Fourth Instalment. The fourth instalment amounting to US$4,125,000 representing ten percent (10%) of the Contract Price shall be due and payable and shall be paid within seven (7) Banking Days of receipt of notice of keel-laying of the first section of the VESSEL. The SELLER shall give a fax or letter notice to the BUYER stating that the first section has been carried out and demand for payment of this instalment. Such notice shall include a Builder’s certificate of keel-laying, which shall be endorsed by the Classification Surveyor.
Appears in 4 contracts
Samples: Construction Of (Seaspan CORP), Seaspan CORP, Seaspan CORP
