Common use of Modification of Specifications Clause in Contracts

Modification of Specifications. Within thirty-four (34) calendar days of the Construction Commencement Date, the Specifications may be modified and/or changed by BUYER as respects machinery arrangements and/or systems installations without altering the Contract Price or the Delivery Date if such modifications or changes do not necessitate structural changes. The Specifications may also be otherwise modified and/or changed at any time by written agreement of the parties hereto, provided, that the BUYER and the BUILDER shall first agree to alterations in the Contract Price and the Delivery Date, if any, occasioned by or resulting from such modifications and/or changes. Any such alterations in the Delivery Date as may be mutually agreed in writing shall be understood to be Permissible Delays as contemplated by Article III, Paragraph 2. In the event the parties are unable to agree upon such alteration, if any, to the Contract Price or the Delivery Date, BUILDER shall proceed with such modification or change and any area of disagreement that cannot subsequently be resolved between BUILDER and BUYER shall be resolved in accordance with Paragraph 4 of this Article. Within fifteen (15) calendar days of BUYER's notification to BUILDER to proceed with modifications or changes to the Specifications, BUILDER shall notify BUYER in writing of any such modifications or changes that will have an impact on the Contract Price and/or the Delivery Date or which otherwise would require issuance of a Change Order to this Contract, including complete details of the nature of such impact. Failure of BUILDER to so notify BUYER shall be deemed a waiver of BUILDER's right to subsequently claim for any change in the Contract Price or the Delivery Date or issuance of any Change Order associated with such modifications or changes. Such agreement shall be effected by exchange of letters signed by the authorized representatives of the parties hereto, which shall constitute amendments to this Contract and/or Specifications. The BUILDER may make minor changes to the Specifications, if found necessary for introduction of improved production methods or otherwise, provided that the BUILDER shall first obtain the BUYER's written approval thereof.

Modification of Specifications. Within thirty-four (34) calendar days of The Specifications and plans in accordance with which the Construction Commencement DateVESSEL shall be constructed, the Specifications may be modified and/or changed by BUYER as respects machinery arrangements and/or systems installations without altering the Contract Price or the Delivery Date if such modifications or changes do not necessitate structural changes. The Specifications may also be otherwise modified and/or changed at any time hereafter by written agreement of the parties Parties hereto, providedprovided that such modifications and/or changes or an accumulation thereof will not, in the BUILDER’s reasonable judgement, materially affect the BUILDER’s other commitments and provided further that the BUYER shall assent to adjustment of the Contract Price, date of delivery of the VESSEL and other terms of this Contract, if any, as provided herein. Subject to the above, the BUILDER hereby agrees to accommodate such reasonable requests by the BUYER so that the said changes and/or modifications may be made at reasonable and justified cost, and within the shortest period of time reasonably possible. Any such agreement in writing for modifications and/or changes shall first agree include an agreement as to alterations the increase or decrease, if any, in the Contract Price and of the Delivery DateVESSEL together with an agreement as to any extension or reduction in the time of delivery, if anyor any other alterations in this Contract, or the Specifications occasioned by or resulting from such modifications and/or changes. Any such alterations in The aforementioned agreement to modify and/or to change the Delivery Date as Specifications may be mutually agreed in writing effected by an exchange of duly authenticated letters or telefaxes, manifesting such agreement. The letters and telefaxes exchanged by the Parties hereto pursuant to the foregoing shall constitute an amendment of the Specifications under which the VESSEL shall be understood built, and such letters and telefaxes shall be deemed to be Permissible Delays as contemplated incorporated into this Contract and the Specifications by Article IIIreference and made a part hereof. Upon consummation of the agreement to modify and/or to change the Specifications, Paragraph 2the BUILDER shall alter the construction of the VESSEL in accordance therewith, including any additions to, or deductions from, the work to be performed in connection with such construction. In If, for whatever reasons, the event the parties are unable Parties hereto shall fail, within a reasonable period, to agree upon such alteration, if any, to 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 Delivery Date, BUILDER shall proceed with such modification or change and any area of disagreement that cannot subsequently be resolved between BUILDER and BUYER shall be resolved in accordance with Paragraph 4 of this Article. Within fifteen (15) calendar days of BUYER's notification entitled to BUILDER refuse to proceed with modifications or changes to the Specifications, BUILDER shall notify BUYER in writing of make any such modifications or changes that will have an impact on requested by the Contract Price and/or the Delivery Date or which otherwise would require issuance of BUYER by a Change Order to this Contract, including complete details notification of the nature of such impact. Failure of BUILDER same in writing to so notify BUYER shall be deemed a waiver of BUILDER's right to subsequently claim for any change in the Contract Price or the Delivery Date or issuance of any Change Order associated with such modifications or changes. Such agreement shall be effected by exchange of letters signed by the authorized representatives of the parties hereto, which shall constitute amendments to this Contract and/or SpecificationsBUYER. The BUILDER may make minor changes to the Specifications, if found necessary for introduction of improved production methods or otherwise, provided that the BUILDER shall first obtain the BUYER's written approval thereof’s approval.

Modification of Specifications. Within thirty-four (34a) calendar days Any MODIFICATION or variation of or amendment to the Construction Commencement Date, the Specifications may SPECIFICATIONS shall be modified and/or changed by BUYER as respects machinery arrangements and/or systems installations without altering the Contract Price or the Delivery Date if such modifications or changes do not necessitate structural changes. The Specifications may also be otherwise modified and/or changed at any time evidenced by written agreement of the parties hereto, hereto (a “CHANGE ORDER”); provided, that prior to any MODIFICATION or variation being effected by the BUYER and BUILDER, the BUILDER parties shall first agree to alterations in the Contract Price CONTRACT PRICE, the DELIVERY DATE, lightship weight and the Delivery Date, if any, other terms and conditions of this CONTRACT and SPECIFICATIONS occasioned by or resulting from such modifications and/or changesMODIFICATION or variation within seven (7) days from the receipt by BUYER of BUILDER’s proposal. Any such alterations in BUILDER has the Delivery Date as may be mutually agreed in writing shall be understood right to be Permissible Delays as contemplated by Article III, Paragraph 2. In continue construction of the event DRILLSHIP on the parties are unable to agree upon such alteration, if any, basis of the SPECIFICATIONS until agreement to the Contract Price or above has been reached. (b) Notwithstanding the Delivery Dateforegoing, BUILDER shall proceed with such modification or change and any area of disagreement that cannot subsequently be resolved between BUILDER and BUYER shall be resolved in accordance with Paragraph 4 of this Article. Within fifteen (15) calendar days of BUYER's notification to BUILDER to proceed with modifications or changes to the Specifications, BUILDER shall notify BUYER in writing of any such modifications or changes that will have an impact on the Contract Price and/or the Delivery Date or which otherwise would require issuance of a Change Order to this Contract, including complete details of the nature of such impact. Failure of BUILDER to so notify BUYER shall be deemed a waiver of BUILDER's right to subsequently claim for any change in the Contract Price or the Delivery Date or issuance of any Change Order associated with such modifications or changes. Such agreement shall be effected by exchange of letters signed by the authorized representatives of the parties hereto, which shall constitute amendments to this Contract and/or Specifications. The BUILDER may also make minor changes to the SpecificationsSPECIFICATIONS including, but not limited to, the dimensions and characteristics of the DRILLSHIP, if found necessary for to suit the SHIPYARD’s local conditions and facilities, the availability of materials and equipment, introduction of improved production methods or otherwise, provided that the BUILDER shall first obtain BUYER’s written (which expression includes e-mail communication) approval, which shall not be unreasonably withheld or delayed. (c) Upon receiving a written request for MODIFICATION from BUYER, BUILDER will submit to BUYER in writing within twenty one (21) working days a quotation of the change in the CONTRACT PRICE and/or DELIVERY DATE (if any) as a result of alterations and adjustments required to the SPECIFICATIONS. (d) In the event that BUYER requests any change that would result in a net savings in cost then, subject to negotiations between the parties, the cost saving shall be to BUYER's written approval thereof’s benefit and be credited in the final accounts on delivery of the DRILLSHIP.

Modification of Specifications. Within thirty-four (34) calendar days of The work to be performed by the Construction Commencement Date, Builder under the Specifications may Contract can be modified and/or or changed by BUYER as respects machinery arrangements and/or systems installations without altering request from the Contract Price or the Delivery Date if Buyer provided that such modifications or changes do will not necessitate structural changes. The Specifications may also be otherwise modified and/or changed at any time by written agreement of adversely affect the Builder’s other commitments, and provided further that the parties hereto, provided, that the BUYER and the BUILDER shall first agree to alterations possible adjustment in the Contract Price and Price, the Delivery Date, if any, Date and such other terms and conditions occasioned by or resulting from such modifications and/or changes. Any such alterations in the Delivery Date as may be mutually agreed in writing shall be understood to be Permissible Delays as contemplated by Article III, Paragraph 2. In the event the parties are unable to agree upon such alteration, if any, to the Contract Price or the Delivery Date, BUILDER shall proceed with such modification or change and any area of disagreement that cannot subsequently be resolved between BUILDER and BUYER shall be resolved in accordance with Paragraph 4 of this Article. Within fifteen (15) calendar days of BUYER's notification to BUILDER to proceed with modifications or changes to the Specifications, BUILDER shall notify BUYER in writing of any such modifications or changes that will have an impact on the Contract Price and/or the Delivery Date or which otherwise would require issuance of a Change Order to this Contract, including complete details of the nature of such impact. Failure of BUILDER to so notify BUYER shall be deemed a waiver of BUILDER's right to subsequently claim for any change in the Contract Price or the Delivery Date or issuance of any Change Order associated with such modifications or changeschange. Such agreement shall be effected either by exchange way of exchanges of letters duly signed by the authorized authorised representatives of the parties heretoparties, or by signed change order form, or by minutes of meeting or similar signed by authorised representatives of the parties, which shall constitute the necessary amendments to this the Contract. Possible increase or decrease in the Contract and/or SpecificationsPrice shall be calculated in accordance with unit prices (inclusive of administration costs) or budget prices if such prices are available, otherwise as per the Builder’s customary price for such work. Upon receipt by the Builder of a request from the Buyer for a modification or change as aforesaid, the Builder shall as soon as reasonably possible and at the latest within two weeks thereafter submit to the Buyer a proposal for adjustment in Contract Price, the Delivery Date and such other terms and conditions occasioned by or resulting from such modification or change. The BUILDER may parties shall then within one week thereafter seek to agree on possible adjustment in Contract Price, the Delivery Date and such other terms and conditions occasioned by or resulting from such modification or change. If modifications or changes are made without such written agreement as aforesaid, or if the Builder fails to notify the Buyer in writing without undue delay that there are modifications or changes which will require an increase in the Contract Price, delayed delivery, changes in the Vessel’s characteristics or other changes in the Contract, the Builder will not be entitled to any increase in the Contract Price, adjustment of Delivery Date or other adjustments and the Contract will remain unchanged. The Builder is entitled to make minor modifications or changes to the Specifications, if found necessary for to suit the Builder’s local conditions or facilities, the availability of materials and equipment, the introduction of improved production improvement methods or otherwise, provided that the BUILDER Builder shall first obtain the BUYER's written approval thereofBuyer’s approval, which shall not be unreasonably withheld or delayed.

Modification of Specifications. Within thirty-four (34a) calendar days Any MODIFICATION or variation of or amendment to the Construction Commencement Date, the Specifications may SPECIFICATIONS shall be modified and/or changed by BUYER as respects machinery arrangements and/or systems installations without altering the Contract Price or the Delivery Date if such modifications or changes do not necessitate structural changes. The Specifications may also be otherwise modified and/or changed at any time evidenced by written agreement of the parties hereto, hereto (a “CHANGE ORDER”); provided, that prior to any MODIFICATION or variation being effected by the BUYER and BUILDER, the BUILDER parties shall first agree to alterations in the Contract Price CONTRACT PRICE, the DELIVERY DATE, lightship weight and the Delivery Date, if any, other terms and conditions of this CONTRACT and SPECIFICATIONS occasioned by or resulting from such modifications and/or changesMODIFICATION or variation within seven (7) days from the receipt by BUYER of BUILDER’s proposal. Any such alterations in BUILDER has the Delivery Date as may be mutually agreed in writing shall be understood right to be Permissible Delays as contemplated by Article III, Paragraph 2. In continue construction of the event DRILLSHIP on the parties are unable to agree upon such alteration, if any, basis of the SPECIFICATIONS until agreement to the Contract Price or above has been reached. (b) Notwithstanding the Delivery Dateforegoing, BUILDER shall proceed with such modification or change and any area of disagreement that cannot subsequently be resolved between BUILDER and BUYER shall be resolved in accordance with Paragraph 4 of this Article. Within fifteen (15) calendar days of BUYER's notification to BUILDER to proceed with modifications or changes to the Specifications, BUILDER shall notify BUYER in writing of any such modifications or changes that will have an impact on the Contract Price and/or the Delivery Date or which otherwise would require issuance of a Change Order to this Contract, including complete details of the nature of such impact. Failure of BUILDER to so notify BUYER shall be deemed a waiver of BUILDER's right to subsequently claim for any change in the Contract Price or the Delivery Date or issuance of any Change Order associated with such modifications or changes. Such agreement shall be effected by exchange of letters signed by the authorized representatives of the parties hereto, which shall constitute amendments to this Contract and/or Specifications. The BUILDER may also make minor changes to the SpecificationsSPECIFICATIONS including, but not limited to, the dimensions and characteristics of the DRILLSHIP, if found necessary for to suit the SHIPYARD’s local conditions and facilities, the availability of materials and equipment, introduction of improved production methods or otherwise, provided that the BUILDER shall first obtain BUYER’s written (which expression includes e-mail communication) approval, which shall not be unreasonably withheld or delayed. (c) Upon receiving a written request for MODIFICATION from BUYER, BUILDER will submit to BUYER in writing within twenty one (21) working days a quotation of the change in the CONTRACT PRICE and/or DELIVERY DATE (if any) as a result of alterations and adjustments required to the SPECIFICATIONS. (d) In the event that BUYER requests any change that would result in a net savings in cost then, subject to negotiations between the parties, the cost saving shall be to BUYER's written approval thereof’s benefit and be credited in the final accounts on delivery of the DRILLSHIP. (e) The parties agree that if any MODIFICATIONS are to be made to both SPECIFICATIONS of the DRILLSHIP and XXXX 0 after the EFFECTIVE DATE of this CONTRACT, the BUILDER’s quotations to adjust the CONTRACT PRICE for such MODIFICATIONS as set forth in Article V.4 shall reflect the amount saved by the BUILDER by reason that the plans or drawings and related engineering works done for the XXXX 0 may be applied or used also for the DRILLSHIP or vice versa. Any CHANGE ORDERS for UNIT 1 agreed to on or before the EFFECTIVE DATE of this CONTRACT shall be treated as part of the SPECIFICATIONS for the DRILLSHIP and not as CHANGE ORDERS.

Modification of Specifications. Within thirty-four (34) calendar days of The work to be performed by the Construction Commencement Date, the Specifications may Builder under this Contract can be modified and/or or changed by BUYER as respects machinery arrangements and/or systems installations without altering request from the Contract Price or the Delivery Date if Buyer provided that for such modifications or changes do not necessitate structural changes. The Specifications may also be otherwise modified and/or changed at any time by written agreement of the parties hereto, provided, that the BUYER and the BUILDER shall first agree to alterations possible adjustment in the Contract Price and Price, the Delivery Date, if any, Date and such other terms and conditions occasioned by or resulting from such modifications and/or changes. Any such alterations in the Delivery Date as may be mutually agreed in writing shall be understood to be Permissible Delays as contemplated by Article III, Paragraph 2. In the event the parties are unable to agree upon such alteration, if any, to the Contract Price or the Delivery Date, BUILDER shall proceed with such modification or change and any area of disagreement that cannot subsequently be resolved between BUILDER and BUYER shall be resolved in accordance with Paragraph 4 of this Article. Within fifteen (15) calendar days of BUYER's notification to BUILDER to proceed with modifications or changes to the Specifications, BUILDER shall notify BUYER in writing of any such modifications or changes that will have an impact on the Contract Price and/or the Delivery Date or which otherwise would require issuance of a Change Order to this Contract, including complete details of the nature of such impact. Failure of BUILDER to so notify BUYER shall be deemed a waiver of BUILDER's right to subsequently claim for any change in the Contract Price or the Delivery Date or issuance of any Change Order associated with such modifications or changeschange. Such agreement shall be effected either by way of exchange of letters duly signed by the authorized authorised representatives of the parties heretoparties, or by signed change order form, or by minutes of meeting signed by Authorised Representatives of the parties, which shall constitute the necessary amendments to this the Contract. Possible increase or decrease in the Contract and/or SpecificationsPrice shall be calculated in accordance with unit prices (inclusive of administration costs) or budget prices if such prices are available, otherwise as per the Builder's customary price for such work after obtaining the concurrence of the buyer and / or his Authorized Representatives. If modifications or changes are made without such written agreement as aforesaid, or if the Builder fails to notify the Buyer in writing without undue delay that the modifications or changes will require an increase in the Contract Price, delayed delivery, changes in the Vessel's characteristics or other changes in the Contract or the specifications, the Builder will not be entitled to any increase in the Contract Price, adjustment of Delivery Date or other adjustments, and the Contract will remain unchanged. The BUILDER may Builder is entitled to make minor modifications or changes to the Specifications, if found necessary for to suit the Builder's local conditions or facilities, the availability of equipment, the introduction of improved production improvement methods or otherwise, provided that the BUILDER Builder shall first obtain the BUYERBuyer's or his Authorised Representative’s written approval thereofapproval, which shall not be unreasonably withheld or delayed. Requirement of any additional instruments, tools, consumables (to be provisioned on board the vessel) if envisaged by the Buyer and conveyed in writing during the currency of the contract, the list of such items will be submitted to the builder for effecting the supplies and payment will be reimbursed as per actual.