Common use of OBJECT OF THE CONTRACT Clause in Contracts

OBJECT OF THE CONTRACT. In consideration of the mutual covenants contained herein the Builder agrees to build, equip, launch and complete the Vessel at the Builder’s wholly owned Shipyard known as PT Nanindah Mutiara Shipyard in Batam and to deliver the Vessel to the Owner after successful sea trials and completion of delivery formalities in accordance with Article 7 hereof. The Vessel shall be built according to the Contract Documents. The Contract Documents will form integral parts of this Contract. The Vessel shall be delivered to the Owner free of any liens, charges, claims, mortgages or other encumbrances whatsoever. The Owner agrees to purchase, pay for, accept and take delivery of the Vessel once completed in accordance with this Contract.

OBJECT OF THE CONTRACT. In consideration of the mutual covenants contained herein the Builder agrees to build, equip, launch and complete the Vessel at the Builder’s 's wholly owned Shipyard known as PT Nanindah Mutiara Shipyard in Batam and to deliver the Vessel to the Owner after successful sea trials and completion of delivery formalities in accordance with Article 7 hereof. The Vessel shall be built according to the Contract Documents. The Contract Documents will form integral parts of this Contract. The Vessel shall be delivered to the Owner free of any liens, charges, claims, mortgages or other encumbrances whatsoever. The Owner agrees to purchase, pay for, accept and take delivery of the Vessel once completed in accordance with this Contract.