Common use of Change in Class, etc Clause in Contracts

Change in Class, etc. In the event that, after the Construction Commencement Date of the first Millennium ExD semi-submersible drilling unit to be constructed by BUILDER for BUYER, any requirements as to Class, or as to rules and regulations to which the construction of the VESSEL is required to conform are altered or changed by the Classification Society or other regulatory bodies authorized to make such alterations or changes, then either of the parties hereto, upon receipt of such information from the Classification Society or such other regulatory bodies, shall promptly transmit the same to the other in writing, and the BUILDER shall thereupon incorporate such alterations or changes into the construction of the VESSEL. Any alterations in the Delivery Date as 12 may be mutually agreed in writing as a result of such changes shall be understood to be Permissible Delays as contemplated by Article III, Paragraph 2. However, in the event the parties are unable to agree upon any adjustment to the Contract Price or the Delivery Date, BUILDER shall proceed with such alterations and/or changes, as aforesaid, and any area of disagreement that cannot subsequently be resolved between BUYER and BUILDER shall be resolved in accordance with Paragraph 4 of this Article.

Change in Class, etc. In the event that, after the Construction Commencement Date of the first Millennium ExD semiJU2000 jack-submersible up drilling unit to be constructed by BUILDER for BUYER, any requirements as to Class, or as to rules and regulations to which the construction of the VESSEL is required to conform are altered or changed by the Classification Society or other regulatory bodies authorized to make such alterations or changes, then either of the parties hereto, upon receipt of such information from the Classification Society or such other regulatory bodies, shall promptly transmit the same to the other in writing, and the BUILDER shall thereupon incorporate such alterations or changes into the construction of the VESSEL. Any alterations in the Delivery Date as 12 may be mutually agreed in writing as a result of such changes shall be understood to be Permissible Delays as contemplated by Article III, Paragraph 2. However, in the event the parties are unable to agree upon any adjustment to the Contract Price or the Delivery Date, BUILDER shall proceed with such alterations and/or changes, as aforesaid, and any area of disagreement that cannot subsequently be resolved between BUYER and BUILDER shall be resolved in accordance with Paragraph 4 of this Article.resolved

Change in Class, etc. In the event that, after the Construction Commencement Date of the first Millennium ExD semi-submersible drilling unit to be constructed by BUILDER for BUYER, any requirements as to Class, or as to rules and regulations to which the construction of the VESSEL is required to conform are altered or changed by the Classification Society or other regulatory bodies authorized to make such alterations or changes, then either of the parties hereto, upon receipt of such information from the Classification Society or such other regulatory bodies, shall promptly transmit the same to the other in writing, and the BUILDER shall thereupon incorporate such alterations or changes into the construction of the VESSEL. Any alterations in the Delivery Date as 12 may be mutually agreed in writing as a result of such changes shall be understood to be Permissible Delays as contemplated by Article III, Paragraph 2. However, in the event the parties are unable to agree upon any adjustment to the Contract Price or the Delivery Date, BUILDER shall proceed with such alterations and/or changes, as aforesaid, and any area of disagreement that cannot subsequently be resolved between BUYER and BUILDER shall be resolved in accordance with Paragraph 4 of this Article.

Change in Class, etc. 13 17 In the event that, after the Construction Commencement Date of the first Millennium ExD semiJU2000 jack-submersible up drilling unit to be constructed by BUILDER for BUYER, any requirements as to Class, or as to rules and regulations to which the construction of the VESSEL is required to conform are altered or changed by the Classification Society or other regulatory bodies authorized to make such alterations or changes, then either of the parties hereto, upon receipt of such information from the Classification Society or such other regulatory bodies, shall promptly transmit the same to the other in writing, and the BUILDER shall thereupon incorporate such alterations or changes into the construction of the VESSEL. Any alterations in the Delivery Date as 12 may be mutually agreed in writing as a result of such changes shall be understood to be Permissible Delays as contemplated by Article III, Paragraph 2. However, in the event the parties are unable to agree upon any adjustment to the Contract Price or the Delivery Date, BUILDER shall proceed with such alterations and/or changes, as aforesaid, and any area of disagreement that cannot subsequently be resolved between BUYER and BUILDER shall be resolved in accordance with Paragraph 4 of this Article.