SALE OF THE VESSEL. (a) In the event of rescission of this Contract as above provided, the BUILDER shall have full right and power either to complete or not to complete the VESSEL as it deems fit, and to sell the VESSEL at a public or private sale on such terms and conditions as the BUILDER thinks fit without being answerable for any loss or damage.
Appears in 5 contracts
Samples: Shipbuilding Contract (Globus Maritime LTD), Shipbuilding Contract (Globus Maritime LTD), Shipbuilding Contract (Scorpio Bulkers Inc.)
SALE OF THE VESSEL. (a) a. In the event of rescission cancellation of this Contract as above provided, the BUILDER shall have full right and power either to complete or not to complete the VESSEL as it deems fit, and to sell the VESSEL at a public or private sale on such terms and conditions as the BUILDER thinks fit without being answerable for any loss or damage.
Appears in 2 contracts
Samples: Contract (Alexander & Baldwin Inc), Contract (Alexander & Baldwin Inc)
SALE OF THE VESSEL. (a) In the event of rescission of this Contract as above provided, the BUILDER shall have full right and power either to complete or not to complete the VESSEL as it deems fit, and to sell the VESSEL at a public or private sale on such terms and conditions as the BUILDER thinks fit without being answerable for any loss or damage. In the case of sale of the VESSEL, the BUILDER shall give telefax or written notice to the BUYER.
Appears in 2 contracts
Samples: Shipbuilding Contract (Safe Bulkers, Inc.), Shipbuilding Contract (Safe Bulkers, Inc.)
