Common use of Effect of Acceptance Clause in Contracts

Effect of Acceptance. Acceptance of the Vessel as above provided shall be final and binding so far as the conformity of the Vessel to this Contract and the Specifications is concerned, and shall preclude Buyer from refusing formal delivery of the Vessel as hereinafter provided, if Builder complies with all procedural requirements for delivery of the Vessel as provided in Article VII.

Appears in 6 contracts

Samples: Shipbuilding Contract (Gener8 Maritime, Inc.), Construction and Sale (Gener8 Maritime, Inc.), Shipbuilding Contract (Gener8 Maritime, Inc.)

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Effect of Acceptance. Acceptance of the Vessel as above provided shall be final and binding so far as the conformity of the Vessel to this Contract and the Specifications is concerned, concerned and shall preclude the Buyer from refusing formal delivery of the Vessel as hereinafter provided, if Builder the Seller complies with all other procedural requirements for delivery as provided for in Article VlII hereof. The Seller will exercise good faith in determining acceptance or rejection of the Vessel as provided in Article VIIVessel.

Appears in 2 contracts

Samples: International Shipholding Corp, International Shipholding Corp

Effect of Acceptance. Acceptance of the Vessel as above provided shall be final and binding so far as the conformity of the Vessel to this Contract and the Specifications is concerned, and shall preclude Buyer from refusing formal delivery of the Vessel as hereinafter provided, if Builder complies with all procedural requirements for delivery of the Vessel as provided in Article VII.

Appears in 1 contract

Samples: Shipbuilding Contract (Scorpio Bulkers Inc.)

Effect of Acceptance. Acceptance of the Vessel as above provided whether by notice or pursuant to Paragraph 6.4(d) above shall be final and binding so far as the conformity of the Vessel to this Contract and the Specifications is concernedconcerned and shall, and shall if the Builder complies with all other procedural requirements for Delivery as provided in Article 7 hereof, preclude Buyer the Owner from refusing formal delivery of the Vessel as hereinafter provided, if Builder complies with all procedural requirements for delivery of the Vessel as provided in Article VII.

Appears in 1 contract

Samples: Shipbuilding Contract (Gulfmark Offshore Inc)

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Effect of Acceptance. 1. Acceptance of the Vessel as above provided shall be final and binding so far as the conformity of the Vessel to this Contract and the Specifications is concerned, concerned and shall preclude Buyer from refusing formal delivery of the Vessel as hereinafter provided, if Builder complies with all other procedural requirements for delivery of the Vessel as provided in Article VIIVII hereof. Such acceptance, however, shall not waive claims for defective work discovered during the warranty period.

Appears in 1 contract

Samples: Contract (Trico Marine Services Inc)

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