Common use of Effect of Rescission Clause in Contracts

Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER rescinds this Contract under this Article, the BUYER shall not be entitled to any liquidated damages.

Appears in 7 contracts

Samples: Shipsale Contract (Globus Maritime LTD), Shipsale Contract (Globus Maritime LTD), Shipbuilding Contract (Globus Maritime LTD)

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Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER rescinds this Contract under this Articlearticle, the BUYER shall not be entitled to any liquidated damages.damages or any other recourse unless by means of the provisions of Article X hereof. (End of Article)

Appears in 6 contracts

Samples: Construction and Sale (Danaos Corp), Construction and Sale (Danaos Corp), Construction and Sale (Danaos Corp)

Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER rescinds this Contract under this Article, the BUYER shall not be entitled to any liquidated damages., or any other recourse unless by means of the provisions of Article X hereof. (End of Article)

Appears in 5 contracts

Samples: Construction and Sale (DryShips Inc.), Construction and Sale (DryShips Inc.), Construction and Sale (DryShips Inc.)

Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any casecase as stated herein, if the BUYER rescinds this Contract pursuant to any provision under this ArticleARTICLE III, the BUYER BUYER, save its rights and remedies set out in ARTICLE X hereof, shall not be entitled to any liquidated damages.damages or compensation whether described above or otherwise. (end of Article)

Appears in 4 contracts

Samples: Construction Of (Seaspan CORP), Seaspan CORP, Seaspan CORP

Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER OWNER rescinds this Contract under this Article, the BUYER OWNER shall not be entitled to any liquidated damages., or any other recourse unless by means of the provisions of Article X hereof. (End of Article)

Appears in 2 contracts

Samples: R&b Falcon Corp, R&b Falcon Corp

Effect of Rescission. It is expressly understood and agreed by the parties hereto that that, in any case, if the BUYER Buyer rescinds this Contract under this Article, the BUYER Buyer shall not be entitled to any claim for the liquidated damagesdamages as provided in this Article, and the Buyer’s liability for such rescission shall be subject to the provisions of the Article X hereof.

Appears in 2 contracts

Samples: Sale and Purchase, Sale and Purchase

Effect of Rescission. It is expressly understood and agreed by the parties Parties hereto that in any case, if the BUYER rescinds this Contract under this Article, the BUYER BUYER, subject to the provisions of Article X hereof, shall not be entitled to any liquidated damages, other than the refund of the instalments already paid and payment of interest accrued thereon as provided in Article X hereof.

Appears in 2 contracts

Samples: Shipbuilding Contract (Safe Bulkers, Inc.), Shipbuilding Contract (Safe Bulkers, Inc.)

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Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER rescinds this Contract under this Articlearticle, the BUYER shall not be entitled to any liquidated damages.damages or any other recourse unless by means of the provisions of Article X hereof. (End of Article) 18

Appears in 1 contract

Samples: www.dieselduck.info

Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER rescinds this Contract CONTRACT under this Article, the BUYER shall not be entitled to any liquidated damages.damages arising out of this Article. (End of Article)

Appears in 1 contract

Samples: Construction and Sale (Scorpio Bulkers Inc.)

Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER rescinds this Contract under this Article, the BUYER shall not be entitled to any liquidated damages.damages or any other recourse unless by means of the provisions of Article X hereof. (end of Article)

Appears in 1 contract

Samples: Danaos Corp

Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any case, if the BUYER rescinds this Contract under this Article, the BUYER shall not be entitled to any liquidated damages., or any other recourse unless by means of the provisions of Article X hereof. (End of Article) -----------------------------------

Appears in 1 contract

Samples: R&b Falcon Corp

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