Common use of hereinbelow Clause in Contracts

hereinbelow. (c) Owner, at its discretion, may elect to cause the necessary repairs or replacements to be made at a non-Keppel FELS Yard. In such event, Builder's sole obligation shall be to reimburse Owner for the cost of such repairs or replacements, provided, however, that in no event shall the sum to be paid to Owner by Builder exceed the cost that Builder would have borne, based on Builder's normal rates, if the repairs or replacements had been made at the Builder's Yard. If Owner elects to proceed under the provisions of this subparagraph (c), Owner shall, as soon as possible after such election (but in any event prior to the commencement of such repairs or replacements), notify Builder of the time, place, and estimated cost of such repairs and replacements. Builder shall have the right to verify, at its sole cost and expense, by its own representative, the nature and extent of the defects complained of. Except in the case of emergency repairs needed to protect life or property or in the event Builder's representative shall not have arrived to perform such inspection within seventy-two (72) hours of Owner's notice to Builder if reasonably possible and the repairs are necessary to meet operating commitments of Owner, such inspection shall be prior to the time that the repairs or replacements are made and if in fact no breach of the Warranty made by Builder herein has occurred, Owner shall pay to Builder a per diem equal to Builder's then current labor rate schedule and the reasonable expenses incurred by such representative.