INSUFFICIENT SPEED. (a) The CONTRACT PRICE of the VESSEL shall not be affected or changed, if the actual speed, as determined by trial runs more fully described in Article VI hereof, is less than the speed required under the terms of this CONTRACT and the SPECIFICATIONS provided such deficiency in actual speed is not more than three tenths (3/10) of a knot below the guaranteed speed.
Appears in 10 contracts
Samples: Shipbuilding Contract (DHT Holdings, Inc.), Shipbuilding Contract (DHT Holdings, Inc.), Shipbuilding Contract (DHT Holdings, Inc.)
INSUFFICIENT SPEED. (a) The CONTRACT PRICE of the VESSEL shall not be affected or changed, if the actual speed, as determined by trial runs more fully described in Article VI hereof, is less than the speed required under the terms of this CONTRACT and the SPECIFICATIONS provided such deficiency in actual speed is not more than three three-tenths (3/10) of a knot below the guaranteed speed.
Appears in 10 contracts
Samples: Shipbuilding Contract (Gener8 Maritime, Inc.), Shipbuilding Contract (Gener8 Maritime, Inc.), Shipbuilding Contract (Gener8 Maritime, Inc.)
INSUFFICIENT SPEED. (a) The CONTRACT PRICE of the VESSEL shall not be affected or changed, if the actual speed, as determined by trial runs more fully described in Article VI hereof, is less than the guaranteed speed required under the terms of this CONTRACT and the SPECIFICATIONS as defined in Article I paragraph 2 hereof, provided such deficiency in actual speed is not more than three tenths (3/10) of a knot below the guaranteed speed.
Appears in 6 contracts
Samples: Gener8 Maritime, Inc., Gener8 Maritime, Inc., Gener8 Maritime, Inc.
INSUFFICIENT SPEED. (a) The CONTRACT PRICE of the VESSEL shall not be affected or changed, if the actual speed, as determined by trial runs more fully described in Article VI hereof, is less than the speed required under the terms of this CONTRACT and the SPECIFICATIONS provided such deficiency in actual speed is not more than three two-tenths (3/102/10) of a knot below the guaranteed speed.
Appears in 5 contracts
Samples: Shipbuilding Contract (Danaos Corp), Shipbuilding Contract (Danaos Corp), Shipbuilding Contract (Danaos Corp)
INSUFFICIENT SPEED. (a) The CONTRACT PRICE of the VESSEL shall not be affected or changed, if the actual speed, as determined by trial runs more fully described in Article VI hereof, is less than the speed required guaranteed under the terms of this CONTRACT and the SPECIFICATIONS provided such deficiency in actual speed is not more than three three-tenths (3/103/10ths) of a one (1) knot below the guaranteed speed.
Appears in 4 contracts
Samples: Shipbuilding Contract (Quintana Maritime LTD), Shipbuilding Contract (Quintana Maritime LTD), Shipbuilding Contract (Quintana Maritime LTD)
INSUFFICIENT SPEED. (ai) The CONTRACT PRICE Contract Price of the VESSEL Vessel shall not be affected or changed, if the actual speed, as determined by trial runs more fully described in Article VI 6 hereof, is less than the speed required under the terms of this CONTRACT Contract and the SPECIFICATIONS Specifications provided such deficiency in actual speed is not more less than three three-tenths (3/10) of a one knot below the guaranteed speed.
Appears in 4 contracts
Samples: Shipbuilding Contract (Ardmore Shipping Corp), Shipbuilding Contract (Ardmore Shipping Corp), Shipbuilding Contract (Ardmore Shipping Corp)
INSUFFICIENT SPEED. (a) The CONTRACT PRICE of the VESSEL shall not be affected or changed, if the actual speed, as determined by trial runs more fully described in Article VI hereof, is less than the speed required under the terms of this CONTRACT and the SPECIFICATIONS Guaranteed Speed provided such deficiency in actual speed is not more than three tenths three-tenth (3/103/10ths) of a knot below the guaranteed speedGuaranteed Speed.
Appears in 2 contracts
Samples: Shipbuilding Contract (Alma Maritime LTD), Shipbuilding Contract (Alma Maritime LTD)
INSUFFICIENT SPEED. (a) The CONTRACT PRICE of the VESSEL shall not be affected or changed, if the actual speed, as determined by trial runs more fully described in Article VI hereof, is less than the speed required under the terms of this CONTRACT and the SPECIFICATIONS provided such deficiency in actual speed is not more than three three-tenths (( 3/10) of a knot below the guaranteed speed.
Appears in 1 contract
Samples: Shipbuilding Contract (Seaspan CORP)
INSUFFICIENT SPEED. (a) The CONTRACT PRICE of the VESSEL shall not be affected or changed, changed by reason of insufficient speed if the actual speed, as speed determined by trial runs as more fully described in Article ARTICLE VI hereofis not, is less up to the maximum deficiency of three-tenths (3/10) of a knot, slower than the Guaranteed trial speed required under the terms of this CONTRACT and the SPECIFICATIONS provided such deficiency in actual speed is not more than three tenths (3/10) of a knot below the guaranteed speedSPECIFICATIONS.
Appears in 1 contract
INSUFFICIENT SPEED. (a) The CONTRACT PRICE of the VESSEL shall not be affected or changed, if the actual speed, as determined by trial runs more fully described in Article VI hereof, is less than the speed required under the terms of this CONTRACT and the SPECIFICATIONS (the “Guaranteed Speed”) provided such deficiency in actual speed is not more than three three-tenths (3/10) of a knot below the guaranteed speedGuaranteed Speed.
Appears in 1 contract
Samples: Shipbuilding Contract (Tsakos Energy Navigation LTD)
INSUFFICIENT SPEED. (a) The CONTRACT PRICE of the VESSEL shall not be affected or changed, if the actual speed, as determined by trial runs trials more fully described in Article VI hereof, is less than the speed required under the terms of this CONTRACT and the SPECIFICATIONS provided such deficiency in actual speed is not equal to or more than three tenths Three-Tenths (3/10) of a knot below the guaranteed speed.
Appears in 1 contract
