Common use of Non-Excusable Delay Clause in Contracts

Non-Excusable Delay. In the event that delivery of products shall be delayed by more than fifteen (15) calendar days beyond agreed delivery dates, by causes not deemed to be excusable, Buyer has the right to deduct from Seller’s invoice an amount of point two (0.2) percent per calendar day for each calendar day of delay of the invoice value of such delayed products up to four (4) percent of the product value as sole remedy. In the event that such non-excusable delay extends to three (3) calendar months, Buyer has the right to terminate the non-excusable delayed open Purchase Orders on products covered by this agreement, and thus be relieved from accepting the non-excusable delayed undelivered products without prejudice to Buyer’s right to claim from Seller liquidated damages as per this article “non-excusable delay” as sole remedy. If the delivery of the products is delayed and/or put on hold beyond the agreed delivery date by causes which are in the responsibility of the Buyer, the Buyer shall be obliged to issue a credit note to Seller with an amount of point two (0.2) percent per calendar day up to four (4) percent of the value of the ship set affected by the default in taking delivery. Should the Buyer cause delay in delivery exceeding three (3) months, Seller has the right to terminate the Purchase Agreement in whole or in part. Additionally Seller has the right to claim further damages relating to the delay in taking delivery and retains all its rights and remedies provided by law. No action by a party shall constitute a waiver of any such right or remedy.

Non-Excusable Delay. In the event that of delivery of products shall be delayed by more than fifteen (15) calendar days beyond agreed delivery dates, dates by causes not deemed to be excusable, Buyer has the right to deduct as sole remedy from Seller’s invoice an amount of point two (0.2) percent per cent per calendar day for each calendar day of delay of the invoice value of such delayed products up to four (4) percent per cent of the product value as sole remedyvalue. In the event that such non-excusable delay extends to three (3) calendar months, Buyer has the right to terminate the non-excusable delayed open Purchase Orders on products covered by this agreement, agreement and thus be relieved from accepting the non-excusable delayed undelivered products without prejudice to Buyer’s right to claim from Seller liquidated damages as per this article “non-excusable delay” as sole remedy. If the delivery of the products is delayed and/or put on hold beyond the agreed delivery date by causes which are in the responsibility of the Buyer, Buyer the Buyer shall be obliged to issue a credit note to Seller with an amount of point two (0.2) percent per cent per calendar day of the value of the ship set affected by the default in taking delivery up to four (4) percent per cent of the value of the ship set affected by the default in taking delivery. No action by a party shall constitute a waiver of any such right or remedy. Should the Buyer cause such delay in delivery exceeding exceed three (3) months, Seller has the right to terminate the Purchase Agreement in whole or in part. Additionally Seller has the right to claim further damages relating to the delay in taking delivery and retains all its rights and remedies provided by law. No action by a party shall constitute a waiver of any such right or remedy.

Non-Excusable Delay. In the event that delivery of products shall be delayed by more than fifteen (15) calendar days beyond agreed delivery dates, by causes not deemed to be excusable, Buyer has the right to deduct from Seller’s invoice an amount of point two (0.2) percent per calendar day for each calendar day of delay of the invoice value of such delayed products up to four (4) percent of the product value as sole remedy. In the event that such non-excusable delay extends to three (3) calendar months, Buyer has the right to terminate the non-excusable delayed open Purchase Orders on products covered by this agreement, and thus be relieved from accepting the non-excusable delayed undelivered products without prejudice to Buyer’s right to claim from Seller liquidated damages as per this article “non-non- excusable delay” as sole remedy. If the delivery of the products is delayed and/or put on hold beyond the agreed delivery date by causes which are in the responsibility of the Buyer, the Buyer shall be obliged to issue a credit note to Seller with an amount of point two (0.2) percent per calendar day up to four (4) percent per calendar day of the value of the ship set affected by the default in taking delivery. Should the Buyer cause delay in delivery exceeding three (3) months, Seller has the right to terminate the Purchase Agreement in whole or in part. Additionally Seller has the right to claim further damages relating to the delay in taking delivery and retains all its rights and remedies provided by law. No action by a party shall constitute a waiver of any such right or remedy.