Common use of INSUFFICIENT CONTAINER CAPACITY Clause in Contracts

INSUFFICIENT CONTAINER CAPACITY. (a) The CONTRACT PRICE shall not be affected or changed by reason of deficiency in the number of containers if such deficiency is up to 30 TEU containers below the guaranteed container capacity of 5,087 TEU in accordance with IMO visibility requirement at Xxxxxxxxx Draft of 13.65 meters with even keel. (b) However, in the event that the deficiency in the guaranteed container capacity, is in excess of 30 TEU containers, then the CONTRACT PRICE shall be reduced by United States Dollars forty thousand (US$ 40,000) for each TEU container in excess of the first allowable 30 TEU containers of such deficient number of containers. However, unless the parties agree otherwise, the total amount of deduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of 80 TEU containers below the guaranteed container capacity hereinabove. (c) If the deficiency in the guaranteed container capacity is 80 TEU containers or more, then the BUYER, at its option, may reject the VESSEL and rescind and cancel this CONTRACT in accordance with the provisions of this Article or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for 80 TEU containers of deficiency only.

INSUFFICIENT CONTAINER CAPACITY. (a) The CONTRACT PRICE shall not be affected or changed by reason of deficiency in the number of containers if such deficiency is up to 30 TEU containers below the guaranteed container capacity of 5,087 TEU XXX in accordance with IMO visibility requirement at Xxxxxxxxx Draft of 13.65 meters with even keel. (b) However, in the event that the deficiency in the guaranteed container capacity, is in excess of 30 TEU containers, then the CONTRACT PRICE shall be reduced by United States Dollars forty thousand (US$ 40,000) for each TEU container in excess of the first allowable 30 TEU containers of such deficient number of containers. However, unless the parties agree otherwise, the total amount of deduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of 80 TEU containers below the guaranteed container capacity hereinabove. (c) If the deficiency in the guaranteed container capacity is 80 TEU containers or more, then the BUYER, at its option, may reject the VESSEL and rescind and cancel this CONTRACT in accordance with the provisions of this Article or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for 80 TEU containers of deficiency only.