Common use of EFFECT OF ACCEPTANCE OR REJECTION Clause in Contracts

EFFECT OF ACCEPTANCE OR REJECTION. The Buyer’s written, e-mailed or telefaxed notification of acceptance delivered to the Builder as above provided shall be final and binding insofar as conformity of the Sea Trial Report with this Contract, the Plans and the Specifications is concerned and shall preclude the Buyer from refusing formal delivery of the Vessel as hereinafter provided, if the Builder complies with all procedural requirements of delivery, as herein set forth, and provided that, in the case of qualified acceptance, any matters which were mentioned in the notice of the qualified acceptance by the Buyer as requiring correction have been corrected satisfactorily. If the Buyer fails to notify the Builder of its acceptance or rejection of the Sea Trial Report as hereinabove provided, the Buyer shall be deemed to have accepted the Sea Trial Report. However, nothing herein shall affect the Buyer’s rights under Article 9 hereof.