Common use of DELAY IN DELIVERY AND DEFICIENCIES Clause in Contracts

DELAY IN DELIVERY AND DEFICIENCIES. 11.1 If the Vessel is delivered later than the Delivery Date, the Builder shall not be required to pay any liquidated damages for the first fifteen (15) days thereafter. The Builder shall then pay to the Owner US$2,000/- per day for each day of further delay as liquidated damages if delivery takes place beyond the above mentioned period. The Owner may not claim on account of any delay compensation over and above said liquidated damages or make any other claim on account of any delay. If the delay in delivery of the Vessel for which the Builder is responsible shall continue for period of more than forty five (45) days beyond the Delivery Date as stipulated in Article 3.1 or if the total cumulative delay in delivery including delays due to force majeure or other reasons or circumstances whatsoever within or beyond the control of the Builder totals more than ninety (90) days counted from the Delivery Date the Owner shall be entitled at its option to :

DELAY IN DELIVERY AND DEFICIENCIES. 11.1 If the Vessel is delivered later than the Delivery Date, the Builder shall not be required to pay any liquidated damages for the first fifteen (15) days thereafter. The Builder shall then pay to the Owner US$2,000/- per day for each day of further delay as liquidated damages if delivery takes place beyond the above mentioned period. The Owner may not claim on account of any delay compensation over and above said liquidated damages or make any other claim on account of any delay. If the delay in delivery of the Vessel for which the Builder is responsible shall continue for period of more than forty five (45) days beyond the Delivery Date as stipulated in Article 3.1 or if the total cumulative delay in delivery including delays due to force majeure or other reasons or circumstances whatsoever within or beyond the control of the Builder totals more than ninety (90) days counted from the Delivery Date the Owner shall be entitled at its option to to: