Common use of CANCELLATION, REJECTION AND RESCISSION BY THE BUYER Clause in Contracts

CANCELLATION, REJECTION AND RESCISSION BY THE BUYER. 1. All payments made by the BUYER prior to the delivery of the VESSEL shall be in the nature of advance to the SELLER. In the event the BUYER shall exercise its right of rescission and/or cancellation of this Contract under and pursuant to any of the provisions of this Contract specifically permitting the BUYER to do so, then the BUYER shall notify the SELLER in writing or by letter sent by telefax or email confirmed in writing, and such rescission and/or cancellation shall be effective as of the date the notice thereof is received by the SELLER.

CANCELLATION, REJECTION AND RESCISSION BY THE BUYER. 1. All payments made by the BUYER prior to the delivery of the VESSEL shall be in the nature of advance to the SELLER. In the event the BUYER shall exercise its right of cancellation and/or rescission and/or cancellation of this Contract under and pursuant to any of the provisions of this Contract specifically permitting the BUYER to do so, then the BUYER shall notify the SELLER in writing or by letter sent by telefax or email confirmed in writinge-mail, and such cancellation and/or rescission and/or cancellation shall be effective as of the date the notice thereof is received by the SELLER.

CANCELLATION, REJECTION AND RESCISSION BY THE BUYER. 1. All payments made by the BUYER prior to the delivery of the VESSEL shall be in the nature of advance advances to the SELLER. In the event the BUYER shall exercise its right of cancellation and/or rescission and/or cancellation of this Contract under and pursuant to any of the provisions of this Contract specifically permitting the BUYER to do so, then the BUYER shall notify the SELLER in writing or by letter sent by telefax or email confirmed in writing, and such cancellation and/or rescission and/or cancellation shall be effective as of the date the notice thereof is received by the SELLER.