Common use of Change in Class Clause in Contracts

Change in Class. In the event that, after the date of this Contract, any requirements as to class, or as to rules and regulations (or the interpretation thereof) to which the construction of the Vessel are required to conform, are altered or changed by the Classification Society, the US Coast Guard or any other regulatory bodies authorized to make such alterations or changes, the following provisions shall apply: 1. If such alterations or changes are compulsory for the Vessel, either of the parties hereto, upon receipt of such information from the Classification Society, the US Coast Guard or such other regulatory bodies, shall promptly transmit the same to the other in writing, and Builder shall thereupon incorporate such alterations or changes to the construction of the Vessel, provided that Buyer shall first agree to adjustments required by Builder in the Contract Price, the Delivery Date and other terms and conditions of this Contract and the Specifications occasioned by or resulting from such alterations or changes. 2. If such alterations or changes are not compulsory for the Vessel, but Buyer desires to incorporate such alterations or changes into the construction of the Vessel, then, Buyer shall notify Builder of such intention. Builder must accept such alterations or changes, provided that such alterations or changes will not, in the reasonable judgment of Builder, adversely affect Builder’s planning or program in relation to Builder’s other commitments, and provided, further, that Buyer shall first agree to adjustments required by Builder in the Contract Price, the Delivery Date and other terms and conditions of this Contract and the Specifications occasioned by or resulting from such alterations or changes. Agreements as to such alterations or changes under this Article shall be made in the same manner as provided in Article A of this Article for modifications or changes to the Specifications.

Change in Class. In the event that, after the date of this Contract, any requirements as to class, or as to rules and regulations (or the interpretation thereof) to which the construction of the Vessel are is required to conform, conform are altered or changed by the Classification Society, Society or the US Coast Guard or any other regulatory bodies authorized to make such alterations or changes, the following provisions shall apply: 1. (a) If such alterations or changes are compulsory for the Vessel, either of the parties hereto, upon receipt of such information from the Classification Society, the US Coast Guard Society or such other regulatory bodies, shall promptly transmit the same to the other in writing, and Builder the Seller shall thereupon cause the Builder to incorporate such alterations or changes to into the construction of the Vessel, provided that the Buyer shall first agree to adjustments required by Builder the Seller in the Purchase Price, the Delivery Date and other terms and conditions of this Contract and the Specifications occasioned by or resulting from such alterations or change. (b) If such alterations or changes are not compulsory for the Vessel, but the Buyer desires to incorporate such alterations or changes into the construction of the Vessel, then, the Buyer shall notify the Seller of such intentions. The Seller may accept such alterations or changes if they will not, in the judgment of the Seller, adversely affect the Builder's planning or program in relation to the Seller's other commitments, and provided, further, that the Buyer shall first agree to adjustments required by the Seller in the Purchase Price, the Delivery Date and other terms and conditions of this Contract and the Specifications occasioned by or resulting from such alterations or changes. 2. If such alterations or changes are not compulsory for the Vessel, but Buyer desires to incorporate such alterations or changes into the construction of the Vessel, then, Buyer shall notify Builder of such intention. Builder must accept such alterations or changes, provided that such alterations or changes will not, in the reasonable judgment of Builder, adversely affect Builder’s planning or program in relation to Builder’s other commitments, and provided, further, that Buyer shall first agree to adjustments required by Builder in the Contract Price, the Delivery Date and other terms and conditions of this Contract and the Specifications occasioned by or resulting from such alterations or changes. Agreements as to such alterations or changes under this Article shall be made in the same manner as provided in Article A of this Article for modifications or changes to the Specifications.

Change in Class. In the event that, after the date of this Contract, any requirements as to class, or as to rules and regulations (or the interpretation thereof) to which the construction of the Vessel are is required to conform, conform are altered or changed by the Classification Society, Society or the US Coast Guard or any other regulatory bodies authorized to make such alterations or changes, the following provisions shall apply: 1. (a) If such alterations or changes are compulsory for the Vessel, either of the parties hereto, upon receipt of such information from the Classification Society, the US Coast Guard Society or such other regulatory bodies, shall promptly transmit the same to the other in writing, and Builder the Seller shall thereupon cause the Builder to incorporate such alterations or changes to into the construction of the Vessel, provided that the Buyer shall first agree to adjustments required by Builder the Seller in the Purchase Price, the Delivery Date and other terms and conditions of this Contract and the Specifications occasioned by or resulting from such alterations or change. (b) If such alterations or changes are not compulsory for the Vessel, but the Buyer {N1783113.1.2} desires to incorporate such alterations or changes into the construction of the Vessel, then, the Buyer shall notify the Seller of such intentions. The Seller may accept such alterations or changes if they will not, in the judgment of the Seller, adversely affect the Builder's planning or program in relation to the Seller's other commitments, and provided, further, that the Buyer shall first agree to adjustments required by the Seller in the Purchase Price, the Delivery Date and other terms and conditions of this Contract and the Specifications occasioned by or resulting from such alterations or changes. 2. If such alterations or changes are not compulsory for the Vessel, but Buyer desires to incorporate such alterations or changes into the construction of the Vessel, then, Buyer shall notify Builder of such intention. Builder must accept such alterations or changes, provided that such alterations or changes will not, in the reasonable judgment of Builder, adversely affect Builder’s planning or program in relation to Builder’s other commitments, and provided, further, that Buyer shall first agree to adjustments required by Builder in the Contract Price, the Delivery Date and other terms and conditions of this Contract and the Specifications occasioned by or resulting from such alterations or changes. Agreements as to such alterations or changes under this Article shall be made in the same manner as provided in Article A of this Article for modifications or changes to the Specifications.

Change in Class. In the event that, after the date of this Contract, any requirements as to class, or as to rules and regulations (or the interpretation thereof) to which the construction of the Vessel Units are required to conform, are altered or changed by the Classification Society, the US Coast Guard or any other regulatory bodies authorized to make such alterations or changes, the following provisions shall apply: 1. If such alterations or changes are compulsory for the VesselUnits, either of the parties hereto, upon receipt of such information from the Classification Society, the US Coast Guard or such other regulatory bodies, shall promptly transmit the same to the other in writing, and Builder shall thereupon incorporate such alterations or changes to the construction of the VesselUnits, provided that Buyer shall first agree to adjustments required by Builder in the Contract Price, the Delivery Date and other terms and conditions of this Contract and the Specifications occasioned by or resulting from such alterations or changes. 2. If such alterations or changes are not compulsory for the VesselUnits, but Buyer desires to incorporate such alterations or changes into the construction of the VesselUnits, then, Buyer shall notify Builder of such intention. Builder must may accept such alterations or changes, provided that such alterations or changes will not, in the reasonable judgment of Builder, adversely affect Builder’s planning or program in relation to Builder’s other commitments, and provided, further, that Buyer shall first agree to adjustments required by Builder in the Contract Price, the Delivery Date and other terms and conditions of this Contract and the Specifications occasioned by or resulting from such alterations or changes. Agreements as to such alterations or changes under this Article Paragraph shall be made in the same manner as provided in Article Paragraph A of this Article for modifications or changes to the Specifications.. [**] Confidential Treatment 21

Change in Class. In the event that, after the date of this Contract, any requirements as to class, or as to rules and regulations (or the interpretation thereof) to which the construction of the Vessel Tugs are required to conform, are altered or changed by the Classification Society, the US Coast Guard or any other regulatory bodies authorized to make such alterations or changes, the following provisions shall apply: 1. If such alterations or changes are compulsory for the VesselTugs, either of the parties hereto, upon receipt of such information from the Classification Society, the US Coast Guard or such other regulatory bodies, shall promptly transmit the same to the other in writing, and Builder shall thereupon incorporate such alterations or changes to the construction of the VesselTugs, provided that Buyer shall first agree to adjustments required by Builder in the Contract Price, the Delivery Date and other terms and conditions of this Contract and the Specifications occasioned by or resulting from such alterations or changes. 2. If such alterations or changes are not compulsory for the VesselTugs, but Buyer desires to incorporate such alterations or changes into the construction of the VesselTugs, then, Buyer shall notify Builder of such intention. Builder must may accept such alterations or changes, provided that such alterations or changes will not, in the reasonable judgment of Builder, adversely affect Builder’s planning or program in relation to Builder’s other commitments, and provided, further, that Buyer shall first agree to adjustments required by Builder in the Contract Price, the Delivery Date and other terms and conditions of this Contract and the Specifications occasioned by or resulting from such alterations or changes. Agreements as to such alterations or changes under this Article Paragraph shall be made in the same manner as provided in Article Paragraph A of this Article for modifications or changes to the Specifications.