Disposal of DRILLSHIP. (a) In the event that this Contract is rescinded by the BUILDER under the provisions of Paragraph 2(b) of this Article, the BUILDER may, at its sole discretion, either complete the DRILLSHIP and sell the same, or sell the DRILLSHIP in its incomplete state, free of any right or claim of the BUYER. Such sale of the DRILLSHIP by the BUILDER shall be either by public auction or private contract at the BUILDER'S sole discretion and on such terms and conditions as the BUILDER shall deem fit.
Appears in 3 contracts
Samples: Construction and Sale (DryShips Inc.), Construction and Sale (DryShips Inc.), Contract (DryShips Inc.)
Disposal of DRILLSHIP. (a) In the event that this Contract is rescinded by the BUILDER under the provisions of Paragraph 2(b) of this Article, the BUILDER may, at its sole discretion, either complete the DRILLSHIP and sell the same, or sell the DRILLSHIP in its incomplete state, free of any right or claim of the BUYER. Such sale of the DRILLSHIP by the BUILDER shall be either by public auction or private contract at the BUILDER'S ’s sole discretion and on such terms and conditions as the BUILDER shall deem fit.
Appears in 2 contracts
Samples: Construction and Sale (DryShips Inc.), Construction and Sale (DryShips Inc.)
Disposal of DRILLSHIP. (a) In the event that this Contract is rescinded by the BUILDER under the provisions of Paragraph 2(b) of this Article, the BUILDER may, at its sole discretion, either complete the DRILLSHIP and sell the same, or sell the DRILLSHIP in its incomplete state, free of any right or claim of the BUYER. Such sale of the DRILLSHIP by the BUILDER shall be either by public auction or private contract at the BUILDER'S 's sole discretion and on such terms and conditions as the BUILDER shall deem fit.
Appears in 1 contract
Samples: R&b Falcon Corp