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 One Thousand One Hundred United States 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 One Million Two Hundred and Ten Thousand United States Dollars (US$ 1,210,000.-).

Deadweight. (a) In the event that the actual deadweight of the VESSEL as determined in accordance with the SPECIFICATIONS Specifications is less than the guaranteed deadweight as specified in Paragraph 2 of Article IGuaranteed Deadweight, the Contract Price shall be reduced by the sum of One Thousand One Six Hundred United States Dollars (US$ 1,100.-US$600) for each full metric ton of such deficiency being more than Seven One Thousand Five Hundred (7001,500) metric tons, up to a maximum reduction of One Million Two Hundred and Ten Thousand United States Dollars (US$ 1,210,000.-).