Common use of Fuel Consumption Clause in Contracts

Fuel Consumption. (a) The Contract Price shall not be affected or changed in case the actual fuel consumption, as determined by the engine manufacturer’s shop trial (171 g/KWh) as specified in the Specifications, is not more than tolerance margin of five percent (5%) in excess of the Guaranteed Fuel Consumption. (b) However, in the event that the actual fuel consumption at the shop trial is in excess of five percent (5%) of the Guaranteed Fuel Consumption, the Contract Price shall be reduced by the sum of seventy thousand United States Dollars (US$70,000) for each full one percent (1%) increase in fuel consumption and pro rata for any fraction of one percent (1%) of the Guaranteed Fuel Consumption in excess of the said five percent (5%) up to maximum of eight percent (8%) over the Guaranteed Fuel Consumption. (c) If the fuel consumption of the main engine exceeds the Guaranteed Fuel Consumption by more than eight percent (8%), then the BUYER may, at its option, reject the VESSEL and rescind this Contract in accordance with the provisions of ARTICLE X hereof, or may accept the VESSEL at a reduction in the Contract Price as above provided for eight percent (8%) only, that is, at a total reduction of two hundred and ten thousand United Stated Dollars (US$210,000) being the maximum.

Fuel Consumption. (a) The Contract Price shall not be affected or changed in case the actual fuel consumption, as determined by the engine manufacturer’s shop trial (171 g/KWh) as specified in the Specifications, is not more than tolerance margin of five percent (5%) in excess of the Guaranteed Fuel Consumption. (b) However, in the event that the actual fuel consumption at the shop trial is in excess of five percent (5%) of the Guaranteed Fuel Consumption, the Contract Price shall be reduced by the sum of seventy thousand United States Dollars (US$70,000) for each full one percent (1%) increase in fuel consumption and pro rata for any fraction of one percent (1%) of the Guaranteed Fuel Consumption in excess of the said five percent (5%) up to maximum of eight percent (8%) over the Guaranteed Fuel Consumption. (c) If the fuel consumption of the main engine exceeds the Guaranteed Fuel Consumption by more than eight percent (8%), then the BUYER may, at its option, reject the VESSEL and rescind this Contract in accordance with the provisions of ARTICLE X hereof, or may accept the VESSEL at a reduction in the Contract Price as above provided for eight percent (88 %) only, that is, at a total reduction of two hundred and ten thousand United Stated Dollars (US$210,000) being the maximum.

Fuel Consumption. (a) The Contract Price shall not be affected or changed in case the actual fuel consumption, as determined by the engine manufacturer’s shop trial (171 g/KWh) as specified in the Specifications, is not more than tolerance margin of five percent (5%) in excess of the Guaranteed Fuel Consumption. (b) However, in the event that the actual fuel consumption at the shop trial is in excess of five percent (5%) of the Guaranteed Fuel Consumption, the Contract Price shall be reduced by the sum of seventy thousand Sixty Thousand United States Dollars (US$70,00060,000) for each full one percent (1%) increase in fuel consumption and pro rata for any fraction of one percent (1%) of the Guaranteed Fuel Consumption in excess of the said five percent (5%) up to maximum of eight percent (8%) over the Guaranteed Fuel Consumption. (c) If the fuel consumption of the main engine exceeds the Guaranteed Fuel Consumption by more than eight percent (8%), then the BUYER may, at its option, reject the VESSEL and rescind this Contract in accordance with the provisions of ARTICLE Article X hereof, or may accept the VESSEL at a reduction in the Contract Price as above provided for eight percent (8%) only, that is, at a total reduction of two hundred One Hundred and ten thousand Eighty Thousand United Stated Dollars (US$210,000) being the maximum180,000).

Fuel Consumption. (a) The Contract Price shall not be affected or changed in case by reason of the actual fuel consumptionconsumption of the VESSEL, as determined by the engine manufacturer’s shop trial (171 g/KWh) as specified in per the Specifications, being more than the guaranteed fuel consumption of the VESSEL, if such excess is not more than tolerance margin of five three percent (53%) in excess of over the Guaranteed Fuel Consumptionguaranteed fuel consumption. (b) However, commencing with an excess of three percent (3%) in the event that the actual fuel consumption at over the shop trial is in excess of five percent (5%) guaranteed fuel consumption of the Guaranteed Fuel ConsumptionVESSEL, the Contract Price shall be reduced by the sum of seventy thousand United States Dollars (US$70,000) [ ] – for each full one percent percent (1%) increase in fuel consumption and pro rata for any fraction above said three percent (3%) (fractions of one percent (1%) to be disregarded), up to a maximum of the Guaranteed Fuel Consumption in excess of the said five ten percent (5%) up to maximum of eight percent (810%) over the Guaranteed Fuel Consumptionguaranteed fuel consumption of the VESSEL. (c) If such actual fuel consumption exceeds ten percent (10%) of the guaranteed fuel consumption of the main engine exceeds the Guaranteed Fuel Consumption by more than eight percent (8%)VESSEL, then the BUYER may, at its option, reject the VESSEL and rescind this Contract in accordance with the provisions of ARTICLE Article X hereof, or may accept the VESSEL at a reduction in the Contract Price as above provided specified for eight ten percent (810%) only, that is, at a total reduction of two hundred and ten thousand United Stated Dollars (US$210,000) being the maximum.[ ]-