DEFINITION OF PERMISSIBLE DELAYS. Delays on account of the foregoing Paragraph 1 of this Article and any other Paragraph of this CONTRACT which expressly permits an extension of the DELIVERY DATE shall be understood to be permissible delays, and are to be distinguished from non-permissible unauthorised delays on account of which the CONTRACT PRICE of the VESSEL is subject to adjustment as provided in Article III hereof.
Appears in 3 contracts
Samples: Shipbuilding Contract (Seaspan CORP), Shipbuilding Contract (Seaspan CORP), Shipbuilding Contract (Seaspan CORP)
DEFINITION OF PERMISSIBLE DELAYS. Delays on account of the foregoing Paragraph 1 of this Article and any other Paragraph of this CONTRACT which expressly permits an extension of the DELIVERY DATE shall be understood to be permissible delays, and are to be distinguished from non-permissible unauthorised unauthorized delays on account of which the CONTRACT PRICE of the VESSEL is subject to adjustment as provided in Article III hereof.
Appears in 1 contract
Samples: Shipbuilding Contract (Seaspan CORP)
