Common use of DELAY NOTICES Clause in Contracts

DELAY NOTICES. 2.1 The Builder shall give written notice to the Buyer of a cause of delay pursuant to Clause 1.3 as soon as practicable and no later than five (5) days after the date on which the Builder first has knowledge of such cause of delay and in such notice the Builder shall describe the cause of the delay, the date of commencement (or first occurrence) of the cause, its expected duration and its expected effect on the Builder’s ability to carry on with the building work. 2.2 The Builder will provide the Buyer with regular written status reports (at such reasonable intervals as the Buyer may request) with respect to any delay in respect of which the Builder has given notice pursuant to Clause 2.1 and as to the steps being taken (and planned) by the Builder to minimise and overcome any actual delay in delivery of the Ship. 2.3 Within five (5) days after any cause of delay set forth in Clause 1.3 has ceased to exist, the Builder shall notify the Buyer of such cessation and give the Buyer a written statement of the actual or estimated delay in the completion of the building work resulting from such cause together with such detailed documentation as is then available to it justifying such extension, and any such detailed documentation thereafter becoming available to the Builder shall be promptly be given to the Buyer. 2.4 On the basis of the notices, reports, statements and information given to the Buyer by the Builder relating to any actual or estimated delay in delivery (and such further information and documentation as the Buyer may reasonably request), the Buyer and the Builder shall confer and attempt to agree upon the number of days by which the Delivery Date shall be extended provided that if the Buyer and the Builder cannot so agree within thirty (30) days after the completion of any such conference, the extension of the Delivery Date (if any) shall be determined as a Dispute pursuant to the provisions of Article 13. 2.5 The extension of the Delivery Date provided for in this Article shall be the only remedy for delay to which the Builder shall be entitled and, by way of illustration but not limitation, the Builder shall not be entitled to damages or any adjustment in the Contract Price.

DELAY NOTICES. 2.1 The Builder shall give written notice to the Buyer of a cause of delay pursuant to Clause 1.3 as soon as practicable and no later than five (5) days after the date on which the Builder first has knowledge of such cause of delay and in such notice the Builder shall describe the cause of the delay, the date of commencement (or first occurrence) of the cause, its expected duration and its expected effect on the Builder’s 's ability to carry on with the building work. 2.2 The Builder will provide the Buyer with regular written status reports (at such reasonable intervals as the Buyer may request) with respect to any delay in respect of which the Builder has given notice pursuant to Clause 2.1 and as to the steps being taken (and planned) by the Builder to minimise and overcome any actual delay in delivery of the Ship. 2.3 Within five (5) days after any cause of delay set forth in Clause 1.3 has ceased to exist, the Builder shall notify the Buyer of such cessation and give the Buyer a written statement of the actual or estimated delay in the completion of the building work resulting from such cause together with such detailed documentation as is then available to it justifying such extension, and any such detailed documentation thereafter becoming available to the Builder shall be promptly be given to the Buyer. 2.4 On the basis of the notices, reports, statements and information given to the Buyer by the Builder relating to any actual or estimated delay in delivery (and such further information and documentation as the Buyer may reasonably request), the Buyer and the Builder shall confer and attempt to agree upon the number of days by which the Delivery Date shall be extended provided that if the Buyer and the Builder cannot so agree within thirty (30) days after the completion of any such conference, the extension of the Delivery Date (if any) shall be determined as a Dispute pursuant to the provisions of Article 13. 2.5 The extension of the Delivery Date provided for in this Article shall be the only remedy for delay to which the Builder shall be entitled and, by way of illustration but not limitation, the Builder shall not be entitled to damages or any adjustment in the Contract Price.

DELAY NOTICES. 2.1 The Builder shall give written notice to the Buyer of a cause of delay pursuant to Clause clause 1.3 as soon as practicable and no later than five (5) days after the date on which the Builder first has knowledge of such cause of delay and in such notice the Builder shall describe the cause of the delay, the date of commencement (or first occurrence) of the cause, its expected duration and its expected effect on the Builder’s 's ability to carry on with the building work. 2.2 The Builder will provide the Buyer with regular written status reports (at such reasonable intervals as the Buyer may request) with respect to any delay in respect of which the Builder has given notice pursuant to Clause clause 2.1 and as to the steps being taken (and planned) by the Builder to minimise and overcome any actual delay in delivery of the Ship. 2.3 Within five (5) days after any cause of delay set forth in Clause clause 1.3 has ceased to exist, the Builder shall notify the Buyer of such cessation and give the Buyer a written statement of the actual or estimated delay in the completion of the building work resulting from such cause together with such detailed documentation as is then available to it justifying such extension, and any such detailed documentation thereafter becoming available to the Builder shall be promptly be given to the Buyer. 2.4 On the basis of the notices, reports, statements and information given to the Buyer by the Builder relating to any actual or estimated delay in delivery (and such further information and documentation as the Buyer may reasonably request), the Buyer and the Builder shall confer and attempt to agree upon the number of days by which the Delivery Date shall be extended provided that if the Buyer and the Builder cannot so agree within thirty (30) days after the completion of any such conference, the extension of the Delivery Date (if any) shall be determined as a Dispute dispute pursuant to the provisions of Article 13. 2.5 The extension of the Delivery Date provided for in this Article shall be the only remedy for delay to which the Builder shall be entitled and, by way of illustration but not limitation, the Builder shall not be entitled to damages or any adjustment in the Contract Price.. (END OF ARTICLE 5) FIRST ORIGINAL

DELAY NOTICES. 2.1 The Builder shall give written notice to the Buyer of a cause of delay contingency pursuant to Clause 1.3 as soon as practicable and no later than five (5) days after the date on which the Builder first has knowledge of such cause of delay contingency and in such notice the Builder shall describe the cause of the delay, the date of commencement (or first occurrence) of the cause, its expected duration and its expected effect on Work in the Builder’s ability to carry on with updated critical path of delivery of the building workShip. 2.2 The Builder will provide the Buyer with regular written status reports (at such reasonable intervals as the Buyer may request) with respect to any delay in respect of which the Builder has given notice pursuant to Clause 2.1 and as to the steps being taken (and planned) by the Builder to minimise and overcome any actual delay in delivery of the Ship. 2.3 Within five (5) days after any cause of delay set forth in Clause 1.3 has ceased to exist, the Builder shall notify the Buyer of such cessation and give the Buyer a written statement of the actual or estimated delay in the completion of the building work Work resulting from such cause together with such detailed information and documentation as is then available to it justifying such extension, and any such detailed information and documentation thereafter becoming available to the Builder shall be promptly be given to the Buyer. 2.4 On the basis of the notices, reports, statements and information given to the Buyer by the Builder relating to any actual or estimated delay in delivery (and such further information and documentation as the Buyer may reasonably request), the Buyer and the Builder shall confer and attempt to agree upon the number of days by which the Delivery Date shall be extended provided that if the Buyer and the Builder cannot so agree within thirty (30) days after the completion of any such conference, the extension of the Delivery Date (if any) shall be determined as a Dispute pursuant to the provisions of Article 13. 2.5 The extension of the Delivery Date provided for in this Article shall be the only remedy for delay to which the Builder shall be entitled (subject and without prejudice to the express provisions of Article 6, Clauses 1.4 and 1.5) and, by way of illustration but not limitation, the Builder shall not be entitled to damages or any adjustment increase in the Contract Price.Price or other compensation for delay. (End of Article 5)

DELAY NOTICES. 2.1 The Builder shall give written notice to the Buyer of a cause of delay pursuant to Clause 1.3 as soon as practicable and no later than five (5) days after the date on which the Builder first has knowledge of such cause of delay and in such notice the Builder shall describe the cause of the delay, the date of commencement (or first occurrence) of the cause, its expected duration and its expected effect on the Builder’s 's ability to carry on with the building work. 2.2 The Builder will provide the Buyer with regular written status reports (at such reasonable intervals as the Buyer may request) with respect to any delay in respect of which the Builder has given notice pursuant to Clause 2.1 and as to the steps being taken (and planned) by the Builder to minimise and overcome any actual delay in delivery of the Ship. 2.3 Within five (5) days after any cause of delay set forth in Clause 1.3 has ceased to exist, the Builder shall notify the Buyer of such cessation and give the Buyer a written statement of the actual or estimated delay in the completion of the building work resulting from such cause together with such detailed documentation as is then available to it justifying such extension, and any such detailed documentation thereafter becoming available to the Builder shall be promptly be given to the Buyer. 2.4 On the basis of the notices, reports, statements and information given to the Buyer by the Builder relating to any actual or estimated delay in delivery (and such further information and documentation as the Buyer may reasonably request), the Buyer and the Builder shall confer and attempt to agree upon the number of days by which the Delivery Date shall be extended provided that if the Buyer and the Builder cannot so agree within thirty (30) days after the completion of any such conference, the extension of the Delivery Date (if any) shall be determined as a Dispute pursuant to the provisions of Article 13. 2.5 The extension of the Delivery Date provided for in this Article shall be the only remedy for delay to which the Builder shall be entitled and, by way of illustration but not limitation, the Builder shall not be entitled to damages or any adjustment in the Contract Price.. (END OF ARTICLE 5) FIRST ORIGINAL

DELAY NOTICES. 2.1 The Builder shall give (i) If the Buyer determines in its reasonable judgment that the filing or effectiveness of, or sales pursuant to, any Shelf Registration Statement would require the Buyer to disclose any pending or anticipated acquisition or corporate reorganization, financing or other transaction or development involving the Buyer or any of its Subsidiaries and such public disclosure would be materially disadvantageous (a "Material Development Condition") to the Buyer, the Buyer may, at its option, notwithstanding any other provision of this Agreement, upon the delivery or transmission of a written notice from the Buyer (a "Delay Notice") to such effect to the Buyer holders of a cause Registrable Securities covered by such Shelf Registration Statement (A) to delay the filing or the effectiveness of, or suspend sales pursuant to, such Shelf Registration Statement until the earlier of delay pursuant to Clause 1.3 as soon as practicable and no later than five ninety (590) days after the date on which the Builder first has knowledge of such cause of delay and in such notice the Builder shall describe the cause of the delayDelay Notice or the date that the Material Development Condition ceases to exist or (B) to the extent required by applicable law, cause such Shelf Registration Statement to be withdrawn. In the event a Shelf Registration Statement is filed and subsequently suspended or withdrawn by reason of any Material Development Condition as provided herein, the Buyer shall either update the existing Shelf Registration Statement as required by applicable law or cause a new Shelf Registration Statement to be filed with the SEC not later than the earlier of ninety (90) days after the date of commencement the Delay Notice or the date on which such Material Development Condition ceases to exist and, if applicable, to use its commercially reasonable efforts to cause such new Shelf Registration Statement to become effective as soon as practicable after such Material Development Condition ceases to exist. The Buyer may only deliver one Delay Notice during any three hundred sixty-five (or first occurrence365) of the cause, its expected duration and its expected effect on the Builder’s ability to carry on with the building workday period. 2.2 The Builder will provide the Buyer with regular written status reports (at such reasonable intervals as the Buyer may requestii) with respect to any delay in respect of which the Builder has given notice pursuant to Clause 2.1 and as to the steps being taken (and planned) by the Builder to minimise and overcome any actual delay in delivery of the Ship. 2.3 Within five (5) days after any cause of delay set forth in Clause 1.3 has ceased to existEach Seller agrees that, the Builder shall notify upon receipt from the Buyer of a Delay Notice, such cessation and give Seller will immediately discontinue sales of Registrable Securities pursuant to any Shelf Registration Statement until (A) the Sellers are advised in writing by the Buyer a written statement that the use of the actual or estimated delay in the completion of the building work resulting from such cause together with such detailed documentation as is then available to it justifying such extension, and any such detailed documentation thereafter becoming available prospectus relating to the Builder shall applicable Shelf Registration Statement may be promptly be given resumed and, if applicable, the Sellers receive copies of any required supplement or amendment to such prospectus or (B) the BuyerSellers are advised in writing by the Buyer that a new Shelf Registration Statement has become effective under the Securities Act and the Sellers receive copies of any required prospectus. 2.4 On the basis of the notices, reports, statements (iii) Subject to Sections 2(a) and information given to the Buyer by the Builder relating to any actual or estimated delay in delivery (and such further information and documentation as the Buyer may reasonably request2(b)(i), the Buyer and will immediately notify the Builder shall confer and attempt to agree upon Sellers of the number happening of days by any event, as a result of which the Delivery Date prospectus included or to be included in a Shelf Registration Statement includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances then existing, not misleading. The Sellers will immediately discontinue sales of Registrable Securities pursuant to such Shelf Registration Statement. Subject to Sections 2(a) and 2(b)(i), the Buyer will, as promptly as practicable, revise such prospectus as may be necessary so that such prospectus shall not include such an untrue statement of a material fact or omit to state such a material fact required to be extended stated therein or necessary to make the statements therein, in the light of the circumstances then existing, not misleading. The Buyer will, as promptly as practicable, deliver copies of such revised prospectus to the Sellers. Subject to Sections 2(a) and 2(b)(i), following receipt of the revised prospectus, the Sellers will be free to resume disposition of such Registrable Securities provided that if such dispositions are within the Buyer and the Builder cannot so agree within thirty (30) days after the completion of any such conference, the extension of the Delivery Date (if any) shall be determined as time periods specified in a Dispute pursuant to the provisions of Article 13previously delivered Registration Notice. 2.5 The extension of the Delivery Date provided for in this Article shall be the only remedy for delay to which the Builder shall be entitled and, by way of illustration but not limitation, the Builder shall not be entitled to damages or any adjustment in the Contract Price.

DELAY NOTICES. 2.1 The Builder shall give written notice to the Buyer of a cause of delay pursuant to Clause 1.3 as soon as practicable and no later than five (5) days after the date on which the Builder first has knowledge of such cause of delay and in such notice the Builder shall describe the cause of the delay, the date of commencement (or first occurrence) of the cause, its expected duration and its expected effect on the Builder’s 's ability to carry on with the building work. 2.2 The Builder will provide the Buyer with regular written status reports (at such reasonable intervals as the Buyer may request) with respect to any delay in respect of which the Builder has given notice pursuant to Clause 2.1 and as to the steps being taken (and planned) by the Builder to minimise and overcome any actual delay in delivery of the Ship. 2.3 Within five (5) days after any cause of delay set forth in Clause 1.3 has ceased to exist, the Builder shall notify the Buyer of such cessation and give the Buyer a written statement of the actual or estimated delay in the completion of the building work resulting from such cause together with such detailed documentation as is then available to it justifying such extension, and any such detailed documentation thereafter becoming available to the Builder shall be promptly be given to the Buyer. 2.4 On the basis of the notices, reports, statements and information given to the Buyer by the Builder relating to any actual or estimated delay in delivery (and such further information and documentation as the Buyer may reasonably request), the Buyer and the Builder shall confer and attempt to agree upon the number of days by which the Delivery Date shall be extended provided that if the Buyer and the Builder cannot so agree within thirty (30) days after the completion of any such conference, the extension of the Delivery Date (if any) shall be determined as a Dispute pursuant to the provisions of Article 13. 2.5 The extension of the Delivery Date provided for in this Article shall be the only remedy for delay to which the fee Builder shall be entitled and, by way of illustration but not limitation, the Builder shall not be entitled to damages or any adjustment in the Contract Price.. (END OF ARTICLE 5) FIRST ORIGINAL

DELAY NOTICES. 2.1 The Builder 7.4.1 LWB shall give written notice to the Buyer Owner of a cause of delay pursuant to Clause 1.3 7.3 as soon as practicable and no later than five (5) days Days after the date on which the Builder LWB first has knowledge of such cause of delay and in such notice the Builder LWB shall describe the cause of the delay, the date of commencement (or first occurrence) of the cause, its expected duration and its expected effect on the Builder’s LWB's ability to carry on with the building workWorks. 2.2 The Builder 7.4.2 LWB will provide the Buyer Owner with regular written status reports (at such reasonable intervals as the Buyer Owner may request) with respect to any delay in respect of which the Builder LWB has given notice pursuant to Clause 2.1 7.4.1 and as to the steps being taken (and planned) by the Builder LWB to minimise and overcome any actual delay in delivery of the ShipVessel. 2.3 7.4.3 Within five (5) days Days after any cause of delay set forth in Clause 1.3 7.3 has ceased to exist, the Builder LWB shall notify the Buyer Owner of such cessation and give the Buyer Owner a written statement of the actual or estimated delay in the completion of the building work Works resulting from such cause together with such detailed documentation as is then available to it justifying such extension, and any such detailed documentation thereafter becoming available to the Builder LWB shall be promptly be given to the BuyerOwner. 2.4 7.4.4 On the basis of the notices, reports, statements and information given to the Buyer Owner by the Builder LWB relating to any actual or estimated delay in delivery redelivery (and such further information and documentation as the Buyer Owner may reasonably request), the Buyer Owner and the Builder LWB shall confer and attempt to agree upon the number of days by which the Delivery Date for Completion shall be extended provided that PROVIDED THAT if the Buyer Owner and the Builder LWB cannot so agree within thirty (30) days Days after the completion of any such conference, the extension of the Delivery Date for Completion (if any) shall be determined as a Dispute dispute pursuant to the provisions of Article 13Clause 22. 2.5 7.4.5 The extension of the Delivery Date for Completion provided for in this Article Clause shall be the only remedy for delay to which the Builder LWB shall be entitled and, by way of illustration but not limitation, the Builder LWB shall not be entitled to damages or any adjustment in the Contract Price.