Common use of HOW EFFECTED Clause in Contracts

HOW EFFECTED. Minor modifications or changes to the SPECIFICATIONS and the PLAN under which the VESSEL is to be constructed may be made at any time hereafter by written agreement of the parties hereto. Any modification or change requested by the BUYER which does not substantially amend the SPECIFICATIONS, shall be agreed to by the BUILDER if the BUYER agrees to adjustment of the CONTRACT PRICE, deadweight and/or cubic capacity, speed requirements, the DELIVERY DATE and other terms and conditions of this CONTRACT, reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYER, if the BUYER does not agree to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, if, in the BUILDER's reasonable judgement, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, agrees to exert its best efforts to accommodate such reasonable request by the BUYER so that the said change and modification shall be made at a reasonable cost and within the shortest period of time reasonably possible. The aforementioned agreement to modify and change the SPECIFICATIONS and the PLAN may be effected by exchange of letters, email or facsimiles manifesting the agreement. The letters, emails and facsimiles exchanged by the parties pursuant to the foregoing shall constitute an amendment to this CONTRACT and the SPECIFICATIONS or the PLAN under which the VESSEL shall be built. Upon consummation of such an agreement to modify and change the SPECIFICATIONS or the PLAN, the BUILDER shall alter the construction of the VESSEL in accordance therewith including any addition to, or deduction from, the work to be performed in connection with such construction.

HOW EFFECTED. Minor Any modifications or changes to the SPECIFICATIONS and the PLAN under which the VESSEL is to be constructed may be made at any time hereafter by written agreement of the parties hereto. Any modification or change requested by the BUYER which does not substantially amend affect the SPECIFICATIONS, frame-work of the SPECIFICATIONS shall be agreed to by the BUILDER if the BUYER agrees to adjustment of the CONTRACT PRICE, deadweight and/or cubic capacity, speed requirements, the DELIVERY DATE Delivery Date and other terms and conditions of this CONTRACT, CONTRACT reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYER, if the BUYER does not agree to the aforesaid adjustments within seven (7) days of the BUILDER's ’s notification of the same to the BUYER, or, if, in the BUILDER's reasonable ’s judgement, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, agrees to exert its best efforts to accommodate such reasonable request by the BUYER so that the said change and modification shall be made at a reasonable cost and within the shortest period of time reasonably possible. The aforementioned agreement to modify and change the SPECIFICATIONS and the PLAN may be effected by exchange of letters, email letters or facsimiles manifesting the agreement. The letters, emails letters and facsimiles exchanged by the parties pursuant to the foregoing shall constitute an amendment to this CONTRACT and the SPECIFICATIONS or the PLAN under which the VESSEL shall be built. Upon consummation of such an agreement to modify and change the SPECIFICATIONS or the PLAN, the BUILDER shall alter the construction of the VESSEL in accordance therewith including any addition to, or deduction from, the work to be performed in connection with such construction.

HOW EFFECTED. Minor modifications Modifications or changes to the SPECIFICATIONS and the PLAN under which the VESSEL is to be constructed may be made at any time hereafter by written agreement of the parties hereto. Any modification or change requested by the BUYER which does not substantially amend affect the SPECIFICATIONS, SPECIFICATIONS to a fundamental extent shall be agreed to by the BUILDER if the BUYER agrees to adjustment of the CONTRACT PRICE, deadweight and/or cubic capacity, speed requirements, the DELIVERY DATE Delivery Date and other terms and conditions of this CONTRACT, CONTRACT reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of to the SPECIFICATIONS and/or the PLAN requested by the BUYER, BUYER if the BUYER does not agree to the aforesaid adjustments within seven fourteen (714) days of the BUILDER's ’s notification of the same to the BUYER, or, BUYER or if, in the BUILDER's reasonable ’s judgement, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, agrees to exert its best reasonable efforts to accommodate such reasonable request by the BUYER so that the said change and modification shall be made at a reasonable cost and within the shortest period of time reasonably possible. The aforementioned agreement to modify and change the SPECIFICATIONS and the PLAN may be effected by exchange of letters, email letters or facsimiles manifesting the agreement. The letters, emails letters and facsimiles exchanged by the parties pursuant to the foregoing shall constitute an amendment to this CONTRACT and the SPECIFICATIONS or the PLAN under which the VESSEL shall be built. Upon consummation of such an agreement to modify and change the SPECIFICATIONS or the PLANSPECIFICATIONS, the BUILDER shall alter the construction of the VESSEL in accordance therewith including any addition to, or deduction from, the work to be performed in connection with such construction.

HOW EFFECTED. Minor modifications or changes to the SPECIFICATIONS The Specifications and the PLAN under Plans in accordance with which the VESSEL is to shall be constructed constructed, may be made modified and/or changed at any time hereafter by written agreement of the parties hereto. Any modification , provided that such modifications and/or changes or change requested by an accumulation thereof will not, :in the SELLER’s reasonable judgement, adversely affect the SELLER’s other commitments and provided further that the BUYER which does not substantially amend the SPECIFICATIONSshall consent, shall be agreed if necessary, to by the BUILDER if the BUYER agrees to affair and reasonable adjustment of the CONTRACT PRICEContract Price, deadweight and/or cubic capacitytime of delivery of the VESSEL., speed requirements, the DELIVERY DATE and other terms and conditions of this CONTRACTContract, reasonably required as a result of and/or the Specifications occasioned by such modification or changeand/or changes, it any. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustmentsas hereinafter provided. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYER, if the BUYER does not agree Subject to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, if, in the BUILDER's reasonable judgementabove, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, SELLER hereby agrees to exert its ifs’ best efforts to accommodate such reasonable request requests by the BUYER so that the said change and modification shall changes and/or modifications may be made at a reasonable cost and within the shortest period practicable time. Any such agreement for modifications and/or changes shall include an agreement as to the increase. or decrease, if any, in the Contract Price of time reasonably possiblethe VESSEL together with an agreement as to any extension or reduction hi the date of delivery, the provision to the SELLER of any additional securities necessary to the SELLER, or any other alterations in this Contract, or the Specifications occasioned by such - modifications and/or changes. The aforementioned agreement to modify and anchor to change the SPECIFICATIONS and the PLAN Specifications may be effected by an exchange of lettersletter, email or facsimiles telefaxes signed in each case by an authorised representative of the relevant party, manifesting the such agreement. The letters, emails and facsimiles letters as well as telefaxes exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment to this CONTRACT and the SPECIFICATIONS or the PLAN Specifications under which the VESSEL shall be built, and such letters and telefaxes shall be deemed to be incorporated into this Contract and the Specifications by reference and made a part hereof. Upon consummation of such an the agreement to modify and and/or to change the SPECIFICATIONS or the PLANSpecifications, the BUILDER SELLER shall without delay alter the construction of the VESSEL in accordance therewith therewith, including any addition additions to, or deduction deductions from, the work to be he performed in connection with such construction. If due to whatever reasons, the parties hereto shall fail to agree on the adjustment of the Contract Price or extension of time of delivery or the provision of additional security to the SELLER or modification of any terms of this Contract which are necessitated by such modifications and/or changes, then the SELLER shall have no obligation to comply with the BUYER’s request for any modification and/or changes.

HOW EFFECTED. Minor modifications or changes to the SPECIFICATIONS The Specifications and the PLAN under Plans in accordance with which the VESSEL is to be constructed constructed, may be made modified and/or changed at any time hereafter by written agreement of the parties hereto. Any modification , provided that such modifications and/or changes or change requested by an accumulation thereof will not, in the BUILDER’s reasonable judgment, adversely affect the BUILDER’s other commitments and provided further that the BUYER which does not substantially amend the SPECIFICATIONS, shall be agreed to by the BUILDER if the BUYER agrees assent to adjustment of the CONTRACT PRICEContract Price, deadweight and/or cubic capacity, speed requirements, time of delivery of the DELIVERY DATE VESSEL and other terms and conditions of this CONTRACT, reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYERContract, if the BUYER does not agree any, as hereinafter provided. Subject to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, if, in the BUILDER's reasonable judgementabove, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, SELLER hereby agrees to exert its use the SELLER’s best efforts to accommodate such reasonable request requests by the BUYER so that the said change and modification shall changes and/or modifications may be made at a reasonable cost and within the shortest period of time reasonably which is reasonable and possible. Any such agreement for modifications and/or changes shall include an agreement as to the increase or decrease, if any, in the Contract Price of the VESSEL together with an agreement as to any extension or reduction in the time of delivery, or any other amendments to tins Contract, or the Specifications or Plans occasioned by such modifications and/or changes. The aforementioned agreement to modify and and/or to change the SPECIFICATIONS and the PLAN Specifications and/or Plans may be effected by an exchange of duly letters, email which can be sent by telefax or facsimiles manifesting the email, evidencing such agreement. The letters, letters and telefax and emails and facsimiles exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment to this CONTRACT and of the SPECIFICATIONS or the PLAN Specifications and/or Plans under which the VESSEL shall be built, and such letters and telefax and emails shall be deemed to be incorporated into this Contract and the Specifications and/or Plans by reference and made a part hereof. Upon consummation of such an the agreement to modify and and/or to change the SPECIFICATIONS or the PLANSpecifications and/or Plans, the BUILDER SELLER shall alter the construction of the VESSEL in accordance therewith therewith, including any addition additions to, or deduction deductions from, the work to be performed in connection with such construction. If due to whatever reasons, the parties hereto shall fail to agree on the adjustment of the Contract Price or extension of time of delivery or modification of any terms of this Contract which are necessitated by such modifications and/or changes, then the SELLER shall have no obligation to comply with the BUYER’s request for any modification and/or changes.

HOW EFFECTED. Minor modifications or changes to the SPECIFICATIONS The Specifications and the PLAN under drawings in accordance with which the VESSEL is to be constructed constructed, may be made modified and/or changed at any time hereafter by written agreement of the parties hereto. Any modification , provided that such modifications and/or changes or change requested by an accumulation thereof will not, in the SELLER's reasonable judgement, taking into account the current status of the construction of the VESSEL, adversely affect the SELLER's other commitments and provided further that the BUYER which does not substantially amend the SPECIFICATIONS, shall be agreed to by the BUILDER if the BUYER agrees assent to adjustment of the CONTRACT PRICEOriginal Contract Price, deadweight and/or cubic capacity, speed requirements, time of delivery of the DELIVERY DATE VESSEL and other terms and conditions of this CONTRACT, reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYERContract, if the BUYER does not agree any, as hereinafter provided. Subject to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, if, in the BUILDER's reasonable judgementabove, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, SELLER hereby agrees to exert its best efforts to accommodate such reasonable request requests by the BUYER so that the said change and modification shall changes and/or modifications may be made at a reasonable cost and within the shortest period of time reasonably which is reasonable and possible. Any such agreement for modifications and/or changes shall include an agreement as to the increase or decrease, if any, in the Original Contract Price of the VESSEL together with an agreement as to any extension or reduction in the time of delivery, or any other alterations in this Contract or the Specifications, which may be occasioned by such modifications and/or changes. The aforementioned agreement to modify and and/or to change the SPECIFICATIONS and the PLAN Specifications may be effected by an exchange of letters, email duly confirmed letters or facsimiles telefax manifesting the such agreement. The letters, emails letters and facsimiles telefaxes exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment to this CONTRACT and of the SPECIFICATIONS or the PLAN Specifications under which the VESSEL shall be built, and such letters and telefaxes shall be deemed to be incorporated into this Contract and the Specifications by reference and made a part hereof. Upon consummation of such an the agreement to modify and and/or to change the SPECIFICATIONS or the PLANSpecifications, the BUILDER SELLER shall alter the construction of the VESSEL in accordance therewith therewith, including any addition additions to, or deduction deductions from, the work to be performed in connection with such construction. If for whatever reason, the parties hereto shall fail to agree on the adjustment of the Original Contract Price or extension of time of delivery or modification of any terms of this Contract which are necessitated by such modifications and/or changes, then the SELLER shall have no obligation to comply with the BUYER's request for any modification and/or changes.

HOW EFFECTED. Minor Any modifications or and/or changes to in the SPECIFICATIONS and the PLAN Specifications under which the VESSEL is to be constructed may shall be made at any time hereafter by written agreement of the parties hereto. Any modification hereto provided, however, that any modifications and/or changes will not adversely affect the SELLER’s planning or change requested by programme in relation to the BUYER which does not substantially amend the SPECIFICATIONS, shall be agreed to by the BUILDER SELLER’s other commitments and if the BUYER agrees and SELLER shall agree to adjustment of the CONTRACT PRICEContract Price, deadweight and/or cubic capacity, speed requirements, time for delivery of the DELIVERY DATE VESSEL and other terms and conditions of this CONTRACT, reasonably required Contract as a result of such modification or changehereinafter provided. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYER, if the BUYER does not agree to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, if, in the BUILDER's reasonable judgement, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, SELLER hereby agrees to exert its best efforts to accommodate such reasonable request by the BUYER so that the said change and modification shall changes and/or modifications may be made at a reasonable cost and within the shortest period of time which is reasonably possible. Any such agreement for modifications and/or changes shall include an agreement as to the increase or decrease, if any, in the Contract Price of the VESSEL and if necessary which instalment is to reflect the increase or decrease of the Contract Price together with an agreement as to any extension or reduction in the time of delivery, or any other alterations in this Contract, or the Specifications or the Approved Drawings occasioned by such modifications and/or changes. If after the exertion of such best efforts by the SELLER in response to the BUYER’s reasonable request, the parties fail to conclude the above-mentioned agreement, then the SELLER shall have no obligation to comply with the BUYER’S request. The aforementioned agreement to modify and and/or change the SPECIFICATIONS and the PLAN Specifications and/or Approved Drawings may be effected by an exchange of lettersletters signed by the authorized Representatives of the parties hereto, email or facsimiles telex or facsimile confirmed in writing, manifesting the such agreement. The letters, emails Such letters and facsimiles confirmed telex and facsimile exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment to this CONTRACT of the Specifications, and the SPECIFICATIONS or the PLAN under which the VESSEL such letters and telex and facsimile shall be builtincorporated into this Contract and made a part hereof. Upon consummation The SELLER may make minor changes to the Specifications, if found necessary for introduction of such an agreement to modify and change improved production methods or otherwise, provided that the SPECIFICATIONS or SELLER shall first obtain the PLAN, the BUILDER BUYER’s written approval which shall alter the construction of the VESSEL in accordance therewith including any addition to, or deduction from, the work to not be performed in connection with such constructionunreasonably withheld.

HOW EFFECTED. Minor modifications or changes to the SPECIFICATIONS and the PLAN under which the VESSEL is to be constructed The Specifications may be made at any time hereafter modified and/or changed by written agreement request of the parties hereto. Any modification or change OWNER subject to BUILDER's approval (which approval shall not be unreasonably withheld) provided that any modifications and/or changes requested by the BUYER which does OWNER (or an accumulation of such modifications and/or changes) will not substantially amend adversely affect the SPECIFICATIONSBUILDER's other commitments. The BUILDER will respond within fourteen (14) days of OWNER's request for quotation (unless otherwise agreed) of the aforementioned change. Likewise, the OWNER shall be agreed notify its approval or rejection or give its comments to by BUILDER within fourteen (14) days of receipt of BUILDER's quotation. In the event of an adverse effect, the BUILDER if and the BUYER agrees OWNER shall first approve a Shipyard Change Order, before such modifications and/or changes are carried out, to any adjustment in the Contract Price, time for delivery of the CONTRACT PRICE, deadweight and/or cubic capacity, speed requirements, the DELIVERY DATE and VESSEL or other terms and conditions of this CONTRACT, reasonably required as a result of Contract occasioned by or resulting from such modification or changemodifications and/or changes. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYER, if the BUYER does not agree to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, if, in the BUILDER's reasonable judgement, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, hereby agrees to exert its best efforts to accommodate such any reasonable request by the BUYER OWNER so that the said change and modification shall changes and/or modifications may be made at a reasonable cost and within the shortest period of time which is reasonably possible. Any Shipyard Change Order for modifications and/or changes shall include an agreement as to the increase or decrease, if any, in the Contract Price of the VESSEL together with an agreement as to any extension or reduction in the time of delivery, or any other alterations in this Contract occasioned by such modifications and/or changes. The aforementioned agreement to modify and change the SPECIFICATIONS and the PLAN may be effected only by exchange a Shipyard Change Order signed by the authorized representatives of letters, email or facsimiles manifesting the agreementparties hereto. The letters, emails and facsimiles Such Shipyard Change Orders exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment to this CONTRACT amendment, and the SPECIFICATIONS or the PLAN under which the VESSEL such Shipyard Change Orders shall be builtincorporated into this Contract and made a part hereof. Upon consummation The BUILDER may make minor changes to the Specifications, if found necessary for introduction of such an agreement to modify and change the SPECIFICATIONS improved production methods or the PLANotherwise, provided that the BUILDER shall alter first obtain the construction of the VESSEL in accordance therewith including any addition to, or deduction from, the work to OWNER's written approval which shall not be performed in connection with such constructionunreasonably withheld.

HOW EFFECTED. (a) Minor modifications or changes to the SPECIFICATIONS and the PLAN under which the VESSEL is to be constructed may be made at any time hereafter by written agreement of between the parties hereto. Any modification or change requested by the BUYER which does not substantially amend affect the SPECIFICATIONS, frame-work of the SPECIFICATIONS shall be agreed to by the BUILDER if the BUYER agrees to adjustment of the CONTRACT PRICE, the DELIVERY DATE, speed requirements, deadweight and/or cubic capacity, speed requirements, the DELIVERY DATE and other terms and conditions of this CONTRACT, CONTRACT reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of in compliance with the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYER, if the BUYER does not agree to the aforesaid adjustments within seven (7) days of the BUILDER's ’s notification of the same to the BUYER, or, if, in the BUILDER's reasonable ’s judgement, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, BUILDER agrees to exert its best efforts to accommodate such reasonable request by the BUYER so that the said change and modification shall be made at a reasonable cost and within the shortest period of time reasonably possible. The aforementioned agreement to modify and change the SPECIFICATIONS and the PLAN may be effected by exchange of letters, email letters duly signed by the authorised representatives of the parties hereto or facsimiles manifesting the agreement. The letters, emails and facsimiles exchanged by the parties pursuant to the foregoing shall constitute an amendment to this CONTRACT and the SPECIFICATIONS or the PLAN under which the VESSEL shall be built. Upon consummation of such an agreement to modify and change the SPECIFICATIONS or the PLAN, the BUILDER shall alter the construction of the VESSEL in accordance therewith including any addition to, or deduction from, the work to be performed in connection with such construction.

HOW EFFECTED. Minor modifications or changes to The Specification, (including the SPECIFICATIONS plans and the PLAN under drawings) in accordance with which the VESSEL is to be constructed constructed, may be made modified and/or changed at any time hereafter by written agreement of the parties hereto. Any modification , provided that such modifications and/or changes or change requested by an accumulation thereof will not, in the BUILDER’s reasonable judgment, adversely affect the BUILDER’s other commitments and provided further that the BUYER which does not substantially amend the SPECIFICATIONS, shall be agreed to by the BUILDER if the BUYER agrees assent to adjustment of the CONTRACT PRICEContract Price, deadweight and/or cubic capacity, speed requirements, time of delivery of the DELIVERY DATE VESSEL and other terms and conditions of this CONTRACT, reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYERContract, if any, as hereinafter provided. Subject to the BUYER does not above, the SELLER hereby agree to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, if, in the BUILDER's reasonable judgement, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, agrees to exert its their best efforts to accommodate such reasonable request requests by the BUYER so that the said change and modification shall changes and/or modifications may be made at a reasonable cost and within the shortest period of time reasonably which is reasonable and possible. Any such agreement for modifications and/or changes shall include an agreement as to the increase or decrease, if any, in the Contract Price of the VESSEL together with an agreement as to any extension or reduction in the time of delivery, providing additional securities satisfactory to the SELLER, or any other alterations in this Contract, or the Specifications occasioned by such modifications and/or changes. The aforementioned agreement to modify and and/or to change the SPECIFICATIONS and the PLAN Specifications may be effected by an exchange of lettersduly authenticated letters or telefax or email, email or facsimiles manifesting the such agreement. The letters, telefaxes and emails and facsimiles exchanged by the parties pursuant to the foregoing this Article shall constitute an amendment to this CONTRACT and of the SPECIFICATIONS or the PLAN Specifications under which the VESSEL shall be built, and such letters, telefaxes and emails shall be deemed to be incorporated into this Contract and the Specifications by reference and made a part hereof. Upon consummation of such an agreement to modify and and/or to change the SPECIFICATIONS or the PLANSpecifications, the BUILDER SELLER shall alter the construction of the VESSEL in accordance therewith accordingly, including any addition additions to, or deduction deductions from, the work to be performed in connection with such construction. If due to whatever reasons, the parties hereto shall fail to agree on the adjustment of the Contract Price or extension of time of delivery or providing additional security to the SELLER or modification of any terms of this Contract which are necessitated by such modifications and/or changes, then the SELLER shall have no obligation to comply with the BUYER’s request for any modification and/or changes.

HOW EFFECTED. Minor modifications or changes to the SPECIFICATIONS The Specifications and the PLAN under Plans in accordance with which the VESSEL is to be constructed constructed, may be made modified and/or changed at any time hereafter by written agreement of the parties hereto. Any modification , provided that such modifications and/or changes or change requested by the BUYER which does not substantially amend the SPECIFICATIONS, shall be agreed to by the BUILDER if the BUYER agrees to adjustment of the CONTRACT PRICE, deadweight and/or cubic capacity, speed requirements, the DELIVERY DATE and other terms and conditions of this CONTRACT, reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYER, if the BUYER does not agree to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, ifan accumulation thereof will not, in the BUILDER's reasonable judgementjudgment, adversely affect the BUILDER's other commitments and provided further that the BUYER shall agree to adjustment of the Contract Price, time of delivery of the VESSEL and other terms of this Contract, if any, as hereinafter provided. Subject to the above, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, agrees SELLER hereby agree to exert its their best efforts to accommodate such reasonable request requests by the BUYER so that the said change and modification shall changes and/or modifications may be made at a reasonable cost and within the shortest period of time reasonably which is reasonable and possible. Any such agreement for modifications and/or changes shall include an agreement as to the increase or decrease, if any, in the Contract Price of the VESSEL together with an agreement as to any extension or reduction in the time of delivery, providing to the SELLER additional securities satisfactory to the SELLER, or any other alterations in this Contract, or the Specifications occasioned by such modifications and/or changes. The aforementioned agreement to modify and and/or to change the SPECIFICATIONS and the PLAN Specifications may be effected by an exchange of lettersletters or e-mail, email or facsimiles manifesting the such agreement. The letters, emails and facsimiles letters or e-mails exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment to this CONTRACT and of the SPECIFICATIONS or the PLAN Specifications under which the VESSEL shall be built, and such letters or e-mails shall be deemed to be incorporated into this Contract and the Specifications by reference and made a part hereof. Upon consummation of such an the agreement to modify and and/or to change the SPECIFICATIONS or the PLANSpecifications, the BUILDER SELLER shall alter the construction of the VESSEL in accordance therewith therewith, including any addition additions to, or deduction deductions from, the work to be performed in connection with such construction. If due to whatever reasons, the parties hereto fail to agree on the adjustment of the Contract Price or extension of time of delivery or providing additional security to the SELLER or modification of any terms of this Contract which are necessitated by such modifications and/or changes, then the SELLER shall have no obligation to comply with the BUYER's request for any modification and/or changes. The BUILDER may make minor changes to the Specifications, if found necessary for introduction of improved production and construction methods or otherwise, provided that the BUILDER shall first obtain the BUYER’s approval which shall not be unreasonably withheld. Shipbuilding Contract Hull No.H1597

HOW EFFECTED. Minor modifications or changes to the SPECIFICATIONS The Specifications and the PLAN under Plans in accordance with which the VESSEL is to be constructed constructed, may be made modified and/or changed at any time hereafter by written agreement of the parties hereto. Any modification , provided that such modifications and/or changes or change requested by the BUYER which does not substantially amend the SPECIFICATIONS, shall be agreed to by the BUILDER if the BUYER agrees to adjustment of the CONTRACT PRICE, deadweight and/or cubic capacity, speed requirements, the DELIVERY DATE and other terms and conditions of this CONTRACT, reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYER, if the BUYER does not agree to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, ifan accumulation thereof will not, in the BUILDER's reasonable judgementjudgment, adversely affect the BUILDER's other commitments and provided further that the BUYER shall agree to adjustment of the Contract Price, time of delivery of the VESSEL and other terms of this Contract, if any, as hereinafter provided. Subject to the above, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, agrees SELLER hereby agree to exert its their best efforts to accommodate such reasonable request requests by the BUYER so that the said change and modification shall changes and/or modifications may be made at a reasonable cost and within the shortest period of time reasonably which is reasonable and possible. Any such agreement for modifications and/or changes shall include an agreement as to the increase or decrease, if any, in the Contract Price of the VESSEL together with an agreement as to any extension or reduction in the time of delivery, providing to the SELLER additional securities satisfactory to the SELLER, or any other alterations in this Contract, or the Specifications occasioned by such modifications and/or changes. The aforementioned agreement to modify and and/or to change the SPECIFICATIONS and the PLAN Specifications may be effected by an exchange of lettersletters or e-mail, email or facsimiles manifesting the such agreement. The letters, emails and facsimiles letters or e-mails exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment to this CONTRACT and of the SPECIFICATIONS or the PLAN Specifications under which the VESSEL shall be built, and such letters or e-mails shall be deemed to be incorporated into this Contract and the Specifications by reference and made a part hereof. Upon consummation of such an the agreement to modify and and/or to change the SPECIFICATIONS or the PLANSpecifications, the BUILDER SELLER shall alter the construction of the VESSEL in accordance therewith therewith, including any addition additions to, or deduction deductions from, the work to be performed in connection with such construction. If due to whatever reasons, the parties hereto fail to agree on the adjustment of the Contract Price or extension of time of delivery or providing additional security to the SELLER or modification of any terms of this Contract which are necessitated by such modifications and/or changes, then the SELLER shall have no obligation to comply with the BUYER's request for any modification and/or changes. The BUILDER may make minor changes to the Specifications, if found necessary for introduction of improved production and construction methods or otherwise, provided that the BUILDER shall first obtain the BUYER’s approval which shall not be unreasonably withheld.

HOW EFFECTED. Minor modifications or changes to the SPECIFICATIONS The Specifications and the PLAN under Plans in accordance with which the VESSEL is to be constructed constructed, may be made modified and/or changed at any time hereafter by written agreement of the parties hereto. Any modification , provided that such modifications and/or changes or change requested by an accumulation thereof will not, in the BUILDERS’ reasonable judgement, adversely affect the BUILDERS’ other commitments and provided further that the BUYER which does not substantially amend the SPECIFICATIONS, shall be agreed to by the BUILDER if the BUYER agrees assent to adjustment of the CONTRACT PRICEContract Price, deadweight and/or cubic capacity, speed requirements, time of delivery of the DELIVERY DATE VESSEL and other terms and conditions of this CONTRACT, reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYERContract, if any, as hereinafter provided. Subject to the BUYER does not above, the SELLER hereby agree to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, if, in the BUILDER's reasonable judgement, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, agrees to exert its their best efforts to accommodate such reasonable request requests by the BUYER so that the said change and modification shall changes and/or modifications may be made at a reasonable cost and within the shortest period of time reasonably which is reasonable and possible. Any such agreement for modifications and/or changes shall include an agreement as to the increase or decrease, if any, in the Contract Price of the VESSEL together with an agreement as to any extension or reduction in the time of delivery, or any other alterations in this Contract, or the Specifications occasioned by such modifications and/or changes. The aforementioned agreement to modify and and/or to change the SPECIFICATIONS and the PLAN Specifications may be effected by an exchange of lettersduly authenticated letters or telefax, email or facsimiles manifesting the such agreement. The letters, emails letters and facsimiles telefaxes exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment to this CONTRACT and of the SPECIFICATIONS or the PLAN Specifications under which the VESSEL shall be built, and such letters and telefaxes shall be deemed to be incorporated into this Contract and the Specifications by reference and made a part hereof. Upon consummation of such an the agreement to modify and and/or to change the SPECIFICATIONS or the PLANSpecifications, the BUILDER SELLER shall alter the construction of the VESSEL in accordance therewith therewith, including any addition additions to, or deduction deductions from, the work to be performed in connection with such construction. If due to whatever reasons, the parties hereto shall fail to agree on the adjustment of the Contract Price or extension of time of delivery or providing additional security to the SELLER or modification of any terms of this Contract which are necessitated by such modifications and/or changes, then the SELLER shall have no obligation to comply with the BUYER’s request for any modification and/or changes.

HOW EFFECTED. Minor modifications or changes to the SPECIFICATIONS and the PLAN under which the VESSEL is to be constructed may be made at any time hereafter by written agreement of the parties hereto. Any modification or change requested by the BUYER which does not substantially amend affect the SPECIFICATIONS, frame-work of the SPECIFICATIONS shall be agreed to by the BUILDER if the BUYER agrees to adjustment of the CONTRACT PRICE, deadweight and/or cubic capacity, speed requirements, the DELIVERY DATE Delivery Date and other terms and conditions of this CONTRACT, CONTRACT reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYER, if the BUYER does not agree to the aforesaid adjustments within seven (7) days of the BUILDER's ’s notification of the same to the BUYER, or, if, in the BUILDER's reasonable ’s judgement, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, agrees to exert its best efforts to accommodate such reasonable request by the BUYER so that the said change and modification shall be made at a reasonable cost and within the shortest period of time reasonably possible. The aforementioned agreement to modify and change the SPECIFICATIONS and the PLAN may be effected by exchange of letters, email letters or facsimiles manifesting the agreement. The letters, emails letters and facsimiles exchanged by the parties pursuant to the foregoing shall constitute an amendment to this CONTRACT and the SPECIFICATIONS or the PLAN under which the VESSEL shall be built. Upon consummation of such an agreement to modify and change the SPECIFICATIONS or the PLAN, the BUILDER shall alter the construction of the VESSEL in accordance therewith including any addition to, or deduction from, the work to be performed in connection with such construction.

HOW EFFECTED. Minor modifications or changes to the SPECIFICATIONS The Specifications and the PLAN under Plans in accordance with which the VESSEL is to be constructed constructed, may be made modified and/or changed at any time hereafter by written agreement of the parties hereto. Any modification , provided that such modifications and/or changes or change requested by an accumulation thereof will not, in the BUILDER’s reasonable judgment, adversely affect the BUILDER’s other commitments and provided further that the BUYER which does not substantially amend the SPECIFICATIONS, shall be agreed to by the BUILDER if the BUYER agrees assent to adjustment of the CONTRACT PRICEContract Price, deadweight and/or cubic capacity, speed requirements, time of delivery of the DELIVERY DATE VESSEL and other terms and conditions of this CONTRACT, reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYERContract, if any, as hereinafter provided. Subject to the BUYER does not above, the SELLER hereby agree to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, if, in the BUILDER's reasonable judgement, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, agrees to exert its their best efforts to accommodate such reasonable request requests by the BUYER so that the said change and modification shall changes and/or modifications may be made at a reasonable cost and within the shortest period of time reasonably which is reasonable and possible. Any such agreement for modifications and/or changes shall include an agreement as to the increase or decrease, if any, in the Contract Price of the VESSEL together with an agreement as to any extension or reduction in the time of delivery, providing additional securities satisfactory to the SELLER, if the increase more than United Sate Dollars , or any other alterations in this Contract, or the Specifications or plans occasioned by such modifications and/or changes. The aforementioned agreement to modify and and/or to change the SPECIFICATIONS and the PLAN Specifications and/or plans may be effected by an exchange of duly authenticated letters, email or facsimiles telefax, manifesting the such agreement. The letters, emails and facsimiles as well as telefaxes exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment to this CONTRACT and of the SPECIFICATIONS or the PLAN Specifications and/or plans under which the VESSEL shall be built, and such letters, and telefaxes shall be deemed to be incorporated into this Contract and the Specifications by reference and made a part hereof. Upon consummation of such an the agreement to modify and and/or to change the SPECIFICATIONS or the PLANSpecifications and/or plans, the BUILDER SELLER shall alter the construction of the VESSEL in accordance therewith therewith, including any addition additions to, or deduction deductions from, the work to be performed in connection with such construction. If due to whatever reasons, the parties hereto shall fail to agree on the adjustment of the Contract Price or extension of time of delivery or providing additional security to the SELLER or modification of any other terms of this Contract which are necessitated by such modifications and/or changes, then the SELLER shall have no obligation to comply with the BUYER’s request for any modification and/or changes.

HOW EFFECTED. Minor modifications or changes to the SPECIFICATIONS The Specifications and the PLAN under Plans in accordance with which the VESSEL is to be constructed constructed, may be made modified and/or changed at any time hereafter by written agreement of the parties hereto. Any modification , provided that such modifications and/or changes or change requested by the BUYER which does not substantially amend the SPECIFICATIONS, shall be agreed to by the BUILDER if the BUYER agrees to adjustment of the CONTRACT PRICE, deadweight and/or cubic capacity, speed requirements, the DELIVERY DATE and other terms and conditions of this CONTRACT, reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYER, if the BUYER does not agree to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, ifan accumulation thereof will not, in the BUILDER's reasonable judgementjudgment, adversely affect the BUILDER's other commitments and provided further that the BUYER shall agree to adjustment of the Contract Price, time of delivery of the VESSEL and other terms of this Contract, if any, as hereinafter provided. Subject to the above, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, agrees SELLER hereby agree to exert its their best efforts to accommodate such reasonable request requests by the BUYER so that the said change and modification shall changes and/or modifications may be made at a reasonable cost and within the shortest period of time reasonably which is reasonable and possible. Any such agreement for modifications and/or changes shall include an agreement as to the increase or decrease, if any, in the Contract Price of the VESSEL together with an agreement as to any extension or reduction in the time of delivery, providing to the SELLER additional securities satisfactory to the SELLER, or any other alterations in this Contract, or the Specifications occasioned by such modifications and/or changes. The aforementioned agreement to modify and and/or to change the SPECIFICATIONS and the PLAN Specifications may be effected by an exchange of lettersletters or e-mail, email or facsimiles manifesting the such agreement. The letters, emails and facsimiles letters or e-mails exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment to this CONTRACT and of the SPECIFICATIONS or the PLAN Specifications under which the VESSEL shall be built, and such letters or e-mails shall be deemed to be incorporated into this Contract and the Specifications by reference and made a part hereof. Upon consummation of such an the agreement to modify and and/or to change the SPECIFICATIONS or the PLANSpecifications, the BUILDER SELLER shall alter the construction of the VESSEL in accordance therewith therewith, including any addition additions to, or deduction deductions from, the work to be performed in connection with such construction. If due to whatever reasons, the parties hereto fail to agree on the adjustment of the Contract Price or extension of time of delivery or providing additional security to the SELLER or modification of any terms of this Contract which are necessitated by such modifications and/or changes, then the SELLER shall have no obligation to comply with the BUYER's request for any modification and/or changes. The BUILDER may make minor changes to the Specifications, if found necessary for introduction of improved production and construction methods or otherwise, provided that the BUILDER shall first obtain the BUYER’s approval which shall not be unreasonably withheld. 20/62 Shipbuilding Contract Hull No.H1596

HOW EFFECTED. Minor Any modifications or and/or changes to in the SPECIFICATIONS and the PLAN Specifications under which the VESSEL is to be constructed may shall be made at any time hereafter by written agreement of the parties hereto. Any modification hereto provided, however, that any modifications and/or changes will not adversely affect the SELLER’s planning or change requested by programme in relation to the BUYER which does not substantially amend the SPECIFICATIONS, shall be agreed to by the BUILDER SELLER’s other commitments and if the BUYER agrees and SELLER shall agree to adjustment of the CONTRACT PRICEContract Price, deadweight and/or cubic capacity, speed requirements, time for delivery of the DELIVERY DATE VESSEL and other terms and conditions of this CONTRACT, reasonably required Contract as a result of such modification or changehereinafter provided. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYER, if the BUYER does not agree to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, if, in the BUILDER's reasonable judgement, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, SELLER hereby agrees to exert its best efforts to accommodate such reasonable request by the BUYER so that the said change and modification shall changes and/or modifications may be made at a reasonable cost and within the shortest period of time which is reasonably possible. Any such agreement for modifications and/or changes shall include an agreement as to the increase or decrease, if any, in the Contract Price of the VESSEL and if necessary which instalment is to reflect the increase or decrease of the Contract Price together with an agreement as to any extension or reduction in the time of delivery, or any other alterations in this Contract, or the Specifications or the Approved Drawings occasioned by such modifications and/or changes. If after the exertion of such best efforts by the SELLER in response to the BUYER’s reasonable request, the parties fail to conclude the above-mentioned agreement, then the SELLER shall have no obligation to comply with the BUYER’s request. The aforementioned agreement to modify and and/or change the SPECIFICATIONS and the PLAN Specifications and/or Approved Drawings may be effected by an exchange of lettersletters signed by the authorized Representatives of the parties hereto, email or facsimiles telex or facsimile confirmed in writing, manifesting the such agreement. The letters, emails Such letters and facsimiles confirmed telex and facsimile exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment to this CONTRACT of the Specifications, and the SPECIFICATIONS or the PLAN under which the VESSEL such letters and telex and facsimile shall be builtincorporated into this Contract and made a part hereof. Upon consummation The SELLER may make minor changes to the Specifications, if found necessary for introduction of such an agreement to modify and change improved production methods or otherwise, provided that the SPECIFICATIONS or SELLER shall first obtain the PLAN, the BUILDER BUYER’s written approval which shall alter the construction of the VESSEL in accordance therewith including any addition to, or deduction from, the work to not be performed in connection with such constructionunreasonably withheld.

HOW EFFECTED. Minor modifications Modifications or changes to the SPECIFICATIONS and the PLAN under which the VESSEL is to be constructed may be made at any time hereafter by written agreement of the parties hereto. Any modification or change requested by the BUYER which does not substantially amend affect the SPECIFICATIONS, SPECIFICATIONS to a fundamental extent shall be agreed to by the BUILDER if the BUYER agrees to adjustment of the CONTRACT PRICE, deadweight and/or cubic capacity, speed requirements, the DELIVERY DATE Delivery Date and other terms and conditions of this CONTRACT, CONTRACT reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of to the SPECIFICATIONS and/or the PLAN requested by the BUYER, BUYER if the BUYER does not agree to the aforesaid adjustments within seven fourteen (714) days of the BUILDER's ’S notification of the same to the BUYER, or, BUYER or if, in the BUILDER's reasonable ’s judgement, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, agrees to exert its best reasonable efforts to accommodate such reasonable request by the BUYER so that the said change and modification shall be made at a reasonable cost and within the shortest period of time reasonably possible. The aforementioned agreement to modify and change the SPECIFICATIONS and the PLAN may be effected by exchange of letters, email letters or facsimiles manifesting the agreement. The letters, emails letters and facsimiles exchanged by the parties pursuant to the foregoing shall constitute an amendment to this CONTRACT and the SPECIFICATIONS or the PLAN under which the VESSEL shall be built. Upon consummation of such an agreement to modify and change the SPECIFICATIONS or the PLANSPECIFICATIONS, the BUILDER shall alter the construction of the VESSEL in accordance therewith including any addition to, or deduction from, the work to be performed in connection with such construction.

HOW EFFECTED. Minor modifications or changes to the SPECIFICATIONS and the PLAN under which the VESSEL is to be constructed may be made at any time hereafter by written agreement of the parties hereto. Any modification or change requested by the BUYER which does not substantially amend the SPECIFICATIONS, shall be agreed to by the BUILDER if the BUYER agrees to adjustment of the CONTRACT PRICE, deadweight and/or cubic capacity, speed requirements, the DELIVERY DATE and other terms and conditions of this CONTRACT, reasonably required as a result of such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYER, if the BUYER does not agree to the aforesaid adjustments within seven (7) days of the BUILDER's ’s notification of the same to the BUYER, or, if, in the BUILDER's ’s reasonable judgement, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, agrees to exert its best efforts to accommodate such reasonable request by the BUYER so that the said change and modification shall be made at a reasonable cost and within the shortest period of time reasonably possible. The aforementioned agreement to modify and change the SPECIFICATIONS and the PLAN may be effected by exchange of letters, email or facsimiles manifesting the agreement. The letters, emails and facsimiles exchanged by the parties pursuant to the foregoing shall constitute an amendment to this CONTRACT and the SPECIFICATIONS or the PLAN under which the VESSEL shall be built. Upon consummation of such an agreement to modify and change the SPECIFICATIONS or the PLAN, the BUILDER shall alter the construction of the VESSEL in accordance therewith including any addition to, or deduction from, the work to be performed in connection with such construction.

HOW EFFECTED. Minor modifications or changes to the SPECIFICATIONS The Specifications and the PLAN under Plans in accordance with which the VESSEL is to shall be constructed constructed, may be made modified and/or changed at any time hereafter by written agreement of the parties hereto. Any modification , provided that such modifications and/or changes or change requested by an accumulation thereof will not, in the SELLER’s reasonable judgement, adversely affect the BUILDER’s other commitments and provided further that the BUYER which does not substantially amend the SPECIFICATIONSshall consent, shall be agreed if necessary, to by the BUILDER if the BUYER agrees to a fair and reasonable adjustment of the CONTRACT PRICEContract Price, deadweight and/or cubic capacity, speed requirements, time of delivery of the DELIVERY DATE VESSEL and other terms and conditions of this CONTRACTContract, reasonably required as a result of and/or the Specifications occasioned by such modification or change. The BUILDER has the right to continue construction of the VESSEL on the basis of the SPECIFICATIONS and the PLAN until the BUYER has agreed to such adjustments. The BUILDER shall be entitled to refuse to make any alteration, change or modification of the SPECIFICATIONS and/or the PLAN requested by the BUYERchanges, if the BUYER does not agree any, as hereinafter provided. Subject to the aforesaid adjustments within seven (7) days of the BUILDER's notification of the same to the BUYER, or, if, in the BUILDER's reasonable judgementabove, the compliance with such request of the BUYER would cause an unreasonable disruption of the normal working schedule of the SHIPYARD. The BUILDER, however, SELLER hereby agrees to exert its best efforts to accommodate such reasonable request requests by the BUYER so that the said change and modification shall changes and/or modifications may be made at a reasonable cost and within the shortest period practicable time. Any such agreement for modifications and/or changes shall include an agreement as to the increase or decrease, if any, in the Contract Price of time reasonably possiblethe VESSEL together with an agreement as to any extension or reduction in the date of delivery, the provision to the SELLER of any additional securities necessary to the SELLER, or any other alterations in this Contract, or the Specifications occasioned by such modifications and/or changes. The aforementioned agreement to modify and and/or to change the SPECIFICATIONS and the PLAN Specifications may be effected by an exchange of lettersletter, email or facsimiles telefaxes signed in each case by an authorised representative of the relevant party, manifesting the such agreement. The letters, emails and facsimiles letters as well as telefaxes exchanged by the parties hereto pursuant to the foregoing shall constitute an amendment to this CONTRACT and the SPECIFICATIONS or the PLAN Specifications under which the VESSEL shall be built, and such letters and telefaxes shall be deemed to be incorporated into this Contract and the Specifications by reference and made a part hereof. Upon consummation of such an the agreement to modify and and/or to change the SPECIFICATIONS or the PLANSpecifications, the BUILDER SELLER shall without delay alter the construction of the VESSEL in accordance therewith therewith, including any addition additions to, or deduction deductions from, the work to be performed in connection with such construction. If due to whatever reasons, the parties hereto shall fail to agree on the adjustment of the Contract Price or extension of time of delivery or the provision of additional security to the SELLER or modification of any terms of this Contract which are necessitated by such modifications and/or changes, then the SELLER shall have no obligation to comply with the BUYER’s request for any modification and/or changes.