Common use of SALE OF THE VESSEL Clause in Contracts

SALE OF THE VESSEL. The Seller hereby agrees to sell to the Buyer and the Buyer hereby agrees to buy from the Seller the Vessel described below pursuant to the terms and conditions of this MOA: Name of vessel: "Hilli" IMO Number: 7382720 Classification Society: DET NORSKE VERITAS Class notation: 1A1 Tanker for liquefied gas New Class notation (following conversion of the Vessel pursuant to the terms of the Conversion Contracts): OI Ship-Shaped LNG Production and Storage Unit, "POSMOOR" Year of build: 1975 Original builder: MXXX RXXXXXXXX VERFT - Norway Year of conversion: 2017 Conversion yard: Keppel Shipyard Limited, Singapore Flag: Mxxxxxxx Islands Place of registration: Majuro The Vessel will be delivered simultaneously under this MOA and the Bareboat Charter. The Vessel will on the Delivery Date be delivered by the Seller to the Buyer. Subject to compliance with the conditions in Clause 4 of this MOA, on the Delivery Date the Buyer shall accept and take delivery of the Vessel from the Seller, and the Vessel shall be deemed to be delivered under the Bareboat Charter by the Buyer to the Bareboat Charterer.