Common use of Effect of Rescission Clause in Contracts

Effect of Rescission. It is acknowledged and agreed by the parties hereto that if the BUYER rescinds this Contract pursuant to any provision under this Article, the BUYER, subject to the provisions of Article X hereof, shall not be entitled to any liquidated damage or compensation. Shipbuilding Contract Hull No. 0120833

Effect of Rescission. It is acknowledged expressly understood and agreed by the parties hereto that in any case as stated herein, if the BUYER rescinds or cancels this Contract pursuant to any provision under this Article, the BUYER, subject to the provisions of save its rights and remedy set out in Article X hereof, shall not be entitled to any liquidated damage arising out of this Article III or compensationcompensation whether described above. Date: 18/63 Shipbuilding Contract Hull No. 0120833.

Effect of Rescission. It is acknowledged expressly understood and agreed by the parties hereto that if the BUYER rescinds or cancels this Contract pursuant to any provision under the terms of this Article, the BUYER, subject to the provisions of Article X hereof, shall not be entitled to any liquidated damage or compensation. compensation whether described above or otherwise, except as provided for in Article X. Date: 13/58 Shipbuilding Contract Hull No. 0120833.