Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any case as stated herein, if the BUYER rescinds this Contract pursuant to any provision under this Article, the BUYER, save its rights and remedy set out in Article X hereof, shall not be entitled to any liquidated damage or compensation whether described above or otherwise.
Appears in 9 contracts
Samples: Shipbuilding Contract (Performance Shipping Inc.), Shipbuilding Contract (Scorpio Bulkers Inc.), Shipbuilding Contract (TBS International PLC)
Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any case as stated hereincase, if the BUYER rescinds this Contract pursuant to any provision CONTRACT under this Article, the BUYER, save its rights and remedy set out in Article X hereof, BUYER shall not be entitled to any liquidated damage or compensation whether described above or otherwisedamages, unless by means of the provision of Article X hereof.
Appears in 5 contracts
Samples: Shipbuilding Contract (Danaos Corp), Shipbuilding Contract (Danaos Corp), Shipbuilding Contract (Danaos Corp)
Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any case as stated herein, if the BUYER rescinds this Contract pursuant to any provision under this Article, the BUYER, save its rights and remedy set out in Article ARTICLE X hereof, shall not be entitled to any other liquidated damage or any other compensation whether described above or otherwise.. Date: 13th November, 2013
Appears in 4 contracts
Samples: Shipbuilding Contract (Baltic Trading LTD), Shipbuilding Contract (Baltic Trading LTD), Shipbuilding Contract (Baltic Trading LTD)
Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any case as stated herein, if the BUYER rescinds this Contract pursuant to any provision under this Article, the BUYER, save its rights and remedy set out in Article X 10 hereof, shall not be entitled to any liquidated damage or compensation whether described above or otherwisebut shall be entitled to a refund of payments made prior to delivery and interest thereon.
Appears in 3 contracts
Samples: Shipbuilding Contract (Aegean Marine Petroleum Network Inc.), Shipbuilding Contract (Aegean Marine Petroleum Network Inc.), Shipbuilding Contract (Aegean Marine Petroleum Network Inc.)
Effect of Rescission. It is expressly understood and agreed by the parties hereto that in any case as stated hereincase, if the BUYER rescinds this Contract pursuant to any provision under this Article, the BUYER, save its rights and remedy set out in Article X hereof, BUYER shall not be entitled to any liquidated damage or compensation whether described above or otherwisedamages, but the parties shall follow the provisions of Article XI hereof.
Appears in 1 contract
Samples: Shipbuilding Contract (Aegean Marine Petroleum Network Inc.)
