Common use of INSUFFICIENT SPEED Clause in Contracts

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. (b) However, as for the deficiency of more than three-tenths (3/10) of a knot in actual speed below the speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Thousand (U.S.$ 79,000) for each full one-tenth (1/10) of a knot in excess of the said three tenths (3/10) of a knot of deficiency in speed, with fractions of less than one-tenth (1/10) of a knot being regarded as a full one-tenth (1/10) of a knot of deficiency. However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine tenths (9/10) of a knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine tenths (9/10) of a knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's right to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine tenths (9/10) of a knot of deficiency only.

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. (b) However, as for the deficiency of more than threetwo-tenths (3/102/10) of a knot in actual speed below the speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Two Hundred Thousand only (U.S.$ 79,000200,000.-) for each full one-tenth (1/10) of a knot in excess of the said three two-tenths (3/102/10) of a knot of deficiency in speed, with speed [fractions of less than one-tenth (1/10) of a knot being shall be regarded as a full one-tenth (1/10) of a knot of deficiencyknot]. However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine tenths one (9/101) of a full knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine seven point five-tenths (9/107.5/10) of a knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's ’s right to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL and cancel rescind this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine seven point five-tenths (9/107.5/10) of a knot of deficiency only.

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. (b) However, as for the deficiency of more than three-tenths (3/103/10ths) of a one (1) knot in actual speed below the speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Thousand (U.S.$ 79,000) for each full one-tenth (1/10) of a knot in excess of the said three tenths (3/10) of a knot of deficiency in speed, with fractions as follows [Fractions of less than one-tenth (1/101/10th) of a knot being regarded as a full oneshall be prorated]: For the three-tenth tenths (1/103/10ths) of a knot — a total sum of deficiencyUS $100,000 For the four-tenths (4/10ths) of a knot ——a total sum of US $175,000 For the five-tenths (5/10ths) of a knot —— a total sum of US $390,000 For the six-tenths (6/10ths) of a knot ——– a total sum of US $520,000 For the seven-tenths (7/10ths) of a knot —— a total sum of US $650,000 For the eight-tenths (8/10ths) of a knot —— a total sum of US $780,000 * The above figures are not cumulative. However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine eight-tenths (9/108/10ths) of a one (1) knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine eight-tenths (9/108/10ths) of a one (1) knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's ’s right to effect alterations or corrections as provided in Article VI.5VI 5 . hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine eight-tenths (9/108/10ths) of a one (1) knot of deficiency only.

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. (b) However, as for the deficiency of more than three-three tenths (3/10) of a knot in actual speed below the speed guaranteed under this CONTRACTspeed, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Eighty Thousand (U.S.$ 79,000US$80,000) for each full one-tenth (1/10) of a knot in excess of the said three tenths (3/10) of a knot of deficiency in speed, with speed (fractions of less than one-tenth (1/10) of a knot being shall be regarded as a full one-tenth (1/10) of a knot of deficiencyknot). However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine tenths one (9/101) of a full knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine tenths one (9/101) of a full knot below the speed guaranteed under this CONTRACTspeed, then the BUYER, at its option, may, subject to the BUILDER's ’s right to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine tenths one (9/101) of a full knot of deficiency only.

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. (b) However, as for the deficiency of more than three-tenths (3/10) of a knot in actual speed below the speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Thousand one hundred thousand (U.S.$ 79,000100,000) for each full one-tenth (1/10) of a knot in excess of the said three three-tenths (3/10) of a knot of deficiency in speed, with speed (fractions of less than one-tenth (1/10) of a knot being shall be regarded as a full one-tenth (1/10) of a knot of deficiencyknot). However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine eight-tenths (9/108/10) of a knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine eight-tenths (9/108/10) of a knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's ’s right to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL rescind and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine eight-tenths (9/108/10) of a knot of deficiency only.

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. (b) However, as for the deficiency of more than three-three tenths (3/10) of a knot in actual speed below the speed guaranteed under this CONTRACTspeed, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Eighty Thousand (U.S.$ 79,000US$ 80,000) for each full one-tenth (1/10) of a knot in excess of the said three tenths (3/10) of a knot of deficiency in speed, with speed (fractions of less than one-tenth (1/10) of a knot being shall be regarded as a full one-tenth (1/10) of a knot of deficiencyknot). However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine tenths one (9/101) of a full knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine tenths one (9/101) of a full knot below the speed guaranteed under this CONTRACTspeed, then the BUYER, at its option, may, subject to the BUILDER's ’s right to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine tenths one (9/101) of a full knot of deficiency only.

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. (b) However, as for the deficiency of more than three-tenths (3/10) of a knot in actual speed below the speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Thousand (U.S.$ 79,000) for each full oneas follows: For more than the three-tenth (1/10) of a knot in excess of the said three tenths (3/10) of a knot — a total sum of deficiency in speed, with fractions US$ 145,000 For more than the four-tenths (4/10) of a knot — a total sum of US$ 290,000 For more than the five-tenths (5/10) of a knot — a total sum of US$ 435,000 For more than the six-tenths (6/10) of a knot — a total sum of US$ 580,000 For more than the seven-tenths (7/10) of a knot — a total sum of US$ 725,000 For more than the eight-tenths (8/10) of a knot — a total sum of US$ 870,000 * The above figures are not cumulative. Fractions of less than one-tenth (1/10) of a knot being shall be regarded as a full one-tenth (1/10) of a knot of deficiencyknot. However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine tenths nine-tenth (9/10) of a one (1) full knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine tenths nine-tenth (9/10) of a one (1) full knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's ’s right to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine tenths nine-tenth (9/10) of a one (1) full knot of deficiency only.

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. (b) However, as for the deficiency of more than three-tenths (3/10) of a knot in actual speed below the speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Eighty Thousand (U.S.$ 79,000US$80,000) for each full one-tenth (1/10) of a knot in excess of the said three three-tenths (3/10) of a knot of deficiency in speed, with fractions . Fractions of less than one-tenth (1/10) of a knot being shall be regarded as a full one-tenth (1/10) of a knot of deficiencyknot. However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine tenths one (9/101) of a full knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine tenths one (9/101) of a full knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's right ’s fight to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine tenths one (9/101) of a full knot of deficiency only.

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. (b) However, as for the deficiency of more than three-tenths (3/10) of a knot in actual speed below the speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Thousand (U.S.$ 79,000) for each full one-tenth (1/10) of a knot in excess of the said three tenths (3/10) of a knot of deficiency in speed, with fractions of less than one-tenth (1/10) of a knot being regarded as a full one-tenth (1/10) of a knot of deficiency. However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine tenths (9/10) of a knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine tenths (9/10) of a knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's ’s right to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine tenths (9/10) of a knot of deficiency only.

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. (b) However, as for the deficiency of more than three-tenths (3/10) of a knot in actual speed below the speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Eighty Thousand (U.S.$ 79,000US$80,000) for each full one-tenth (1/10) of a knot in excess of the said three three-tenths (3/10) of a knot of deficiency in speed, with fractions . Fractions of less than one-tenth (1/10) of a knot being shall be regarded as a full one-tenth (1/10) of a knot of deficiencyknot. However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine tenths one (9/101) of a full knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine tenths one (9/101) of a full knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's ’S right to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine tenths one (9/101) of a full knot of deficiency only.

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. (b) However, as for the deficiency of more than three-tenths tenth (3/103/10ths) of a knot in actual speed below the speed guaranteed under this CONTRACTGuaranteed Speed, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine U.S.Dollars One Hundred and Forty Thousand (U.S.$ 79,000US$140,000) for each full one-tenth (1/101/10th) of a knot in excess of the said three tenths three-tenth (3/103/10ths) of a knot of deficiency in speed, with speed (fractions of less than one-tenth (1/101/10th) of a knot being shall be regarded as a full one-tenth (1/101/10th) of a knot of deficiencyknot). However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine eight-tenths (9/108/10ths) of a one (1) full knot below the guaranteed speed Guaranteed Speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine eight-tenths (9/108/10ths) of a one (1) full knot below the speed guaranteed Guaranteed Speed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's ’S right to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine eight-tenths (9/108/10ths) of a one (1) full knot of deficiency only.

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. (b) However, as for the deficiency of equal to or more than threeThree-tenths Tenths (3/10) of a knot in actual speed below the speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Thousand (U.S.$ 79,000) for each full oneas follows: For Three-tenth (1/10) of a knot in excess of the said three tenths (3/10) of a one (1) knot of deficiency in speed, with fractions of less than oneor more US$[***] per 0.1kts For Four-tenth tenths (1/104/10) of a one (1) knot being regarded as a full oneor more US$[***] per 0.1kts For Five-tenth tenths (1/105/10) of a one (1) knot or more US$[***] per 0.1kts For Six-tenths (6/10) of deficiency. However, unless the parties agree otherwise, the total amount one (1) knot or more US$[***] per 0.1kts For Seven-tenths (7/10) of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency one (1) knot or more US$[***] per 0.1kts For Eight-tenths (8/10) of nine one (1) knot or more US$[***] per 0.1kts For Nine-tenths (9/10) of a one (1) knot below the guaranteed speed at the rate of reduction as specified above.or more US$[***] per 0.1kts (c) If the deficiency in actual speed of the VESSEL is more than nine tenths One (9/101) of a full knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's right to effect alterations or corrections as provided in Article VI.5VI.6. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine tenths One (9/101) of a full knot of deficiency only.

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. (b) However, as for the deficiency of more than three-tenths (3/10) of a knot in actual speed below the speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Eighty Thousand (U.S.$ 79,000US$80,000) for each full one-tenth (1/10) of a knot in excess of the said three three-tenths (3/10) of a knot of deficiency in speed, with fractions . Fractions of less than one-tenth (1/10) of a knot being shall be regarded as a full one-tenth (1/10) of a knot of deficiencyknot. However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine tenths one (9/101) of a full knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine tenths one (9/101) of a full knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's ’s right to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine tenths one (9/101) of a full knot of deficiency only.

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. (b) However, as for the deficiency of more than three-tenths tenth (3/103/10ths) of a knot in actual speed below the speed guaranteed under this CONTRACTGuaranteed Speed, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine One Hundred and Forty Thousand (U.S.$ 79,000US$140,000) for each full one-tenth (1/101/10th) of a knot in excess of the said three tenths three-tenth (3/103/10ths) of a knot of deficiency in speed, with speed (fractions of less than one-tenth (1/101/10th) of a knot being shall be regarded as a full one-tenth (1/101/10th) of a knot of deficiencyknot). However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine eight-tenths (9/108/10ths) of a one (1) full knot below the guaranteed speed Guaranteed Speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine eight-tenths (9/108/10ths) of a one (1) full knot below the speed guaranteed Guaranteed Speed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's ’S right to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine eight-tenths (9/108/10ths) of a one (1) full knot of deficiency only.

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. (b) However, as for the deficiency of more than three-tenths (3/10) of a knot in actual speed below the speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Eighty Thousand (U.S.$ 79,000US$80,000) for each full one-tenth (1/10) of a knot in excess of the said three three-tenths (3/10) of a knot of deficiency in speed, with fractions . Fractions of less than one-tenth (1/10) of a knot being shall be regarded as a full one-tenth (1/10) of a knot of deficiencyknot. However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine tenths one (9/101) of a full knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine tenths one (9/101) of a full knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's ’s right to effect alterations or of corrections as provided in Article VI.5. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine tenths one (9/101) of a full knot of deficiency only.

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. (b) However, as for the deficiency of more than three-tenths (( 3/10) of a knot in actual speed below the speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Thousand one hundred thousand (U.S.$ 79,000100,000) for each full one-tenth (( 1/10) of a knot in excess of the said three three-tenths (( 3/10) of a knot of deficiency in speed, with speed (fractions of less than one-tenth (( 1/10) of a knot being shall be regarded as a full one-tenth (( 1/10) of a knot of deficiencyknot). However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine eight-tenths (9/10( 8/10) of a knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine eight-tenths (9/10( 8/10) of a knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's ’s right to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL rescind and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine eight-tenths (9/10( 8/10) of a knot of deficiency only.

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. (b) However, as for the commencing with and including a deficiency of more than three-tenths (3/10) of a knot in actual speed below the speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Thousand (U.S.$ 79,000) for each full one-one tenth (1/10) of a knot in excess of the said three tenths (3/10) of a knot of deficiency in speed, with speed [fractions of less than one-tenth (1/10) of a knot being shall be regarded as a full one-tenth (1/10) of a knot] as follows. For three tenths (3/10) of a knot a total sum of deficiencyUS$60,000.- For four tenths (4/10) of a knot a total sum of US$120,000.- For five tenths (5/10) of a knot a total sum of US$180,000.- For six tenths (6/10) of a knot a total sum of US$240,000.- For seven tenths (7/10) of a knot a total sum of US$300,000.- For eight tenths (8/10) of a knot a total sum of US$360,000.- For nine tenths (9/10) of a knot a total sum of US$420,000.- For one (1) knot a total sum of US$480,000.- The above figures are not cumulative. However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine tenths one (9/101) of a full knot below the guaranteed speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine tenths one (9/101) of a full knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's ’s right to effect alterations or corrections as provided in Article VI.5. hereof, reject the VESSEL and cancel this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine tenths one (9/101) of a full knot of deficiency only.

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. (b) However, as for For the deficiency of more than exceeding three-tenths (3/10) of a knot in actual speed below the Guaranteed trial speed guaranteed under this CONTRACT, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Thousand (U.S.$ 79,000US$ ) for the initial full one-tenth (1/10) in excess of the said three-tenths (3/10) and thereafter (US$ . ) per each full one-tenth (1/10) of a knot in excess of the said three four-tenths (3/104/10) of a knot of deficiency in speed, with speed (fractions of less than one-tenth (1/10) of a knot being regarded as a full one-tenth (1/10) of a knot of deficiency. Howevershall be disregarded), provided that, unless the parties hereto agree otherwise, the total amount of reduction from the CONTRACT PRICE due to insufficient speed shall not exceed the amount due to cover covering the deficiency of nine tenths one (9/101) of a full knot below the guaranteed speed at the rate of reduction as specified abovespeed. (c) If the deficiency in actual speed of the VESSEL is more than nine tenths exceeding one (9/101) of a full knot below the speed guaranteed under this CONTRACT, then the BUYER, at its option, may, subject to the BUILDER's ’s right to effect alterations or corrections as provided in Article VI.5. hereofARTICLE VI.6 (c) and (d), may reject the VESSEL and cancel terminate this CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine in the amount equal to covering the deficiency of seven-tenths (9/107/10) of a knot of deficiency only counted over the first three-tenths (3/10) a knot below the Guaranteed trial speed only.

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. (b) However, as for the deficiency of more than three-tenths (3/10) of a knot in actual speed below the speed guaranteed under this CONTRACTGuaranteed Speed, the CONTRACT PRICE shall be reduced by U.S. Dollars Seventy Nine Thousand (U.S.$ 79,000) [ ] for each full one-tenth (1/10) of a knot in excess of the said three three-tenths (3/10) of a knot of deficiency in speed, with speed (fractions of less than one-tenth (1/10) of a knot being shall be regarded as a full one-tenth (1/10) of a knot of deficiencyknot). However, unless the parties agree otherwise, the total amount of reduction from the CONTRACT PRICE shall not exceed the amount due to cover the deficiency of nine seven-tenths (9/107/10) of a knot below the guaranteed speed Guaranteed Speed at the rate of reduction as specified above. (c) If the deficiency in actual speed of the VESSEL is more than nine seven-tenths (9/107/10) of a knot below the speed guaranteed under this CONTRACTGuaranteed Speed, then the BUYER, at its option, may, subject to the BUILDER's Builder’s right to effect alterations or corrections as provided in Article VI.5. VI hereof, reject the VESSEL and cancel this thus CONTRACT or may accept the VESSEL at a reduction in the CONTRACT PRICE as above provided for nine seven-tenths (9/107/10) of a knot of deficiency only.