Common use of CHANGES IN CONSTRUCTION CONTRACT Clause in Contracts

CHANGES IN CONSTRUCTION CONTRACT. Notwithstanding anything to the contrary contained in the Construction Contract, the Construction Contract shall not be amended, modified or terminated after April 9, 1999, except in writing duly signed by the Builder and Purchaser with the prior written consent of the Secretary, provided that the Secretary's prior written consent shall not be necessary, but written notice to the Secretary shall be given, for (a) any mandatory change to the Construction Contract as a result of any requirements of any governmental agency, or (b) any non-mandatory changes that Builder and Purchaser desire to make which do not exceed, with respect to any item of the Vessel's construction, one (1%) percent of the Vessel's Contract Price and which do not, in the aggregate, cause the Vessel's Contract Price to be increased more than five (5%) percent or the delivery and completion date of the Vessel to be extended more than ten (10) days. Notwithstanding the foregoing, no change shall be made in the general dimensions and/or characteristics of the Vessel which would diminish the capacity of the Vessel to perform as originally intended by the Construction Contract, without the prior written consent of the Secretary.

CHANGES IN CONSTRUCTION CONTRACT. Notwithstanding anything to the contrary contained in the Construction Contract, the Construction Contract shall not be amended, modified or terminated after April 9, 1999, except in writing duly signed by the Builder Shipyard and Purchaser Shipowner with the Secretary's prior written consent of the Secretaryconsent, provided that PROVIDED THAT the Secretary's prior written consent shall not be necessary, but prior written notice to the Secretary shall be given, for (a) any mandatory change changes to the Construction Contract as a result of any requirements of the classification society or any governmental agency, or (b) any non-mandatory changes that Builder Shipyard and Purchaser Shipowner desire to make which do not exceed, with respect to any item of the Vessel's construction, one (1%) percent of the Vessel's Contract Price and which do not, in the aggregate, cause the Vessel's Contract Price to be increased more than five (5%) percent or the delivery and completion date of the Vessel to be extended more than ten (10) days. Notwithstanding the foregoing, no change shall be made in the general dimensions and/or characteristics of the Vessel which would diminish the capacity of the Vessel to perform as originally intended by the Construction Contract, without the Secretary's prior written consent of the Secretaryconsent.