Fifth Instalment. The Delivery Instalment amounting to Thirty Eight Million Two Hundred and Eighty Thousand United States Dollars (US$ 38,280,000.-) plus any increase or minus any decrease due to adjustments of the Contract Price under and pursuant to the provisions of this Contract, shall be due and payable upon delivery and acceptance of the VESSEL or upon tender for delivery of the VESSEL referred to in Paragraph 4 of Article VII of this Contract. It is agreed that no payment shall be effected until the original Refund Guarantee is delivered to the BUYER.
Appears in 7 contracts
Samples: Construction Contract, Construction Contract (Danaos Corp), Construction Contract (Danaos Corp)
