Common use of Deadweight Clause in Contracts

Deadweight. (a) In the event that there is a deficiency in the actual deadweight of the VESSEL determined as provided in the Specifications, the Original Contract Price shall not be decreased, if such deficiency is six hundred (600) metric tons or less below the Guaranteed Deadweight as specified in Paragraph 6 of ARTICLE I of this Contract. (b) However, the Original Contract Price shall be reduced by the sum of United States Dollars Eight Hundred (USD500.00) for each full metric ton of such deficiency in excess of the aforesaid six hundred (600) metric tons. (c) In the event that there is a deficiency in the actual deadweight of the VESSEL which exceeds One Thousand and Six Hundred (1600) metric tons below the Guaranteed Deadweight, the BUYER may, at its option, reject the VESSEL and rescind this Contract in accordance with the provisions of ARTICLE X of this Contract, or may accept the VESSEL with reduction in the Original Contract Price in the maximum amount of United States Dollars Five Hundred Thousand Only (USD500,000.00).

Deadweight. (a) In the event that there is a deficiency in the actual deadweight of the VESSEL determined as provided in the Specifications, the Original Contract Price shall not be decreased, decreased if such deficiency is six hundred Two Thousand and One Hundred (6002,100) metric tons or less below the Guaranteed Deadweight as specified in Paragraph clause 6 of ARTICLE (a), Article I of this Contract. (b) However, the Original Contract Price shall be reduced decreased by the sum of United States Dollars Eight Five Hundred only (USD500.00US$500) for each full metric ton of such deficiency in excess of the aforesaid six hundred Two Thousand and One Hundred (6002,100) metric tons. (c) In the event that there is of a deficiency in the VESSEL’s actual deadweight in excess of the VESSEL which exceeds One Four Thousand and Six Two Hundred (16004,200) metric tons below the Guaranteed Deadweight, the BUYER may, at its option, reject the VESSEL and rescind this Contract in accordance with the provisions of ARTICLE Article X of this Contract, or may accept the VESSEL with at a reduction in the Original Contract Price in the maximum amount of up to United States Dollars Five Hundred One Million Fifty Thousand Only (USD500,000.00)US$1,050,000) in the Contract Price being the maximum.