DEFAULT BEFORE DELIVERY OF THE VESSEL. (a) If any default by the BUYER occurs as defined in Paragraph 1 (a) or 1 (b) or 1 (c) of this Article, the Delivery Date shall, at the SELLER's option, be postponed for a period of continuance of such default by the BUYER.
Appears in 7 contracts
Samples: Shipbuilding Contract (TBS International PLC), Contract (TBS International LTD), Contract (TBS International LTD)
DEFAULT BEFORE DELIVERY OF THE VESSEL. (a) If any default by the BUYER occurs as defined in Paragraph 1 (a) or 1 (b) or 1 (c) of this Article, the Delivery Date shall, at provided the SELLER's optionSELLER services notices in accordance with Article VIII Paragraph 3, be automatically postponed for a period of continuance of such default by the BUYER and/or at the BUILDER’s option, the BUILDER is further entitled to suspend the performance of the Contract (including work and construction hereof) until the rectification of such default by the BUYER.
Appears in 3 contracts
Samples: Shipbuilding Contract (Paragon Shipping Inc.), Shipbuilding Contract (Paragon Shipping Inc.), Shipbuilding Contract (Paragon Shipping Inc.)
DEFAULT BEFORE DELIVERY OF THE VESSEL. (a) If any default by the BUYER occurs as defined in Paragraph 1 (a) or 1 (b) or 1 (c) or 1 (d) of this Article, the Delivery Date shall, at the SELLER's ’s option, be postponed for a period of continuance of such default by the BUYER.
Appears in 2 contracts
Samples: Contract (Himalaya Shipping Ltd.), Contract (Himalaya Shipping Ltd.)
DEFAULT BEFORE DELIVERY OF THE VESSEL. (a) If any default by the BUYER occurs as defined in Paragraph 1 (a) or 1 (b) or 1 (c) of this Article, the Delivery Date shall, at the SELLER's ’s option, be he postponed for a period of continuance of such default by the BUYER.
Appears in 2 contracts
Samples: Aegean Marine Petroleum Network Inc., Aegean Marine Petroleum Network Inc.
DEFAULT BEFORE DELIVERY OF THE VESSEL. (a) If any default by the BUYER occurs as defined in Paragraph 1 (a) or 1 (b) or 1 (c) of this Article, the Delivery Date shall, at the SELLER's ’s option, be postponed for a period of continuance of such default by the BUYER.
Appears in 2 contracts
Samples: Shipbuilding Contract (Aegean Marine Petroleum Network Inc.), Form of Shipbuilding Contract (Aegean Marine Petroleum Network Inc.)
DEFAULT BEFORE DELIVERY OF THE VESSEL. (a) If any default by the BUYER occurs as defined in Paragraph 1 (a) or 1 (b) or 1 (c) or 1 (d) of this Article, the Delivery Date shall, at the SELLER's option, be postponed for a period of continuance of such default by the BUYER.
Appears in 1 contract
DEFAULT BEFORE DELIVERY OF THE VESSEL. (a) If any default by the BUYER occurs as defined in Paragraph 1 (a) or 1 (b) or 1 (c) of this Article, the Delivery Date shall, at the SELLER's option, ’s option be postponed for a period of continuance of such default by the BUYER.
Appears in 1 contract
Samples: Shipbuilding Contract (Aegean Marine Petroleum Network Inc.)
DEFAULT BEFORE DELIVERY OF THE VESSEL. (a) If any default by the BUYER occurs as defined in Paragraph 1 I (a) or 1 (b) or 1 (c) of this Article, the Delivery Date shall, at the SELLER's ’s option, be postponed for a period of continuance of such default by the BUYER.
Appears in 1 contract
DEFAULT BEFORE DELIVERY OF THE VESSEL. (a) If any default by the BUYER occurs as defined in Paragraph 1 (a) or 1 (b) or 1 (c) of this Article, and provided the SELLER has given notice to the BUYER as required by Paragraph 2 above by letter sent by telefax or email the Delivery Date shall, at the SELLER's ’s option, be postponed for a period of continuance of such default by the BUYER.
Appears in 1 contract
DEFAULT BEFORE DELIVERY OF THE VESSEL. (a) If any default by the BUYER occurs as defined in Paragraph 1 (a1(a) or 1 (b1(b) or 1 (c1(c) of this Article, the Delivery Date shall, at the SELLER's ’s option, be postponed for a period of continuance of such default by the BUYER.
Appears in 1 contract
