Common use of Construction Supervision Clause in Contracts

Construction Supervision. (a) The Owner shall give to the Facility Agent and the Technical Adviser notice of any meetings of the Owner or the Owner’s representatives with the Builder or between the Owner or the Owner’s representatives and any Charterer or the Charterer’s representatives where material divergence from the Specification (as defined in the Shipbuilding Contract) is being discussed. Following any such meeting, the Owner shall notify the Facility Agent and the Technical Adviser of the outcome of such meeting. Such advance notice and notice of the outcome shall be contained in the quarterly technical reports referred to in Clause 15.3(d). (b) The Owner shall make reasonable efforts to obtain the Builder’s consent so that the Facility Agent (at the Facility Agent’s own risk and expense) or its representative has a right to attend, in a capacity as an observer only, the shipyard on an occasional basis and to be present at the sea trials and first drill trial of the Vessel. (c) The Owner will give reasonable notice to the Facility Agent of the time and location of any of the meetings, trials and voyages referred to in paragraph (b) above.

Appears in 5 contracts

Samples: Credit Facility Agreement (Ocean Rig UDW Inc.), Credit Facility Agreement (DryShips Inc.), Credit Facility Agreement (DryShips Inc.)

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Construction Supervision. (a) The Owner shall give to the Facility Agent and the Technical Adviser notice of any meetings of the Owner or the Owner’s 's representatives with the Builder or between the Owner or the Owner’s 's representatives and any Charterer or the Charterer’s 's representatives where material divergence from the Specification (as defined in the Shipbuilding Contract) is being discussed. Following any such meeting, the Owner shall notify the Facility Agent and the Technical Adviser of the outcome of such meeting. Such advance notice and notice of the outcome shall be contained in the quarterly technical reports referred to in Clause 15.3(d). (b) The Owner shall make reasonable efforts to obtain the Builder’s 's consent so that the Facility Agent (at the Facility Agent’s 's own risk and expense) or its representative has a right to attend, in a capacity as an observer only, the shipyard on an occasional basis and to be present at the sea trials and first drill trial of the Vessel. (c) The Owner will give reasonable notice to the Facility Agent of the time and location of any of the meetings, trials and voyages referred to in paragraph (b) above.

Appears in 2 contracts

Samples: Credit Facility Agreement (Ocean Rig UDW Inc.), Credit Facility Agreement (Ocean Rig UDW Inc.)

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Construction Supervision. (a) The Owner shall give to the Facility Agent and the Technical Adviser notice of any meetings of the Owner or the Owner’s representatives with the Builder or between the Owner or the Owner’s representatives and any Charterer or the Charterer’s representatives where material divergence from the Specification (as defined in the Shipbuilding Contract) is being discussed. Following any such meeting, the Owner shall notify the Facility Agent and the Technical Technical. Adviser of the outcome of such meeting. Such advance notice and notice of the outcome shall be contained in the quarterly technical reports referred to in Clause 15.3(d). (b) The Owner shall make reasonable efforts to obtain the Builder’s consent so that the Facility Agent (at the Facility Agent’s own risk and expense) or its representative has a right to attend, in a capacity as an observer only, the shipyard on an occasional basis and to be present at the sea trials and first drill trial of the Vessel. (c) The Owner will give reasonable notice to the Facility Agent of the time and location of any of the meetings, trials and voyages referred to in paragraph (b) above.

Appears in 1 contract

Samples: Credit Agreement (Ocean Rig UDW Inc.)

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