Effect of Cancellation. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER cancels this CONTRACT under this Article, the BUYER shall not be entitled to any liquidated damages.
Appears in 17 contracts
Samples: Shipbuilding Contract (Alma Maritime LTD), Shipbuilding Contract (Alma Maritime LTD), Shipbuilding Contract (Seaspan CORP)
Effect of Cancellation. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER cancels this CONTRACT under this Article, the BUYER shall not be entitled to any liquidated damagesdamages and BUYER's remedies shall be limited to BUYER's rights set out in Article X hereof.
Appears in 8 contracts
Samples: Shipbuilding Contract (DHT Holdings, Inc.), Shipbuilding Contract (DHT Holdings, Inc.), Shipbuilding Contract (DHT Holdings, Inc.)
Effect of Cancellation. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER cancels this CONTRACT Contract under this Article, the BUYER shall not be entitled to any liquidated damages.
Appears in 4 contracts
Samples: Contract for the Construction and Sale of a Jack Up Drilling Unit (Santa Fe International Corp/), Construction Contract (Santa Fe International Corp/), Contract for the Construction and Sale of a Semi Submersible Drilling Unit (Santa Fe International Corp/)
Effect of Cancellation. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER cancels this CONTRACT under this Article, the BUYER shall not be entitled to any liquidated damagesdamages but shall be entitled to the refunding of the price as per Art. X.5.
Appears in 2 contracts
Samples: Shipbuilding Contract (Gener8 Maritime, Inc.), Shipbuilding Contract (Gener8 Maritime, Inc.)
Effect of Cancellation. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER cancels this CONTRACT under this Article, the BUYER shall not be entitled to any liquidated damagesdamages but shall be entitled to the refunding of the price as per Article X.5.
Appears in 2 contracts
Samples: Shipbuilding Contract (Gener8 Maritime, Inc.), Shipbuilding Contract (Gener8 Maritime, Inc.)
Effect of Cancellation. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER cancels this CONTRACT under this Article, the BUYER shall not be entitled to any liquidated damagesdamages and BUYER’s remedies shall be limited to BUYER’s rights set out in Article X hereof.
Appears in 1 contract
Effect of Cancellation. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER cancels this CONTRACT under this Article, the BUYER shall not be entitled to any liquidated damagesdamages and the BUYER’s remedies shall be limited to the BUYER’s rights set out in Article XI hereof.
Appears in 1 contract
