Sale of Vessel. If the BUILDER terminates this CONTRACT as provided in this Article XI, the BUILDER shall have the full right and power either to complete or not to complete the VESSEL which is the sole property of the BUILDER 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. The proceeds received by the BUILDER from the sale shall be applied in addition to the instalment(s) retained by the BUILDER as mentioned hereinabove as follows : -
Appears in 6 contracts
Samples: Shipbuilding Contract (DHT Holdings, Inc.), Shipbuilding Contract (DHT Holdings, Inc.), Shipbuilding Contract (DHT Holdings, Inc.)
