Common use of Deadweight Clause in Contracts

Deadweight. (a) The Contract Price shall not be affected or changed by reason of a deficiency in the actual deadweight of the Vessel, being not more than Two Thousand (2,000) metric tons below the guaranteed deadweight at the xxxxxxxxx draft in the conditions as set out in the Specifications. (b) If the deficiency in the actual deadweight of the Vessel exceeds Two Thousand (2,000) metric tons below the guaranteed deadweight at the xxxxxxxxx draft, the Contract Price shall be reduced by the sum of United States Dollars One Thousand Four Hundred only (USD1,400) for each full metric ton of such deficiency in excess of Two Thousand (2,000) metric tons (but disregarding fractions of a ton) up to a maximum deficiency of Five Thousand (5,000) metric tons. (c) If the deficiency in the actual deadweight of Vessel is more than Five Thousand (5,000) metric tons below the guaranteed deadweight at the xxxxxxxxx draft, then, Buyer may, at its option, reject the Vessel in accordance with Article VI.4 and terminate this Contract in accordance with the provisions of Article X, or accept the Vessel with a total reduction in the Contract Price of United States Dollars Four Million Two Hundred Thousand only (USD4,200,000.-).