ADJUSTMENT OF THE CONTRACT PRICE. The CONTRACT PRICE of the VESSEL shall be adjusted as hereinafter set forth in the event of the following contingencies. It is hereby understood by both parties that any adjustment of the CONTRACT PRICE as provided for in this Article is by way of liquidated damages and not by way of penalty.
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Samples: Shipbuilding Contract (Excelerate Energy, Inc.), Shipbuilding Contract (DHT Holdings, Inc.), Shipbuilding Contract (DHT Holdings, Inc.)
ADJUSTMENT OF THE CONTRACT PRICE. The CONTRACT PRICE of the VESSEL shall be adjusted as hereinafter set forth in the event of the following contingencies. The adjustment of CONTRACT PRICE shall be made by way of addition to or subtraction from the CONTRACT PRICE upon delivery of the VESSEL. It is hereby understood by both parties hereto that any downward adjustment of the CONTRACT PRICE as provided for in this Article ARTICLE is by way of liquidated damages and not by way of penalty.
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