Common use of Deadweight Clause in Contracts

Deadweight. (a) In the event that the deadweight of the VESSEL as determined in accordance with the SPECIFICATIONS is less than the guaranteed deadweight as specified in Paragraph 2 of Article I, the Contract Price shall be reduced by the sum of Xxx Xxxxxxxx Xxx Xxxxxxx Xxxxxx Xxxxxx Dollars (US$ 1,100.-) for each full metric ton of such deficiency being more than Seven Hundred (700) metric tons, up to a maximum reduction of Xxx Xxxxxxx Xxx Xxxxxxx xxx Xxx Xxxxxxxx Xxxxxx Xxxxxx Dollars (US$ 1,210,000.-).