Fourth Instalment. Ten percent (10%) of the Contract Price, amounting to United States Dollars Nine Million Four Hundred Five Thousand only (USD9,405,000.-), shall be paid within five (5) banking days from the date of receipt by Buyer of a notice from Builder together with a certificate issued by the Classification Society confirming that keel laying for the first block of the Vessel has been completed, it being understood that in no eventuality shall this instalment become due more than seven (7) months prior to the Delivery Date in Article VII. herein.
Appears in 4 contracts
Samples: Shipbuilding Contract (Gener8 Maritime, Inc.), Shipbuilding Contract (Gener8 Maritime, Inc.), Shipbuilding Contract (Gener8 Maritime, Inc.)
Fourth Instalment. Ten percent (10%) of the Contract Price, amounting to United States Dollars Nine Million Four Seven Hundred Five Thousand only (USD9,405,000.-USD9,705,000.-), shall be paid within five (5) banking days from the date of receipt by Buyer of a notice from Builder together with a certificate issued by the Classification Society confirming that keel laying for the first block of the Vessel has been completed, it being understood that in no eventuality shall this instalment become due more than seven (7) months prior to the Delivery Date in Article VII. herein.Article
Appears in 1 contract
