoverable in connection with each particular event stated herein and the BUILDER shall not be liable for any additional compensation claimed by the BUYER in relation to such particular event and the consequences thereof.
Appears in 2 contracts
Samples: Shipbuilding and Construction Agreement (Stolt Nielsen S A), Shipbuilding and Construction Agreement (Stolt Nielsen S A)
ADJUSTMENT OF CONTRACT PRICE. The Contract Price shall be subject to adjustment, as hereinafter hereafter set forth, in the event of the following contingencies (it being understood by both parties that any reduction of the Contract Price is by way of liquidated damages only and not by way of penalty):).
Appears in 2 contracts
Samples: Contract for Construction and Sale of Hull No. S 656 (Royal Caribbean Cruises LTD), Contract for Construction and Sale (Royal Caribbean Cruises LTD)
ADJUSTMENT OF CONTRACT PRICE. The Contract Price shall be subject to adjustment, as hereinafter set forth, in the event of the following contingencies (it being agreed and understood by both parties that any reduction of the Contract Price is by way of liquidated damages and not by way of penalty):
Appears in 1 contract
ADJUSTMENT OF CONTRACT PRICE. The Contract Price shall be subject to adjustment, as hereinafter set forth, in the event of any of the following contingencies (it being agreed and understood by both parties that any reduction of the Contract Price under this Article is by way of liquidated damages and not by way of penalty):), namely:
Appears in 1 contract
Samples: Ship Building Contract (Danaos Corp)
ADJUSTMENT OF CONTRACT PRICE. The Contract Price shall be subject to adjustment, as hereinafter set forth, in the event of the following contingencies (it being understood by both parties that any reduction of the Contract Price is by way of liquidated damages and not by way of penalty):): [**] Confidential Treatment 9
Appears in 1 contract
ADJUSTMENT OF CONTRACT PRICE. The Contract Price CONTRACT PRICE shall be subject to adjustment, as hereinafter set forth, in the event of the following contingencies (it being understood by both parties that any reduction of the Contract Price CONTRACT PRICE is by way of liquidated damages and not by way of penalty):
Appears in 1 contract
ADJUSTMENT OF CONTRACT PRICE. The Contract Price shall be subject to adjustment, as hereinafter set forth, in the event of the following contingencies (it being understood by both the parties that any reduction of the Contract Price is by way of liquidated damages and not by way of penalty):
Appears in 1 contract
